DUBAI, UAE: Gulf Navigation Holding (GulfNav), the only maritime and shipping company listed on the Dubai Financial Market, signed an agreement with one of the leading Natural Gas Companies in the Middle East. The 3-month agreement aims to provide complete logistic, transportation and marine services for one of the gas field projects located in Sharjah….
Category: MENA
Corporate news and announcements from the stock markets of Middle East and North Africa.
Zwipe is selected by National Bank of Iraq to pilot biometric payment cards
BAGHDAD, IRAQ: Zwipe and the National Bank of Iraq are pleased to confirm that they will pilot Biometric Payment Cards built on the Zwipe Pay platform, making it one of the first pilots of the next generation contactless payment cards in Iraq. The National Bank of Iraq (NBI) is one of the largest private banks…
SHUAA Capital acquires Allianz Marine and Logistics Services Holding
UNITED ARAB EMIRATES: SHUAA Capital psc (DFM: SHUAA), the leading asset management and investment banking platform in the region, announced the acquisition of Allianz Marine and Logistics Services Holding Limited by its managed funds. The transaction is one of the largest M&A deal in the maritime offshore sector in the Middle East in recent years…
Nebras Power to build and operate Combined Cycle Gas Thermal power plant in Uzbekistan
DOHA, QATAR: Nebras Power Investment Management B.V. (NPIM), a wholly owned subsidiary of Nebras Power QPSC, has successfully entered into a long-term Power Purchase Agreement (PPA) in Uzbekistan to construct and operate the Syrdarya II Combined Cycle Gas Thermal (CCGT) power plant in the central region of the country. The power purchase agreement was formalized…
Infracorp lists $900 million green sukuk on London Exchange
MANAMA, BAHRAIN: Infracorp B.S.C., the infrastructure and sustainability arm of GFH, announced the issuance of a US$900 million Sukuk, the first-ever green sukuk issued by a Bahraini entity and has been listed on London Stock Exchange. This landmark transaction reflects Infracorp’s strategy to accelerate growth of sustainable infrastructure development across MENA and South Asia regions…
Al Salam Bank launches revamped Danat Savings Scheme for 2022
MANAMA, BAHRAIN: Al Salam Bank has announced the launch of its new and improved Danat Savings Scheme for 2022, held under the theme ‘gold-filled year’, where cash prizes have been replaced with bars of gold. The revamped Danat Savings Scheme, which will start from April 2022 and end in March 2023, will give clients the…
Qatar Stock Exchange and Astana International Exchange agree on cooperation
DOHA, QATAR: Astana International Exchange (AIX) and Qatar Stock Exchange (QSE) signed a Memorandum of Understanding (MOU) and agreed to establish cooperation in mutually beneficial areas. The MOU was signed by QSE’s Marketing and Communications Director Mr. Hussein Mohammad Al-Abdullah, representing QSE’s CEO Mr. Tamim Al-Kawari, and Mr. Renat Bekturov, CEO of AIX in the…
Capital Intelligence reaffirms QIB’s long term rating at A+ with stable outlook
DOHA, QATAR: Qatar Islamic Bank (QIB) has reconfirmed its ongoing positive rating with Capital Intelligence (CI) Ratings today announcing the Bank’s Long-Term and Short-Term Ratings of ‘A+’, and ‘A1’ respectively, with a stable outlook. Capital Intelligence’s Credit Rating Report reaffirmed QIB’s strong franchise and market position, with 49% of total assets of listed Islamic banks…
SHUAA Capital launches $250 million regional venture debt fund
UNITED ARAB EMIRATES: SHUAA Capital psc (DFM: SHUAA) has launched SHUAA Venture Partners, a USD 250 million Shari’ah fund, focused on venture debt investments. Commenting on the launch of the fund, Natasha Hannoun, Head of Debt at SHUAA Capital said: “SHUAA Venture Partners will provide alternative capital solutions to high growth companies across the GCC….
DP World consolidates Eurofos terminal in Fos-sur-Mer, exits Le Havre
DUBAI, UAE: DP World Limited and Terminal Link SA, a joint venture 51% owned by CMA CGM and 49% owned by China Merchants Port, have today reached a conditional agreement to restructure Portsynergy SAS (Port Synergy), a 50:50 joint venture company. Port Synergy is the holding company for subsidiary companies, Générale de Manutention Portuaire SA…
SHUAA Capital acquires majority stake in Middle East fintech, Souqalmal
UNITED ARAB EMIRATES: SHUAA Capital (DFM: SHUAA), the leading asset management and investment banking platform in the region, has completed a strategic investment in UAE-based fintech, Souqalmal. The investment will provide growth capital, allowing Souqalmal to execute on an ambitious growth plan over the next 24 months. Following the investment, Ambareen Musa, Founder and CEO…
OIC acquires life insurance portfolio in UAE from Generali
DUBAI, UAE: Oman Insurance Company (OIC) has acquired UAE Life insurance portfolio from Assicurazioni Generali S.p.A. The agreement, signed on February 23rd, 2022, reflects the long-term partnership between the two players and is in line with Generali’s overall strategy to rationalize its business model in UAE by strengthening its ecosystem of partnership proposition. The transfer…