Category: MENA

ABU DHABI, UAE: Mubadala Investment Company (Mubadala) and Abu Dhabi National Energy Company PJSC (TAQA) will each acquire a 40% stake in two gas-fired power plants, in the Talimarjan power complex in Uzbekistan, with a combined capacity of 1.6 gigawatts (GW) and the assumption of associated operations & maintenance activities. The Talimarjan Issiqlik Elektr Stansiyasi…

SINGAPORE: Ooredoo has entered into a definitive agreement to sell 100 percent of its equity in Ooredoo Asian Investments Pte Ltd. (Singapore) (OAI), the parent company that owns 100 percent of Ooredoo Myanmar Ltd. (OML), and 100 percent of Ooredoo Myanmar Fintech Ltd. (OMFL) to Nine Communications Pte. Ltd. for an enterprise value of approximately…

ABU DHABI, UAE: Al Seer Marine (PJSC), a global player across multiple marine sectors and subsidiary of International Holding Company (IHC), has entered into a collaboration agreement with Netbulk Pte Ltd, a one stop maritime solution company based in Singapore, as part of its growth strategy to expand its worldwide freight services. Founded in 2015,…

MANAMA, BAHRAIN: Ithmaar Holding announced that the Ithmaar Holding Chief Executive Officer, Ahmed Abdul Rahim, who is also the Chief Executive Officer of the Company’s two wholly owned subsidiaries, Ithmaar Bank and IB Capital, as well as Ithmaar Bank Deputy Chief Executive Officer, Abdul Hakeem Khalil Al Mutawa, will both retire from their executive roles…

MANAMA, BAHRAIN: Al Salam Bank announced the launch of its exclusive scheme catering to the youth aged between 10 to below 18 years old, enabling them to open a Savings or Danat Savings account and benefit from the various digital services provided through the Bank’s mobile application including the Fils Challenge, Saving Goals feature, and…

CAIRO, EGYPT: valU, MENA’s leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform, announced today that it acquired 100% of Paynas, a full-fledged employee management and benefits company that provides financial services to micro, small, and medium enterprises (MSME) in a signing ceremony attended by Dr. Rania A. Al-Mashat, Minister of International Cooperation The acquisition builds on…

DUBAI, UAE: Dubai Electricity and Water Authority (DEWA)’s R&D Centre employs Artificial Intelligence (AI), Machine Learning (ML) and Deep Learning (DL) to promote DEWA’s efforts to enrich the experience of customers, employees, and stakeholders. This also aims to reduce costs and carbon emissions in addition to promoting energy efficiency, smart grid integration and improving the…

CAIRO, EGYPT: EFG Hermes Holding, an impact driven universal bank in Egypt with the leading investment bank franchise in Frontier Emerging Markets (FEM), announced today the appointment of Aladdin ElAfifi as the new CEO of its NBFI platform effective August 1st, 2022. With his appointment, Aladdin ElAfifi will assume the overall responsibility in leading the…

MANAMA, BAHRAIN: Roebuck Asset Management and ICG Real Estate, the real estate business of Intermediate Capital Group (ICG), have formed a Joint Venture (JV) to aggregate an urban logistics / last mile portfolio across Spain. The partnership represents another milestone for GFH as it continues its expansion and the realisation of the Group’s asset management…

DUBAI, UAE: Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), announced that DEWA has plans to invest AED 40 billion on capital expenditure in the next five years including the expansion of renewable and clean energy projects. He noted that DEWA plans to invest about AED 16 billion to…