Mubadala Energy acquires 15% stake in Egypt’s Nargis offshore concession

Mubadala Energy completed its acquisition of a 15% participating interest in Egypt’s Nargis Offshore Concession from Italy’s Eni, state news agency Wam reports. The 1.8k sqkm block is located around 50 km offshore in the East Nile Delta Basin. The transaction value was not specified. Chevron has a 45% contractor interest, Eni holds 30% through a subsidiary, and Egypt’s Tharwa Petroleum holds 10%. Chevron also operates the concession, alongside the Egyptian Natural Gas Holding Company.

The transaction expands Mubadala Energy’s Egyptian and Mediterranean footprint, an addition to its stake in the adjacent Nour concession and its 10% interest in Shorouk concession, which is home to the Zohr gas field. Both concessions are off Egypt’s Mediterranean coastline.

Emirates NBD diversifies asset portfolio with new silver bars

Emirates NBD launches silver bars for retail investors: Emirates NBD rolled out its own branded silver bars, expanding its physical commodities portfolio, according to a press release. The investment-grade bars are available in a range of weight denominations, with prices linked to international silver benchmarks. The move targets rising demand for hard alternative assets among retail and high-net-worth investors in the UAE.

ICYMI- The launch follows the lender’s branded gold bar rollout in December, which tapped into a growing number of investors flocking to safe-haven assets — which hit record highs last year — amid a weaker USD and growing doubts around the stability of fiat currencies.

EHC, Phoenix, and AAA set up JV for sovereign cloud infrastructure

New Abu Dhabi-Swiss JV to deliver autonomous sovereign cloud and AI infrastructure: Abu Dhabi-based EHC Investment is establishing a joint venture with Swiss tech firm Phoenix Technologies and AAA Commercial Enterprises to build sovereign cloud and AI infrastructure in Abu Dhabi, according to a post on LinkedIn.

The details: The JV will provide secure data platforms, ensuring national sovereign intelligence, with full operations set to launch following key regulatory approvals, Wam reports. Phoenix will lead the project’s technical execution.

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