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11 July 03:31 PM GCC, UK in talks to sign free trade deal by 2024-end
Mubasher: The Gulf Cooperation Council (GCC) is negotiating a free trade agreement (FTA) with the UK that could be signed by the end of 2024. The bloc’s Secretary-General Jasem Albudaiwi held a meeting with UK Trade Minister Jonathan Reynolds in …
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11 July 10:10 AM Stride Ventures makes 1st GCC investment of $1m in Maalexi
Riyadh – Mubasher: Stride Ventures, a global venture debt firm from India, marked a key milestone in its international strategy by announcing its first $1 million venture debt investment in Maalexi as part of a broader GCC commitment. The funding …
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10 July 03:06 PM Servme, MyFatoorah partner to enhance digital payments in Middle Eastern restaurants
Mubasher: Servme, the leading reservation and guest CRM platform for restaurants and hospitality operators, had entered into a partnership with MyFatoorah, a leading payments platform, to boost payment adoption for restaurants across the Middle …
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10 July 12:27 PM Saudi Arabia tops MENA's VC funding in H1-24 – Report
Riyadh – Mubasher: Saudi Arabia ranked first in MENA in terms of the value of venture capital (VC) investments during the first half (H1) of 2024, attracting $412 million, down 7% year-on-year (YoY), according to a report by MAGNiTT. Around 32% of …
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9 July 04:29 PM GCC’s project awards drop 20% YoY in Q2-24 – Report
Mubasher: The GCC saw a notable decline in project awards during the second quarter (Q2) of 2024, with total awards dropping by 19.70% year-on-year (YoY) to $51.70 billion from $64.30 billion in the same period last year. This downturn was …
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9 July 08:47 AM NOW Money, Mastercard partner to foster payment in GCC
UAE - Mubasher: The UAE-based NOW Money partnered with global tech firm Mastercard to boost the payments industry across the GCC region, according to a press release. Through Mastercard payment cards, NOW Money customers will have secure and …
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8 July 04:31 PM Saudi Arabia, UAE make 82% of GCC’s oil exports to Japan in May 2024
Mubasher: Saudi Arabia and the UAE accounted for 82% of the GCC countries' total oil exports to Japan in May 2024, with their exports totalling about 53.69 million barrels. The GCC countries exported about 61.85 million barrels of crude oil to …
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8 July 02:44 PM EMX introduces EMX International to facilitate e-commerce delivery in GCC
UAE - Mubasher: EMX, a 7X logistics provider, launched EMX International to streamline e-commerce parcel delivery across the GCC region. The new service consolidates shipments to GCC, allowing companies to utilise Dubai as a gateway and optimise …
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8 July 12:54 PM NBK seals 5-year deal to deploy Super iPaaS solution in Middle East
Mubasher: The National Bank of Kuwait (NBK) has entered into a five-year strategic partnership agreement with Software AG, a leading technology solutions company, to utilise its Super iPaaS solution as a unified platform for integrating …
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8 July 11:46 AM Saudi Arabia ranks 3rd in EMEA 5G download speeds – Opensignal
Riyadh – Mubasher: Saudi Arabia held the third position in 5G Download Speed among key markets in the EMEA region, according to a report released by Opensignal. The report highlighted that the Kingdom witnessed a significant improvement in 5G …
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8 July 10:42 AM Riyadh ranks among world’s top 15 fastest-growing cities by 2033 – Report
Riyadh – Mubasher: The Saudi Arabian capital, Riyadh, has ranked among the world’s top 15 fastest-growing cities by 2033 based on economy, population, and wealth in the Savills Growth Hubs Index. Riyadh’s population is anticipated to grow by 26% …
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7 July 11:13 AM BinDawood, Regional Group ink MoU to open 8 branches in Qatar
Riyadh – Mubasher: BinDawood Holding Company has signed a non-binding memorandum of understanding (MoU) with Regional Group Company in Qatar for commercial franchise rights to open eight branches under BinDawood brand in Qatar. The deal comes in …
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7 July 08:53 AM Radius Group, Knight Frank MENA to launch 1st UAE project
UAE – Mubasher: Radius Group teamed up with Knight Frank MENA to launch the Radius City Logistics project in Dubai Investments Park 2 (DIP II), according to a press release. Knight Frank MENA’s Industrial and Logistics team will facilitate the …
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4 July 04:53 PM Mastercard, LuLu Group partner to foster sustainability in GCC’s retail payments
UAE - Mubasher: Mastercard has entered into a partnership with the UAE-based LuLu Group to boost sustainability, innovation, and efficiency in retail payments across the six GCC markets. The partnership, extending across Bahrain, Kuwait, Oman, …
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4 July 03:51 PM Egypt's construction industry to expand 8% annually until 2029 – JLL
Cairo – Mubasher: Egypt's construction industry, the largest in Africa and third largest in the MENA region, is projected to grow at a compound annual growth rate (CAGR) of more than 8% until 2029, according to JLL’s construction market …
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4 July 10:35 AM India’s CoinDCX acquires Dubai-based BitOasis to expand in MENA
Mubasher: CoinDCX, the largest crypto exchange in India, has acquired Dubai-based virtual assets trading platform BitOasis, for an undisclosed value, according to a press release. CoinDCX previously invested in BitOasis during August 2023 and the …
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4 July 08:59 AM UAE’s crypto sector projected to hit $396m by 2028
UAE - Mubasher: The revenue in the UAE’s crypto sector is expected to grow by 7.89% year-on-year (YoY) to $395.80 million by 2028, up from $292.10 million in 2024. Bitpanda, Europe’s largest crypto platform and infrastructure provider, recently …
Patrick Johansson, Ericsson's Head of Market Area Middle East and Africa
3 July 09:41 AM Ericsson appoints Johansson as Head of MMEA region
Mubasher: Nasdaq-listed Ericsson has announced Patrick Johansson as its new Head of Market Area Middle East and Africa (MMEA) and Senior Vice President. The new head will replace Fadi Pharaon whose decision to leave Ericsson was announced in May …
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3 July 09:16 AM Global tech firm SharkNinja to launch HQ in EMEA region
Mubasher: SharkNinja, the $10 billion leading home technology company,  inked a deal with Battersea Power Station to establish its new EMEA headquarters (HQ), according to a press release. The global tech company signed the first occupier at the …
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2 July 04:43 PM Act Financial seeks stakes in real estate, logistics companies – Managing Partner
By: Abdel Razek El-Showeikhy Cairo – Mubasher: Act Financial is planning to acquire stakes in real estate, healthcare, and logistics companies, Managing Partner Mostafa Abdelaziz told Mubasher in an interview. The company is finalising procedures …
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2 July 04:05 PM Relm Insurance scales up operations in MENA region
Mubasher: Relm Insurance Limited expanded in the MENA region through the acquisition of B&F Partners Limited, now known as Relm Insurance MENA Limited, according to a press release. This strategic move enables Relm Insurance to launch operations …
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2 July 03:00 PM PwC Middle East unveils new partners to regional offices
Mubasher: PwC Middle East has announced the addition of 92 new partners that endorse its partnership for the Middle East, according to a press release. The additions were made across PwC Middle East’s services that include assurance, consulting, …
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1 July 03:21 PM ITIDA, Telecom Egypt, Nokia to expand ICT services in MEA
Cairo – Mubasher:  The Information Technology Industry Development Agency (ITIDA) signed a memorandum of understanding (MoU) with Telecom Egypt and Nokia, according to a press release. The agreement, which was inked during the Egypt-EU Investment …
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1 July 09:33 AM Egyptian Emirates unveils Middle East’s 1st automotive integrated industrial city
Cairo – Mubasher: The Egyptian Emirates Company has launched the Markabat project, the first integrated industrial city for automotive feeder industries in the Middle East, according to a press release. The project, which included joint …
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27 June 04:01 PM Newgen Software introduces personalised AI-powered platform for Middle Eastern banks
UAE – Mubasher: Newgen Software, a global provider of low-code digital transformation platforms, has launched generative AI-powered hyper-personalisation platform LumYn in the Middle East. LumYn is tailored for the banking sector and is set to …