RIYADH: A wholly owned subsidiary of Abu Dhabi-based investment and holding firm ADQ has offered to merge its aviation assets with local airline Abu Dhabi Aviation.
The deal involving ADQ Aviation would see accumulative assets amounting to SR 9.6 billion ($2.6 billion), Asharq reported.
The goal of the deal is to form one entity in the aircraft engineering and maintenance sector and create a globally competitive firm based in Abu Dhabi.
The deal also supports the UAE’s position as a leading global hub for aviation maintenance, repair services, logistics, supply chain, and advanced engineering capabilities.
Informatica
American software development company Informatica has announced that it intends to provide all 76 Abu Dhabi government entities with enterprise data management services amid plans to boost presence and investment in the UAE, MEED reported.
Also referred to as the Intelligent Data Management Cloud, the data management service will help government entities manage, own, and extract insights from their own data in the hopes of boosting the UAE’s economic growth and further advancing its digital transformation.
DIFC growth
Dubai International Financial Centre’s overall client pipeline has seen a 106 percent increase following the roadshow to the US in May this year.
This comes as the center witnesses a reputation and profile growth, according to a statement.
e& expansion
UAE-based technology and investment group e& has announced that it plans to buy telecom firms abroad in an attempt to increase revenue, The National News reported. The telecom operator also plans on acquiring businesses that add value and complement its consumer business to further expand its asset base.
