Abu Dhabi

John Carey appointed as CEO and President of EG America

Retrieved on: 
Lundi, septembre 18, 2023
Kroger, Thumb, IPO, EG Group, The Conference Board, BP, Aviation, Liquefied petroleum gas, Castrol, Civil Service (United Kingdom), Loaf 'N Jug, Abu Dhabi, Kwik Shop, CBE, Knowledge, Growth, Cumberland Farms, EG, Retail, Management

John brings significant experience of operating global businesses and a track record of delivering high-quality returns.

Key Points: 
  • John brings significant experience of operating global businesses and a track record of delivering high-quality returns.
  • In addition, John already has detailed knowledge of EG Group's operations having been a non-executive member of the Board since November 2020.
  • John will succeed George Fournier, who stepped back as EG America President in the fourth quarter of last year for personal reasons, before returning in the spring to support the business.
  • The interim EG America President, Nick Unkovic, will revert to his role as Chief Legal and Administrative Officer of EG America.

Masdar and Africa50 Join Forces to Accelerate Clean Energy Transition Across Africa

Retrieved on: 
Jeudi, septembre 7, 2023
Ministry of Foreign Affairs (South Korea), Partnership, COP28, Infinity Power Chutes, Foreign Affairs, ECI, Ministry, Abu Dhabi, African Development Bank, Climate change, MOFA, IPH, COP27, Etihad Credit Insurance, Abu Dhabi Fund for Development, Memorandum of understanding, African Union Commission, Renewable energy, Drug, Masdar

Masdar brings its technical expertise and extensive experience in emerging markets, while Africa50 brings its experience developing projects in Africa, which combined can help unlock Africa's tremendous clean energy potential.

Key Points: 
  • Masdar brings its technical expertise and extensive experience in emerging markets, while Africa50 brings its experience developing projects in Africa, which combined can help unlock Africa's tremendous clean energy potential.
  • Masdar, one of the world's largest clean energy companies and the largest in Africa, committed US$2 billion of equity as part of the UAE finance initiative, which was announced during Africa Climate Summit by HE Dr. Sultan Al Jaber, Chairman of Masdar and COP28 President-Designate.
  • We need the public and private sectors to work together to deliver clean energy access across Africa – a key mission and objective of Africa50.
  • This landmark investment will target the delivery of 10GW of clean energy capacity in Africa by 2030.

Masdar and Africa50 Join Forces to Accelerate Clean Energy Transition Across Africa

Retrieved on: 
Jeudi, septembre 7, 2023
Ministry of Foreign Affairs (South Korea), Partnership, COP28, Infinity Power Chutes, Foreign Affairs, ECI, Ministry, Abu Dhabi, African Development Bank, Climate change, MOFA, IPH, COP27, Etihad Credit Insurance, Abu Dhabi Fund for Development, Memorandum of understanding, African Union Commission, Renewable energy, Drug, Masdar

Masdar brings its technical expertise and extensive experience in emerging markets, while Africa50 brings its experience developing projects in Africa, which combined can help unlock Africa's tremendous clean energy potential.

Key Points: 
  • Masdar brings its technical expertise and extensive experience in emerging markets, while Africa50 brings its experience developing projects in Africa, which combined can help unlock Africa's tremendous clean energy potential.
  • Masdar, one of the world's largest clean energy companies and the largest in Africa, committed US$2 billion of equity as part of the UAE finance initiative, which was announced during Africa Climate Summit by HE Dr. Sultan Al Jaber, Chairman of Masdar and COP28 President-Designate.
  • We need the public and private sectors to work together to deliver clean energy access across Africa – a key mission and objective of Africa50.
  • This landmark investment will target the delivery of 10GW of clean energy capacity in Africa by 2030.

COP28 Presidency Announces US$4.5 Billion UAE Finance Initiative to Unlock Africa's Clean Energy Potential

Retrieved on: 
Mardi, septembre 5, 2023
Ministry of Foreign Affairs (South Korea), Private sector, United Nations Framework Convention on Climate Change, Paris Agreement, Partnership, COP28, African Development Bank, Global stocktake, Infinity Power Chutes, UNFCCC, Etihad Airways, Initiative, Policy, Electricity, Foreign Affairs, Climate change, ECI, Carbon, COP, Ministry, Abu Dhabi, US, Expo 2020, MOFA, Investment, Abu Dhabi Fund for Development, Etihad Credit Insurance, Economic development, Africa50, Growth, Conference, Renewable energy, Financial services, Drug, Food delivery, Cryptocurrency, African, Flickr, Masdar, Global North and Global South, Stock-taking

Dr. Sultan Al Jaber, during keynote address at African Climate Summit in Nairobi, the investment initiative will help unlock Africa's clean energy potential.

Key Points: 
  • Dr. Sultan Al Jaber, during keynote address at African Climate Summit in Nairobi, the investment initiative will help unlock Africa's clean energy potential.
  • The COP28 President-Designate calls on Africa leaders to set out clear long-term transition and investment plans, along with policy and regulatory frameworks to unlock commercial finance for clean energy projects.
  • New initiative aligns with COP28 Presidency call for global tripling of renewable energy by 2030 and push to make finance more available, accessible and affordable.
  • Dr. Sultan Al Jaber, announced today a UAE finance initiative that will provide US$4.5 billion to help unlock Africa's clean energy potential.

NIO Inc. Reports Unaudited Second Quarter 2023 Financial Results

Retrieved on: 
Mardi, août 29, 2023
EC6, Investment, Marketing, Tencent, Research, NIO, Abu Dhabi, PIN, ES6, Growth, ES8, Total, Security (finance), Video game, Arms industry, Bank

SHANGHAI, China, Aug. 29, 2023 (GLOBE NEWSWIRE) -- NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) (“NIO” or the “Company”), a pioneer and a leading company in the premium smart electric vehicle market, today announced its unaudited financial results for the second quarter ended June 30, 2023.

Key Points: 
  • Vehicle sales in the second quarter of 2023 were RMB7,185.2million (US$990.9 million), representing a decrease of 24.9% from the second quarter of 2022 and a decrease of 22.1% from the first quarter of 2023.
  • Other sales in the second quarter of 2023 were RMB1,586.5 million (US$218.8 million), representing an increase of 119.9% from the second quarter of 2022 and an increase of 9.3% from the first quarter of 2023.
  • Gross margin in the second quarter of 2023 was 1.0%, compared with 13.0% in the second quarter of 2022 and 1.5% in the first quarter of 2023.
  • Vehicle margin in the second quarter of 2023 was 6.2%, compared with 16.7% in the second quarter of 2022 and 5.1% in the first quarter of 2023.

Shariah Compliant Digital Asset Exchange Haqqex Launching on HAQQ

Retrieved on: 
Vendredi, août 25, 2023
Cosmos, Crypto, Cloud, Partnership, L1, Al Rayan Bank, ALGO, Abu Dhabi Islamic Bank, Accounting and Auditing Organization for Islamic Financial Institutions, Software verification and validation, Chartered, Alibaba Cloud, Research, Attention, Sharia Board, Muslims, Advisory board, HAQQ, Sheikh, BNP Paribas, Abu Dhabi, S&P Dow Jones Indices, United Arab Emirates Navy, Bloomberg, National Bank of Abu Dhabi, Islam, Al-Haqq, P2P, Digital, Ecosystem, Lloyds Bank, Accounting, Cryptocurrency

Through its partnership with HAQQ, Haqqex's operations will be overseen and regulated for Shariah compliance by HAQQ's distinguished Shariah Board.

Key Points: 
  • Through its partnership with HAQQ, Haqqex's operations will be overseen and regulated for Shariah compliance by HAQQ's distinguished Shariah Board.
  • Haqqex is the first exchange to offer professional trading in accordance with Islamic law, uniquely providing user protection against market manipulation that includes sandwich trading, front-running, and other unfair practices.
  • “The partnership marks the launch of a digital asset exchange that will provide fairer, more transparent and ethics-infused trading for the Muslim world and beyond, and we are incredibly excited to work with the Haqq network,” Haqqex Managing partner commented.
  • By intertwining Shariah-compliant offerings with time-tested financial tools, Haqqex and HAQQ present a pioneering blend that prioritizes ethical values while delivering the advantages modern investors seek.

Rigetti and ADIA Lab Sign Collaboration Agreement to Develop Quantum Machine Learning Solution for Probability Distribution Classification

Retrieved on: 
Mercredi, juillet 26, 2023
Cloud, Abu Dhabi, Probability, ADIA, Quantum, Research, Algorithm, Cryptocurrency, Microscope, Rigetti Computing

Together, Rigetti and ADIA Lab will collaborate to design, build, execute, and optimize a quantum computing solution intended to address the probability distribution classification problem, one of the greatest challenges of quantitative finance, with many direct applications to practical use cases in the investment industry.

Key Points: 
  • Together, Rigetti and ADIA Lab will collaborate to design, build, execute, and optimize a quantum computing solution intended to address the probability distribution classification problem, one of the greatest challenges of quantitative finance, with many direct applications to practical use cases in the investment industry.
  • The collaboration aims to make use of today's quantum computing devices for solving real-world problems, with the ambitious objective of reducing the gap to the target of narrow quantum advantage.
  • Rigetti will investigate methods of encoding the classical datasets into corresponding quantum states using parameterised quantum circuits.
  • Rigetti will build and test the quantum solutions using its Quantum Cloud Services (QCS™) platform.

NIO Inc. Announces Closing of Strategic Equity Investment from CYVN

Retrieved on: 
Mercredi, juillet 12, 2023
Transfer, Investment, Tencent, NIO, Abu Dhabi, HKEX, Abu Dhabi Investment Office, Nio Inc., NYSE

SHANGHAI, China, July 12, 2023 (GLOBE NEWSWIRE) -- NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) (“NIO” or the “Company”), a pioneer and a leading company in the premium smart electric vehicle market, today announced that it has closed the US$738.5 million strategic equity investment from CYVN Investments RSC Ltd, an affiliate of CYVN Holdings L.L.C., an investment vehicle majority owned by the Abu Dhabi Government with a strategic focus on advanced and smart mobility (collectively referred to as “CYVN Entities”), previously announced on June 20, 2023 (the “Investment Transaction”).

Key Points: 
  • SHANGHAI, China, July 12, 2023 (GLOBE NEWSWIRE) -- NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) (“NIO” or the “Company”), a pioneer and a leading company in the premium smart electric vehicle market, today announced that it has closed the US$738.5 million strategic equity investment from CYVN Investments RSC Ltd, an affiliate of CYVN Holdings L.L.C., an investment vehicle majority owned by the Abu Dhabi Government with a strategic focus on advanced and smart mobility (collectively referred to as “CYVN Entities”), previously announced on June 20, 2023 (the “Investment Transaction”).
  • Based on publicly disclosed information, CYVN Entities also acquired certain Class A ordinary shares of the Company from an affiliate of Tencent for an aggregate consideration of US$350 million (the “Secondary Share Transfer”).
  • Following the Investment Transaction and the Secondary Share Transfer, CYVN Investments RSC Ltd in aggregate beneficially owns approximately 7.0% of the Company’s total issued and outstanding shares.
  • Going forward, NIO and CYVN Entities will work jointly to pursue strategic collaborations in international business and technology cooperation.

NIO Inc. Announces Strategic Equity Investment from CYVN Holdings

Retrieved on: 
Mardi, juin 20, 2023
Transfer, NIO, Abu Dhabi, HKEX, Development, Nio Inc., NYSE, Regulation, Security (finance), Tencent

The Investment Transaction is subject to customary closing conditions and the closing is expected to take place in early July 2023.

Key Points: 
  • The Investment Transaction is subject to customary closing conditions and the closing is expected to take place in early July 2023.
  • “The strategic investments from CYVN Holdings demonstrate NIO’s unique values in the smart electric vehicle industry.
  • “In addition, we are excited about the prospect of partnering with CYVN Holdings to expand our international business.
  • “We are excited to develop strategic partnerships with NIO, and are fully committed to providing strategic value that will support NIO’s international business growth.

Trescon's World AI Show brings cutting-edge AI solutions to MEA businesses

Retrieved on: 
Mardi, mars 7, 2023
Research, Zawar Farid, Learning, Artificial intelligence, Education, Transport, Abu Dhabi, Public utility, FMCG, Organization, Government, 41st G7 summit, Knowledge, Digitalization, Growth, ADDA, Taiwan Academy of Banking and Finance, Health, Medical device, Sales, MEA, Health care, AI

Dubai is set to host World AI Show, the world's longest-running AI series, for the 6th time.

Key Points: 
  • Dubai is set to host World AI Show, the world's longest-running AI series, for the 6th time.
  • This year's 41st edition is all about empowering businesses to supercharge their AI adoption in the region.
  • This high-energy event will witness exciting keynotes, insightful panel discussions, fireside chats, and innovative products & solutions at display that will take MEA businesses to new heights.
  • Emphasizing the importance of the World AI Show, Awad ElSidiq, Head of AI & Analytics, ADNOC Distribution says, "World AI Show is a value-added conference to learn and gain insights on latest AI & ML Trends and potential use cases."