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Alpha Dhabi Q1 profit jumps 81 per cent on diversified portfolio growth

Alpha Dhabi’s net profit in Q1 2026 stood at Dhs3.8bn up 81 per cent from the same period in 2025.

Neesha Salian
Neesha Salian

05 May, 2026

Alpha Dhabi Q1 profit jumps 81 per cent on diversified portfolio growth
Image: Alpha Dhabi/ X

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Article Summary
Alpha Dhabi Holding's Q1 2026 net profit surged 81% year-on-year to Dhs3.8bn, driven by a diversified investment portfolio. Revenue increased by 8% to Dhs18.8bn. The Abu Dhabi-listed company highlighted its strategic partnerships, diversification, and focus on growth markets as key factors contributing to its strong performance across real estate, industrial operations, construction and services.

Alpha Dhabi Holding said its Q1 2026 net profit rose 81 per cent year-on-year, driven by growth across its diversified investment portfolio.

The Abu Dhabi-listed investment company reported net profit of Dhs3.8bn in the quarter, compared with Dhs2.1bn a year earlier. Revenue rose 8 per cent to Dhs18.8bn.

Adjusted EBITDA increased 2 per cent to Dhs4.3bn. Total assets stood at Dhs225.8bn, with total equity at Dhs104.9bn.

Revenue included Dhs7.4bn from real estate, Dhs6.6bn from industrial operations, Dhs2.7bn from construction, and Dhs2.1bn from services and other businesses.

Alpha Dhabi entered 2026 on a strong footing

Chairman Mohamed Thani Murshed Ghannam Al Rumaithi said the company entered 2026 with continued strength.

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“Alpha Dhabi has entered 2026 with continued strength and resilience, building on our proven strategy and disciplined execution. Our performance is a direct reflection of the UAE’s thriving and stable market, showcasing the robustness of our diversified portfolio and our ability to capture value across high-growth sectors and geographies,” he said.

Managing director and group CEO Hamad Al Ameri said the results reflected the group’s investment strategy.

“Our Q1 2026 results reinforce the strength of Alpha Dhabi’s investment strategy. The solid economic fundamentals on which the UAE is built upon serves us with a confident environment in which we can execute our vision. Through continued diversification, strategic partnerships, and a focus on future-facing industries, Alpha Dhabi has sustained strong performance and created long-term value for our stakeholders,” he said.

The company said its performance was supported by continued momentum across its businesses in real estate, construction, industrials and services.

Alpha Dhabi said it remains focused on diversification, expansion into growth markets and disciplined capital allocation.

Read: Alpha Dhabi acquires majority stake in NCTH

UAE air defences intercept fresh wave of missiles and drones

Authorities urge residents to remain indoors and follow official guidance

Gareth van Zyl
Gareth van Zyl

05 May, 2026

UAE air defences intercept fresh wave of missiles and drones

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The UAE’s air defence systems have been actively intercepting a missile and drone threat on Tuesday evening.

The Ministry of Defence said the sounds heard across various parts of the UAE were the result of its air defence systems engaging and intercepting ballistic missiles, cruise missiles and drones.

The latest developments come less than 24 hours after a series of alerts were issued on Monday — the first since the US-Iran ceasefire that began on April 8.

Four alerts in one day

On Monday afternoon, multiple missile alerts were triggered across the UAE, beginning amid heightened tensions around the Strait of Hormuz, a critical global shipping route.

Earlier in the day, the UAE condemned a drone attack on an ADNOC-affiliated oil tanker transiting the waterway, accusing Iran of targeting a national asset.

The Ministry of Defence later confirmed it had intercepted three missiles during the initial wave, with one projectile falling into the sea.

However, the situation escalated further as additional alerts were issued later in the day. The Fujairah Media Office reported that the emirate’s oil industry zone (FOIZ) was struck by drones launched from Iran, resulting in a fire at the facility.

Ongoing monitoring

Authorities have stressed that response systems remain active, with real-time monitoring in place to ensure public safety.

Residents have been advised to stay indoors, avoid unnecessary travel, and follow instructions issued by official government channels.

The situation remains fluid, with further updates expected as authorities continue to assess developments.

Microsoft, Google and xAI to give US government early access to AI models for security checks

The move builds on agreements with OpenAI and Anthropic, established in 2024 under the Biden administration when CAISI was known as the US Artificial Intelligence Safety Institute

Reuters
Reuters

05 May, 2026

Microsoft, Google and xAI to give US government early access to AI models for security checks

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Microsoft, Alphabet-owned Google and Elon Musk’s xAI will give the US government early access to new artificial intelligence models before their public release to allow checks for national security risks under a new deal.

The Center for AI Standards and Innovation at the Department of Commerce said on Tuesday that the agreement would allow it to evaluate the models before deployment and conduct research to assess their capabilities and security risks.

The development of advanced AI systems including Anthropic’s Mythos has in recent weeks created a stir globally, including among US officials and corporate America, over their ability to supercharge hackers.

Read more-Dubai’s du announces Dhs2bn hyperscale data centre deal with Microsoft

“Independent, rigorous measurement science is essential to understanding frontier AI and its national security implications,” CAISI Director Chris Fall said in a statement.

The move builds on agreements with OpenAI and Anthropic, established in 2024 under the Biden administration when CAISI was known as the US Artificial Intelligence Safety Institute.

CAISI, which serves as the government’s main hub for AI model testing, said it had already completed more than 40 evaluations, including on cutting-edge models not yet available to the public.

Developers frequently hand over versions of their models with safety guardrails stripped back so the center can probe for national security risks, the agency said.

Microsoft and xAI did not immediately respond to requests for comment. Google declined to comment.

Last week, the Pentagon said it had reached agreements with seven AI companies to deploy their advanced ‌capabilities on the Defense Department’s classified networks as it seeks to broaden the range of AI providers working across the military.

The Pentagon announcement did not include Anthropic, which has been embroiled in a dispute with the Pentagon over guardrails on the military’s use of its AI tools.

UAE’s G42 unit launches sovereign enterprise AI assistant

The assistant enables executives to automate routine intelligence gathering, from generating weekly briefings to preparing competitor analysis ahead of meetings

Rajiv Pillai
Rajiv Pillai

05 May, 2026

UAE’s G42 unit launches sovereign enterprise AI assistant
Image: Getty Images/Image for illustrative purpose

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Inception, a G42 company, has launched InceptionClaw, a sovereign, enterprise-grade artificial intelligence (AI) super assistant designed to move beyond passive responses and actively manage workflows for enterprise leaders and government officials.

Built on Inception’s Catalyst platform and powered by Compass GPT-5.x models, the solution is positioned as a UAE-native, agentic AI assistant developed with sovereignty and data control at its core. The platform operates under UAE-level guardrails, ensuring that all data remains within national jurisdiction through Greenshield sovereign controls.

Unlike conventional AI assistants that rely on user prompts, InceptionClaw is designed to operate proactively. It continuously monitors enterprise tools including email, calendars, and project management systems to surface priorities, generate structured briefs, and deliver alerts or summaries across platforms such as Microsoft Teams and email.

The assistant enables executives to automate routine intelligence gathering, from generating weekly briefings to preparing competitor analysis ahead of meetings. It also supports recurring workflows, allowing users to schedule automated insights without repeated input.

A key differentiator is its sovereign architecture, which addresses growing concerns around data residency, compliance, and security in AI deployment. The platform includes isolated user credentials, tamper-proof audit trails, and cryptographically signed actions, alongside safeguards such as spending limits and human approval layers for high-risk decisions.

The system integrates with widely used enterprise tools, including Microsoft 365, SharePoint, and Monday.com, enabling users to draft communications, generate reports, and create deliverables directly within existing workflows. It also includes audio functionality, converting written briefings into multi-speaker podcast-style summaries for on-the-go consumption.

Ashish Koshy, CEO of Inception, said: “Enterprises and governments require AI agents that are powerful and accountable. Every day that organizations deploy AI tools without sovereign controls, they are accumulating risk they may not see until it is too late. InceptionClaw changes what an AI assistant can do, and where it can be trusted to do it. It gives every organization the ability to deploy AI agents at scale, without trading away security or sovereignty to do it.”

The launch comes as organisations globally reassess AI adoption strategies, particularly in regulated sectors where data governance and compliance are critical.

InceptionClaw is currently available to Inception’s executive leadership, with a phased rollout across the G42 ecosystem underway. Enterprise and government clients can apply for early access, while the company is also offering sovereign readiness assessments to evaluate data residency and compliance gaps in existing AI deployments.

UAE’s LIFEPharma plans Dhs700m Abu Dhabi drug manufacturing expansion

Dr Shamsheer Vayalil, founder and chairman of VPS Healthcare, said the expansion was aimed at bringing critical medicines closer to patients in the region

Gulf Business
Gulf Business

05 May, 2026

UAE’s LIFEPharma plans Dhs700m Abu Dhabi drug manufacturing expansion
Image: Supplied

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UAE-based LIFEPharma said it plans to invest Dhs700m ($190.6m) in a new pharmaceutical manufacturing platform in Abu Dhabi’s Khalifa Economic Zones Abu Dhabi (KEZAD), as the Gulf state pushes to strengthen domestic drug production and reduce reliance on imports.

The company, part of healthcare group VPS Health, signed a memorandum of understanding with AD Ports Group during the Make it in the Emirates 2026 forum to develop the proposed facility.

LIFEPharma said it is currently the UAE’s only pharmaceutical manufacturer approved by the US Food and Drug Administration, and already exports medicines to regulated markets including the United States, Canada and Australia.

The planned KEZAD platform will expand production across three areas, including a Dhs30m vaccine fill-and-finish facility for paediatric and adult vaccine Dhs200m oncology manufacturing unit for cancer treatments, and another Dhs200m allocated for advanced injectables such as peptides and biologics.

The company said the project is expected to contribute around Dhs2bn to the UAE’s gross domestic product over its lifecycle and create more than 1,000 skilled jobs, including roles for Emiratis.

The move comes as the UAE seeks to build local manufacturing capacity in strategic sectors under its Operation 300bn industrial strategy, which aims to raise the contribution of the industrial sector to the national economy.

LIFEPharma to oversee technical, regulatory and commercial development as part of agreement

Under the agreement, AD Ports Group will support the project through land allocation, infrastructure and utilities access, while LIFEPharma will oversee technical, regulatory and commercial development.

LIFEPharma also signed a financing agreement with Ajman Bank to support the project, though financial details were not disclosed.

Dr Shamsheer Vayalil, founder and chairman of VPS Healthcare, said the expansion was aimed at bringing critical medicines closer to patients in the region, including treatments for conditions such as thalassemia and sickle cell disease.

The announcement adds to a broader push by Gulf countries to localise pharmaceutical manufacturing as they seek greater supply chain resilience after disruptions exposed during the Covid-19 pandemic.

Read: Burjeel’s Dr Shamsheer Vayalil on building a global hub for complex care

ANAX Developments appoints Raja Alameddine as CEO

Veteran real estate executive with 30 years’ experience to lead next phase of growth and expansion

Gulf Business
Gulf Business

05 May, 2026

ANAX Developments appoints Raja Alameddine as CEO
Raja Alameddine is the new CEO of Anax Developments.

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ANAX Developments has appointed industry veteran Raja Alameddine as CEO, as the Dubai-based developer positions itself for its next phase of growth.

Alameddine brings more than three decades of experience in real estate development across regional and international markets. He has held senior leadership roles at firms including Colliers International, Gulf Related, Jeddah Economic Company, Solidere International and Lootah Real Estate Development.

Over his career, he has led a wide range of projects, from large-scale master-planned cities to complex mixed-use developments. He holds an MBA and a Bachelor of Engineering from the American University of Beirut.

In his new role, Alameddine will oversee ANAX Developments’ strategic direction, with a focus on sustainable growth and international expansion. He will also be responsible for shaping the company’s positioning in the luxury real estate segment.

Satish Sanpal, founder and chairperson of ANAX Holding, said the appointment comes at a pivotal moment for the market.

“We see the current period of market recalibration as a moment to prepare for the surge that will follow,” Sanpal said. “We are strengthening our operations while ensuring that our launches, construction and deliveries remain on track and executed with precision.”

He added: “Raja has a deep understanding of the real estate landscape and proven management expertise across global enterprises. We are confident in his ability to lead ANAX Developments into its next phase of growth and take the business to new heights.”

Alameddine said he was joining the company at a time of strong momentum.

“I am proud to join ANAX Developments at such an exciting phase of its growth,” he said. “With a strong and expanding portfolio, I look forward to working with the team to deliver exceptional projects and introduce new developments that reflect ANAX’s commitment to luxury and innovation.”

“Our strategy will focus on delivering projects that meet international standards of quality, execution and long-term value,” he added.

Alameddine will also be tasked with setting the long-term strategic roadmap for the business, with an emphasis on delivering projects in key locations and strengthening ANAX Developments’ position in the UAE’s luxury real estate market.

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