Abu Dhabi’s newest sovereign wealth fund has strengthened its position in power and water utility TAQA after completing a major share purchase. The latest deal increases the fund’s ownership in the state-backed company and highlights its growing influence in the region’s investment sector. L’IMAD Holding, led by Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, increased its investment through its subsidiary, Abu Dhabi Power Corporation. The company acquired an additional 9.1 billion TAQA shares, raising its total ownership to 98.12 percent. The newly acquired shares are valued at around 21.56 billion dirhams, or about $5.87 billion,…
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President Sheikh Mohamed has met the Presidential Camel Racing Team in Abu Dhabi, recognizing their strong performance across the 2025 to 2026 racing season. The meeting highlighted the importance of camel racing as both a sport and a cultural tradition in the United Arab Emirates. The visit took place on Tuesday, with Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, also present. During the meeting, Sheikh Mohamed reviewed the team’s achievements across major regional and international competitions held throughout the season. The team delivered a series of notable victories in several high-profile events.…
Abu Dhabi-based Story Hospitality has officially joined the Global Hotel Alliance, marking a major step in its international expansion strategy and strengthening its position in the global luxury and lifestyle hospitality market. The move connects the group to one of the world’s largest hotel loyalty networks, giving its guests access to more than 1,000 hotels across multiple regions. The partnership introduces a new programme called Story Discovery, which integrates Story Hospitality into the wider GHA Discovery platform. This system allows members to earn and redeem rewards across hotel stays as well as a wide range of services, including dining, wellness…
Abu Dhabi is reshaping its solar energy future with a new self-supply framework that signals a major shift in how distributed solar power will work. The change is not only about installing more rooftop panels. It is about building a smarter and more controlled energy system that links solar production with real demand, storage, and grid stability. The new approach shows that Abu Dhabi is moving toward a more advanced phase of clean energy planning. Instead of focusing only on expansion, the emirate is now prioritizing how solar power fits into the wider electricity system. This includes demand patterns, battery…
Blue Owl Capital expands its global presence with a new office in Abu Dhabi’s ADGM. The private credit firm is making the UAE capital its regional headquarters as more Wall Street firms continue to move into the Middle East’s fast-growing financial hub. The decision shows how major global asset managers are strengthening their long-term plans in the region. Blue Owl Capital manages about $315 billion in assets. The company says the Abu Dhabi office will help it serve clients more directly across the Middle East and nearby markets. It also reflects a wider strategy to build stronger ties with institutional…
Hub71 startup funding has reached a major milestone as Abu Dhabi continues to strengthen its position as a global technology hub. Startups within the Abu Dhabi-based innovation ecosystem Hub71 have raised more than Dh9.9 billion, or about $2.7 billion, in total funding by the end of 2025. They have also generated Dh5.4 billion in revenue, equal to around $1.5 billion, showing strong commercial growth across the platform. According to the Hub71 2025 Impact Report, startups in the ecosystem secured Dh2.2 billion in funding and generated Dh645 million in revenue during 2025 alone. The figures highlight continued expansion and investor confidence…
ADJD AI judicial services are moving forward as Abu Dhabi strengthens the use of advanced technology in its justice system. The Abu Dhabi Judicial Department, Abu Dhabi Judicial Department, has reviewed new projects aimed at expanding artificial intelligence across judicial and notary services. The focus is on improving efficiency, accuracy, and speed in legal processes through smart systems. The review took place during a meeting of the Committee for the Use of Artificial Intelligence in Judicial and Notary Services. The session was chaired by Counsellor Yousef Saeed Al Abri, Undersecretary of ADJD. Officials discussed how AI tools can be better…
A recent CAM Abu Dhabi visit has placed global cooperation against antisemitism, extremism, and online radicalization in focus. The visit brought senior representatives from the Combat Antisemitism Movement into key meetings and public events across Abu Dhabi. The discussions highlighted the growing role of digital platforms and artificial intelligence in spreading hate and misinformation. The delegation included Combat Antisemitism Movement Executive Director of European Affairs Shannon Seban and Public Affairs Officer Natalie Sanandaji. Their agenda focused on strengthening cross-border cooperation and improving responses to online extremist content. A major part of the visit was participation in the 3rd International Dialogue…
ADNIC leadership change is now shaping key developments in Abu Dhabi’s financial and insurance sector. The chief executive officer of Abu Dhabi National Insurance Company, Charalampos Mylonas, has resigned from his position. His resignation became effective on 4 June, according to a disclosure made to the Abu Dhabi Securities Exchange. The company confirmed the leadership transition in an official filing. Following this change, the board appointed Jugal Kishore Madaan as acting chief executive officer. He will take over from 5 June, subject to approval from the Central Bank of the United Arab Emirates. Madaan currently serves as executive vice president…
Beecle Opens Its Official Online Store The wait is over: Beecle, the new cosmetics brand, has officially launched its online shop today. Customers can now visit www.beecle.com to explore the brand in detail and place their first orders directly through the official website. With this launch, Beecle takes an important step into the beauty and cosmetics market. The brand presents itself with a modern digital presence and a clear focus on accessible beauty, everyday self-care, and a clean, contemporary online shopping experience designed for today’s consumers. Starting the Direct-to-Consumer Journey Today’s launch marks the beginning of Beecle’s direct-to-consumer journey. Through…
