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…

NNR March 22, 2022

MENA

SHUAA Capital acquires majority stake in Middle East fintech, Souqalmal

Ambareen Musa, Founder and CEO of Souqalmal says, “This acquisition gives Souqalmal what it needs to now bring the company to the next level.” UNITED ARAB EMIRATES: SHUAA Capital (DFM:…

Chenos Kahn March 21, 2022

MENA

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…

NNR March 21, 2022

MENA

Al Salam Bank’s bid to acquire Ithmaar’s consumer banking division approved

MANAMA, BAHRAIN: Al Salam Bank announced that the acquisition of Ithmaar Bank’s consumer banking division and a number of other assets in a transaction worth US$2.2 billion received the shareholders’…

NNR March 21, 2022

MENA

Oman Insurance gets nod to begin underwriting through Lloyd’s Syndicate in a box

DUBAI, UAE: Oman Insurance Company and Asta, the leading third-party managing agent at Lloyd’s, announced that Oman Insurance’s syndicate 2880 has received Lloyd’s approval to commence underwriting. Syndicate 2880 was…

NNR March 17, 2022

MENA

Iraq’s Al Mansour Bank to pilot Biometric Payment Cards with Zwipe and areeba

BEIRUT, LEBANON: Zwipe, Al Mansour Bank and areeba have confirmed that they will pilot Biometric Payment Cards built on the Zwipe Pay platform in Iraq. This will be one of…

NNR March 17, 2022

MENA

Dubai Electricity and Water Authority to float on Dubai Financial Market offering 3.25bn shares

DUBAI, UAE: Dubai Electricity and Water Authority (DEWA) has announced its intention to float on the Dubai Financial Market (DFM) offering 3.25 billion shares, representing 6.5% of DEWA's issued share capital. All…

Chenos Kahn March 15, 2022

MENA

RAK Ceramics signs deal to acquire Germany based KLUDI Group

ABU DHABI, UAE: RAK Ceramics announced the signing of a Share Purchase Agreement for the acquisition of 100% stake in KLUDI Group. KLUDI Group includes KLUDI GmbH & Co KG,…

NNR March 15, 2022

MENA

Oman Insurance reports highest net profit in last 7 years

DUBAI, UAE: Oman Insurance released its 2021 Integrated Report yesterday which includes full-year financial results along with Environmental, Social and Corporate Governance reports. The report re-emphasizes the strong financial results…

NNR March 15, 2022

MENA

Oman Insurance to sell Turkish operations to VHV Reasürans

DUBAI, UAE: Oman Insurance Company has entered into an agreement with VHV Reasürans, Istanbul/Turkey, a company of VHV Group, Hannover/Germany, to fully sell its insurance operations in Turkey. Part of…

NNR March 10, 2022

MENA

TAQA and Dubal to acquire EGA’s electricity generation assets in UAE

UNITED ARAB EMIRATES: Emirates Global Aluminium (EGA), Abu Dhabi National Energy Company PJSC (TAQA), Dubal Holding and Emirates Water and Electricity Company (EWEC) announced a major initiative that would unlock…

NNR March 9, 2022

MENA

Al Salam Bank wins J.P. Morgan Elite Quality Recognition Award

MANAMA, BAHRAIN: Al Salam Bank recently received the reputable J.P Morgan Elite Quality Recognition Award for the second year in a row, recognizing the Bank for its unparalleled performance and…

NNR March 9, 2022