ABU DHABI, UAE: Fertiglobe, the strategic partnership between ADNOC and OCI Global, has completed the first shipment of the world’s first internationally recognized renewable ammonia with ISCC PLUS (International Sustainability and Carbon Certification) certification. The renewable ammonia was produced at the company’s facilities in Egypt using renewable hydrogen from its pilot Egypt Green Hydrogen electrolyzer…
Category: MENA
Corporate news and announcements from the stock markets of Middle East and North Africa.
Al Ansari receives approval to launch digital wallet targeting the unbanked population
DUBAI, UAE: Al Ansari Digital Pay, a subsidiary of Al Ansari Financial Services PJSC, announced receiving the initial approval of a Store Value Facilities and Retail Payment Service Provider license from the Central Bank of the UAE. Aligned with the government’s ‘cashless society’ initiative and in support of the ‘financial inclusion’ agenda, Al Ansari Digital…
SHUAA appoints Wafik Ben Mansour as Acting CEO
UNITED ARAB EMIRATES: SHUAA Capital psc, the leading asset management and investment banking platform in the region, has announced the appointment of Wafik Ben Mansour as Acting CEO. Wafik will lead the next phase of SHUAA’s capital optimisation process to create a growth platform and capitalise on market opportunities in the UAE and wider region….
Gulf International Bank achieves record results in the past decade with 141% growth in net income
DUBAI: In the third quarter of 2023, the Gulf International Bank’s dedication and commitment to achieving strategic objectives resulted in a remarkable 255% increase in net profit attributable to the Bank’s shareholders, totalling $41.2 million for the quarter, surpassing the previous year’s $11.6 million for the same period. This outstanding achievement is primarily a result…
GFH to buy Saudi food and logistics firm for SAR 500 million
RIYADH: GFH Financial Group announced today that it has signed to acquire a leading food services and logistics company in Saudi Arabia, with an enterprise value of about SAR 500 million. The deal was announced at the Future Investment Initiative in Riyadh. The company has a strong financial performance and a diverse customer base of…
Zain FinTech and Al Ansari Financial Services team up to enhance fintech solutions
DUBAI: Zain FinTech, the financial services arm of Zain Group, a leading telecom group in the Middle East and Africa, has signed a deal with Al Ansari Financial Services, a UAE-based financial services group. The deal aims to use technology to improve financial services for their customers across the region. The deal was signed by…
Aleph Group joins UNESCO’s Global Education Coalition to promote digital skills
DUBAI, UAE: Aleph Group, Inc, a digital advertising company, has announced its partnership with UNESCO’s Global Education Coalition, a multi-sector initiative to ensure the continuity and transformation of learning during and after the COVID-19 pandemic. Aleph’s social initiative, Digital Ad Expert, will support UNESCO’s Global Skills Academy, which aims to help ten million young people…
Safanad Expands Leadership Team with Three New Partners, Launches Safanad KSA with Plans to Deploy US$3B+ into KSA over Five Years
RIYADH, SAUDI ARABIA: Safanad, a global holding company combining investment and operational excellence, announced the expansion of its leadership team with three new Senior Partners – Saleh Romeih, Faisal Rehman, and Christopher Fazekas – to further enhance its investment and operational capabilities as the firm launches Safanad KSA to execute a US$3B (SAR 11B+) investment…
Gulf International Bank Becomes a Signatory to the UN Women’s Empowerment Principles
MANAMA: Gulf International Bank B.S.C. (GIB) today announced that it has become a signatory to the Women’s Empowerment Principles (WEPs). Established by UN Women and UN Global Compact, WEPs are a set of principles offering guidance to businesses on how to advance gender equality and women’s empowerment. By joining the WEPs community, GIB continues to…
National Bank of Umm Al Quwain achieves 385 million dirhams in net profits during the first nine months of 2023
UNITED ARAB EMIRATES: National Bank of Umm Al Quwain (NBQ) has reported a net profit of AED 385 million for the 9-months period ended on 30 Sep 2023, reflecting a 48% increase compared to the AED 260 million for the 9-month period of 2022. This impressive result testifies to the bank’s commitment to operational efficiency…
Al Seer Marine receives VLGC North Gas, increasing fleet size to 20
ABU DHABI, UAE: Al Seer Marine (ADX: ASM), a prominent global player across multiple marine sectors and a subsidiary of Abu Dhabi-based International Holding Company (ADX: IHC), has announced the takeover of the very large gas carrier (VLGC) North Gas. This strategic move marks the second VLGC delivery under the AED 495 million deal signed…
Saudi Aramco seeks to buy 10% stakes in Shandong Yulong Petrochemical
DUBAI : Saudi Aramco is in talks to buy a 10 per cent stake in Shandong Yulong Petrochemical Co, it said on Wednesday. Shandon Yulong is building a refinery complex that can process 400,000 barrels of crude a day in eastern China’s Shandong province. Aramco and the firm have signed a memorandum of understanding to…