Abu Dhabi Financial Group, an alternative investment company with around US$6 billion in assets, has set up new headquarters in Abu Dhabi Global Market, the emirate's financial free zone on Al Maryah Island, as part of expansion plans, it said on Sunday.
“ADGM offers us a strategic location and the certainty of a professional environment benchmarked against globally recognised standards,” said Jassim Alseddiqi, chief executive of ADFG.
Investment companies in the Arabian Gulf are looking at consolidations and acquisitions to diversify their activities at present.
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ADFG, which has interests in financial services ranging from Islamic banking to equities fund management, has embarked upon a growth strategy after doubling its revenue in 2016 compared to 2015.
The company is the majority stakeholder in Dubai-based investment bank Shuaa Capital, the biggest investor in Bahraini Islamic investment group GFH, and the second-largest shareholder in Abu Dhabi’s Eshraq Properties.
ADFG said last March it was planning further acquisitions in the Arabian Gulf to grow its portfolio.
Adcorp, its new $100 million Islamic investment bank, was incorporated in ADFG in November 2016; ADFG also plans to launch a Sharia-compliant real estate investment trust, Etihad Reit, in the first half of this year pending regulatory approvals, after delaying its launch from 2017.
Mr Alseddiqi said the move to ADGM from previous offices in Abu Dhabi “marks another significant milestone for ADFG in what has been a period of outstanding growth for the business”.
“We now have over $6bn of assets under management having completed several strategic investments and acquisitions, in line with our investment strategy to unlock value for our shareholders.”
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The Beach Bum
Director: Harmony Korine
Stars: Matthew McConaughey, Isla Fisher, Snoop Dogg
Two stars
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The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
Sustainable Development Goals
1. End poverty in all its forms everywhere
2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture
3. Ensure healthy lives and promote well-being for all at all ages
4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all
5. Achieve gender equality and empower all women and girls
6. Ensure availability and sustainable management of water and sanitation for all
7. Ensure access to affordable, reliable, sustainable and modern energy for all
8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
9. Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation
10. Reduce inequality within and among countries
11. Make cities and human settlements inclusive, safe, resilient and sustainable
12. Ensure sustainable consumption and production patterns
13. Take urgent action to combat climate change and its effects
14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development
15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss
16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels
17. Strengthen the means of implementation and revitalise the global partnership for sustainable development
Another way to earn air miles
In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.
An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.
“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.
Rebel%20Moon%20%E2%80%93%20Part%20Two%3A%20The%20Scargiver%20review%20
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The Penguin
Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz
Creator: Lauren LeFranc
Rating: 4/5
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INDIA'S%20TOP%20INFLUENCERS
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Second Test, Day 2:
South Africa 335 & 75/1 (22.0 ov)
England 205
South Africa lead by 205 runs with 9 wickets remaining
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
if you go
The flights
Etihad and Emirates fly direct from the UAE to Seoul from Dh3,775 return, including taxes
The package
Ski Safari offers a seven-night ski package to Korea, including five nights at the Dragon Valley Hotel in Yongpyong and two nights at Seoul CenterMark hotel, from £720 (Dh3,488) per person, including transfers, based on two travelling in January
The info
Visit www.gokorea.co.uk
The Buckingham Murders
Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu
Director: Hansal Mehta
Rating: 4 / 5
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MATCH INFO
Jersey 147 (20 overs)
UAE 112 (19.2 overs)
Jersey win by 35 runs
Our Time Has Come
Alyssa Ayres, Oxford University Press
DEADPOOL & WOLVERINE
Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin
Director: Shawn Levy
Rating: 3/5
COMPANY%20PROFILE
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Brief scores
Barcelona 2
Pique 36', Alena 87'
Villarreal 0
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