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ADGM’s Asset Management Sector Leads Exponential Growth in Third Quarter of 2024

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ABU DHABI, UAE, Nov. 30, 2024 /CNW/ — ADGM, the international financial centre (“IFC”) of Abu Dhabi, announced another quarter of unprecedented growth, with exceptional achievements for the third quarter (“Q3”) of 2024 across key metrics. The results underscore ADGM’s pivotal role in Abu Dhabi’s strategic ambition to diversify its economy and solidify its position as a premier global destination for finance, investment, and innovation. ADGM continues to align with Abu Dhabi’s economic growth, which registered a 6.6% growth in non-oil GDP, in the Q2 of 2024.

His Excellency Ahmed Jasim Al Zaabi, the Chairman of ADGM, remarked, “Our record-breaking achievements in Q3 exemplify the appeal of ADGM’s world-class ecosystem that brings together a stable regulatory environment, strategic location and ease of doing business. The continued influx of businesses and investors into ADGM highlights Abu Dhabi’s competitive advantage in the global financial industry and the growth of the Falcon Economy. As we pave the ‘Path to Forward’, we aim to continue building on this momentum to deliver further growth and innovation that benefits not just Abu Dhabi and the UAE, but the wider financial community.”

Asset Management Leads Growth

ADGM recorded a substantial increase of 215% in total Assets Under Management (AUM) in Q3 2024 compared to Q3 2023, demonstrating its rapid ascent as a top asset management hub in the MENA region. This growth highlights ADGM’s ability to attract high-calibre asset managers, investment funds, and private equity firms, establishing it as a go-to location for institutional investors worldwide. This is also reflected in the growth of the total fund and asset managers, which reached 128, managing 156 funds, as of the end of Q3 2024.

Joiners during the Q3 of 2024 include PGIM, Nuveen, Elysium Management, Stonepeak, and Gemcorp Capital.

Surge in New Business Registrations and Expanding Ecosystem

In Q3 of 2024, ADGM saw a 33% rise in the number of newly issued business licences compared to the same period last year. A total of 759 new licences were issued over the period to financial, non-financial and retail firms. The total number of operational entities within ADGM’s jurisdiction jumped to 2,251, an impressive 31% year-on-year growth. The surge reflects strong demand from a diverse range of sectors, including asset management, FinTech, and professional services, within ADGM’s ecosystem.

Furthermore, the workforce within ADGM’s jurisdiction has been steadily increasing with more and more businesses joining its vibrant ecosystem marking an increase of 35% in the overall workforce.

Roadshows Bringing Abu Dhabi to the World

In line with its mission to enhance global connectivity and attract investments, ADGM participated in a series of international roadshows during Q3 of this year. One of the major ones was several high-level engagements in China and Hong Kong to celebrate 40 years of bilateral relations between the UAE and China.  Furthermore, ADGM delegations continued their series of engagements with financial leaders and authorities in the international market covering Singapore, London, Washington DC and New York, bringing the total number of bilateral discussions to more than 150 across key international markets.  

Upcoming Flagship Event

Looking forward, as ADGM nears the end of the 2024 financial year, it is set to host the third edition of its flagship event series, Abu Dhabi Finance Week (ADFW) in December. The event is expected to bring over 20,000 delegates to explore the theme ‘Welcome to the Capital of Capital’.

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View original content:https://www.prnewswire.com/news-releases/adgms-asset-management-sector-leads-exponential-growth-in-third-quarter-of-2024-302319069.html

SOURCE ADGM

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Dymax Launches TPO-Free Light-Curable Adhesives Range to Address Regulatory and Marketplace Demands

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SINGAPORE, May 14, 2025 /PRNewswire/ — Dymax, a leading manufacturer of rapid light-curing materials and equipment, responds to market interest in sustainable adhesive solutions and changing regulatory requirements by expanding its portfolio of TPO-free light-curable materials.

Preemptive Compliance and Long-Term Readiness
In anticipation of the European Union legislative changes on Trimethylbenzoyl Diphenylphosphine Oxide (TPO) and in response to growing consumer concerns around the world, Dymax is expanding our portfolio of TPO-free formulations designed to meet evolving safety standards and support long-term product design and planning.

The available TPO-free products have been rigorously tested to deliver the performance and quality characteristics expected of all Dymax chemistries. For medical device applications, adhesives meet biocompatibility standards, including ISO 10993-5 cytotoxicity and others as appropriate, helping support internal validation or documentation requirements. Additionally, manufacturers who want to integrate the formulations into existing production environments can seek assistance from Dymax technical service specialists who can help customers move confidently through validation processes with current applications or new product development efforts.

“Our commitment to monitoring and assessing the needs of the marketplace and developing innovative and effective solutions drives us to stay ahead of the marketplace,” said Michael Ford, Head of Business Development at Dymax. “By enabling access to our expanded portfolio of TPO-free products early and continuing to evolve our product lines where needed, we are giving our customers the confidence to continue using our materials while meeting evolving global standards and end-user needs.”

Supporting Product Transitions
Recognizing that any formulation change can raise questions, Dymax provides technical and regulatory support to help customers assess and adopt TPO-free options, including:

Current application product review to determine potential TPO-containing product useProduct Data Sheets for material property review prior to in-house validationApplication engineering guidance to evaluate any required process adjustmentsAccess to regulatory teams for questions about global compliance requirements

While the regulatory push is strongest in the EU, Dymax’s proactive approach will help enable a timely transition for the customer, giving them confidence in product reliability and future compliance directives while simultaneously addressing consumer needs.

Customers are encouraged to contact Dymax technical advisors to answer questions on process and design changes and for support in evaluating solutions that meet immediate performance needs and longer-term planning goals.

About Dymax
Dymax develops innovative rapid and light-curable materials, dispensing equipment, and UV/LED light-curing systems. The company’s adhesives, coatings, and equipment are perfectly matched to work seamlessly with each other, providing design engineers with tools to dramatically improve manufacturing efficiencies. Major markets include aerospace and defense; medical device; and consumer and automotive electronics.

For additional information on Dymax, visit www.dymax.com or call us at +65 6752 2887.

 

View original content:https://www.prnewswire.com/apac/news-releases/dymax-launches-tpo-free-light-curable-adhesives-range-to-address-regulatory-and-marketplace-demands-302454671.html

SOURCE Dymax

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Premier of Sarawak Officiates Hydrogen Economy Forum 2025, Launches Sarawak Hydrogen Economy Roadmap and Announces APGH 2026 to Further Cement Sarawak’s Leadership in the Global Green Energy Transition

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KUCHING, Malaysia, May 14, 2025 /PRNewswire/ — The Hydrogen Economy Forum (H2EF) 2025 – powered by APGH officially opened today at Hilton Kuching, officiated by the Premier of Sarawak, The Right Honourable Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg. The Premier of Sarawak delivered a powerful keynote address titled “Charting a New Energy Future: Sarawak’s Hydrogen Economy in Action”.

In his keynote address, the Premier of Sarawak emphasised hydrogen as a cornerstone of Sarawak’s clean energy strategy. He highlighted the state’s commitment to becoming a regional leader in hydrogen, driven by the newly launched Sarawak Hydrogen Economy Roadmap (SHER). The roadmap outlines a strategic plan to harness Sarawak’s abundant renewable energy, natural gas, and carbon capture capabilities to scale up low-carbon hydrogen production.

The Premier also announced the return of the Asia Pacific Green Hydrogen (APGH) Conference and Exhibition, scheduled for 9–11 June 2026 at the Borneo Convention Centre Kuching (BCCK). Building on the momentum of its inaugural edition, APGH 2026 aims to drive further global dialogue, innovation, and investment in the hydrogen economy.

The opening day of H2EF 2025 also featured several key industry announcements and partnership signings that reflect Sarawak’s growing role in the clean energy landscape. These included a Letter of Intent exchange between SEDC Energy and NGLTech (Sarawak) Sdn Bhd, an MoU exchange between UNIMAS and Bureau Veritas, and an MoU exchange between Sarawak Petchem and HighChem Company Limited.

A major highlight was the unveiling of the inaugural Sarawak SME ESG report by Alliance Bank, titled “Navigating ESG in Sarawak: Insights from SMEs”. The report provides a comprehensive view of how local small and medium enterprises are adapting to environmental, social, and governance (ESG) practices as Sarawak transitions into a green economy.

Hosted by the Ministry of Energy and Environmental Sustainability Sarawak (MEESty) and co-organised by MOSTI and Borneo Business Connect, with the support of Business Events Sarawak (BESarawak), H2EF 2025 serves as a strategic platform to drive Southeast Asia’s transition to a hydrogen economy. The forum aligns with national initiatives under the National Energy Transition Roadmap (NETR) and Sarawak’s Post-COVID-19 Development Strategy (PCDS) 2030.

With participation from over 400 delegates, including hydrogen industry leaders, researchers, investors, and policymakers from countries such as Japan, South Korea, Australia, Germany, and the Netherlands, H2EF 2025 continues to solidify Sarawak’s position as a clean energy pioneer in the region.

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SOURCE Hydrogen Economy Forum (H2EF) 2025

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ST Engineering iDirect Awards Saudi Net Link For Excelerator Sustained Excellence

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HERNDON, Va., May 13, 2025 /CNW/ — ST Engineering iDirect, a global leader in satellite communications, is proud to announce Saudi Net Link (SNL) as the winner of its Excelerator Sustained Excellence Award at CABSAT 2025. Illustrating the value of long-term partnerships, the award recognizes SNL’s exceptional role in driving continuous excellence in innovation, creating demand and advancing the satellite communications industry in the Middle East.

Since becoming ST Engineering iDirect’s first partner to install its iDirect Evolution hub in the Middle East in 2011, SNL has consistently delivered reliable connectivity solutions across critical industries. Their work has supported mobility services and ensured seamless and secure communication in remote environments, strengthened data sovereignty through global extension of local networks, and advanced the oil and gas sector with managed satellite solutions. With nearly two decades of collaboration with ST Engineering iDirect, SNL’s innovative approach and dedication have established them as a key driver of growth and transformation in the region.

Mohammed Elfaisal, COO of Saudi Net Link, stated, “We are deeply honored to receive the Excelerator Sustained Excellence Award. This recognition reaffirms our commitment to delivering cutting-edge satellite solutions that address the unique needs of our clients. Our long-standing partnership with ST Engineering iDirect has enabled us to expand our technological capabilities and continuously push the boundaries of what’s possible. We look forward to achieving even greater milestones together.”

Danielle Edwards, Vice President of Channels at ST Engineering iDirect, commented, “Collaboration is the foundation of our Excelerator Partner Program, and Saudi Net Link has consistently demonstrated dedication, expertise, and a drive to push boundaries. We value their unwavering loyalty and look forward to deepening our partnership as we work together to expand into new markets and continue delivering customer-focused solutions.”

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications (satcom) providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their satcom networks. With over 40 years of delivering innovation focused on solving satellite’s most critical economic and technology challenges we are committed to shaping the future of how the world connects. The product portfolio, branded iDirect, represents the highest standards in performance, efficiency and reliability, making it possible for its customers to deliver the best satcom connectivity experience anywhere in the world. ST Engineering iDirect is a leader in key industries including mobility, broadcast and military/government. In 2007, iDirect Government was formed to better serve the U.S. government and defense communities. For more information visit www.idirect.net.

View original content to download multimedia:https://www.prnewswire.com/news-releases/st-engineering-idirect-awards-saudi-net-link-for-excelerator-sustained-excellence-302454295.html

SOURCE ST Engineering iDirect

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