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5 February 2025 01:08 PM UAE, Saudi Arabia lead MENA’s e-commerce growth in 2024
Mubasher: The e-commerce sector in the MENA region, valued at $1.80 billion, grew by 30% in 2024, according to a joint report by Flowwow and Admitad. The market witnessed online orders growth in 2024, with 7% increases in the UAE and 9% in Saudi …
Global Economy
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5 February 2025 00:52 PM Beltone VC collaborates with LNKO to boost expansion plans
Cairo – Mubasher: Beltone Venture Capital (VC), a subsidiary of the listed Beltone Holding, has made a strategic equity investment in LNKO, a trendsetting omni-channel D2C eyewear startup. The partnership comes as part of Beltone VC’s ongoing …
Companies Investments
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4 February 2025 02:47 PM qeen.ai secures largest seed investments in MENA; total funding reaches $12m
UAE – Mubasher: Dubai-based AI startup qeen.ai has raised one of the largest seed investments in the MENA region to date, securing $10 million in funding, according to a press release. The fundraising transaction was led by Prosus Ventures, with …
Companies Investments
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3 February 2025 04:11 PM Myne secures $2m funding to fuel expansion in MENA
UAE – Mubasher: UAE-based fintech Myne has closed a $2 million pre-seed funding round, led by Scene Holding, Raz Holding, with participation from Plus VC, the most active VC in the MENA. The funding will support Myne’s strategy of redefining how …
Companies Investments
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3 February 2025 02:56 PM BKN301 launches regional office in Qatar to foster MENA’s digital solutions
Mubasher: BKN301 Group, a London-based banking as a service (BaaS) technology provider, has launched an office in Qatar, serving as the company’s regional headquarters (HQ) for the MENA region. This move aligns with BKN301’s development strategy …
Global Economy
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3 February 2025 11:31 AM ADNOC mulls creating global polyolefins group
Abu Dhabi – Mubasher: Abu Dhabi National Oil Company (ADNOC) has confirmed negotiations with OMV AG about setting up a new global polyolefins group, according to a bourse filing. ADNCO proposed acquiring Nova Chemicals Corporation from Mubadala …
Global Economy
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3 February 2025 07:27 AM ADNOC’s TA’ZIZ unveils world’s largest methanol plants via $1.7bn award
UAE – Mubasher: TA’ZIZ, a joint venture (JV) between ADNOC and ADQ, has awarded a contract worth $1.70 billion (AED 6.20 billion) to SAMSUNG E&A for the construction of one of the world’s largest methanol plants in Al Ruwais Industrial City. The …
Global Economy
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2 February 2025 05:27 PM Egyptian startup Simplex raises $13m investment to build CNC factory in Saudi Arabia
Mubasher: Simplex, an Egypt-based startup in the field of computer numerical control (CNC) machine manufacturing, secured $13 million to open a factory on a 20,000 square-metre site in Riyadh, according to a press release. The establishment of the …
Companies Investments
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2 February 2025 09:50 AM NMDC Energy delivers 80% higher net profits in 2024 due to global expansion
Abu Dhabi – Mubasher: NMDC Energy, a subsidiary of National Marine Dredging Company (NMDC), registered AED 1.40 billion in net profit during the 12-month period that ended on 31 December 2024. The annual earnings were higher by 80% than AED 780.42 …
Global Economy
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2 February 2025 06:27 AM Mashreq Bank’s regional growth motivates over AED 9bn profits in 2024
Dubai – Mubasher: The net profits after tax of Mashreq Bank grew by 4% year-on-year (YoY) to AED 9.01 billion in 2024 from AED 8.67 billion, according to the financial results. Total operating income witnessed an annual increase of 24% to AED …
Financial Results
During Sustainability Forum Middle East
30 January 2025 06:37 PM Sustainability Forum Middle East concludes, endorses MENA region’s decarbonisation goals
Mubasher: The third edition of the Sustainability Forum Middle East concluded on 29 January 2025 after running for two days in Bahrain to underscore and help achieve the decarbonisation goals of the MENA region. The event was held in the presence …
Global Economy
Arab Health unveils new brand identity
30 January 2025 06:17 PM Middle East’s Arab Health unveils new brand identity
Mubasher: Arab Health, the Middle East’s largest and most important healthcare event and congress since 1975, announced its rebranding to World Health Expo Dubai (WHX Dubai), according to a press release. This change, which was made on the second …
Macroeconomics
Dubai Financial Market
30 January 2025 05:24 PM DFM’s detailed financial results for 2024 unveil robust growth; board proposes AED 256m dividends
Dubai – Mubasher: Dubai Financial Market Company (DFM) announced its consolidated results for 2024, highlighting a 24% increase in net profit (pre-tax) to AED 409.30 million, compared to AED 329.6 million in 2023. The growth was driven by robust …
Global Economy
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30 January 2025 03:49 PM BHM Capital cements regional leadership through External Market Maker membership on BHB
Dubai – Mubasher: BHM Capital, the leading financial institution in the capital markets of the UAE, has unveiled its membership as an External Market Maker on the Bahrain Bourse (BHB) effective 29 January 2025, according to a bourse disclosure. As …
Trading Activities
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30 January 2025 01:30 PM UAE-based EVOTEQ to expand in MENA, beyond through partnership with Egypt’s DAF
Mubasher: EVOTEQ, a Dubai-based solutions provider, has partnered with Digital Access to Finance (DAF), the Egyptian company managing the implementation and operation of the Egyptian Drug Authority’s (EDA) national track-and-trace system. This …
Global Economy
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30 January 2025 00:19 PM Deloitte Middle East to provide cloud observability solutions through strategic collaboration with Dynatrace
Mubasher: Deloitte Middle East is partnering with the cutting-edge observability provider Dynatrace to expand its cloud offering in response to surging demand from regional clients for accelerated digital transformation and enhanced business …
Global Economy
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30 January 2025 10:43 AM Middle East’s 1st Blue Bond lists on Nasdaq Dubai by DP World under $10bn programme
UAE – Mubasher: Nasdaq Dubai has welcomed the Middle East and North Africa’s first corporate Blue Bond listing, of a $100 million by DP World, according to a press release. The listing comes under DP World’s $10 billion Global Medium-Term Note …
Bonds
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30 January 2025 03:52 AM Paymob, Woo forge partnership to boost e-commerce in MENA
Cairo – Mubasher: Paymob has entered a landmark strategic partnership with Woo, the open-source e-commerce platform, to reshape the e-commerce landscape in the MENA region.   Paymob became Woo’s first preferred partner to launch in the region, …
Banking and Finance
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29 January 2025 02:01 PM Spark Education Platform of EFG Hermes-managed Saudi Education Fund unveils majority stake acquisition
Riyadh – Mubasher: Spark Education Platform (SEP), owned by the Saudi Education Fund (SEF) which is managed by EFG Hermes, an EFG Holding company, has entered into definitive agreements to acquire a majority stake in Qimam El Hayat International …
Global Economy
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28 January 2025 02:08 PM PIF completes pricing of $4bn international bonds
Riyadh – Mubasher: Saudi Arabia’s Public Investment Fund (PIF) has completed the pricing of a $4 billion Reg S bond offering. Proceeds from the international bonds’ offering will be utilised for general corporate purposes. The PIF noted that the …
Global Economy
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28 January 2025 11:38 AM Janus Henderson expands regional footprint with new appointment
Mubasher: Janus Henderson has opened a new office at ADGM in Abu Dhabi to expand its footprint in the MEA and GCC regions, according to a recent press release. The company has appointed Saudi national Baraa Amir as the new Executive Director to …
Global Economy
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28 January 2025 08:14 AM NEOM secures $3bn financing from Italy’s SACE
Riyadh – Mubasher: NEOM has secured $3 billion under a long-term multicurrency untied facility with Italy’s SACE, according to a press release. The export credit agency (ECA) financing transaction marks NEOM's first corporate ECA financing and the …
Companies Investments
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28 January 2025 06:57 AM AGF Freezers launches new office in Egypt to scale global footprint
Cairo – Mubasher: AGF Freezers Limited, a global manufacturer of food freezing and cooling equipment, has inaugurated its new office in Egypt to expand its footprint, according to a press release. Located at Arabella Plaza in New Cairo, the new …
Companies Investments
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27 January 2025 04:24 PM BioSapien extends funding to $7m, places UAE as global medtech hub
UAE – Mubasher: Healthtech BioSapien has successfully extended its pre-Series A funding round to $7 million, anchoring UAE's position as a global medtech hub, according to a press release. The platform will use the investment to tackle escalating …
Companies Investments
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27 January 2025 08:19 AM Bank Muscat, Knight Frank MENA lead sale of 5-star hotel in Dubai
Mubasher: Knight Frank MENA concluded the sale of Mövenpick, Jumeirah Beach Residences Dubai, on behalf of Bank Muscat, according to a press release. Bank Muscat managed the investment assets for several large regional shareholders, including …
Global Economy