Latest Threads on News from companies

Aldar, a leading real estate developer in the UAE, is investing AED 1.5 billion to transform its hotel portfolio in Abu Dhabi, aiming to capitalize on the growth of the UAE’s tourism sector and the global luxury travel market. Key changes include rebranding the Eastern Mangroves hotel as a Waldorf Astoria luxury resort, reimagining the Yas Plaza Hotels under the IHG brand to create the world's largest Vignette Collection resort, and converting the Tilal Liwa hotel in Al Dhafra into a luxury desert escape under the same brand. Additionally, Aldar is refurbishing and expanding its Nurai Island resort and enhancing its flagship hotels in Ras Al Khaimah. This transformation aligns with Abu Dhabi's strategy to increase international tourism, which saw a 27% rise in hotel guests in 2023.

GFH Financial Group B.S.C. has announced that its Board of Directors will hold a meeting on Thursday, November 7, 2024, at 2 p.m. (Kingdom of Bahrain time). The agenda includes reviewing the financial results for the third quarter of 2024 and discussing other internal matters. The announcement was made by Mariam Jowhary, Head of Compliance and AML.

Emirates Central Cooling Systems Corporation (Empower) announced its readiness for significant participation in the Water, Energy, Technology, and Environment Exhibition (WETEX) 2024 in Dubai. Empower, the world's largest district cooling services provider, will showcase its latest technologies and highlight its global leadership in district cooling development. The company plans to present its major projects, which have won international awards, and provide comprehensive explanations of their sustainable practices aimed at reducing carbon footprints and protecting the environment. Empower's CEO, Ahmad Bin Shafar, emphasized the company's commitment to offering an exceptional experience at the exhibition, stressing the importance of the event for integration across the energy sector and fostering collaboration between commercial and technical sectors. He also noted the growing demand for district cooling systems driven by the need for sustainable and cost-effective solutions.

Emirates Telecommunications Group Company (Etisalat Group) PJSC announced that the European Commission has granted approval for its acquisition of a controlling stake (50% +1 economic share) in PPF Telecom Group's assets in Bulgaria, Hungary, Serbia, and Slovakia. This approval follows extensive discussions with the Commission’s Foreign Subsidies Directorate, allowing the transaction to proceed ahead of the legal deadline. The approval includes commitments from e&, such as adhering to UAE bankruptcy laws, restrictions on financing PPF Telecom's EU business with certain exceptions, and informing the Commission of future non-notifiable acquisitions. All regulatory approvals have been obtained, with the transaction closing subject to customary terms. Further updates will be provided as necessary.