EDGE and FAB Sign Strategic Agreement to Build a Resilient Financial Ecosystem - Middle East Business News and Information
Abu Dhabi, UAE: June 2025 – EDGE Group, one of the world's leading advanced technology and defence groups, has entered a strategic partnership with First Abu Dhabi Bank (FAB), the UAE's global bank. The agreement covers two major financial initiatives: the implementation of FAB's advanced Supply Chain Finance (SCF) solution and the deployment of its AI-powered Treasury Management System (TMS).
Hamad Al Marar, Managing Director and CEO of EDGE said: 'Our partnership with FAB is a strategic enabler of EDGE's global industrial ambitions. It reinforces the financial architecture required to operate at scale, with speed and resilience. In an increasingly competitive and complex environment, this alignment ensures we remain agile, well-capitalised, and positioned for sustained international growth.'
Martin Tricaud, Group Head of Wholesale Banking at First Abu Dhabi Bank (FAB), said: 'FAB's partnership with EDGE marks a step forward in building a more resilient supplier ecosystem. We recognise that effective cashflow and supply chain finance are fundamental to sustainable business models. By combining our global expertise with innovative financial solutions, we are enhancing financial agility and enabling long-term value creation.'
Through FAB's digital SCF solution, EDGE provides local and international suppliers access to early, low-cost financing, which enhances supplier trust, improves commercial terms, and ensures continuity across critical operations. EDGE's deployment of FAB's AI-powered TMS represents the largest to date. The solution delivers real-time cash visibility, advanced forecasting capabilities, and integrated risk management tools, enabling EDGE to automate treasury operations and optimise liquidity across the Group. The platform provides protection for interest rate risk and FX risk, while improving financial agility, investment planning, and funding.
Rodrigo Torres, Group Chief Financial Officer of EDGE, said: 'This partnership reflects EDGE's commitment to embedding financial sophistication and innovation at the core of our operations. By integrating FAB's advanced SCF and AI-powered TMS platforms, we are optimising liquidity and supplier performance while also reinforcing our ability to manage risk and scale with confidence. To date, over AED 1.6 billion in invoices have been processed, unlocking more than AED 1.2 billion in off-balance sheet financing. These solutions enable real-time cash control, intelligent forecasting, and stronger financial governance across the Group – all of which are critical to supporting our long-term growth strategy and industrial objectives.'
About EDGE:
Launched in November 2019, the UAE's EDGE is one of the world's leading advanced technology groups, established to develop agile, bold and disruptive solutions for defence and beyond, and to be a catalyst for change and transformation. It is dedicated to bringing breakthrough innovations, products, and services to market with greater speed and efficiency, to position the UAE as a leading global hub for future industries, and to creating clear paths within the sector for the next generation of highly-skilled talent to thrive.
With a focus on the adoption of 4IR technologies, EDGE is driving the development of sovereign capabilities for global export and for the preservation of national security, working with front-line operators, international partners, and adopting advanced technologies such as autonomous capabilities, cyber-physical systems, advanced propulsion systems, robotics and smart materials. EDGE converges R&D, emerging technologies, digital transformation, and commercial market innovations with military capabilities to develop disruptive solutions tailored to the specific requirements of its customers. Headquartered in Abu Dhabi, capital of the UAE, EDGE consolidates more than 35 entities into six core clusters: Platforms & Systems, Missiles & Weapons, Space & Cyber Technologies, Trading & Mission Support, Technology & Innovation, and Homeland Security.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mid East Info
4 hours ago
- Mid East Info
Chestertons MENA Reveals Dubai's Top 6 Residential Hotspots, Ideal for First-Time Buyers with Rental Yields Up to 7.39%
Backed by market intelligence and investor trends, the renowned global property consultancy has pinpointed the top six communities redefining Dubai's residential market, each offering strong capital growth potential and attractive rental yields Dubai, UAE: Founded in 1805, Chestertons is one of the world's most established and trusted real estate advisory firms with a strong presence in the UAE since 2008. Empowering both end-users and investors to make informed property decisions, the respected consultancy has shared key insights on the top six emerging residential communities in Dubai: Jumeirah Village Circle (JVC), DAMAC Island, Downtown Dubai, Dubai Marina, Meydan City, and Dubai South. The findings show that while central areas remain in demand, suburban master-planned communities are delivering strong rental yields and attracting growing interest from both local and international investors. Data Snapshot: Among the top six residential communities, JVC, DAMAC Island, Downtown Dubai, Meydan City, Dubai Marina, and Dubai South have all recorded rising transaction volumes, boosted by a combination of well-priced inventory, improving infrastructure, and increasing rental yields. As the most affordable of the six, DAMAC Islands averages at AED 823 per sq. ft., with a yield of 7.38%, largely driven by attractive off-plan pricing and high-return early investment opportunities. Dubai South follows at AED 1,035 per sq. ft. and a rental yield of 6.77% while JVC prices average at AED 1,238 per sq. ft., with strong rental yields around 7.39%, making it particularly popular among younger tenants and first-time buyers. Meanwhile, Dubai Marina offers a more central location at AED 1,757 per sq. ft. and returns close to 6.24%. Downtown Dubai commands the highest average price at AED 2,504 per sq. ft., delivering a solid 6% return in a sought-after, high-profile location. In contrast, Meydan City presents a compelling option for value-seekers, averaging AED 1,915 per sq. ft. and yields of 7.14%, supported by ongoing infrastructure upgrades and spacious layouts. Behind the rise of these communities is a larger shift in Dubai's urban planning, with limited central land giving way to the development of more suburban master-planned zones. Developers like Emaar and Binghatti continue to launch high-appeal projects, while government entities such as the RTA and Dubai Land Department work together to ensure long-term viability. Additionally, recent updates across the property market have helped increase access for different buyer profiles. Notably, first-time buyers are benefiting from initiatives like reduced down payment requirements and easier mortgage approvals through developer-bank partnerships. Mania Merrikhi, Chief Operating Officer and Managing Director of Chestertons MENA, shared, 'At Chestertons, we've seen Dubai evolve into a powerhouse for real estate investment, and initiatives like the D33 agenda are set to drive even greater economic and urban growth over the next decade. At the same time, attention is shifting towards other emirates, particularly Abu Dhabi, where high-profile developments and infrastructure projects are opening up exciting new opportunities for investors.' Mohamed Mussa, Executive Director of Chestertons MENA, added, 'Government support continues to play a vital role in shaping the UAE's real estate market, with various entities rolling out buyer-friendly regulations and initiatives that make it easier for first-time buyers to enter the market. Notably, these developments are attracting a new wave of international and family-oriented investors. Looking forward, we anticipate particularly strong demand for full-service, master-planned communities that deliver on lifestyle, convenience, and value.' As Dubai's residential market continues to evolve, the spotlight is shifting towards communities that combine value, lifestyle, and long-term potential. With deep market insight and a legacy of trust, Chestertons MENA remains a reliable partner for those looking to navigate this shifting landscape with clarity and confidence. With a legacy spanning over 220 years, Chestertons is one of the world's most established and respected real estate advisory firms. Founded in London in 1805 by Charles Chesterton, the company has built a reputation for trust, integrity, and expertise, offering tailored advice to clients across the globe. As a founding member of the Royal Institution of Chartered Surveyors (RICS), Chestertons combines its rich heritage with a forward-thinking approach, providing a full suite of services including residential and commercial brokerage, valuation and advisory, building consultancy, property management, and market research. In the UAE, Chestertons has been active since 2008, with its regional headquarters now based in Marina Plaza, Dubai Marina. The firm is home to a dynamic team of over 90 experts who bring together international experience and local insight to support developers, investors, landlords, and occupiers. With a history of success built over generations, Chestertons delivers intelligent, personalised solutions that generate long-term value.
Mid East Info
6 hours ago
- Mid East Info
Tabreed Proposes First-Ever Interim Dividend as Revenue Hits AED 1.11 Billion in H1 2025 Following Record Capacity Growth
Revenue rises 3% year-on-year to AED 1.11 billion, driven by higher cooling demand and significant capacity additions across key markets Net profit rises 2.5% year-on-year to AED 276 million, supported by continued business growth and robust EBITDA margins Board proposes first-ever interim dividend of 6.5 fils per share for H1 2025 Tabreed adds a record 41.6k RT in H1 2025 – almost twice the capacity added in full-year 2024 – to reach 1.37 million RT with major contributions from the UAE and Saudi Arabia PAL Cooling acquisition set to add 182k+ RT, securing long-term growth pipeline of up to 600k RT across Abu Dhabi Refinancing strengthens financial position; robust free cash flow enables investment in growth, improves leverage and supports dividend payout Abu Dhabi, United Arab Emirates – August 2025: National Central Cooling Company PJSC (DFM: TABREED / ISIN: AEA002201018), the world's leading and most diversified district cooling company, today announced the results for the six-month period ended 30 June 2025, reporting revenues of AED 1.11 billion and a net profit of AED 276 million. The results reflect strategic momentum across Tabreed's platform, with improved margins, cost discipline and sustained demand, laying the foundation for continued growth. Group revenue rose to AED 1.11 billion in H1 2025, marking a 3% year-on-year increase driven by higher cooling demand and significant capacity additions across key markets. Consumption volumes grew 3% year-on-year in H1 2025 and accelerated to 8% year-on-year in Q2 2025, reflecting both seasonal uplift and growing utilisation across Tabreed's network. Net profit for the first half rose to AED 276 million, a 2.5% increase compared to the first half of 2024. The uplift reflects continued scale benefits and disciplined cost control, alongside margin expansion as EBITDA rose 5% to AED 632 million, with margins improving to 57%. Reflecting its strong financial position and continued cash generation, Tabreed's Board of Directors proposed an interim dividend of 6.5 fils per share for the first half of 2025, or 67% payout based on H1 2025 net profit. This marks the first interim dividend in the company's history and reflects the Board's confidence in Tabreed's performance, outlook and ability to deliver sustainable long-term value. The payment of dividend remains subject to shareholders approval at the General Assembly Meeting expected to be convened in September 2025. Total connected capacity reached 1.37 million Refrigeration Tons (RT), with 41.6k RT of record high organic capacity added during the period, nearly double the full-year total in 2024. This growth was led by 18k RT of new connections in the UAE and 23.6k RT across regional markets, reinforcing Tabreed's position as a cross-regional operator. Following a period of strong operational growth, Tabreed advanced its strategic agenda in June with the announcement that, in a 50:50 joint venture with CVC DIF, the company is to acquire PAL Cooling Holding from Multiply Group. The deal, which remains subject to customary regulatory approvals, is set to add more than 182k RT, increase pro forma connected capacity to 1.55 million RT (+13%) and includes eight concessions with total planned capacity of up to 600k RT. The deal would also expand Tabreed's long-term concession base and customer network, including a new relationship with Modon, and contribute to a secured future capacity pipeline of more than one million RT, equivalent to 80% of current connected capacity. Complementing this landmark development, Tabreed's portfolio continued to grow, with the commissioning of three new greenfield plants during the first half – in local and regional markets, with a combined capacity of 28.6k RT. Developed to meet rising demand in fast-growing urban and industrial hubs, these new facilities reinforce Tabreed's ability to scale operationally while deepening its presence in both core and international markets. Progress also continued on the company's largest-ever greenfield project at Palm Jebel Ali, a 250k RT exclusive concession secured in partnership with Dubai Holding Investments. Together, the PAL Cooling acquisition and Palm Jebel Ali concession represent the two biggest strategic deals in Tabreed's history, expanding the company's total site capacity to approximately 2.6 million RT and reinforcing its platform for long-term, capital-efficient growth and cash flow visibility. With a strong pipeline, long-term concessions and expanding geographical reach, Tabreed remains well positioned to deliver sustained growth through the remainder of 2025 and beyond. Commenting on the results, Dr. Bakheet Al Katheeri, Tabreed's Chairman, said: 'Tabreed continues to demonstrate the strength and scalability of its platform, delivering solid financial results while advancing its long-term growth agenda. The record capacity additions in H1 2025, following landmark transactions, including the Palm Jebel Ali development and strategic acquisition of PAL Cooling, reinforce our position as a cross-regional operator and infrastructure partner with a clear mandate for value creation. As a Board, we remain focused on capital discipline and sustainable returns, and this balance between growth and value creation is reflected in our decision to propose Tabreed's first-ever interim dividend.' Tabreed also made significant progress on its refinancing during the first half, strengthening its balance sheet and enhancing financial flexibility. In Q1, the company issued a USD 700 million Green Sukuk under its Green Finance Framework, successfully refinancing near-term maturities at a competitive profit rate and improving its liquidity profile. Tabreed has a robust financial position, underscored by investment grade credit ratings from both Moody's and Fitch. Free cash flows reached AED 973 million over the past 12 months, translating to a 11.5% yield, supported by strong collections, margin stability and disciplined capital allocation. As a result, net debt to EBITDA improved to 3.7x, down from 4.2x a year earlier. Commenting on the company's performance, Khalid Al Marzooqi, Tabreed's Chief Executive Officer, said: 'The signing of the PAL Cooling acquisition represents a defining milestone, not just for Tabreed's footprint in Abu Dhabi, but for our long-term evolution as a critical infrastructure partner to cities, industries and digital ecosystems across the region. Tabreed today is more than a utility, we're building a high-performing, future-ready platform that delivers recurring value, with sustainability, efficiency and scale at its core. With visibility over a planned total capacity of approximately 2.6 million RT, we're focused on capital efficiency, operational excellence and preparing the business to lead in new markets and sectors where district cooling plays an essential role.' Tabreed's commitment to sustainability also advanced during the first half, reinforcing its role as a long-term partner in the region's energy transition. As part of its Green Finance Framework, the company continued integrating renewable energy into its operations, including the installation of solar farms at two plants in collaboration with the UAE Ministry of Defence. Tabreed also played an active role in the World Utilities Congress, Abu Dhabi's flagship utilities event, contributing to conversations around low-carbon infrastructure and emerging technologies such as geothermal cooling, in line with its ambition to enhance energy efficiency, reduce emissions, and support national decarbonisation goals. About National Central Cooling Company PJSC Tabreed Tabreed provides essential and sustainable district cooling services to iconic developments such as the Burj Khalifa, Sheikh Zayed Grand Mosque, Louvre Abu Dhabi, Ferrari World, Emirates Towers, Yas Island, Al Maryah Island, Dubai Mall, Dubai Opera, Dubai Metro, Bahrain Financial Harbor and the Jabal Omar Development in the Holy City of Makkah. The company owns and operates 94 plants in its portfolio across the GCC, including 76 in the United Arab Emirates and 18 in regional markets. Tabreed is a leading driver of progress for people, communities, and environments around the world towards a more sustainable future. Founded in 1998 and publicly listed on the Dubai Financial Market, it is one of the UAE's strongest growth companies. Through its extensive regional and international operations, industry-leading reliability and efficiency, R&D programmes and investment in AI technology, Tabreed further solidifies its position as the industry's global leader. In addition to district cooling, Tabreed's energy efficiency services extend the company's sustainability impact, helping businesses and organisations to improve their overall energy consumption, in turn reducing CO 2 emissions and assisting in the achievement of carbon neutrality objectives.
Mid East Info
8 hours ago
- Mid East Info
Salama Announces Robust H1 2025 Performance Driven by Profitability and Equity Growth
Dubai, August , 2025 – Salama DFM: 'SALAMA', a leading regional Takaful provider, today announced its interim consolidated financial results for the six-month period ended June 30, 2025. The Company reported a positive profit in the first six months of 2025 and continued strengthening of its balance sheet, driven by a significant rebound in profitability during the second quarter of 2025. Net profit for the period stands at AED 8.25 million, demonstrating continued profitability and positive operational momentum, driven by AED 7.86 million profit in Q2 2025, a substantial increase from AED 2.95 million in Q2 2024. Takaful revenue was recorded at AED 515.36 million in the first six months of 2025, compared to AED 528.59 million in the same period in 2024. Total Equity increased by 5.2 percent to AED 351.84 million as of June 30, 2025, from AED 334.38 million as of December 31, 2024, driven by profit generation and a reduction in accumulated losses to AED 440.68 million by June 30, 2025 from AED 443.86 million by the end of 2024. Bank balances and cash significantly improved to AED 214.44 million from AED 148.77 million at year-end 2024, reflecting robust cash management. Takaful service expenses saw a significant reduction, aligning with the Company's commitment to operational efficiency. Total comprehensive income further improved to AED 19.57 million, compared to a loss of AED 19.7 million in the same period in 2024, reflecting improving economic conditions in key markets and positive foreign currency adjustments at the subsidiary level. H.E. Fahad AlQassim, Chairman of Salama, stated: 'Salama has demonstrated improved equity, enhanced liquidity and better solvency in the first six months of 2025, underscored by significant quarter-on-quarter increase in performance. As we continue to strengthen our balance sheet, we remain focused on our ongoing efforts in streamlining Salama's next phase of growth. At Salama our initiatives are centred on building a more resilient foundation that enhances development of the economy, empowers our customers and delivers meaningful impact to society, aligning with the UAE's progressive vision.' Mohamed Ali Boubane, Group Chief Executive Officer at Salama, said: 'We are pleased to report a strong performance in the second quarter of 2025 for Salama, which has significantly contributed to our overall profitability for the first half of the year. Our strategic focus on operational efficiency and prudent financial management is yielding positive results, underpinned by the substantial increase in our cash reserves and continue to strengthen of our equity base. We remain committed to delivering excellence in customer-centric products, innovating our Takaful offerings, and upholding our promise to policyholders and shareholders. The positive momentum positions us well for the remainder of the year as we continue to navigate the market with agility, disciplined underwriting, digital innovation, and strategic foresight to further solidify Salama's position as a regional Takaful leader.' As one of the world's largest and longest-established Takaful providers, Salama is committed to increasing access to Shariah-compliant insurance solutions in the region to create enduring value for customers. Recently, the Company collaborated with to increase life insurance penetration in the UAE over digital channels. Salama's long-term issuer credit and insurer financial strength rating was affirmed at 'BBB-' by S&P Global Ratings with a Developing outlook. About Salama Islamic Arab Insurance Company: Salama Islamic Arab Insurance Company (Salama) is one of the world's largest and longest-established Shariah-compliant Takaful solutions providers listed on the Dubai Financial Market, with paid-up capital of AED 939 million. Since its incorporation in 1979, Salama has been a pioneer in the Takaful industry, having won many industry awards and accolades. Salama's stability and success can be attributed to its customer-centric approach that keeps its customers and partners at the heart of the business, while staying committed to its Takaful principles. The company is recognised for providing the most competitive and diverse range of family, motor, general and health Takaful solutions that meet the ever-changing demand of its individual and corporate customers in the UAE and, through its extensive network of subsidiaries and associates, in Egypt and Algeria. As the preferred Takaful provider for its partners and customers, Salama remains committed to shaping tomorrows, together.
