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07 April 02:50 PM

Gulf news

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22 December 2024 05:32 PM ADNOC L&S boosts regional expansion via 20 offshore assets in 2024
Abu Dhabi – Mubasher: ADNOC Logistics & Services (ADNOC L&S) has expanded its integrated logistics business segment in 2024 after acquiring 20 offshore assets and securing 19 jack-up barge (JUB) deployments, according to a press release. The …
Companies Investments
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22 December 2024 05:02 PM United Mining Industries pens deal with RCJY to anchor expansion plans
Riyadh – Mubasher: United Mining Industries Company inked a conditional investment agreement with the Royal Commission for Jubail and Yanbu (RCJY) on 18 December 2024. The Saudi company will allocate land in Yanbu Industrial City with an area of …
Companies Investments
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22 December 2024 03:56 PM Modon Holding enters Europe’s real estate market via acquisition deal
Abu Dhabi – Mubasher: Modon Holding has completed the acquisition of La Zagaleta S.L, the owner of the exclusive La Zagaleta residential estate in Costa del Sol, Spain. Supporting its international investment and expansion strategy, the …
Mergers and Acquisitions
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22 December 2024 03:05 PM Masdar fully acquires Saeta to reinforce footprint in Iberian Peninsula
Abu Dhabi – Mubasher: Abu Dhabi Future Energy Company (Masdar) has fully acquired Saeta Yield from Brookfield Renewable and its institutional partners for an implied enterprise value of EUR 1.20 billion. This transaction includes an operating and …
Companies Investments
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22 December 2024 02:10 PM SVC invests in Raed Ventures to foster MENA’s tech startups
Riyadh – Mubasher: Saudi Venture Capital (SVC) injected an investment in Raed III L.P., an early-stage venture capital fund managed by Raed Ventures, according to a press release. The fund will target tech and tech-enabled startups across Saudi …
Companies Investments
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22 December 2024 00:34 PM Global digital operator VEON moves HQ to Dubai
UAE – Mubasher: VEON Limited, a global digital operator, has completed the move of its group headquarters (HQ)from Amsterdam to Dubai, according to a press release. This announcement follows the board’s approvals during their meetings in Amsterdam …
Global Economy
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22 December 2024 11:48 AM Hikma acquires portfolio of Takeda brands for MENA region
Mubasher: Hikma Pharmaceuticals has agreed with Takeda Pharmaceuticals International AG to develop a portfolio of products in the MENA region. The multinational pharmaceutical group plans to acquire the rights to 17 brands licensed to Hikma for …
Companies Investments
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22 December 2024 10:12 AM MENA-focused Paymob strengthens Apple Pay service in Egypt
Cairo – Mubasher: Paymob, the leading financial services enabler in the MENA region, has enabled its merchant network to accept Apple Pay in Egypt, according to a press release. Paymob will allow its consumers to use their Apple devices to …
Central Banks
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19 December 2024 09:08 PM ACWA Power eyes SAR 7.1bn capital hike
Riyadh – Mubasher: ACWA Power Company has submitted an application request to increase its capital by offering the rights issue to the Capital Market Authority (CMA) on 18 December 2024. The board recommended the capital hike through the issuance …
Corporate Actions
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19 December 2024 08:55 PM DP World boosts maritime in Senegal via $1.2bn port
UAE – Mubasher: DP World commenced the maritime construction for its $1.20 billion Port of Ndayane, a project set to transform Senegal into a major centre for global trade, according to a press release. The dredger Willem Van Rubroeck arrived in …
Companies Investments
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19 December 2024 08:33 PM Bawan rolls out SAR 832m supply deal with Aramco
Riyadh – Mubasher: Petronash Arabia Company Limited, a subsidiary of Petronash Holding Company, has received a purchase order for an existing contract with  Saudi Arabian Oil Company (Aramco) to supply special gas well products. Bawan …
Companies Investments
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19 December 2024 08:03 PM Makkah Construction obtains regulatory nod for SAR 352m capital raise
Riyadh – Mubasher: The Capital Market Authority (CMA) approved the request of Makkah Construction and Development Company to increase its capital from SAR 1.64 billion to SAR 2 billion. In order to implement the transaction, the company will issue …
Management Decisions
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19 December 2024 07:30 PM Riyadh-based OmniOps raises $8m to promote AI infrastructure offerings
Riyadh – Mubasher: OmniOps, the first Saudi Arabia-based AI Infrastructure Technology provider, has closed a SAR 30 million (nearly $8 million) funding round from GMS Capital Ventures.  The investment will enable the company to scale its …
Companies Investments
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19 December 2024 07:24 PM Aqua Development joins ADQ for shrimp farming facility, plans regional expansion
UAE – Mubasher: South Korean aquaculture startup Aqua Development has teamed up with ADQ, an active global sovereign investor with a focus on critical infrastructure and supply chains, to explore the feasibility of land-based shrimp farming in the …
Global Economy
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19 December 2024 06:55 PM Infobip boosts existing MENA presence with platform in Qatar
Mubasher: Global cloud communications firm Infobip supports Qatar’s digital transformation with a locally hosted platform, leveraging Microsoft Azure Cloud infrastructure, according to a press release. This strategic move aims to empower Qatari …
Companies Investments
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19 December 2024 06:41 PM UAE explores with China ways to enhance economic, investment relations in various sectors
UAE – Mubasher: The UAE-China Joint Investment and Economic Cooperation Working Group convened for its inaugural meeting aimed at enhancing the economic ties and investment growth between UAE and China, according to a ministerial press release. …
Ministries
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19 December 2024 06:11 PM GCC airport market seen to grow at 9.5% CAGR during 2024 to 2032 – Abra
Mubasher: The flourishing tourism industry in the GCC region, which boosts footfall in airports and other duty-free zones, is propelling the market growth forecast at a 9.5% compound annual growth rate (CAGR) during 2024 to 2032, according to …
Macroeconomics
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19 December 2024 05:05 PM Canadian ROSA eSolutions enters UAE, aims to drive customer engagement in Middle East
Mubasher: The Canadian fast-growing digital marketing consultancy ROSA eSolutions unveiled its entry into the UAE market. The firm aims to leverage its expertise to drive authentic growth and foster meaningful customer engagement for businesses in …
Companies Investments
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19 December 2024 04:50 PM Two UAE-listed banks close GBP 140m financing for London-based asset
Mubasher: Emirates NBD Bank and Abu Dhabi Islamic Bank (ADIB) jointly closed a GBP 140 million senior financing transaction for a prime purpose-built student accommodation (PBSA) asset in central London. This cub deal enhances the UAE’s banking …
Banking and Finance
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19 December 2024 03:57 PM Wizz Air Abu Dhabi enhances global travel experience with new route to Romania
UAE – Mubasher: Wizz Air Abu Dhabi, the ultra-low-fare national airline of the UAE, announces that from 30 March 2025, its Bucharest flights will be relocated from Bucharest Henri Coanda International Airport to the centrally located Bucharest …
Global Economy
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19 December 2024 07:34 AM AD Ports, Hassan Allam to develop 1st internationally operated port terminal in Upper Egypt
Abu Dhabi – Mubasher: AD Ports Group has appointed Hassan Allam Construction, Hassan Allam Holding’s flagship subsidiary and one of the leading contractors in the MENA region, to build the infrastructure of Noatum Ports - Safaga Terminal on …
Global Economy
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19 December 2024 07:26 AM FAAD Capital announces 1st global expansion via Dubai launch
UAE – Mubasher: FAAD Capital, a SEBI-registered Category 1 Angel Fund headquartered in Gurgaon, has launched its investor network in Dubai, marking the fund’s first international expansion. The expansion aligns with FAAD’s commitment to backing …
Companies Investments
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19 December 2024 07:16 AM Egypt Economic Summit’s 4th edition to kick off in January 2025
Cairo – Mubasher: The fourth edition of the Egypt Economic Summit is set to take place on 14 January 2025 under the theme of “Egypt's Economic Vision: Towards Leadership and Global Competitiveness. This event will provide a strategic platform to …
Global Economy
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19 December 2024 07:08 AM Al Rajhi Bank unveils partnership to enhance travel experiences globally
Riyadh – Mubasher: Al Rajhi Bank and Marriott Bonvoy have joined forces with Visa and launched the Marriott Bonvoy Alrajhi bank Credit Card in Saudi Arabia, according to a press release. The new cobrand credit card provides citizens and residents …
Global Economy
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18 December 2024 09:01 PM IHG Hotels unveils 1st voco hotel in Jeddah; property to attract business, leisure travellers
Riyadh – Mubasher: InterContinental Hotels Group (IHG Hotels & Resorts) opened its first voco hotel in Jeddah as part of its premium portfolio to be perfectly situated for both business and leisure travellers, according to a press release. Located …
Companies Investments