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11 April 07:02 PM Saudi Arabia, Kuwait’s crude oil production rises in March; UAE shows decline
Mubasher: The Saudi crude oil production surged by 20,000 barrels per day (bpd) to hit 9.03 million bpd in March 2024 compared with 9.01 million bpd in February, according to the latest OPEC report. The average crude oil production by Saudi Arabia …
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11 April 02:41 PM UAE’s global aerospace engineering firm Sanad extends $145m deal with Asiana Airlines
UAE – Mubasher: Global aerospace engineering and leasing solutions leader Sanad, which is wholly owned by Abu Dhabi’s sovereign investor Mubadala Investment Company, has renewed a five-year contract with Asiana Airlines, the second largest airline …
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9 April 04:04 PM Saudi Arabia leads Forbes list of “Most Valuable Banks”
Mubasher: Forbes Middle East has revealed its ‘30 Most Valuable Banks’ ranking, with Saudi Arabia leading the list via 10 entries at an aggregated market value of $279.50 billion. As of 23 February 2024, the 30 banks had a combined value of …
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7 April 02:36 PM Etihad Airways boosts operations in Middle East via new destination
UAE-Mubasher: Etihad Airways added the Saudi province of Al Qassim to its growing list of destinations, increasing its total number of Saudi gateways to four. This move aligns with the company’s objectives to expand its network and enhance …
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7 April 01:12 PM Gulf banks could benefit from macroeconomic shift in Turkiye – Fitch Ratings
Mubasher: Potential macroeconomic changes in Turkiye are set to benefit subsidiaries of GCC-based banks in the country. A disinflation in Turkiye is set to cut GCC banks’ net losses and the decelerated devaluation of the lira is expected to reduce …
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7 April 12:25 PM Egypt leads Middle East in Forbes fintech ranking with 13 companies
Cairo – Mubasher: Egypt led the Middle East as the most represented country in the Forbes ranking list of the region’s top companies in the financial technology (fintech) sector. The 13 Egyptian companies represented in the list include Fawry for …
Akın Garzanlı, Chief Marketing Officer and Chief Customer Officer of MEA
4 April 03:19 PM Turkey-based Arçelik expands footprint in MENA via acquisition deal
Mubasher: Turkish multinational household appliances manufacturer Arçelik, Beko’s parent company, has acquired Whirlpool’s operations in the MENA region, according to a press release. Under the acquisition deal, Arçelik currently owns Whirlpool’s …
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4 April 01:01 PM Saudi PIF’s SITE acquires 10% of South Korea-based AhnLab
Riyadh – Mubasher: Saudi Information Technology Company (SITE), Wholly owned by the Public Investment Fund (PIF), and its subsidiary SITE Ventures, have entered into a dual investment with AhnLab, a cybersecurity company in South Korea. The PIF …
Noor Al Sulaiti, the Head of Security Business Development at Google Cloud for META
4 April 11:56 AM Google Cloud appoints Al Sulaiti to lead cybersecurity business for META
Mubasher: Google Cloud has named Noor Al Sulaiti as the Head of Security Business Development and Government Relations for the META region. Al Sulaiti will add her experience in the telecommunications and technology sectors to her new role, …
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3 April 01:36 PM GMG, VF Corporation join forces to expand footprint across MENA
Mubasher: Global retail conglomerate GMG expanded its 12-year partnership with VF Corporation to foster the presence of VF's brands in the region, according to a press release. The joint agreement aims to grow the network of new mono-brand partner …
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3 April 12:40 PM FAB partners with Microsoft to boost financial services globally
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) and Microsoft teamed up to develop new AI-based banking capabilities and bolster financial services, according to a press release. The two entities will partner to launch an AI Innovation Hub that …
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2 April 04:00 PM BBS Technology boosts cybersecurity solutions in MENA
Mubasher: BBS Technology, a developer of next-generation cybersecurity solutions, provided companies in the MENA region with enhanced solutions to avoid cyber-attacks sponsored by global states. Chairman of TITLE at BBS Technology, Bedir Sarı, …
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2 April 03:34 PM Informatica launches Saudi Arabia’s 1st AI-powered IDMC platform
Mubasher: Informatica launched its AI-backed Intelligent Data Management Cloud (IDMC) in Saudi Arabia, which was the first in the Kingdom, according to a press release. The investment includes developing a new point of delivery (PoD) in Riyadh in …
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2 April 11:49 AM Global digital agency Like Digital expands footprint in Saudi Arabia
Riyadh – Mubasher: Like Digital, a global digital agency with offices in the UK and UAE, teamed up with AstroLabs to expand its operations into Saudi Arabia. This step aligns with Like Digital’s growth plans to boost its footprint across the …
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1 April 04:56 PM GFH Partners injects $450m in US real estate sector
Mubasher: GFH Partners Limited, a subsidiary of GFH Financial Group, has invested $450 million in the US real estate sector between the fourth quarter (Q4) of 2023 and Q1-24. In the Medical Clinics sector, GFH Partners has a portfolio of assets …
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1 April 12:33 PM Emirates NBD Capital leads Lenovo's debut facility in Middle East
Dubai – Mubasher: Emirates NBD Capital, the investment banking arm of Emirates NBD, has arranged a $500 million syndicated revolving credit facility (RCF) for Lenovo Group Limited. The facility marks Lenovo's first entry into the Middle East …
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28 March 03:59 PM Middle East, Eurasia make 32% of SMEs drawn to Dubai in 2023
UAE – Mubasher: Around 32% of the Small and Medium-sized Enterprises (SMEs) attracted by Dubai in 2023 originated from the Middle East and Eurasia. Meanwhile, 29% of SMEs drawn to the emirate come from Asia and Australia, according to data …
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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 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 …