Company Insights Investment Corporation of Dubai Banking and Finance Investment Corporation of Dubai Overview Investment Corporation of Dubai (ICD) is the emirate’s government’s principal investment arm. Established in 2006, it now has investments in more than 80 countries and had assets of more than $300 billion in 2022. Its holdings include operations in banking and finance, oil and gas, transport, and other sectors such as retail, leisure and hospitality, and real estate. The banking arm of ICD holds shares in major regional banks including Emirates NBD, Dubai Islamic Bank and Commercial Bank of Dubai, as well as Borse Dubai, the holding company for Dubai Financial Market (DFM) and Nasdaq Dubai. In the oil and gas sector its major holding is Emirates National Oil Company, established in 1993, while its transport entities include the airlines Emirates and FlyDubai and the major air services provider Dnata. ICD’s other holdings include the Atlantis and One & Only hotels, Dubai Duty Free and engineering and contracting company Alec. ICD says that focusing on environmental, social and corporate governance issues is “crucial for a sustainable future” and forms part of its project to make Dubai a global economy. It runs a group environment network for companies across the group to share best practice and improve standards. Investment Corporation of Dubai News Exclusive Health Globalpharma seeks early lead in race for Ozempic alternatives Globalpharma, which is a wholly owned subsidiary of Dubai Investments, is laying the groundwork to manufacture generic versions of blockbuster drugs such as Ozempic, positioning itself ahead of potential patent expiries and shifting regulatory frameworks. The UAE drugmaker is exploring partnerships to develop peptide-based injectables using off-patent precursors – drug ingredients that are no longer […] May 29, 2025 Aviation Dubai Aerospace to sell 75 aircraft to realign portfolio Dubai Aerospace Enterprise (DAE), the Middle East’s largest aviation leasing and engineering company, has agreed to sell 75 aircraft to two unnamed buyers as part of its plan to realign its fleet. A portfolio of 50 Embraer E-Jets will be sold to a specialist lessor, DAE said in a statement on Wednesday. Another 25 out-of-production […] May 28, 2025 Telecoms Turkcell secures $150m loan from Dubai Islamic Bank Turkey’s mobile operator Turkcell has secured its second loan from a UAE bank in a week. Dubai Islamic Bank will provide $150 million financing to fund digital infrastructure. The five-year Islamic facility will allow Turkcell to advance critical infrastructure such as data centres, cloud technologies and renewable energy, the lender said in a statement. Last […] May 28, 2025 Economy Owner of Emirates Airline reports climb in profit The Investment Corporation of Dubai (ICD) said profit and the value of its assets rose last year, buoyed by performance in its aviation, real estate and banking portfolio. Net income climbed 6 percent to AED53.2 billion ($14.5 billion) and the value of its assets more than 10 percent to AED1.47 trillion, the sovereign wealth fund […] May 21, 2025 Banking and Finance Emirates NBD gets nod to set up Indian subsidiary India’s central bank has given an “in-principle” approval to Emirates NBD Bank, Dubai’s biggest bank by assets, to set up a wholly owned subsidiary in India. The Dubai-listed lender currently offers banking services through branches in Chennai, Gurugram and Mumbai, the Reserve Bank of India (RBI) said in a statement. The approval allows Emirates NBD […] May 20, 2025 Markets Arabian Construction Company hires banks for IPO Arabian Construction Company (ACC), a family-owned business in Abu Dhabi, has reportedly picked local and global banks for its proposed initial public offering. First Abu Dhabi Bank and HSBC will advise the company on its domestic listing, Bloomberg reported. The listing is expected to take place in the second half of the year, sources said. In […] May 16, 2025 Mining Guinea ‘to pull EGA’s licence over alumina refinery row’ The Guinean government’s move to revoke Emirates Global Aluminium’s (EGA) mining licence stemmed from the company’s failure to fulfil its commitment to construct an alumina refinery, sources have told Reuters. Reuters reported on Wednesday that Guinea has launched a process to revoke the EGA licence, escalating a dispute that began in October with the suspension […] May 9, 2025 Aviation Emirates Group delivers record annual profit Emirates Group, Dubai’s flagship aviation conglomerate, has posted record annual earnings on the back of a surge in international travel, rising cargo volumes and declining fuel costs. The state-owned group, which includes long-haul carrier Emirates airline and global airport services provider Dnata, reported a profit of AED20.5 billion ($5.6 billion) for the financial year ending […] May 8, 2025 EXCLUSIVE Real Estate Dubai Investments plans IPO before year end, says CEO Dubai Investments is preparing to sell shares in four subsidiaries to the public and may list one of them before the year end, its CEO Khalid bin Kalban has told AGBI. The government-backed company manages AED22.1 billion ($6 billion) of assets in the UAE and beyond, in sectors including real estate, construction and building materials […] April 22, 2025 Finance Dubai’s ICD could tap IPO market to fund expansion The Investment Corporation of Dubai (ICD), the principal investment arm of the emirate’s government, could potentially turn to the capital markets with a raft of listings over the next year or so, according to analysts. Established in 2006, ICD is worth about $340 billion and already has one of its crown jewels – Emirates NBD, […] April 7, 2025 Posts navigation 1 2 … 5 Next
Exclusive Health Globalpharma seeks early lead in race for Ozempic alternatives Globalpharma, which is a wholly owned subsidiary of Dubai Investments, is laying the groundwork to manufacture generic versions of blockbuster drugs such as Ozempic, positioning itself ahead of potential patent expiries and shifting regulatory frameworks. The UAE drugmaker is exploring partnerships to develop peptide-based injectables using off-patent precursors – drug ingredients that are no longer […] May 29, 2025
Aviation Dubai Aerospace to sell 75 aircraft to realign portfolio Dubai Aerospace Enterprise (DAE), the Middle East’s largest aviation leasing and engineering company, has agreed to sell 75 aircraft to two unnamed buyers as part of its plan to realign its fleet. A portfolio of 50 Embraer E-Jets will be sold to a specialist lessor, DAE said in a statement on Wednesday. Another 25 out-of-production […] May 28, 2025
Telecoms Turkcell secures $150m loan from Dubai Islamic Bank Turkey’s mobile operator Turkcell has secured its second loan from a UAE bank in a week. Dubai Islamic Bank will provide $150 million financing to fund digital infrastructure. The five-year Islamic facility will allow Turkcell to advance critical infrastructure such as data centres, cloud technologies and renewable energy, the lender said in a statement. Last […] May 28, 2025
Economy Owner of Emirates Airline reports climb in profit The Investment Corporation of Dubai (ICD) said profit and the value of its assets rose last year, buoyed by performance in its aviation, real estate and banking portfolio. Net income climbed 6 percent to AED53.2 billion ($14.5 billion) and the value of its assets more than 10 percent to AED1.47 trillion, the sovereign wealth fund […] May 21, 2025
Banking and Finance Emirates NBD gets nod to set up Indian subsidiary India’s central bank has given an “in-principle” approval to Emirates NBD Bank, Dubai’s biggest bank by assets, to set up a wholly owned subsidiary in India. The Dubai-listed lender currently offers banking services through branches in Chennai, Gurugram and Mumbai, the Reserve Bank of India (RBI) said in a statement. The approval allows Emirates NBD […] May 20, 2025
Markets Arabian Construction Company hires banks for IPO Arabian Construction Company (ACC), a family-owned business in Abu Dhabi, has reportedly picked local and global banks for its proposed initial public offering. First Abu Dhabi Bank and HSBC will advise the company on its domestic listing, Bloomberg reported. The listing is expected to take place in the second half of the year, sources said. In […] May 16, 2025
Mining Guinea ‘to pull EGA’s licence over alumina refinery row’ The Guinean government’s move to revoke Emirates Global Aluminium’s (EGA) mining licence stemmed from the company’s failure to fulfil its commitment to construct an alumina refinery, sources have told Reuters. Reuters reported on Wednesday that Guinea has launched a process to revoke the EGA licence, escalating a dispute that began in October with the suspension […] May 9, 2025
Aviation Emirates Group delivers record annual profit Emirates Group, Dubai’s flagship aviation conglomerate, has posted record annual earnings on the back of a surge in international travel, rising cargo volumes and declining fuel costs. The state-owned group, which includes long-haul carrier Emirates airline and global airport services provider Dnata, reported a profit of AED20.5 billion ($5.6 billion) for the financial year ending […] May 8, 2025
EXCLUSIVE Real Estate Dubai Investments plans IPO before year end, says CEO Dubai Investments is preparing to sell shares in four subsidiaries to the public and may list one of them before the year end, its CEO Khalid bin Kalban has told AGBI. The government-backed company manages AED22.1 billion ($6 billion) of assets in the UAE and beyond, in sectors including real estate, construction and building materials […] April 22, 2025
Finance Dubai’s ICD could tap IPO market to fund expansion The Investment Corporation of Dubai (ICD), the principal investment arm of the emirate’s government, could potentially turn to the capital markets with a raft of listings over the next year or so, according to analysts. Established in 2006, ICD is worth about $340 billion and already has one of its crown jewels – Emirates NBD, […] April 7, 2025
