Category: MENA

DUBAI, UAE: Islamic Arab Insurance Company, listed as “SALAMA“, will acquire the insurance portfolio of Dubai Islamic Insurance and Reinsurance Company (AMAN) which includes its motor, medical, non-motor and group life insurance business. The transaction is subject to customary regulatory approval and expected to conclude in Q1 2023. The target portfolio generated AED 198.59 million…

ABU DHABI, UAE: AD Ports Group (ADX: ADPORTS) has signed a shareholder agreement with KMTF (Kazmortransflot), a fully-owned offshore logistics and services subsidiary of the Kazakh National Oil Company (KazMunayGas), to launch an exclusive joint venture, 51 percent owned by AD Ports Group and 49 percent owned by KMTF, to provide offshore and shipping services…

MANAMA, BAHRAIN: Sustainability Forum Middle East announced Infracorp as “Lead Partner – Sustainable Infrastructure” for its upcoming inaugural edition focusing on “Business Transition to Net-Zero – the Path Towards a Successful Low-Carbon Future”. The partnership was launched at a signing ceremony at Infracorp’s headquarters at Bahrain Harbour between Infracorp CEO and Board Member, Mr. Majed…

DUBAI, UAE: Sukoon Insurance has launched ‘Health Extend’ – a unique product in the UAE that allows employers to limit their budget while giving employees the freedom to add specific covers according to their own needs. By launching Health Extend, Sukoon Insurance introduces a significant innovation in the UAE market by giving employers a medical…

ABU DHABI, UAE: Alpha Dhabi Holding, one of the fastestgrowing investment holding companies in the UAE listed on the Abu Dhabi Securities Exchange (ADX: Alphadhabi), announces that it has acquired an interest in Nammos Group as a result of its joint venture partnership with Monterock International, an international investment company with a focus on hospitality…

MANAMA, BAHRAIN: Gulf International Bank (GIB) announced its participation in the R.A.C.E Sustainability Summit where it joined the latest signatories of the Abu Dhabi Sustainable Finance Declaration during the first edition of Abu Dhabi Finance Week (ADFW) hosted by Abu Dhabi Global Market (ADGM). The Abu Dhabi Sustainable Finance Declaration is a voluntary membership-based initiative…

DUBAI, UNITED ARAB EMIRATES: Sukoon has finalized the acquisition of the UAE Life insurance portfolio from Assicurazioni Generali S.p.A. The agreement, signed on February 22nd, 2022, is in line with Generali’s overall strategy to rationalize its business model in UAE by strengthening its ecosystem of partnership proposition. The transfer which covers unit-linked life insurance policies…

KUWAIT CITY: KIPCO – Kuwait Projects Company (Holding) – has announced the completion of its merger by amalgamation with Qurain Petrochemical Industries (QPIC). The merged entity is now trading on Boursa Kuwait under a single ticker, KPROJ. Marking the completion of the transaction, all QPIC shares have been transferred to KIPCO following an in-kind capital…

DUBAI, UAE: Invictus Investment (ADX: INVICTUS) announced the capital expenditure of AED 2.8 million to procure a fleet of over 8 refrigerated trucks to enable movement of perishable goods between Sudan, UAE and Saudi Arabia. The purpose-built vehicles will transport key items such as chilled meat of lamb, beef, and goat along with fruits. This…