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26 March 02:54 PM Mubadala Investment acquires 100% of pan-African biopharmaceuticals platform KELIX bio
UAE – Mubasher: Mubadala Investment Company has acquired a 100% stake in KELIX bio, a leading emerging markets biopharmaceuticals platform. The sold stake represents the full ownership of Development Partners International (DPI), an investment …
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26 March 11:56 AM E7 Group boosts security solutions in Middle East
Abu Dhabi – Mubasher: E7 Group inked three security solutions contracts at a total value of AED 12.90 million to expand its network in the UAE and Middle East, according to a press release. The one-year agreements cover the manufacture and supply …
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25 March 02:49 PM National Industries reports KWD 47m consolidated profit in 2023
Mubasher: The consolidated net profit after tax and directors’ remuneration of National Industries Group Holding (NIG) surged to KWD 46.77 million in 2023 from SAR 33.92 million a year earlier. Revenues from sales and contracts with customers …
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25 March 11:52 AM BKN301 empowers banks, fintech companies in MENA via new platform
Mubasher: BKN301 Group launched its BKN301 banking-as-a-service (BaaS) Orchestrator solution to reshape the financial landscape in the MENA region, according to a press release. The platform aims to enable businesses of all sizes, particularly …
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25 March 11:04 AM GFH’s shareholders elect new board, ratify dividends
Mubasher: GFH Financial Group’s annual general meeting (AGM) has elected a new board of directors for the next three years, according to a bourse filing. The new board include Hisham Ahmad Alrayes, Ali Murad Ali, Darwish Abdulla AlKetbi, Ghazi …
Zayed Alzayani, Chairman of Roebuck
24 March 02:52 PM GFH names Alzayani as Chairman of London-based Roebuck
Mubasher: GFH Financial Group has appointed Zayed Alzayani as board Chairman of its subsidiary Roebuck, a London-headquartered Pan-European real estate logistics investor and asset manager. Alzayani has four decades of experience spanning senior …
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21 March 06:43 PM US-based Coupa launches firm’s 1st data centre in Middle East
UAE – Mubasher: AI-driven platform Coupa, headquartered in the US, has opened its first data centre in the Middle East in collaboration with the Amazon Web Services (AWS) team in Dubai. The new AWS data centre aims to enhance data security for …
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21 March 03:44 PM Gulf Business Machines extends strategic partnership with Lenovo
UAE – Mubasher: Gulf Business Machines (GBM), a digital solutions provider, has extended its strategic partnership with Lenovo. The partnership will expand to include the sale and support of the groundbreaking Lenovo TruScale IaaS (infrastructure …
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21 March 11:44 AM Wind boosts MENA’s yachting industry via $1m funding round
UAE – Mubasher: Dubai-based sailing club Wind Rises has secured $1 million in a pre-seed funding round from angel investors, according to a press release. The funds will be used to expand the fleet and boost the company’s services while fostering …
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20 March 06:50 PM CoinMENA FZE joins Network International to endorse crypto ecosystem
UAE – Mubasher: CoinMENA FZE, the virtual asset service provider headquartered in the UAE, has teamed up with Network International to offer a seamless and secure onramp from fiat to crypto through card deposits to customers. This strategic …
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20 March 03:41 PM The Arab Energy Fund posts 51% YoY higher net income in 2023
Riyadh – Mubasher: The Arab Energy Fund (TAEF), previously APICORP, reported a 51% year-on-year (YoY) surge in net income to $225 million in 2023. Total assets grew by 12% YoY to reach $9.88 billion last year, according to a press release. As of …
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20 March 01:54 PM MANTRA completes $11m funding round to boost RWA tokenisation
Mubasher: MANTRA ($OM), the Layer 1 blockchain for Real World Assets (RWA), has secured a new funding round led by key venture and technology investors in the MENA region, according to a press release. Shorooq Partners led the $11 million …
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20 March 12:22 PM Dubai International Chamber boosts global expansion of EV market
UAE – Mubasher: Dubai International Chamber supported the global expansion of two Dubai-based businesses to provide advanced electric vehicles (EVs) in new markets, according to a press release. This comes within the framework of the strategic …
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19 March 02:50 PM Brent crude to surpass $80/b by 2024-end amid timid market sentiment – Bloomberg
Mubasher: The price of Brent crude oil is expected to hover above $80 per barrel (pb) at the end of 2024, as market sentiment shifts towards a more reserved outlook for demand. In a survey by Bloomberg Intelligence, around 53% of respondents …
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19 March 01:51 PM Stubborn inflation likely to prompt Fed to maintain interest rates – Emirates NBD
Mubasher: The Federal Reserve (Fed) is expected to maintain interest rates at 5.50% during its upcoming two-day monetary policy meeting, concluding on 20 March. This expectation is supported by higher-than-expected inflation data and signs of …
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19 March 01:25 PM Global energy transition efforts face hard realities – Aramco’s CEO
Riyadh – Mubasher: The global energy transition strategy has not succeeded in many aspects due to five hard realities that should be considered to adjust its path, stated Amin Nasser, President & CEO of Saudi Arabian Oil Company (Aramco). These …
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19 March 11:44 AM ADX teams up with Eureeca to expand IPOs globally
UAE – Mubasher: Abu Dhabi Securities Exchange (ADX) partnered with Eureeca, a global investment platform with a presence in Europe, to expand access to global investors to initial public offerings (IPOs) ADX and Eureeca will build on the …
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18 March 02:01 PM Ooredoo, e& team up to evolve submarine network in Middle East
Abu Dhabi – Mubasher: e& and National Mobile Telecommunications Company (Ooredoo) partnered to deploy the subsea latest technology enabling the Gulf Gateway Cable (GGC1) system, according to a press release. The two entities will join forces to …
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14 March 11:41 AM Paklaunch eyes regional expansion via new funding round
Mubasher: Paklaunch has closed its seed funding round with undisclosed value to boost the startup ecosystem in Pakistan and the GCC region, according to a press release. The fundraising was led by Disrupt.com with the participation from Indus …
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12 March 05:53 PM US’ Cloudflare expands in Middle East through new office in Dubai
UAE – Mubasher: US-based Cloudflare has officially opened a new office in Dubai Internet City as part of its plan to increase investment in the Middle East, according to a press release. Co-Founder, President, and COO of Cloudflare, Michelle …
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12 March 11:35 AM Clara, VMS ink deal at LEAP 2024 to empower MENA’s startups
Mubasher: VMS and Clara, a platform streamlining company digital formations, inked a memorandum of understanding (MoU) to back startups in the MENA region. The two parties signed the agreement on the slides of LEAP24 that took place in Riyadh …
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11 March 01:27 PM TAWAL unveils new technology for private 5G network at LEAP 2024
Riyadh – Mubasher: TAWAL, an information and communications technology (ICT) infrastructure subsidiary of Saudi Telecom Company (stc), has announced a new technical system for private 5G networks at LEAP 2024. TAWAL joined forces with MOBiSENSE to …
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10 March 04:26 PM Egypt’s dKilo raises $3.2m funding at LEAP 2024
Cairo – Mubasher: Egypt-based ad tech dKilo has secured $3.20 million in a Seed funding round during the Leap 2024 conference that kicked off in Riyadh on 4 March. The fundraising transaction was led by Upturn Ventures, a venture builder …
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10 March 01:53 PM GFH leads Cenomi Centers’ $500m sukuk offering
Mubasher: GFH Financial Group has acted as the joint lead managers and bookrunners for the issuance of a $500 million sukuk by Arabian Centres Company (Cenomi Centers), according to a press release. The five-year offering registered a total order …
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10 March 12:34 PM Kuwait’s stc deploys new 5G wireless service in Middle East
Mubasher: Kuwait Telecommunications Company (stc) has announced the Middle East's inaugural commercial deployment of 5G RedCap Fixed Wireless Access (FWA) service. A groundbreaking advancement in broadband connectivity, the 5G RedCap FWA service …