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…

Ali Mirza May 4, 2023

MENA

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…

NNR April 24, 2023

MENA

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…

NNR April 19, 2023

MENA Ratings

Gulf International Bank receives ratings upgrades from Fitch to ‘A-‘/Stable

MANAMA, BAHRAIN: Gulf International Bank (GIB) announced that Fitch Ratings has upgraded its Long-Term (LT) Issuer Default Ratings (IDR) to 'A-'/Stable from 'BBB+'/Positive for Gulf International Bank BSC, Gulf International…

NNR April 19, 2023

MENA

Al Salam Bank introduces Samsung Wallet, enabling secure contactless payments

MANAMA, BAHRAIN: Al Salam Bank has launched Samsung Wallet, a new and secure payment method that allows clients to make contactless payments using their Samsung devices at any point-of-sale or…

NNR April 17, 2023

MENA

Burjeel Holdings and OncoHelix to open cutting-edge lab for personalized medicine in UAE

ABU DHABI, UNITED ARAB EMIRATES: Burjeel Holdings, one of the largest healthcare service providers in the Middle East and North Africa (MENA) region, has announced a partnership with OncoHelix Inc.…

NNR April 13, 2023

MENA

Emirates Telecom to acquire 50.03% stake in Careem’s super-app business for $400 million

ABU DHABI, UAE: Emirates Telecommunication Group Company (e&) signed a binding agreement with Uber Technologies Inc. to acquire a majority stake of 50.03% in Careem’s super-app business, currently part of…

Ali Mirza April 10, 2023

Australian Exchange MENA

NOVONIX and TAQAT to setup battery material facility in Saudi Arabia

RIYADH/SYDNEY: NOVONIX Limited has agreed to establish an incorporated joint venture with TAQAT to develop and produce anode materials for electric vehicle and energy storage system batteries in the Middle…

NNR March 30, 2023

MENA

Empower approves distributing AED 425 million dividends to shareholders

DUBAI - UNITED ARAB EMIRATES: The General Assembly of Emirates Central Cooling Systems Corporation PJSC (Empower), in a meeting convened with a quorum of 86.82% of the Company's paid-up share…

NNR March 30, 2023

MENA

Standard Chartered to sell its Jordanian business to Arab Jordan Investment Bank

DUBAI, UAE: Standard Chartered plans to sell its Jordanian business to Arab Jordan Investment Bank (AJIB), as the bank presses ahead with plans to exit seven markets in Africa and…

NNR March 26, 2023

MENA

Al Baraka Group wins big at the Islamic Finance News ceremony

MANAMA, BAHRAIN: The Bahrain based Al Baraka Group B.S.C ("ABG" / the "Group") has announced two of its Units won the prestigious Islamic Finance News Awards for "Best Digital Offering".…

NNR March 26, 2023

MENA

Dubai Islamic Bank shareholders approve 30% dividend for 2022

DUBAI, UAE: Dubai Islamic Bank (DIB) concluded its Annual General Assembly (AGM) with the approval of the bank’s 2022 financial statements and other tabled resolutions, demonstrating the confidence of the…

NNR March 16, 2023