City Abu Dhabi Financial News

Subscribe to enjoy similar stories. As a hectic year of deal-making in banking and financial services rolls to a close, experts are predicting that the mergers and acquisitions in 2026 will see mid-sized lenders and foreign capital taking centre-stage. Friday saw the biggest deal of the year – Mitsubishi UFJ Financial Group pouring nearly ₹40,000 crore into Shriram Finance, India's second largest non-banking finance company, for a 20% stake – in the sector highlighting how India has emerged as a magnet for global capital chasing lenders.

Subscribe to enjoy similar stories. MUMBAI : Fireside Ventures has closed its fourth consumer-focused fund at $253 million with a more diverse base of investors, or limited partners (LPs), to continue backing early-stage startups in India, a top official at the investment firm said. “In this fund, we have a 50-50 split between domestic and global investors.

Modi will hold talks with Crown Prince Mohammed bin Salman, who is also the PM of Saudi Arabia. Both sides will look to take forward agreements finalised during the crown prince’s trip to India in 2023. The protracted Israel-Hamas crisis and tensions in the Red Sea besides the India–Middle East–Europe Economic Corridor (IMEEC) are likely to figure in the discussion agenda, it has been learnt. Saudi Arabia plays a critical role in the proposed IMEEC connecting India with Europe through UAE and Saudi Arabia. Ahead of the PM's trip to Riyadh, Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, also the Defence Minister of UAE, is expected to visit New Delhi next week in yet another display of special ties. Sheikh Hamdan will meet defence minister Rajnath Singh as India moves to step up engagements with UAE’s next generation leadership. Last year, the Crown Prince of Abu Dhabi was hosted by the Modi government.

Piramal Finance raised more than ₹2,300 crore ($265 million) through an external commercial borrowing (ECB) facility. The loan was led by Standard Chartered Bank, The Hongkong and Shanghai Banking Corporation (HSBC), Sumitomo Mitsui Banking Corporation, and First Abu Dhabi Bank. The floating-rate loan is priced just under 9%, around 15-20 bps lower than the prevailing domestic market rate. «The facility has a 3-year tenor and is fully hedged to mitigate forex and interest rate risks,» said a banker. «Landed cost of funds is more competitive compared to domestic borrowing rates, making it an attractive financing option for Piramal Finance.» Loan has a greenshoe option, allowing it to be upsized to $300 million.

ultra-high-speed rail (UHSR), or hyperloop. The concept was first published by Elon Musk in a 2013 white paper, 'Hyperloop Alpha'. Hyperloop envisions pods carrying passengers or cargo in near-vacuum tubes at speeds approaching that of aircraft. Reduced friction and magnetic levitation enable significantly abbreviated travel times, reducing energy consumption and emissions compared to traditional modes. India commissioned a 422-m hyperloop test track — the world's longest — in December 2024, developed by Avishkar Hyperloop at IIT Madras, in collaboration with the Indian Railways and L&T Construction. Last month, TuTr Hyperloop, another IIT Madras-incubated deep-tech startup, working with Swisspod Technologies, conducted India's first commercial hyperloop pod test run.

Indians can now enjoy upto 30% off discount on the seasonal summer routes to Santorini, Antalya, and Nice and more offering even more exciting places to explore around the globe. The press statement said that the Indian travellers can book their flights at special sale fares until March 28, to Etihad destinations including Turkey, Greece, Spain, France and travel between 1 May and 30 September 2025. «Summer is the perfect time to create unforgettable travel memories, and we're making it easier with these special fares across our network. Whether you're dreaming of pristine beaches, cultural adventures, or family fun, our summer sale offers something for everyone. Book early and give yourself something wonderful to look forward to,» said Arik De, Chief Revenue and Commercial Officer, Etihad Airways.

ADGM, Abu Dhabi’s leading international financial centre. This significant milestone marks the fund’s official establishment in ADGM, positioning Yashaa Global Capital as a catalyst for driving global investments in the rapidly evolving sports sector. The fund, a unique initiative, helmed by General Partners Shikhar Dhawan, Mohammed Sirajuddin, Arif Padaria and Victor Tay, combines a pedigreed investment team with elite athletes. This collaboration leverages their expertise and extensive networks in the sports ecosystem, aiming to provide unparalleled value to portfolio companies through mentorship, strategic partnerships, and growth opportunities. Previously known as Da One Global Ventures, the fund has been rebranded to reflect its global ambitions and sharpened focus on innovation and wealth generation. Headquartered in Abu Dhabi, Yashaa Global Capital has a targeted $75M corpus (including a $25M greenshoe option), and is set to deploy capital globally across SportsTech, Fitness & Wellness, Esports & Gaming, MediaTech, Leagues & Teams. Leveraging ADGM’s status as a premier financial hub, the athlete-backed fund bridges global investors, startups, and sports entrepreneurs, fostering innovation and scalability. Its unique network ensures that its portfolio companies gain strategic insights and connections, delivering exceptional value to all stakeholders.

Microsoft Corp., the biggest backer of Sam Altman’s OpenAI, and BlackRock Inc., which has an executive on the artificial intelligence startup’s board, are joining forces with one of its chief rivals. Abu Dhabi’s MGX, Microsoft and BlackRock said Elon Musk’s xAI is joining their effort to build $30 billion worth of data centers and other artificial intelligence infrastructure. The AI chipmaker Nvidia Corp., which was already named as a technical adviser to the group when it was announced last year, is also formally joining, according to a statement on Wednesday that didn’t detail member commitments.

5,000-year-old civilization buried beneath the world’s largest continuous sand desert.

Subscribe to enjoy similar stories. At its best, Haldiram Snack Food Pvt. Ltd is a great example of a successful Indian family business.

MGX has invested $2 billion worth of cryptocurrency into Binance, in what the world's largest cryptocurrency exchange said on Wednesday was its first institutional investment. Binance and MGX said in statements posted on their website that the investment was made in stablecoin — a type of cryptocurrency pegged to a fiat currency such as the dollar. A spokesperson for Binance declined to comment on which stablecoin the payment was made in.

Subscribe to enjoy similar stories. On 25 February, the Avishkar Hyperloop student team from IIT-Madras and the railway ministry along with ArcelorMittal, Hindalco and Larsen & Toubro unveiled the Hyperloop test track. Once commissioned, it could cut Delhi-Jaipur travel (250km) to 30 minutes compared with 1 hour by air and 4–5 hours by road.

ICC Champions Trophy match, UAE cricketer Ibrar Ahmad Dawar has caught the attention of none other than Virat Kohli. During a net session, Ibrar bowled to Kohli, impressing the Indian star with his pace and accuracy.

Jennifer Lopez and Ben Affleck were formally declared single. On the second anniversary of the second anniversary of their Georgia wedding ceremony, August 20, 2024, Lopez first filed for divorce from Ben Affleck, as per a report.

Religare Enterprises, NTPC Green, Grindwell Norton, JM Financial, Tata Steel among others will be in focus due to various news developments. Religare Enterprises The Burman family has acquired a controlling stake in Religare Enterprises Limited (REL) after the completion of the open offer where it bought 83,201,819 equity shares representing 25.16%.

OpenAI CEO Sam Altman plans to visit the United Arab Emirates this week to discuss raising funds with Abu Dhabi investment group MGX, two sources with knowledge of the matter said.

Akasa Air said a freeze on international flying rights has stifled its growth due to inability to mount flights to lucrative destinations in the Middle East.

Italy, Albania and the United Arab Emirates have signed a three-way clean energy cooperation deal