DUBAI: Emirates Stallions Group (ESG), a global investment, engineering, and construction solutions company and a subsidiary of International Holding Company (IHC), has announced the acquisition of a 60% stake in AFKAR Financial & Property Investments, an Abu Dhabi-based company with diversified interests across the UAE. The deal marks ESG’s robust expansion in the real estate…
Category: MENA
Corporate news and announcements from the stock markets of Middle East and North Africa.
Sure Global Tech signs a 100 million Riyal deal with the KSA Ministry of Investment
RIYADH: Sure Global Tech Co., a leading provider of technical solutions and services, announced that it has signed an open framework agreement with the Ministry of Investment, KSA, to develop the services and applications of technical investment systems. The agreement, which is worth 100 million Saudi riyals, will span four years and will include maintaining…
GULFNAV acquires Turkish Polimar Holding’s 40% stake in Gulf Navigation Polimar Maritime
DUBAI, UAE: Gulf Navigation Holding (GULFNAV), the Dubai Financial Market listed maritime and shipping company, has acquired 40% of the Turkish Polimar Holding Company’s stake in Gulf Navigation Polimar Maritime, which is specialized in the field of Maritime Agency Services. Thus, increasing its stake from 60% to 100%. This acquisition aims to increase revenues by…
Phoenix Group to acquire a 25% stake in Lyvely Ltd
ABU DHABI: Phoenix INV Holdings, a wholly owned subsidiary of Phoenix Group PLC, has entered into a subscription and investment agreement dated 26th December 2023 to acquire a 25% stake in Lyvely Ltd. Phoenix Group is currently completing all required procedures to implement the said transaction. Lyvely Ltd is a company that provides a platform…
Empower and ASHRAE enter into a global partnership
DUBAI: Emirates Central Cooling Systems Corporation PJSC (Empower), the world’s largest district cooling services provider, and the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) met in Dubai to collaboratively formulate short and long-term strategies and action plans towards the global expansion of the district cooling industry while ensuring the widespread sharing of knowledge…
GIB Saudi Arabia raises SAR 1.5 billion in debut Sukuk issuance
Gulf International Bank – Saudi Arabia (GIB KSA), a leading bank in the Kingdom, has successfully issued its first Tier 2 Sukuk worth SAR 1.5 billion under its newly established SAR 3 billion Tier 2 Sukuk programme. The Sukuk, which has a tenor of 10 years with a call option after five years, was oversubscribed…
Fitness Time Xpress opens new men-only center in Riyadh
RIYADH: Fitness Time Xpress, a brand of Leejam Sports Company, is opening a new men-only fitness center in Riyadh on Sunday, December 24, 2023. The center will offer 24-hour service, digital features, and flexible plans at an affordable price, without swimming pools. The aim is to make fitness more accessible and support Saudi Arabia’s vision…
How to Get the Best Deals from Al Salam Bank at the Autumn
DUBAI: As the official and exclusive sponsor of Informa Markets exhibitions, Al Salam Bank has launched a special campaign for all attendees of the Autumn Fair, which runs from 21 to 29 December 2023. The campaign aims to enhance the banking experience of its clients by offering them various exclusive benefits. Visitors can visit Al…
How Bahrain Leads the Way in Islamic Finance Innovation
Bahrain is a global leader in Islamic finance, a sector that combines ethical principles with financial services. The country hosts several influential organizations that set the standards and best practices for the industry, such as AAOIFI, International Islamic Financial Market and the General Council for Islamic Banks and Financial Institutions. Bahrain is also a pioneer…
Yellow Door Energy to develop solar plants at Agthia Group’s production sites
ABU DHABI, UAE: Agthia Group PJSC, one of the region’s leading food and beverage companies, announced today a significant step towards reducing its carbon footprint. The formalization of this green alliance with Yellow Door Energy, a renowned solar developer headquartered in the UAE, occurs through the execution of Letter of Award and subsequent signing of…
GIB-Saudi Arabia partners with Eayni Recycling Association to recycle bank’s waste
AL-KHOBAR: Gulf International Bank – Saudi Arabia (GIB) has announced a collaboration with Eayni Recycling Association Cooperative, a local waste management company, to recycle the bank’s waste in Al Khobar, Riyadh and Jeddah. The agreement is part of GIB’s sustainability drive and effort to reduce its environmental impact. Eayni will collect and recycle all plastics,…
OSN buying majority stake in Anghami to create region’s largest streaming platform
KUWAIT: OSN, a subsidiary of KIPCO and the leading pay-TV network in the MENA region, has announced a deal to merge its premium content streaming platform, OSN+, with Anghami, the region’s leading music and entertainment streaming platform. The deal will be backed by an investment of up to US$50 million (KD 15.4 million) from OSN…