President Masoud Barzani this week paid an official visit to the United Arab Emirates to strengthen political, economic, cultural and investment ties between the Emirates and the Kurdistan Region. The President had meetings with the Prime Minister and Vice President of the UAE and constitutional monarch of Dubai, Sheikh Mohammed bin Rashed Al-Maktoum, and the […]
The British Business Group (BBG) Joint Committee in conjunction with UKTI cordially invites you to the Regal Ballroom at St Regis, Saadiyat Island, Abu Dhabi on Tuesday, 15th May 2012, @ 9am The Joint Committee of the British Business Groups in the UAE (Abu Dhabi and Dubai), with the support of UKTI, is engaged in […]
Abu Dhabi National Energy (TAQA), a state-owned oil explorer and power supplier, said it bought a 50 percent interest in a power plant in Iraqi Kurdistan. According to Reuters, the plant, which has been operating since 2009, has a capacity of 750 megawatts, with an additional 250 megawatts under construction. The company signed a joint […]
In an interview with Bloomberg, the new CEO of the Abu Dhabi National Energy Company (TAQA) said the state-run company looking at more opportunities in Iraq, and aims to exploit the synergy in its oil, gas and power businesses. Last week the company agreed to invest $46 million in WesternZagros Resources, acquiring a 19.9 percent […]
WesternZagros Resources has announced a strategic investment agreement with the Abu Dhabi National Energy Company PJSC ("TAQA"). The company's shares have risen 23% since Friday's close. Under the Agreement, TAQA will purchase, through a private placement, 74 million common shares in the Company at C$0.63 per share for gross proceeds of C$46,620,000. When this private […]
The head of Invest AD, the Abu Dhabi-based investment firm, sees growth in Iraq and Qatar. Gulf News reports that performance by the firm's Iraq fund has been particularly strong. "This year, with political change in the Middle East, performance has been varied, with a large dispersion of returns across the region," executive director Mohammad […]
Etihad Airways, the national airline of the United Arab Emirates, will double its flights from Abu Dhabi to Erbil at the beginning of September. The current twice-weekly service will increase to four services per week, complementing Etihad's daily operation to its other Iraqi destination, Baghdad. Etihad commenced two-class Airbus A320 operations to Erbil in June […]
A bid from an Emirati company to invest in one of Basra’s oil refineries to boost domestic production has won the support of the Basra Investment Commission. Haider Ali Fadel, chairman of the Commission, told AKnews on Monday that the Bin Khalid Group’s bid to increase the refinery’s production capacity to around 300,000 barrels per […]
Heritage Oil has held the 10% gain in its share price, following the report in the Thursday's Financial Times that the company had received a informal takeover offer from an un-named Abu Dhabi-based company. The company has not commented on these latest rumours, and is understood to have rejected the offer, which would value the […]
"Iraq is ... getting back on track and it's a country that cannot be allowed not to succeed." So said a top executive at Abu Dhabi-owned asset management firm Invest AD said on Monday. Speaking at the Reuters Middle East Investment Summit, Mohammed al Hashemi said Invest AD was still putting its Iraqi portfolio together, […]
Abu Dhabi's Invest AD has launched an Iraq Investment Fund to channel investment into high-growth companies in a country where improving stability and increased oil production should fuel strong economic expansion in coming years. Invest AD is seeding the fund and is marketing it alongside its other equities and private equity funds that invest in […]
Dr Sami al Araji, the chairman of Iraq's National Investment Commission, has said that Abu Dhabi-based developers have closed deals worth $66bn [79 trillion Iraqi dinars] for housing projects in Iraq. The companies involved are Bloom Properties and Al Maabar. Bloom Properties' projects include a $30bn development in Karbala, and $15bn to provide 300,000 dwellings […]
