Dubai – Mubasher: Mohamed Abdulrahman Amiri resigned from his position as the Vice Chairman of Gulf Navigation Holding (GNH). Abdulrahman Mahmoud Al Afifi will succeed Amiri, according to a bourse disclosure. The board accepted the resignation …
UAE- Mubasher: Emirates NBD has partnered with Citi to introduce a new USD cross-border clearing service in the Middle East. Emirates NBD will be the first bank to utilise Citi’s 24/7 USD Clearing service, offering round-the-clock cross-border …
Abu Dhabi – Mubasher: Omorfia Group, a beauty anchor majority owned by Multiply Group, has fully acquired the Grooming Company Holding (TGCH), a provider of salon and beauty services in the UAE. Omorfia closed the deal with CedarBridge Capital …
Abu Dhabi – Mubasher: Presight AI Holding elected, on 10 June, Sultan Ahmed Al Jaber as the Chairman of the board. Mansoor Al Mansoori was also announced as the Vice Chairman, according to a bourse disclosure. Al Jaber is the UAE’s special envoy …
Abu Dhabi – Mubasher: Invest Bank’s CEO Ahmed Mohamed Fawzi Abu Eideh has resigned effective 11 June 2024. The bank’s board assigned the CEO role to a member of the senior management for an interim period, according to a bourse filing. The board …
Mubasher: Ithmaar Holding, which is listed on Bahrain Bourse as well, has selected Maysan Faisal Almaskati as CEO for the company and its two subsidiaries; Ithmaar Bank and IB Capital. Before assuming the new position, Almaskati served as Ithmaar …
UAE – Mubasher: Dubai-based Tenderd has secured a $30 million Series A funding round, led by A.P. Moller Holding, along with Quadri Ventures, Saurya Prakash, Aramco's VC arm Wa’ed Ventures, among others. Tenderd will use capital infusion to drive …
Dubai – Mubasher: The board of Takaful Emarat – Insurance recommended a capital increase valued at AED 60 million to enhance the company’s financial position and ensure long-term business stability. The board called for the shareholders to approve …
Abu Dhabi – Mubasher: E7 Group plans to invest AED 182 million (approximately $50 million) in organic growth initiatives across its security solutions business segment, E7 Security. The planned investments will enhance the group’s passport …
Abu Dhabi – Mubasher: Enersol, a joint-venture between ADNOC Drilling Company and Alpha Dhabi Holding, has acquired a 42.20% stake in Gordon Technologies for about $270 million. Around 80% of the deal’s value will be paid at closing, with the …
Abu Dhabi – Mubasher: Al Yah Satellite Communications Company (Yahsat) contracted Airbus Defence and Space SAS for its new geostationary telecommunications satellites, Al Yah 4 (AY4) and Al Yah 5 (AY5). The step follows the signing of an …
UAE – Mubasher: UAE-based proptech Stake closed a $14 million Series A funding round, led by MEVP Middle East Venture Partners (MEVP), along with Aramco-backed Wa'ed Ventures, Mubadala, and Republic. The funds will support the platform’s …
Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), the business unit of UAE-based FAB operating in Egypt, penned a deal with Cayesh, the first supply chain finance company in Egypt. The two entities will join forces to leverage innovative …
Cairo - Mubasher: El Ebour Real Estate Investment agreed to conclude contracting agreements in Saudi Arabia and the UAE, according to a bourse disclosure. The EGX-listed firm plans to ink a subcontracting contract between the company’s branch in …
Dubai – Mubasher: Arabian Scandinavian Insurance Company (Takaful - ASCANA Insurance) has rebranded itself to Sukoon Takaful, embracing the Sukoon Takaful brand in its entirety. The DFM-listed company has fully embraced the Sukoon Takaful brand …
Dubai – Mubasher: National Central Cooling Company (Tabreed) has reduced its energy use by 2.52 billion kilowatt-hours (kWh) in 2023. Tabreed slashed CO2 emissions by 1.50 million metric tonnes, equivalent to powering 143,000 homes, according to …
Cairo – Mubasher: Al Ahly FC has appointed UAE’s Palms Sports, a subsidiary of International Holding Company (IHC), as the official operator of the El-Qalaa El-Hamraa mega sports complex project. This partnership is set to enhance the value of …
Dubai – Mubasher: Emirates Building Systems (EBS), a wholly-owned subsidiary of Dubai Investments, has secured major contracts exceeding a value of AED 225 million, according to a press release. The new projects include Advanced Manufacturing …
Dubai – Mubasher: Parkin Company has entered into an agreement with a private developer to offer parking services at new six key locations in the Emirate of Dubai, according to a press release. In line with the company’s targeted growth strategy, …
Mubasher: Fitch Ratings affirmed the long- and short-term Issuer Default Ratings (IDR) rating of GFH Financial Group at ‘B’, with the outlook on the long-term IDR remaining stable. Fitch has also maintained the senior unsecured long-term rating …
Dubai – Mubasher: Nasdaq Dubai has welcomed Emirates Islamic Bank's debut $750 million sustainability sukuk issuance under its $2.50 billion programme. The five-year sukuk took the bank's total listings on Nasdaq to $2.02 billion across four …
Mubasher: National Mobile Telecommunications Company (Ooredoo) appointed Sunita Bottse as the CEO for Mena Digital Hub, which became effective on 26 May 2024, according to a press release. Mena Digital Hub, Ooredoo’s carrier-neutral data centre …
Abu Dhabi – Mubasher: Presight AI Holding and Esyasoft formed a new joint venture (JV) named IntelliGrid during the Baku Energy Week in Azerbaijan, according to a press release. This strategic partnership will deploy smart gas grids, enhanced …
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA), Vision International Investment Company (Vision Invest), and Gulf Investment Corporation (GIC) closed the financing arrangements for the Juranah Independent Strategic Water Reservoir …
UAE – Mubasher: Khalifa Economic Zones Abu Dhabi (KEZAD Group), a subsidiary of AD Ports Group, has signed a 50-year lease agreement with NMDC Energy, a subsidiary of the National Marine Dredging Company (NMDC), to construct a factory in Abu …
