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Listed subsidiaries of Sheikh Tahnoun’s Investment Holding Company have had a tough first half of the year, with Multiply Group reporting a large loss and sister companies Alpha Dhabi and Emirates Stallions Group announcing sharp drops in profits.
Abu Dhabi’s Al-Sayegh Group, best known for its electronics distribution business, has expanded its interests in Africa with a cashew processing plant.
Shell, BP, Mitsui and TotalEnergies have all signed up to take 10% stakes in the $5.5bn Ruwais LNG project. Construction work is due to start soon, with the first LNG deliveries pencilled in for 2028.
Sheikh Hamdan Bin Mohammed Al-Nahyan will chair the new Smart and Autonomous Systems Council, which will act as a regulator and aim to attract investment into a sector which encompasses everything from self-driving cars to smart oil well technology and military weapons.
The Dubai-based low-cost carrier has complained that years of delivery delays by Boeing have “significantly impacted” its operations and are likely to negatively affect its financial performance this year.
Sheikha Mahra, a daughter of Dubai Ruler Sheikh Mohammed Bin Rashid Al-Maktoum, posted a message on Instagram directed at her husband of just over a year, Sheikh Mana Al-Maktoum, saying “I divorce you”.
United Al-Saqer Group, best known for its car dealerships, has bought into UK visual effects studio DNEG – the second major UAE-UK media deal in a matter of months.
Dubai Crown Prince Sheikh Hamdan Bin Mohammed has become only the second defence minister in the history of the country, taking over from his father, Dubai Ruler Sheikh Mohammed Bin Rashid who had held the post since the UAE was founded in 1971. It comes as part of a wider federal government reshuffle which included some significant changes for the education sector.
Sheikh Hamdan Bin Mohammed Bin Zayed Al-Nahyan was named a deputy chair of the Presidential Court for Special Affairs in a decree by his father, President Sheikh Mohammed Bin Zayed, on 10 July.
Umm Al-Quwain ruler Sheikh Saud Bin Rashid Al-Mualla has merged the emirate’s Municipality and Urban Planning departments, with Municipality chief Sheikh Ali Bin Saud placed in charge of the new body.
The Abu Dhabi Federal Appeals Court sentenced 43 people to life imprisonment and a further ten to terms of 10-15 years, while dismissing the cases against 24 others. Critics say the trial was fundamentally unfair and the defendants had already been convicted of the same crimes in 2013
Abu Dhabi Future Energy Company (Masdar) has agreed with Greece’s Gek Terna to buy a 67% stake in renewable energy company Terna Energy, at a cost of some $3.5bn.
The Al-Emarat corvette was handed over at Lorient shipyard in north-western France on 27 June and will join sister ship Bani Yas in the UAE Navy’s fleet.
Another lesser-known UAE royal has turned up touting business in Africa, with RAK ruling family member Sheikh Ahmed Bin Faisal Al-Qassimi signing deals to develop cable manufacturing and smart electricity meter plants in Zimbabwe and an investment agreement in Uganda.
PTT Exploration and Production has bought its 10% stake in the offshore concession from Germany’s Wintershall Dea, which now plans to close all its operations in the UAE.
