Author: MoneySecrets
Emirates SkyCargo has announced the expansion of its fleet with the addition of hydrogen-powered trucks, in collaboration with Al Ittihad Transport Company. The new trucks are set to begin operations in the first quarter of 2026, as part of the company’s ongoing efforts to adopt more sustainable transportation solutions. The current fleet comprises over 60 trucks that operate between Dubai International Airport and Al Maktoum International Airport, in addition to various other locations across the UAE. Five hydrogen-powered trucks will be introduced in the first phase, aimed at reducing carbon emissions and improving air quality, without compromising operational efficiency. The…
Abu Dhabi- ADNEC Group, a subsidiary of Modon Holding, has been awarded the Gold Award for “Investors in People” (IIP) and the Silver Award for “Investors in Wellbeing”, in recognition of its commitment to excellence in employee management, wellbeing, and professional development in the workplace. Humaid Matar Al Dhaheri, Managing Director and Group CEO of ADNEC, stated: “Winning these prestigious international awards reflects ADNEC’s strategic focus on human capital investment, which is the cornerstone of our business success. These accolades are not only a recognition of our HR practices but a testament to our culture of continuous improvement and excellence.”…
The publicly listed companies under the ADNOC Group on the Abu Dhabi Securities Exchange announced total cash dividend distributions exceeding AED 24.6 billion (approximately $6.7 billion) for the year 2024. This reflects the group’s strong financial performance and its continued commitment to delivering attractive returns to shareholders. These distributions followed the approval of final dividend proposals by shareholders during the annual general assemblies of the six listed entities. ADNOC Distribution Shareholders approved a final dividend of AED 1.3 billion ($350 million) for the second half of 2024, bringing total annual distributions to AED 2.6 billion ($700 million), equivalent to 20.57…
Venture capital activity in the Middle East and North Africa (MENA) surged in Q1 2025, reaching its highest level since the end of 2023. This uptick was supported by improved investor sentiment following regional interest rate cuts. Startups across the region secured $678 million in funding during the quarter, with a noticeable rise in median deal size—indicating larger capital flows toward more mature startups, according to data from Magnitt. Saudi Arabia emerged as the leading VC investment destination in MENA and topped the global list among emerging markets, attracting $391 million in capital. The UAE followed, securing approximately half that…
Kiyosaki Recommends It Amid Warnings of an Economic Collapse Amid growing global economic uncertainty and mounting fears of a major financial crisis, American entrepreneur and author of Rich Dad Poor Dad, Robert Kiyosaki, has issued a fresh warning about a looming “Great Depression,” urging individuals to protect themselves by investing in real assets such as gold, silver, and Bitcoin. In a post on X, Kiyosaki expressed optimism about the future of cryptocurrencies and precious metals, predicting that Bitcoin will surpass $1 million by 2035, gold will reach $30,000 per ounce, and silver will hit $3,000 per ounce. He described these…
United Arab Bank (UAB) recorded a net profit of AED 102 million in the first quarter of 2025, compared to AED 68 million during the same period in 2024, marking a 49% year-on-year increase. This strong performance was driven by improved operational efficiency and robust recoveries, resulting in lower net impairment charges. The bank’s total assets grew by 31% year-on-year to AED 23.4 billion, supported by strong growth in loans, advances, and Islamic financing (up 31%), investment growth (up 29%), and a notable 40% increase in customer deposits. UAB maintained a strong capital position, with a Capital Adequacy Ratio of…
The Environment Agency – Abu Dhabi (EAD) has launched the “Abu Dhabi Coral Reefs Gardens” initiative, under the directives of H.H. Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and Chairman of the Agency. The initiative is the largest of its kind in the Middle East and marks a major step in efforts to protect the marine environment and enhance marine biodiversity in the emirate. Set to be implemented between 2025 and 2030, the initiative aims to create coral reef gardens in Abu Dhabi’s coastal and deep waters by deploying 40,000 artificial reef modules of various…
H.E. Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), welcomed H.E. Wolfgang Hattmansdorfer, Austria’s Federal Minister of Economy, Energy, and Tourism, along with H.E. Etienne Berchtold, Austrian Ambassador to the UAE. The meeting was attended by DEWA officials, including Eng. Waleed Bin Salman, Dr. Yousif Al Akraf, and Eng. Marwan Bin Haidar. Discussions focused on enhancing bilateral cooperation in renewable energy, sustainability, and climate action, in line with the UAE’s vision for a green economy. Both sides emphasized the importance of knowledge exchange and collaboration in environmental technologies and innovation to address global climate…
ADNOC Drilling has announced the award of a new contract from ADNOC Offshore worth AED 2.97 billion to design and operate three advanced offshore rigs in support of the expansion of the Zakum field development project. This contract builds on a previous agreement signed in July 2024 for the deployment of three additional rigs for the same purpose, underscoring the ongoing strategic partnership between the two entities. Commenting on the announcement, Abdulrahman Abdullah Al Seiari, CEO of ADNOC Drilling, said: “We are extremely proud of this significant milestone, which supports our rapid growth journey. The new AI-enabled rigs will enhance…
The Real Estate Index report, issued by the Dubai Data and Statistics Establishment under the Dubai Digital Authority in collaboration with the Dubai Land Department, highlights strong and sustained performance across Dubai’s residential and commercial property sectors, reaffirming the market’s attractiveness and growing investor confidence. According to the report, residential property prices recorded an annual growth of 11.62 percent, driven by increased demand for villas and apartments, supported by a stable economic environment and rising investor trust. Quarterly data also showed a 1.99 percent increase compared to the previous quarter, reflecting continued positive momentum in this vital sector. In the…