Latest news with #TahnoonBinZayedAlNahyan
Gulf Today
10-04-2025
- Business
- Gulf Today
Cabinet clears Google Cloud's Cybersecurity Center in UAE
In a reflection of the United Arab Emirates Government's vision to cement its global position as a leading hub for artificial intelligence and to strengthen international collaboration, UAE institutions continue to pursue the directives of the country's wise leadership in maintaining the nation's global leadership in technological and digital fields. This pursuit is embodied in the strategic steps being taken to reinforce digital infrastructure and develop national capabilities in AI and cybersecurity. As part of these ongoing efforts, the UAE Cabinet has approved its support of Google Cloud's launch of its first Cybersecurity Excellence Center in Abu Dhabi-an initiative that underscores the UAE's commitment to advancing digital transformation and bolstering cybersecurity. This strategic initiative with Google Cloud is aligned with the vision of the nation's leadership to position the UAE as a global hub for cybersecurity excellence. The initiative highlights the government's dedication to support the building of a secure and advanced digital ecosystem that keeps pace with global developments and provides a trusted environment for businesses, enterprises, and institutions across all sectors. It also reflects the country's broader strategy to invest in emerging technologies and empower national talents, ensuring regional and global leadership in the field of cybersecurity and artificial intelligence. This milestone follows the official visit of Sheikh Tahnoon Bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and National Security Adviser, to the United States, where His Highness met with a number of global industry leaders and CEOs to explore avenues for building and expanding strategic partnerships with UAE in artificial intelligence. These discussions focused on AI's potential to accelerate sustainable growth, enhance global innovation, and advance digital infrastructure. In line with these continuous efforts, the UAE Cybersecurity Council, in collaboration with Google Cloud, announced this strategic initiative aimed at supporting the UAE's position as a global leader in cybersecurity innovation and education. This initiative, supported by the Cybersecurity Council, will see the establishment of the first-ever Cybersecurity Excellence Center in the region. The launch of this pioneering centre in Abu Dhabi is a tangible outcome of the UAE's future-oriented vision, which aims to strengthen the nation's resilience against cyber threats, support secure digital transformation, and further establish the UAE as a global hub for innovation and technology. WAM
Bloomberg
21-03-2025
- Business
- Bloomberg
UAE to Pledge $1.4 Trillion US Investment After Trump Meeting
The United Arab Emirates will invest $1.4 trillion in the United States following a meeting earlier this week between President Donald Trump and Sheikh Tahnoon Bin Zayed Al Nahyan, the UAE's national security adviser, a White House official said. The official, speaking on the condition of anonymity before the deal was announced publicly, did not say whether the agreement would include access to cutting-edge chips from companies including Nvidia Corp. currently under export restrictions. But the Emiratis have been seeking to boost investment in US technology and energy in a bid to unlock the ability to purchase those semiconductors as part of a push to become a regional artificial intelligence leader.
Bloomberg
18-03-2025
- Business
- Bloomberg
Trump to Host Top UAE Official for Chips, Investment Talks
US President Donald Trump is expected to host a senior UAE official for dinner Tuesday at the White House, as the Gulf nation pushes to ease access to US technology by investing in the country. Sheikh Tahnoon Bin Zayed Al Nahyan, the UAE's national security adviser and brother of the nation's president, is slated to speak to Trump about a range of issues, such as increasing Emirati investment in the US, technology and energy, according to people familiar with the meeting who requested anonymity because it was not publicly announced.
Zawya
13-03-2025
- Business
- Zawya
FAB's shareholders approve highest-ever dividends of $2.26bln for 2024
Abu Dhabi – The equityholders of First Abu Dhabi Bank (FAB), during the annual general meeting approved the distribution of AED 8.30 billion in cash dividends for 2024. The approved amount is equivalent to 75 fils per share and will be disbursed for the shareholders registered on 21 March 2025; those purchasing shares on or before 19 March 2025, according to a press release. In addition to approving FAB's highest-ever cash dividend payout, the shareholders underlined a period of consecutive annual revenue growth and improved profitability, demonstrating steady progress against the FAB Group strategy as the UAE's global bank. Chairman of FAB, Sheikh Tahnoon Bin Zayed Al Nahyan, said: 'FAB's performance in 2024 cements consecutive years of expanded scale and improved profitability, demonstrating steady progress against our group strategy as the UAE's global bank, expanding capabilities and driving sustainable growth.' Al Nahyan added: 'The bank's strong performance reflects also the resilience of the national economy and the country's position as a leading global financial hub.' He added: 'FAB has played to its unique strengths at home to extend its position as the undisputed market leader in the UAE, while leveraging the competitive advantage of an international franchise that connects clients to the vast majority of the UAE's trade flows.' The Chairman noted: 'Looking ahead, FAB will remain vital to driving the UAE leadership's future vision, fostering sustainable growth and innovation, and connecting local, regional, and international economies within a world-class financial ecosystem.' 'Our region continues to grow and expand, and the opportunities to link the UAE and the Middle East with the rest of the world are immense. As the UAE's global bank, FAB's strategy is designed to help our clients maximise those opportunities, and has produced robust results in the UAE, our thriving home market and the foundation of our growth, while powering the expansion of our international franchise,' Al Nahyan commented. He concluded: 'In 2024, we achieved a net profit of AED 17.10 billion and revenue of AED 31.60 billion. Profit before tax was up 13% to AED 19.90 billion, and we continued to deliver greater value to our clients in line with our strategic goals as the UAE's global bank.' FAB's profit before tax in 2024 was driven by higher client activity, strong business volumes, diversified income streams, and continued operational efficiencies. This strong performance positions FAB for continued success and growth, reflecting its ability to capitalize on market opportunities and deliver sustained value to its shareholders. The bank has made strides in expanding its presence across 20 global markets, fostering stronger client relationships in key economic centers. This expansion has fueled growth in customer deposits and loans, resulting in double-digit revenue increases across the GCC, North Africa, Asia, and Europe, and Americas. In 2024, FAB launched its AI Innovation Hub with Microsoft, further accelerating AI adoption in banking by forming key partnerships with global AI leaders, including Microsoft, G42, and Presight. The bank's digital growth is evident, with a 46% increase in digital transactions and over 96% of service requests now processed digitally. Source: Mubasher
Zawya
12-03-2025
- Business
- Zawya
FAB shareholders approve highest-ever cash dividend of AED 8.3bln at Annual General Meeting
FAB revenues reached a record AED 31.6 billion in 2024, up 15% year on year, with all key divisions delivering growth Return on Tangible Equity (RoTE) of 16.8% firmly in line with the medium-term guidance Abu Dhabi: First Abu Dhabi Bank (FAB) held its Annual General Meeting (AGM) today at its headquarters in Abu Dhabi. All agenda items were reviewed and approved, including the distribution of AED 8.3 billion in cash dividends for the financial year ending 31 December 2024 (75 fils per share). Shareholders registered on 21 March 2025 (i.e., those purchasing shares on or before 19 March 2025) will be eligible for the cash dividends. In addition to approving the bank's highest-ever cash dividend payout, the AGM underlined a period of consecutive annual revenue growth and improved profitability, demonstrating steady progress against the FAB Group strategy as the UAE's global bank. FAB's profit before tax increased by 13% year on year, reaching AED 19.9 billion, driven by higher client activity, strong business volumes, diversified income streams, and continued operational efficiencies. This strong performance positions FAB for continued success and growth, reflecting its ability to capitalize on market opportunities and deliver sustained value to its shareholders. The bank has made remarkable strides in expanding its presence across 20 global markets, fostering stronger client relationships in key economic centers. This expansion has fueled growth in customer deposits and loans, resulting in double-digit revenue increases across the GCC, North Africa, Asia, and Europe & Americas. Complementing this geographic growth, FAB has strategically invested in talent, advanced systems, and invested in innovative technologies, all while maintaining a disciplined risk management approach. In 2024, FAB launched its AI Innovation Hub with Microsoft, further accelerating AI adoption in banking by forming key partnerships with global AI leaders, including Microsoft, G42, and Presight. The bank's digital growth is evident, with a 46% increase in digital transactions and over 96% of service requests now processed digitally. His Highness Sheikh Tahnoon Bin Zayed Al Nahyan, Chairman of FAB, said: 'First Abu Dhabi Bank's (FAB's) performance in 2024 cements consecutive years of expanded scale and improved profitability, demonstrating steady progress against our Group strategy as the UAE's global bank, expanding capabilities and driving sustainable growth. The bank's strong performance reflects also the resilience of the national economy and the country's position as a leading global financial hub. FAB has played to its unique strengths at home to extend its position as the undisputed market leader in the UAE, while leveraging the competitive advantage of an international franchise that connects clients to the vast majority of the UAE's trade flows.' 'Being the bank best able to support the bold growth and investment plans of an ambitious country has transformed FAB from a domestic giant into a global financial powerhouse. Looking ahead, FAB will remain vital to driving the UAE leadership's future vision, fostering sustainable growth and innovation, and connecting local, regional, and international economies within a world-class financial ecosystem.' said: 'Our region continues to grow and expand, and the opportunities to link the UAE and the Middle East with the rest of the world are immense. As the UAE's global bank, FAB's strategy is designed to help our clients maximise those opportunities, and has produced robust results in the UAE, our thriving home market and the foundation of our growth, while powering the expansion of our international franchise.' 'In 2024, we achieved a net profit of AED 17.1 billion and a revenue of AED 31.6 billion. Profit before tax was up 13% to AED 19.9 billion, and we continued to deliver greater value to our clients in line with our strategic goals as the UAE's global bank. 'Looking ahead, our solid balance sheet fundamentals and diversified business model position us well to continue to deliver profitable growth and achieve our return targets. We will continue to invest in talent, technology and innovation to enhance our services, drive efficiencies and grow our competitive edge. In doing so, we will sharpen our focus on consistently delivering strong, sustainable shareholder returns firmly aligned with medium term guidance of above 16%'. In addition to approving the Board of Directors report, the external auditors report and Internal Shari'ah Supervision Committee annual reports for FY 2024, the AGM agenda included notifications on payable Zakat for 2024, approval of the bank's balance sheet and profit and loss statement for 2024, and appointments for auditors and Internal Shari'ah Supervision Committee members for 2025.
