Total assets climbed 12 percent to an all-time high of AED1.322 trillion, ICD reveals
Investment Corporation of Dubai
Latest in Investment Corporation of Dubai
branding
Investment Corporation of Dubai unveils new brand identity
The rebrand coincides with ICD’s relocation to its new headquarters at One Za’abeel in Dubai
Government of Dubai
Dubai boom helps ICD reach record revenues, net profit and assets for H1 2023
Revenues rise 20% to $39.5 billion; Net profit up 91% to $7.7 billion; Assets reach record valuation of $341.2 billion
ALEC Engineering and Contracting
Dubai Municipality signs massive construction deal with LINQ
The approval is part of Dubai Municipality’s commitment to advancing sustainable practices and making Dubai one of the world’s most advanced cities
Dubai 2040 Urban Master Plan
Palm Jebel Ali: Everything you need to know about Sheikh Mohammed’s visionary masterplan
On Wednesday, the Dubai ruler announced a new masterplan for Palm Jebel Ali, which will surpass the size of Palm Jumeirah
ALEC
UAE first casino resort to be built by ALEC
Wynn Resorts has named its main contractor for the casino hotel set to open in 2027
Dubai
Retail giant GMG buys aswaaq from Investment Corporation of Dubai
The buyout will bolster GMG with 11 community malls, 22 supermarkets, and 800 employees
Financial literacy
National Bonds, Lulu Exchange in partnership to promote savings habits, products
The partnership will lead to Lulu Exchange branches across the UAE providing services to nationals and expats to join National Bonds’ diversified saving products or top up their National Bonds accounts
Dubai gratuity law
UAE gratuity: How to calculate your end of service benefits
The UAE exercises strong laws regarding end-of-service benefits to ensure employees are met with a safety net in case of job loss or resignation
Abu Dhabi Investment Authority
Top 10 biggest sovereign wealth funds in GCC
While China leads the list of the biggest sovereign wealth funds globally with over $1.22 trillion in assets, UAE tops the list in the GCC region
DFM
Dubai school operator Taaleem to raise $204 million in IPO
Taaleem will use the proceeds from the offering to expand its premium network of K-12 schools
Employee pension plans
UAE National Bonds launches Golden Pension Plan for expats, nationals
The National Bonds initiative allows companies to provide financial care for employees
financial decisions
National Bonds partners with Taaleem to promote financial literacy among UAE youth
The National Bond-Taaleem tie-up will see the launch of an educational campaign amongst over 15,000 students that are part of Taaleem schools in the UAE
aluminum
Investment Corporation of Dubai sees ‘significant turnaround’ with AED10.1 billion profit
Rallying commodity prices in the oil & gas sector and higher levels of activity in transportation were among the contributors
Financial resilience
UAE’s National Bonds firm reports investments worth $3.23bn in 2021 as residents return to “low-risk savings”
UAE citizens and residents who have been long-term National Bonds savers with the company since 2006 have earned 64.11 percent in cumulative returns on their savings
Abdulnasser bin Kalban
UAE’s EGA, Saudi’s Ma’aden extend collaboration to develop greener aluminium smelting technologies
EGA and Ma’aden will also consider cooperation in managing by-products from processes in the aluminium value chain and aluminium recycling
Aluminium
DUBAL Holding reports record high net profits of $735 million driven by strong aluminium market
The exceptional 1,145 percent year-on-year growth in net profit resulted from a combination of good operational performance, as well as record profits made by DUBAL Holding’s 50% subsidiary, Emirates Global Aluminium (EGA), due to soaring global prices of aluminium in 2021