The UAE has joined over 50 other countries at the official launch of the Asian Infrastructure Investment Bank (AIIB) in Beijing. China is providing the bulk of the new lender’s capital, while the UAE is set to contribute $237 million (AED 870.3 million) over five years. AIIB will help mobilise funds for infrastructure projects in the Asian region, mainly focusing on developing economies. It’s the first international development bank which doesn’t have the United States and Japan as partners.
ADNOC L&S completes acquisition of 80% stake in Navig8
ADNOC Logistics and Services plc on Wednesday announced the completion of its acquisition of an 80 per cent stake in Navig8 for $1.04 billion (AED3.8 billion), with a contractual commitment to acquire the remaining 20 per cent in mid-2027.
Donald Trump announces $20 billion Damac US investment
Donald Trump has announced a $20 billion (AED 73.4 billion) investment from Damac Properties to build data centres across the United States.
Meta elects UFC CEO Dana White, two others to board
Meta Platforms has elected three new directors to its board, including Dana White, CEO of Ultimate Fighting Championship (UFC) and close friend of President-elect Donald Trump.
Abu Dhabi launches new Registration and Licensing Authority
Abu Dhabi launched Abu Dhabi Registration and Licensing Authority (ADRA) on Monday, aiming to further enhance and regulate the business sector across the emirate.
Abu Dhabi Sustainability Week to kick off on January 12
The 2025 edition of Abu Dhabi Sustainability Week (ADSW) is set to take place from January 12 to 18 in Abu Dhabi, bringing together global leaders to accelerate sustainable development and advance socioeconomic progress.
