Doha, Qatar: Aamal Company Q.P.S.C., one of the region’s leading diversified companies, announced that its fully owned subsidiary, Aamal Trading and Distribution, intends to start negotiations with Integrated Information Systems Company (IIS) to acquire it. Information Systems Company (IIS) is a leading provider of a wide range of IT solutions and services to companies in…
Category: MENA
Corporate news and announcements from the stock markets of Middle East and North Africa.
du announces net zero carbon emissions targets by 2030 and 2050
Dubai, UAE: du, from Emirates Integrated Telecommunication Company (EITC), has announced its commitment to achieving net zero Scope 1 and 2 emissions within its operations in the UAE by 2030 and Scope 3 by 2050. The company will be focusing on key initiatives to reduce its carbon footprint, including improving energy efficiency and sourcing renewable…
Empower meets its key customers to discuss the new developments in the district cooling sector.
DUBAI: Emirates Central Cooling Systems Corporation PJSC (Empower), the world’s largest district cooling services provider, held the first meeting with its key customers for the year, aimed at highlighting the new developments in district cooling sector and educating on Empower’s practices in the district cooling operations. The company also showcased its unprecedented and advanced technologies…
GFH Signs Strategic Partnership with FII Institute
MANAMA: GFH Financial Group (“GFH” or “the Group”) today has been announced as a Strategic Partner of Future Investment Initiative (FII) Institute, joining the Institute’s list of world-class global partners. FII Institute is a leading nonprofit foundation with an investment arm and one agenda: “Impact on Humanity.” Its partners include major global and regional banking…
Gulf International Bank partners with Noon to support the acquisition of Namshi
Manama: Gulf International Bank B.S.C. (GIB) today announced that it has structured and fully underwritten a facility for Noon AD Holdings Ltd and Noon Investment Company CJSC (together with the Noon Group) to support the full acquisition of Namshi Holdings Limited from the UAE’s largest publicly traded developer, Emaar. “We’ve been working hard to provide the best possible…
ADNOC and TAQA partner to develop $2.4 billion sustainable water project
Abu Dhabi, UAE: ADNOC and Abu Dhabi National Energy Company PJSC (TAQA) have announced a strategic investment project worth up to $2.4 billion (AED 8.8 billion) to provide sustainable water supply for ADNOC’s onshore operations. The project will develop a centralized world-class seawater treatment facility and transportation network for operations at the Bab and Bu…
TAQA to invest in Uzbekistan’s power sector in partnership with the government
ABU DHABI, UAE: Abu Dhabi National Energy Company PJSC (TAQA), one of the largest listed integrated utilities in the region, has signed a strategic framework agreement and an implementation agreement with the Government of Uzbekistan to explore strategic opportunities for investment in Uzbekistan’s power sector. These opportunities include new and existing power plants as well…
Fertiglobe reports lower revenue amid European gas prices and shipment deferrals
ABU DHABI, UAE: Fertiglobe, the joint venture between ADNOC and OCI Global, has reported its financial results for Q1 2023, revealing a revenue of $694 million, adjusted EBITDA of $297 million, adjusted net profit of $135 million, and free cash flow of $271 million. The lower selling prices during the quarter was due to continued…
SHUAA Capital appoints Wafik Ben Mansour as Head of Investment Banking
UNITED ARAB EMIRATES: SHUAA Capital psc (DFM: SHUAA), the leading asset management and investment banking platform in the region, has appointed Wafik Ben Mansour, a seasoned investment banking professional, as Head of Investment Banking, succeeding Fawad Tariq Khan who took over as Group CEO last year. Previously serving as Managing Director at Credit Suisse, Wafik…
e& acquires majority stake in Beehive, MENA’s leading crowdfunding platform
ABU DHABI, UAE: e& enterprise, a subsidiary of Emirates Telecommunications Group Company PJSC, also known as “e&”, has signed a binding agreement to acquire a majority stake in Beehive Group Holdings Limited, which is the first regulated online marketplace for peer-to-peer lending to SMEs (small and medium-sized enterprises) in the MENA (Middle East and North…
Empower confirms readiness to meet increasing demand for district cooling services during summer season in Dubai
DUBAI, UAE: Emirates Central Cooling Systems Corporation PJSC (Empower), the world’s largest provider of district cooling services, has announced its readiness to meet the increasing demand for its high-quality district cooling services during the summer season. The company has over 80% market share of the total district cooling market in Dubai and serves 1,463 buildings…
Qatar Airways triples flights to São Paulo, becoming dominant carrier to South America
Qatar Airways has announced an increase in its flights from Doha to São Paulo, Brazil, from double daily to 18 weekly flights starting from December 1st, 2023. The increase will see the airline operating triple daily flights to the South American city four days a week, using its 777-300ER aircraft. Qatar Airways first launched its…