MANAMA, BAHRAIN: Al Areen Holding Company, a subsidiary of GFH Financial Group engaged in the development of the Al Areen desert project, announced the appointment of Eng. Ahlam Zainal as CEO of Al Areen Holding. Eng. Zainal has more than 16 years of experience in the real estate investment and development sector, during which time…
Category: MENA
Corporate news and announcements from the stock markets of Middle East and North Africa.
Empower and Dubai Maritime City sign district cooling services deal
DUBAI, UNITED ARAB EMIRATES: Emirates Central Cooling Systems Corporation PJSC (Empower) and Dubai Maritime City (DMC), have signed an agreement to provide district cooling services to the DMC project with a cooling capacity of more than 63,000 Refrigeration Tonnes (RT). The agreement was signed by Ahmad bin Shafar, CEO of Empower, and Sultan bin Sulayem,…
First Abu Dhabi Bank appoints Michel Longhini as Group Head of Global Private Banking
ABU DHABI, UAE: First Abu Dhabi Bank (FAB) announced the appointment of Michel Longhini as Group Head of Global Private Banking and member of the company’s Executive Committee. In this role, Michel Longhini will focus on strengthening FAB’s private banking proposition, while driving growth in key areas of the Private Banking business and across its…
Abu Dhabi Ship Building signs Euro 1 billion defence export contract to Angolan Navy
ABU DHABI, UAE: Abu Dhabi Ship Building (ADSB) has signed its largest defence export contract to date, to deliver three BR71 MKII 71-meter corvettes, along with a number of its UAE designed tactical interceptor and patrol boats, UAVs, and integrated logistical support and training, to the Angolan Navy. The BR71 MKII corvette, a version of…
Al Mal Capital sells 42% interest in Poinsettia Plaza in Ventura, California
DUBAI, UAE: Al Mal Capital has sold its 42% interest in Poinsettia Plaza in Ventura California, US in a US$ 66.0 million deal. Acquired in 2016 in partnership with IRA Capital of Irvine California, Poinsettia Plaza is a multi-tenant shopping center with 153,000 square foot gross leasable area located on an 11-acre land area. On…
ADNOC Distribution completes acquisition of 50% stake in TotalEnergies Marketing Egypt
ABU DHABI, UAE: ADNOC Distribution has completed its acquisition from TotalEnergies Marketing Afrique SAS of a 50% stake in TotalEnergies Marketing Egypt LLC. The closing of this landmark transaction, which was first announced in July 2022, marks the official entry of the UAE’s largest fuel and retail distributor into the Egyptian market. The acquisition is…
e& acquires ServiceMarket, an online marketplace for household services
ABU DHABI, UAE: On the 14th of February 2023, Emirates Telecommunications Group Company (e&), has completed the acquisition of Service Souk DMCC “ServiceMarket”, buying 100% of shareholding of the online marketplace. This acquisition is in line with the Group’s strategy to empower consumers, strengthen Smiles online marketplace presence and drive diversification of our business. ServiceMarket…
DEWA and ENOC sign MoU to develop and operate a joint integrated pilot project for the use of hydrogen in mobility
DUBAI, UAE: In the presence of HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy, HE Suhail Al Mazrouei, Minister of Energy and Infrastructure, and HE Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, HE Saeed Mohammed Al Tayer, MD…
Embedding ESG into Islamic Finance – Opportunities for Innovation and Growth
MANAMA: The Annual Islamic Finance Innovation Day (IFID), founded and organized by FinMark Communications, today announced that its fourth edition is set to take place on 30 May 2023 at the Gulf Hotel in the Kingdom of Bahrain. The Forum will focus on “Embedding ESG into Islamic Finance – Opportunities for Innovation and Growth” and…
Al Salam Bank’s mobile app brings a new era of payday with salary advance launch
MANAMA, BAHRAIN: Al Salam Bank announced the launch of its latest app feature, “Advanced Salary”, enabling clients who receive their salaries through the Bank 15 days in advance. New clients can also take advantage of this service when transferring their salaries to Al Salam Bank. As part of Al Salam Bank’s efforts to elevate its…
BHM Capital obtains a new license from SCA as a financial advisor
UAE, DUBAI: BHM Capital Financial Services, one of the leading companies in the UAE’s financial markets, has been granted the license to become a Financial Advisor (Issuance Manager) from the Securities & Commodities Authority (SCA). Upon obtaining this license, BHM Capital will be able to provide financial consultation to issuing companies, manage the offering process…
KIPCO signs $525 million medium-term credit facility
KUWAIT CITY: KIPCO – the Kuwait Projects Company (Holding) announced that it has signed a US$ 525 million (KD 160.4 million equivalent) credit facility with a group of nine regional and international banks. The facility has an initial February 2025 maturity and a one-year extension option at KIPCO’s sole discretion. Standard Chartered Bank acted as…