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Abu Dhabi Equities Market to Launch Derivatives Offerings in Q4

Abu Dhabi Equities Market to Launch Derivatives Offerings in Q4
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Abu Dhabi Equities Market to Launch Derivatives Offerings in Q4

Abu Dhabi Equities Market to Launch Derivatives Offerings in Q4

Abu Dhabi Securities Exchange (ADX) said on Wednesday it plans to launch a derivatives market in the fourth quarter of this year.

The stock exchange will introduce single stock futures and index futures, it said in a statement, before expanding to a wider range of derivatives products.

ADX said it signed an agreement with Nasdaq to deliver marketplace technology solutions, including matching, real-time clearing and settlement technology.

The market is expecting a slew of initial public offerings (IPOs) this year as state entities look to monetize assets.

Abu Dhabi National Oil Co is planning an IPO of its drilling business and a flotation of Fertiglobe, a fertilizer joint venture with Dutch-listed chemical producer OCI, later this year.

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Saudi Ministry of Environment Issues First License for Aeroponics Agriculture in the Middle East

Saudi Ministry of Environment Issues First License for Aeroponics Agriculture in the Middle East
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Saudi Ministry of Environment Issues First License for Aeroponics Agriculture in the Middle East

Saudi Ministry of Environment Issues First License for Aeroponics Agriculture in the Middle East

The Ministry of Environment, Water, and Agriculture issued the first operational license for a commercial agricultural project utilizing aeroponics in the Middle East, reported the Saudi Press Agency on Saturday.

The project aims to contribute significantly to the local market's agricultural needs through sustainable production.

The Ministry's Undersecretary for Agriculture, Eng Ahmad Al-Ayada, made the announcement during a ceremony attended by representatives of a coalition local and international companies: Tamimi Markets Group from Saudi Arabia, Mitsui Group from Japan, and Zero Group from Italy.

Through the Green Dunes Company, the coalition will come up with modern agricultural solutions powered by cutting-edge technologies and AI. These efforts align with the Kingdom's National Agriculture Strategy and the broader goals of Vision 2030, which aim to build a sustainable agricultural future.

According to the ministry, the project's first phase has been completed. It entailed the establishment of an aeroponics farm to produce various vegetable varieties. The method is noted for its efficiency, as it reduces water consumption by 95% compared to traditional farming techniques and enables year-round productivity.

The project integrates AI and automation at all production stages, employing advanced monitoring systems and performance indicators to optimize output.