MANAMA, BAHRAIN: Al Salam Bank has unveiled a nationwide campaign under the theme of ‘Inspired to Grow’, celebrating the Bank’s new chapter of accelerated growth. Inspired by the Bank’s commitment to support the social and financial wellbeing of the local community, as well as its Environmental, Social and Governance (ESG) obligations, the campaign aims to…
Category: MENA
Corporate news and announcements from the stock markets of Middle East and North Africa.
K Shipbuilding wins Product Tankers order from All Seer Marine worth AED643mn
ABU DHABI, UAE: K Shipbuilding, the leading Korean shipyard and one of the world’s largest shipbuilders for MR Tankers, will construct the four new medium-range (MR) IMO II/III product tankers at Jinhae Shipyard, which are expected to be delivered to Al Seer Marine (ADX: ASM) before the end of Q4 2024. Al Seer Marine, an…
valU acquires a minority stake in local fintech start-up, Kiwe
CAIRO, EGYPT: valU, MENA’s leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform, announced today its acquisition of a minority stake in local fintech start-up, Kiwe, the first youth social payment app that facilitates onboarding the unbanked segment in Egypt. Currently, EFG Hermes Finance, EFG EV Fintech, dFin Holding, and Marakez are among the firm’s existing shareholders….
Aramex has acquired Access USA Shipping (MyUS) for $265 million
DUBAI, UAE: Aramex PJSC, a leading global provider of comprehensive logistics and transportation solutions, has obtained all the necessary regulatory approvals and completed the acquisition of Access USA Shipping (MyUS), a global technology driven platform that enables cross-border e-Commerce, for an all-cash purchase price of approximately USD $265 million. The transaction marks Aramex’s largest acquisition…
800 MWp Al Kharsaah solar power plant inaugurated in Qatar
DOHA, QATAR: The Al Kharsaah solar power plant developed by TotalEnergies and its partners QatarEnergy, and Marubeni was inaugurated today by His Highness Sheikh Tamim bin Hamad Al Thani. The ceremony marked the completion of the construction works and the startup of the plant, which is now connected to the national grid. Located 80 km…
Abu Dhabi Aviation receives business combination offer from ADQ Aviation
ABU DHABI, UAE: The Board of Directors of Abu Dhabi Aviation (ADA) announced that it has received an offer from ADQ Aviation and Aerospace Services LLC, a wholly owned subsidiary of Abu Dhabi Developmental Holding Company RISC (ADQ), to combine certain assets of ADQ Aviation with ADA. ADQ Aviation proposes to combine its shareholdings in…
Alwaleed Philanthropies signs partners Al Hilal Saudi Club to promote women sports
RIYADH, SAUDI ARABIA: Alwaleed Philanthropies, chaired by Prince Alwaleed Bin Talal Al Saud, has signed a five-year partnership with Al Hilal Saudi Club for Women Sports. In line with Vision 2030, the partnership is committed to promoting women’s participation in sports and contributing to high-level experiences across the spectrum of the industry. The partnership comes…
GFH acquires US Medical Clinics portfolio valued at $400mn
MANAMA, BAHRAIN: GFH Financial Group announced increasing its exposure to the medical office/clinics sector through a second US Medical Clinics portfolio in a transaction valued at c. US$400 million. The income-yielding portfolio is comprised of 11 geographically diversified assets spread across four US states – California, Texas, Maryland and Louisiana. Covering an area exceeding 1…
Shelf Drilling secures $236mn contract in the Arabian Gulf
DUBAI, UAE: Shelf Drilling Ltd. has secured a five-year contract for the recently acquired premium jack-up rig Shelf Drilling Victory for operations in the Arabian Gulf. The contract value for the firm period, including mobilization revenue, is approximately USD 236 million. The contract also includes a two-year option, and the planned start-up of operations is…
International Holding makes capital investment of $200mn in Colombia’s Lulo Bank
ABU DHABI, UAE: International Holding Company (ADX: IHC), through one of its subsidiaries, made a capital investment of AED 734 million (USD 200 million) in Lulo Colombia S.A., the holding company of Lulo Bank S.A. Colombia’s first regulated digital bank, Lulo Bank, is a fast-growing and new player that enters the field of ‘neobanks’ in…
Yahsat acquires minority interest in eSAT Global
ABU DHABI, UAE: Yahsat, the UAE’s flagship satellite solutions provider, announced a minority investment in eSAT Global Inc, an innovative Internet of Things (IoT) connectivity solutions provider that will bring a new disruptive, low-cost, low latency, direct-to-satellite IoT service to the market. The overall IoT market is projected to grow at a CAGR of 22%…
Multiply Group acquires 80% of International Energy Holding
ABU DHABI, UAE: Multiply Group (ADX: Multiply), an Abu Dhabi-based holding company, has acquired 80% of International Energy Holding LLC. Alpha Dhabi Holding PJSC purchased 20% of International Energy Holding shares (a subsidiary of International Holding Company PJSC). International Energy Holding recently acquired a 50% stake in Kalyon Enerji Yatrimlari A.Ş., a market leading clean…