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ADNOC Drilling Awarded $733 Million Contract for Three Newbuild Island Rigs

ADNOC Drilling Awarded $733 Million Contract for Three Newbuild Island Rigs

ADNOC Drilling Company PJSC (“ADNOC Drilling” or “the Company”) (ADX symbol: ADNOCDRILL / ISIN: AEA007301012) today confirmed the award of an estimated total contract value of $733 million[1], by ADNOC Offshore, for three island drilling rigs in support of the growing operations at the offshore Zakum field.

Abdulrahman Abdulla Al Seiari, Chief Executive Officer of ADNOC Drilling, said: “ADNOC Drilling is honored to receive this substantial award, which marks a significant milestone in our company’s accelerated growth journey. These new island rigs will be the most advanced in the world, embracing artificial intelligence, the most tranformative technology of our generation.

“Our partnership with HH will amplify the creativity and ingenuity of our industry as we design and build these rigs of the future that drive efficiency and safety and deliver exceptional value for our customer ADNOC Offshore.”

Commenting on the award, Tayba Abdul Rahim Al Hashemi, Chief Executive Officer of ADNOC Offshore, said: “ADNOC Drilling’s technical expertise and enhanced capabilities are key enablers as we safely and sustainably accelerate to meet the world’s growing energy demands. This award will strengthen our partnership in the future as we work together to harness AI and innovation to maximise energy, minimize emissions and unlock significant value for stakeholders.”

The contract award will follow existing agreements with revenue underpinned by the long-term duration with guaranteed returns. The three new island rigs will operate on existing and newly constructed innovative artificial islands at the offshore Zakum field for drilling and completion of wells.

The rigs, which will be constructed by Honghua Group (HH), will incorporate industry leading technology and automation. Delivery of the rigs and commencement of operations is expected during 2026. The rigs will be designed and built as part of a partnership between ADNOC Drilling and HH. This partnership has been specifically formed to harness the transformative nature of AI, digitization, and advanced technology in the design and operation of these next generation drilling rigs. ADNOC Drilling and HH will look to also collaborate with AIQ, an Abu Dhabi based artificial intelligence (AI) pioneer contributing to the energy sector globally.

The design of the rig operating systems will look to utilize real-time condition, performance and utilization data to create actionable insights, enhancing rig performance and increasing efficiency, leading to improvements in safety and well delivery times. Additionally, drilling operations on ADNOC’s innovative artificial islands create the ideal conditions for extended reach drilling (ERD) with the top five longest wells in the world being delivered from these islands off the coast of Abu Dhabi, the most recently delivered being over 52,000 feet. The rigs will be built to deliver ERD as well as having the state-of-the-art capability of walking between wells eliminating the need for the rigs to be dismantled to be moved. These capabilities dramatically improve efficiency and safety while vastly reducing costs and emissions.

The total capital expenditure expected for the purchase of the new island rigs is approximately $210 million, mostly concentrated in 2025, with the first full-year revenue from the new rigs expected to be 2027. The full-year 2024 guidance of $200-250 million for the Island rig segment, which currently operates 10 island rigs, is unchanged. The ADNOC Drilling fleet is now expected to total at least 148 by 2026 including these three new rigs as well as the previously announced three land rigs for the initial phase of the unconventionals development. Since the fourth quarter 2021, when the IPO took place, ADNOC Drilling has invested more than $2.2 billion in building one of the largest integrated drilling fleets in the world.

About ADNOC Drilling 

 ADNOC Drilling, listed on the Abu Dhabi Securities Exchange (ADX symbol “ADNOCDRILL;” ISIN AEA007301012), is the largest drilling and well completions company in the Middle East by fleet size, owning and operating one of the largest multi-discipline drilling fleets in the world. The Company is a critical link in ADNOC’s upstream business, as ADNOC accelerates its production capacity targets and enables gas self-sufficiency for the UAE. ADNOC Drilling incorporated Integrated Drilling Services into its portfolio in 2018 and now offers a total solution of start-to-finish wells and associated services that encompass the entire drilling value chain. To find out more, visit: www.adnocdrilling.ae 

Nativex Opens Dubai Office, Bridging Chinese Investors with Middle East Travel and Real Estate

Nativex Opens Dubai Office, Bridging Chinese Investors with Middle East Travel and Real Estate

Nativex, a globally renowned digital marketing platform, is embarking on an ambitious expansion journey with the inauguration of its 18th office in Dubai Media City. With its specialized marketing solutions tailored to the real estate and travel market, Nativex’s Dubai office is strategically situated to contribute to the growth of the regional sector.

Suki Lin, Principal Director at Nativex, and Intan Agustina, Sr. Director of Client Growth, will lead the new office, bringing with them a wealth of experience and expertise in the mobile marketing industry. Their leadership will ensure that Nativex continues to deliver innovative solutions and unparalleled service to clients in the Middle East, helping them navigate the complexities of the Chinese market and achieve their business objectives.

The newly established office in Dubai will serve as a strategic base for Nativex’s operations in the Middle East, enabling the company to provide end-to-end, tailored marketing solutions to regional clients. With a focus on empowering real estate and travel & tourism businesses to connect with Chinese consumers effectively.

Empowering Middle East Businesses to Attract Chinese Investors/Customers

In an era where China plays an increasingly pivotal role in the global economy, enterprises across the Middle East are awakening to the immense potential of engaging with Chinese consumers effectively. 

Nativex’s expansion into Dubai underscores its unwavering commitment to aiding brands in the Middle East in navigating the intricate landscape of the Chinese market. This move aims to help these brands increase their brand awareness in China and attract more Chinese consumers, thereby unlocking new avenues for growth.

Expressing enthusiasm about this strategic move, Suki Lin, remarked, “The opening of our Dubai office signifies a momentous achievement for Nativex. The Middle East presents itself as a dynamic marketplace with boundless opportunities, and we are thrilled to bring our wealth of experience and expertise in China marketing to businesses across the region. Our objective is to empower brands with cutting-edge tools and invaluable insights to thrive in the Chinese market and realize their business objectives.”

Nativex Statistics:

  • Founded in 2000, Nativex has over decades of experience in digital marketing.
  • Nativex serves more than 3,000 advertisers worldwide, including Fortune 500 companies in the gaming, consumer brands, travel, and real estate sectors.

About Nativex: Nativex is a leading digital marketing platform committed to helping brands and apps achieve cross-regional growth. With a specialized focus on media buying, influencer marketing, and creative customization, we provide innovative solutions to expand our clients’ reach across global markets. As the official agent for major Chinese advertising channels like Petal Ads, Baidu, Xiaohongshu, Ocean Engine, and Weibo, Nativex leverages its global, localized service teams and extensive experience to help clients from different countries and industries achieve growth in China.

For media inquiries, please contact:

nativex@activedmc.com

ADNOC Drilling Confirms New Enhanced Dividend Policy with Minimum 10% Annual Growth for Five Years

ADNOC Drilling Confirms New Enhanced Dividend Policy with Minimum 10% Annual Growth for Five Years

ADNOC Drilling Company PJSC (“ADNOC Drilling” or the “Company”) (ADX symbol: ADNOCDRILL / ISIN: AEA007301012) announces shareholder approval of new progressive dividend policy at its General Shareholder Meeting. The new, progressive policy will see dividends grow by at least 10% per annum on a dividend per share basis over the next five years (2024-2028).

The expected cumulative minimum yield from the new policy in the period 2024-2028 is more than 27%[i]

Furthermore, the Board of Directors, at its discretion, may approve additional dividends over and above the progressive dividend policy after considering free cash flow accretive growth opportunities. Dividends are expected to be paid semi-annually with a final dividend distributed to shareholders in the first half, and the payment of the interim dividend in the second half of each fiscal year.

Commenting on the new dividend policy, Abdulmunim Saif Al Kindy, ADNOC Upstream Executive Director and Vice Chairman of ADNOC Drilling, said: “The approval of this enhanced dividend policy reflects ADNOC Drilling’s commitment to delivering increasing value to shareholders, enabled by an accelerated and multi-faceted growth strategy that embraces artificial intelligence, digitization, and advanced technologies both in the UAE and internationally. 

“ADNOC’s recent placement of an additional 5.5% of ADNOC Drilling’s share capital means there is now a greater number of shareholders to benefit from these enhanced returns.”

On May 23, 2024, ADNOC completed a $935 million institutional placement of ADNOC Drilling shares. This placement represented 5.5% of ADNOC Drilling’s total issued and outstanding share capital and increased the Company’s free float to 16.5%. 

This transaction represents the largest ever ABB (“Accelerated Book Building”) done in the MENA region so far, reflecting the strong demand from the market. 

The higher free float resulted in a higher weight in FTSE indices and is expected to provide a pathway towards inclusion in the Morgan Stanley Capital International (MSCI) Emerging Market Index, subject to the Company meeting the relevant inclusion criteria. MSCI inclusion will contribute to the diversification of the Company’s investor base and significantly broaden awareness of the unique value proposition.

ADNOC Drilling’s strategy is focused on the expansion of its fleet and the development of integrated drilling services to enable ADNOC’s production capacity growth, which includes leveraging the transformational opportunities presented by the UAE’s world-class unconventional energy resources.  ADNOC Drilling has established a new company – Turnwell – to focus on the considerable opportunities in unconventional resources, including an initial contract to deliver 144 wells and the potential for thousands more over time which are incremental to the current growth guidance. Additionally, ADNOC Drilling is actively pursuing regional growth through the expansion of its operations and potential regional acquisitions.

Through its strategic joint venture with Alpha Dhabi, Enersol, ADNOC Drilling aims to acquire and invest in global energy technologies, fostering a scalable technology ecosystem to enhance market value and improve operational efficiencies. Enersol has recently acquired a 67.2% controlling stake in Gordon Technologies, closing of the transaction is subject to customary regulatory approval, and is in the final stages of two additional transactions, with a major focus on investments that support the UAE’s wider energy security ambitions, net-zero agenda, and ongoing economic diversification efforts. These transactions would drive additional growth for ADNOC Drilling over and above the current growth outlook.

About ADNOC Drilling 

ADNOC Drilling, listed on the Abu Dhabi Securities Exchange (ADX symbol “ADNOCDRILL”; ISINAEA007301012),is the largest drilling and integrated drilling services (IDS) company in the Middle East by fleet size, owning and operating one of the largest multi-discipline drilling fleets in the world. The Company is a critical link in ADNOC’s upstream business, as ADNOC responsibly accelerates its production capacity targets in light of globally increasing demand for energy and enables the UAE’s gas growth. ADNOC Drilling incorporated IDS into its portfolio in 2018 and now offers a total solution of start-to-finish wells and associated services that encompass the entire drilling value chain.

To find out more, visit: www.adnocdrilling.ae

For media inquiries please contact: 

Iain Cracknell

Vice President, Corporate Communications 

+971 2 698 3614

For investor inquiries please contact:

Massimiliano Cominelli

Vice President, Investor Relations

+971 2 698 3383

ICAEW: GCC non-energy growth remains resilient despite oil output cuts

ICAEW: GCC non-energy growth remains resilient despite oil output cuts

The latest Economic Insight report for the Middle East, commissioned by ICAEW and compiled by Oxford Economics, predicts a slow recovery for the region in 2024 due to extended oil production curbs. The GCC growth forecast has been revised down to 2.2% from 2.7% three months ago, though non-energy sectors remain resilient, including in Bahrain and Qatar. 

The OPEC+ group’s extension of voluntary output cuts through Q3 implies a delayed recovery in GCC energy sectors. GCC oil output will now shrink by 2.6% this year instead of the 1.3% expansion forecasted three months ago. Saudi Arabia, which is cutting production to the greatest extent, will see oil activities contract by 5% this year, down from a predicted growth of 0.7% three months ago. However, as voluntary production cuts are reversed in 2025, energy sectors will begin making positive contributions to GCC growth.

Qatar’s GDP growth projection for this year stands at 2.2% and is expected to rise to 2.9% in 2025. In contrast, Bahrain’s GDP growth is 3.1% this year, but is expected to slow to 1.4% in 2025. Since Qatar is not involved in the OPEC+ production quotas, its gas sector is a priority, with authorities doubling down on the North Field gas expansion project, promising a positive medium-term impact. Bahrain, on the other hand, continues to diversify its economy and reduce reliance on oil revenues. Last year its non-oil growth grew by 3.4%, accounting for nearly 84% of GDP. 

High-frequency data paints a positive outlook for non-energy sectors across the GCC. In Saudi Arabia, investments are expected to flow into key sectors supporting giga-projects, including construction, manufacturing, and transportation. Strong momentum in the sports and entertainment sector will also be seen as the country’s transformation continues. The hospitality sector will likely follow, with tourism remaining key to Saudi’s growth agenda. Tourism is a strategic sector in other countries too, and will remain a key growth driver. Tourism activity has rebounded strongly, with record visitor numbers across the GCC in 2023, extending into this year. 

Non-oil economies will continue to grow despite the GCC’s fiscal positions deteriorating. Saudi Arabia, Bahrain, and Kuwait will likely see budget deficits this year and next as the current oil price level is below the fiscal breakeven point. However, the overall GCC budget position will likely remain in surplus, bolstered by strong financial standings and favourable credit ratings, allowing continued access to funding from capital markets and IPOs. 

Hanadi Khalife, Head of Middle East, ICAEW, said: “While geopolitical risks present headwinds for the GCC and wider Middle East, we are encouraged by the ongoing commitment to diversification and sustainability targets. Qatar, for example, became the first GCC sovereign to issue green bonds despite not having explicit net-zero targets. Bahrain is also aligning its non-oil economic growth with its Economic Vision 2030 and COP28 commitments to reduce carbon emissions by 30% by 2035.”

Scott Livermore, ICAEW Economic Advisor, and Chief Economist and Managing Director, Oxford Economics Middle East, said: “Although the region faces escalating pressures amid slowing global economies, the GCC remains relatively positive due to strong bilateral deals and investment. Qatar recently signed a 20-year supply contract with India for 7.5 million tonnes of liquefied natural gas annually, and a 27-year contract with Taiwan for 4 million tonnes. “Bahrain has also seen significant investment growth following the launch of the Golden License initiative in April 2023, which requires a minimum investment of US$50mn and the creation of at least 500 jobs. Bahrain’s financial services sector contributed nearly 18% of GDP, surpassing oil, which contributed 16%.”

The GCC inflation forecast for 2024 has been lowered by 0.3 percentage points to 2.2% this year, with a further slowdown to 2.1% expected next year. Excluding housing rents in some countries, notably Saudi Arabia, inflationary pressures remain contained, with rates below 2% in all GCC countries except Kuwait and the UAE.

Given the exchange rate pegs against the US dollar, GCC central banks tend to track the US Federal Reserve’s policy rates. The US Federal Reserve is expected to begin gradually cutting policy rates in September, totalling a 150bps reduction by the end of 2025.

ADNOC Drilling and Alpha Dhabi’s “Enersol” JointVenture Increases Equity Stake in GordonTechnologies to 67.2%

ADNOC Drilling and Alpha Dhabi’s “Enersol” JointVenture Increases Equity Stake in GordonTechnologies to 67.2%

ADNOC Drilling Company PJSC (“ADNOC Drilling” or the “Company”)(ADX symbol: ADNOCDRILL / ISIN: AEA007301012) and Alpha Dhabi Holding PJSC (‘’Alpha Dhabi’’) (ADX: ALPHADHABI) announced today that their joint venture Enersol RSC LTD (“Enersol” or the ‘’ JV’’) has agreed to acquire an additional 42.206% equity stake in Gordon Technologies LLC (“Gordon’’) for consideration of approximately $270 million, making Enersol the majority equity holder. The consideration is based on a valuation in line with the one underpinning the initial 25% stake purchase announced in January 2024.

Approximately 80% of the consideration for the 42.206% additional stake acquired by Enersol will be funded upon closing. The remaining part of the consideration is expected to be paid in the next two years, subject to certain performance conditions. Closing of the transaction is subject to customary regulatory approvals and closing adjustments.

Gordon is debt-free, and its acquisition is economically accretive to Enersol from a profitability, valuation multiple, cash flow generation and dividend potential standpoint, along with a FY2023 free cash flow yield of more than 10%.

Enersol is actively advancing plans to acquire and/or invest in multiple businesses, subject to regulatory approvals, and foster a scalable ecosystem that will enhance market value and improve operational efficiencies. A major driver of investment decisions will be the ability of those investments to support the UAE’s wider energy security ambitions, net zero agenda and ongoing economic diversification efforts.

Gordon is a leading provider of measurement while drilling (‘’MWD’’) technology to the oil and gas industry. MWD technology measures key information near the drill bit and transmits data to the surface without interrupting normal drilling operations. Gordon completed setting up its Abu Dhabi business with the intention to start field operations in the MENA region in Q2 2024.

Positioned as one of the industry’s leading fully integrated MWD providers with one of the largest fleets of modern MWD systems, Gordon enables a faster, more robust, and efficient MWD system allowing operators to achieve industry foremost performance and reliability in both conventional and unconventional as well as standard temperature and high temperature applications. With a relentless customer focus and commitment to technological innovation, Gordon recently launched rotary steerable interconnectivity systems which is continuing to drive the company’s growth.

Forbes Middle East Reveals The Top Listed Companies In Egypt

Forbes Middle East Reveals The Top Listed Companies In Egypt

Forbes Middle East has unveiled its annual Top 50 Listed Companies in Egypt ranking for 2024, showcasing the country’s most valuable and profitable players. 

The 50 listees in the 2024 ranking witnessed their sales in USD shrink by almost 20% to $26.4 billion in 2023 compared to 2022. Their total net profits decreased by 9% to $4.5 billion, and total assets fell by 18.1% to $89.4 billion, down from $109.2 billion in 2022. The aggregate market cap of these companies reached $29.4 billion as of April 26, 2024, reflecting a 3.3% decline compared to the previous year.

However, financial metrics improved in local currency, with market cap, sales, profits, and assets increasing by 49.8%, 25%, 41%, and 27% in EGP, respectively.

The list, derived from the Egyptian Exchange, ranked firms based on their sales, assets, and profits for the financial year of 2023, alongside their market value as of April 26, 2024. Each metric was given equal weight and companies with identical scores received the same rank. Companies that had not disclosed their 2023 audited financial statements as of April 26, 2023, were excluded. 

Egypt’s largest private bank, Commercial International Bank (CIB), leads the list with a market cap of $4.7 billion and $17.4 billion in assets. In 2023, CIB’s net profits soared by 83.5% to $619 million.

QNB ALAHLI and industrials titan Elsewedy Electric round up the top three, each boasting a market cap of $1.4 billion. 

The banking and financial services sector dominates the ranking with 16 entries, generating $8.4 billion in sales and holding $58.5 billion in total assets. The real estate and construction industry, along with the industrials sector, follow with nine and seven entries, respectively. Billionaire-founded Orascom Construction stands out as the nation’s largest real estate player, with a market cap of $543 million. 

Notably, the list includes only one company each from the media (Egyptian Satellite Company – Nilesat), shipping and transportation services (Alexandria Container & Cargo Handling Company), telecommunications (Telecom Egypt), and utilities (TAQA Arabia) sectors. 

Top 5 Listed Companies in Egypt 2024

1 | Commercial International Bank (CIB)

Sector: Banking & Financial Services 

2 | QNB ALAHLI 

Sector: Banking & Financial Services 

3 | Elsewedy Electric

Sector: Industrials  

4 | Telecom Egypt  

Sector: Telecommunications 

5 | Orascom Construction 

Sector: Real Estate & Construction 

Click here for the complete ranking of the Top 50 Listed Companies in Egypt 2024. 

About Forbes Middle East

Forbes Middle East is a licensed edition of Forbes for the Arab world, championing inspiring business journalism and entrepreneurial capitalism. Its online and social platforms break news covering billionaires, business, investment, technology, economy, entrepreneurship, leadership, and luxury lifestyles. The monthly magazine, featuring in-depth interviews with the Middle East’s most influential and innovative leaders, is published in print in English and Arabic, with digital versions available to both regional and global audiences online. Forbes Middle East extends the Forbes brand of journalism across the Arab world, conducting its own comprehensive research to publish original lists that adhere to strict methodologies. Its content attracts business leaders, investors, active and potential entrepreneurs, and a wide audience of ambitious and influential executives.

Forbes Middle East Unveils The Top Listed Companies In The Middle East

Forbes Middle East Unveils The Top Listed Companies In The Middle East

Forbes Middle East Unveils The Top Listed Companies In The Middle East
Meet The Region’s 100 Most Powerful Listed Firms

Forbes Middle East has revealed its annual Top 100 Listed Companies ranking for 2024, spotlighting the region’s largest, most valuable, and most profitable firms. Collectively, the 100 companies experienced a 5.1% decline in sales, dropping from $1.1 trillion in 2022 to $1 trillion in 2023. Their net profits also fell by 13.5% to $240.2 billion, and their total market value saw a slight reduction of 4.4% to $3.6 trillion as of April 2024. Nonetheless, the total value of their assets increased by 5.4% to $4.9 trillion in 2023 compared to the previous year.

To construct the list, Forbes Middle East collected data from listed stock exchanges in the Arab world and ranked firms based on their reported sales, assets, and profits for the 2023 financial year, along with market value as of April 26, 2024. Each metric was given equal weight, and companies with the same final scores were given the same rank. Companies that had not disclosed their 2023 audited financial statements as of April 26, 2024, were excluded.

GCC firms reigned the list with 92 entries, led by the U.A.E. with 32 companies, followed by 31 from Saudi Arabia. The ranking also features 14 companies from Qatar, 10 from Kuwait, four from Morocco, three from Bahrain, and two entries each from Egypt, Jordan, and Oman.

Saudi Aramco retains the top spot this year with $660.8 billion in assets and $1.9 trillion in market value. In January 2024, Aramco and Rongsheng Petrochemical announced their plans to buy stakes in each other’s units. In the same month, Aramco allocated an additional $4 billion to its global venture capital arm, Aramco Ventures, increasing its total investment allocation to $7 billion. Saudi National Bank and the International Holding Company complete the top three.

The banking and financial services sector continues to be the most represented with 45 entries generating combined sales of $223.5 billion and holding $3.3 trillion in assets. Six of the top 10 companies operate in banking and financial services. However, the energy sector, with five companies, remains the most profitable, boasting total profits of $127.5 billion, largely due to Aramco. Telecommunications and industrials are the second and third most represented sectors, with nine and seven entries, respectively.

Despite a challenging economic year for businesses globally, the 2024 list featured six newcomers: the U.A.E.’s ADNOC Gas, Borouge, PureHealth Holding, and ADNOC Logistics & Services, and Saudi’s Elm and ADES Holding. While notable dropouts include SABIC—ranked second last year—after reporting a $102.5 million loss in 2023, compared to a $6.3 billion profit in 2022.

 

Top 10 Listed Companies in the Middle East 2024

1 | Saudi Aramco

Country: Saudi Arabia

Sector: Energy

2 | Saudi National Bank (SNB)

Country: Saudi Arabia

Sector: Banks & Financial Services

3 | International Holding Company (IHC)

Country: U.A.E.

Sector: Investments

4 | QNB Group

Country: Qatar

Sector: Banks & Financial Services

5 | First Abu Dhabi Bank (FAB)

Country: U.A.E.

Sector: Banks & Financial Services

6 | Emirates NBD

Country: U.A.E.

Sector: Banks & Financial Services

6 | alrajhi bank

Country: Saudi Arabia

Sector: Banks & Financial Services

8 | TAQA Group

Country: U.A.E.

Sector: Utilities

9 | Saudi Electricity Company (SEC)

Country: Saudi Arabia

Sector: Utilities

10 | Kuwait Finance House (KFH)

Country: Kuwait

Sector: Banks & Financial Services

Click here for the complete ranking of the Top 100 Listed Companies in the Middle East 2024.

About Forbes Middle East

Forbes Middle East is a licensed edition of Forbes for the Arab world, championing inspiring business journalism and entrepreneurial capitalism. Its online and social platforms break news covering billionaires, business, investment, technology, economy, entrepreneurship, leadership, and luxury lifestyles. The monthly magazine, featuring in-depth interviews with the Middle East’s most influential and innovative leaders, is published in print in English and Arabic, with digital versions available to both regional and global audiences online. Forbes Middle East extends the Forbes brand of journalism across the Arab world, conducting its own comprehensive research to publish original lists that adhere to strict methodologies. Its content attracts business leaders, investors, active and potential entrepreneurs, and a wide audience of ambitious and influential executives.

AUS registers significant rise in QS World Rankings 2025

AUS registers significant rise in QS World Rankings 2025
AUS registers significant rise in QS World Rankings 2025

 American University of Sharjah (AUS) continues its rise internationally, placing among the top 22 percent of ranked institutions worldwide in the QS World Rankings 2025 and among top three universities in the UAE.

This new position is particularly linked to the university’s significant gains in academic reputation, where AUS improved by 17 spots, and citations per faculty, where it surged by 48 spots. The QS World Rankings 2025 evaluated 5,663 global institutions in 106 locations and ranked 1,503 institutions.

Within the UAE, AUS ranked among the top three universities, coming second in employer reputation and employment outcomes, and third in citations per faculty, international faculty and sustainability, according to the QS World Rankings 2025, which evaluated 12 institutions in the UAE.

“This achievement reflects the dedication and hard work of our faculty, students and staff. Rising in the QS World Rankings is a reflection of our academic excellence, impactful research and innovative thinking that defines AUS. It is an acknowledgment of our commitment to fostering a vibrant academic environment that nurtures intellectual growth and global citizenship. Our continued rise in international rankings highlights our strategic focus on our long-term success and global influence. The new global ranking motivates us to strive even harder to provide a world-class education and contribute significantly to the global academic community,” said Dr. Tod Laursen, Chancellor of AUS.

AUS has witnessed a significant rise in its international standing this year.  Most recently, AUS was ranked among the top 150 universities in Asia, according to Times Higher Education Asia University Rankings (2024), and among the top 125 universities in the Times Higher Education Young University Rankings 2024. It has also been ranked among the top 10 Arab universities every year for the past nine consecutive years, according to QS Arab Region University Rankings (2024).

To know more about AUS’ international rankings, visit www.aus.edu/rankings

EBRD, EU and GCF support Jordanian water bottling company

EBRD, EU and GCF support Jordanian water bottling company

In a country like Jordan, where natural water sources are among the scarcest in the region, one would think that sourcing quality water would be the main struggle for a company aspiring to establish a water bottling business. But believe it or not, for Clara, a leading Jordanian company in the sector, the main issue was finding the glass bottles needed for their production.

According to Mashal Batayneh, founder of Clara, the best way to manage scarce water is to bottle it. “When we first started our company, we wanted to seek a treasure where there is only trash. We aimed to secure 1,000 clients in our first year but to our surprise we reached our goal in just the first few months.”

Established in 2017, Clara wanted to address one issue in the country: single-use plastic waste. It also wanted to compete against the huge demand for plastic-bottled water.

Although Clara was unsure if local customers would actually switch to glass after many years of using plastic, the company still decided, against the odds, to set up its company in Jordan.

“We wanted to fight the plastic problem and encourage clients to swap to glass for their drinking water,” explained Mashal.

Things started well. The company managed to import thousands of bottles of different sizes from Türkiye but after a few years their main bottle source discontinued its production. This created a huge problem for Clara, but it eventually managed to locate a new supplier in Egypt.

Going even greener

Despite the company’s already green ethos, Mashal felt they could go even further. So, to enhance sustainability, Clara applied for a loan from the EBRD’s Green Economy Financing Facility (GEFF), through Bank al Etihad in Jordan. This loan allowed the company to purchase additional reusable glass water bottles that were not readily available in the country, and a water filtration system to increase its water production capacity.

The new system uses multiple stages, including sand, carbon, nitrate and other filters to reduce total dissolved solids (TDS) in the water. After these filtration stages, 50% of the water inputted is blended with the other 50% that is sent to the Reverse Osmosis (RO) membranes for advanced filtration, , a process that contributes to environmental conservation and efficiency of the water treatment process. Not to waste a single drop in the manufacturing process, the facility also has a greywater system attached to its production line.

Now the company is manufacturing quality water from the finest wells in Jordan’s Um Al Basateen area, using the latest technology.

Meeting customers’ needs

A great product is nothing without the customers to buy it, and so superior customer service is at the company’s core. Clara produces water that remains healthy and safe once it leaves the factory, and offers customers a range of sizes of container, from large water dispenser size to 1,040 ml and smaller 345 ml sizes.

The company also provides a pick-up service to collect customers’ bottles to clean and disinfect for reuse. And it has partnered with a waste management provider to collect broken bottles, which are shipped to the glass manufacturer to be recycled back into bottles.

Clara’s customers range from households and offices to restaurants and major five-star hotels. Mashal explains that, as the demand for sustainable tourism has grown, they have had a competitive edge as a provider of water in reusable glass bottles; hotels began looking to achieve high ratings on booking websites that encouraged tourists to “travel sustainably” and Clara had the right product.

Customers can buy Clara water through a user-friendly mobile application or get refills, and delivery is free of charge twice a week. And to reduce paper coupons for buying water bottles, Clara offers e-coupons on its app as well.

Clara prides itself on a gender-inclusive workplace where half the employees on its production line are women, whom Mashal believes are one of its pillars of success, as female staff are meticulous in inspecting every bottle from when it is filled until it’s boxed up on its way to clients.

Clara has invested around US$ 1,057,000 in this project, which helped it reduce 7 tonnes of CO2 emissions a year, or 35 per cent a year compared to the pre-investment scenario, as well as removing 195 tonnes a year of plastic bottles from the market.

As part of the project, the company received a financial incentive from the European Union, enabling Clara to reduce its investment costs.

Clara isn’t going to stop there. The company is now planning to introduce bottled sparkling and alkaline water as well as tinned water.

It is also looking to buy equipment that will increase the facility’s bottle-cleaning capacity, which in turn will help improve operational efficiency – and GEFF and the EBRD are more than ready to help.

UFC RETURNS TO MANCHESTER WITH A THRILLING WELTERWEIGHT

UFC RETURNS TO MANCHESTER WITH A THRILLING WELTERWEIGHT

 UFC® returns to Manchester on Saturday, July 27, with two UK champions defending their belts. UFC® 304: EDWARDS vs MUHAMMAD 2 is the first sporting event at Manchester’s Co-op Live, as welterweight champion Leon Edwards headlines against long-time rival Belal Muhammad in a highly anticipated rematch. The co-main event sees interim heavyweight champion Tom Aspinall go up against no.4 ranked Curtis Blaydes two years on from their first encounter. 

UFC® 304: EDWARDS vs MUHAMMAD 2 tickets go on sale from 10 a.m. BST on Friday, June 7 via Ticketmaster. Fight Club members can purchase tickets early at 9 a.m. BST on Wednesday, June 5, whilst fans who register their early interest will gain priority access at 10 a.m. BST Thursday, June 6. 

Reigning welterweight champion Leon Edwards (22-3, fighting out of Birmingham, United Kingdom by way of Kingston, Jamaica) will once again defend his title on home turf after defeating Kamaru Usman in London in March 2023. Edwards is undefeated in his last 13 bouts (12-0-0, 1NC), including a dominant title defence over Colby Covington in December. 

Belal Muhammad (23-3, fighting out of Chicago, United States) has risen to the top of the welterweight rankings, having remained undefeated for the past five years, and he looks to continue his impressive five bout win streak. This will be his 19th UFC appearance, with his most recent being an impressive decision victory over Gilbert Burns in May 2023. Known for his immense cardio and constant pressure, Muhammad holds five wins by knockout and one via submission.  

Manchester’s own Tom Aspinall (14-3, fighting out of Salford, England) is one of the most exciting athletes on the UFC roster, securing every victory by finish, including a first-round knockout of Sergei Pavlovich to claim the interim heavyweight title in November 2023. Aspinall’s lone UFC loss was via injury against Blaydes in London in July 2022 and the Mancunian will be looking to level the score in front of a home crowd for his first title defence. 

Curtis Blaydes (18-4-0, fighting out of Naperville, United States) is known for his dominant fighting style, with 13 knockout victories under his belt. In March, he stopped Jailton Almeida in his tracks and made it 13 wins in his last 17 bouts. Blaydes holds wins over Alistair Overeem, Aleksei Oleinik and Junior Dos Santos.

Additional bouts on the card include:

  • An entertainer inside and outside the Octagon, Paddy Pimblett (21-3, fighting out of Liverpool, England) will be taking on the no.15 ranked lightweight Bobby Green (32-15-1, fighting out of San Bernardino, United States).
  • Undefeated flyweight Muhammad Mokaev (12-0, fighting out of Manchester, England) takes on the well-rounded Manel Kape (19-6, fighting out of Luanda, Angola), who has won his last four bouts.
  • One of the UK’s brightest talents, Arnold Allen (19-3, fighting out of Ipswich, England) faces Giga Chikadze (15-3, fighting out of Tbilisi, Georgia) in what should be an electric featherweight bout. 
  • Looking to continue her winning momentum, Molly McCann (14-6, fighting out of Liverpool, England) faces Bruna Brasil (9-4-1, fighting out of Paranavai, Brazil) who signed to the UFC after impressing on Dana White’s Contender Series.
  • Searching for her first UFC victory, Shauna Bannon (5-1, fighting out of Dublin, Ireland) takes on Brazilian Ravena Morais (9-2-1, fighting out of Miguel Calmon, Bahia, Brazil) in what should be an exciting bantamweight bout between two strikers.
  • Two bantamweights looking for a second win this year go head to head, as Caolan Loughran (9-1, fighting out of Tyrone, Ireland), faces Ramon Taveras (10-2, fighting out of Duval County, United States).
  • Entertaining featherweights collide as Nathaniel Wood (20-6, fighting out of London, England) squares off against Daniel Pineda (28-15, fighting out of Dallas, United States), who has secured finishes in all 28 of his victories.
  • Undefeated heavyweight Mick Parkin (9-0, fighting out of Sunderland, England) faces Lukasz Brzeski (9-4-1 fighting out of Zakopane, Poland) who secured his first UFC victory in April.
  • Looking for his second UFC win in the UK, Christian Leroy Duncan (10-1, fighting out of Gloucester, England) takes on Polish striker Robert Bryczek (17-6 fighting out of Bielsko, Biala, Poland).
  • Winning his UFC debut in February, Oban Elliott (10-2, fighting out of Stroud, Wales) faces Preston Parsons (11-4 fighting out of Jacksonville, United States) who has secured nine of his 11 wins by submission.
  • Highly technical light heavyweight Modestas Bukauskas (15-6, fighting out of London, England by way of Klaipeda, Lithuania) matches up against Marcin Prachnio (17-7 fighting out of Warsaw, Poland), who holds six career wins in under two minutes.
  • Englishman Sam Patterson (11-2-1, fighting out of Watford, England) goes head to head with Irishman Kiefer Crosbie (10-4 fighting out of Dublin, Ireland) in an exciting bout between two well-rounded mixed martial artists.

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