ABU DHABI, UAE: Al Ain University (AAU) and BHM Capital, leading UAE financial services company, inaugurated a virtual trading room at the university, with the aim of refining students’ skills and developing their cognitive abilities in the fields of investment, trading, and financial markets. The creation of the virtual trading room forms part of a…
Category: MENA
Corporate news and announcements from the stock markets of Middle East and North Africa.
GFH offloads US tech offices portfolio
MANAMA: GFH Financial Group announced the successful and early exit from its US Tech Offices Portfolio, which was acquired in 2019. The portfolio comprises a Class A Life Science office asset in Research Triangle Park, North Carolina, the largest scientific research and development park in the country. The asset, which holds a prime position in…
Aramex plans diversification, expansion to remain resilient
ABU DHABI, UAE: Aramex, the Emirati multinational logistics company, plans further diversification and strengthen its global network to be resilient to deal with the challenges, such as supply chain disruptions. Othman Aljeda, Group Chief Executive Officer, Aramex, said: “Over the last few months, we have witnessed an almost complete return to pre-Covid operating environment and…
Qatar First Bank acquires Ten West Corporate Center One in Houston
DOHA: Qatar First Bank announced the acquisition of Ten West Corporate Center One, a 199,000 square foot Class-A, impeccably-maintained and institutionally-owned office building located in Houston’s Energy Corridor. The property is fully leased to Wood Group Mustang Inc, a subsidiary of the British industrial services firm, John Wood Group, which offers engineering, procurement, and construction…
GFH & Preylock acquire $2bn portfolio of Amazon designated warehouses
MANAMA, BAHRAIN: GFH Financial Group announced its successful investment, in partnership with Preylock Holdings, in a portfolio of high quality, income yielding logistics assets leased to Amazon. In a transaction currently valued at more than $2 billion, the portfolio, comprised of 14 mission-critical logistics assets strategically located in 11 states, is fully leased on a…
Bahrain’s Minister of Finance and National Economy to open 2nd Annual Mentorship Forum Middle East
MANAMA: Mentorship Forum Middle East (MFME) 2021 today announced that HE Shaikh Salman bin Khalifa Al-Khalifa, Minister of Finance and National Economy of the Kingdom of Bahrain, will open the Forum’s 2nd edition with a keynote address on this year’s theme “Prioritising Mentorship in a New World”. The event is being held on November 11,…
Yahsat and G42 to collaborate on remote sensing and geospatial analytics
ABU DHABI, UAE: Al Yah Satellite Communications Company, the UAE’s flagship satellite solutions provider, announced that its dedicated government arm, Yahsat Government Solutions (YGS) and G42, the leading UAE-based artificial intelligence and cloud computing company, have signed a Memorandum of Understanding (MoU) to form a new collaboration focused on advancing remote sensing and geospatial capabilities…
Orient Insurance intention of acquiring
DUBAI, UAE: Orient Insurance’s Board of Directors (PJSC) announced that the company will submit an offer to acquire non-owned shares of Orient UNB Takaful (PJSC), sum of 16.09% of the company’s shares, after obtaining the necessary approvals to begin the acquisition process from the regulators. Omar Elamin, CEO of Orient Insurance Group, declared that the…
GFH Financial acquires high-rise in Baltimore for $90 million
MANAMA, BAHRAIN: GFH Financial Group has expanded its US multifamily residential portfolio after acquiring a third asset, a luxury high-rise in Baltimore, Maryland, for an estimated $90 million. The acquisition diversifies GFH’s US assets and comes amid increasing demand for US multifamily residential properties among renters. GFH acquired the 17-story property in Baltimore in a…
Fertiglobe, first free zone company, commences trading on ADX
AMSTERDAM: Fertiglobe has become the first free zone company to list onshore in the UAE, with trading in the shares to commence on the Abu Dhabi Exchange (ADX) on Wednesday. The Initial Public Offering (IPO) was oversubscribed more than 22 times in aggregate, and 32 times for the Qualified Investor tranche (excluding cornerstone investors). OCI…
DP World reports strong volume growth of 11.9% for 9M2021
DUBAI, UAE: DP World Limited handled 58.4 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in 9M2021, with gross container volumes increasing by 11.9% year-on-year on a reported basis and up 11.4% on a like-for-like basis. On a 3Q2021 basis, DP World handled 19.8 million TEU, up 8.1% year-on-year and up…
Edita Food Industries raises price points across flagship Molto range
CAIRO, EGYPT: Edita Food Industries, a leader in the Egyptian packaged snack food market, announced today that it has increased prices across the Molto product range at its baked goods segment. Key Molto products previously priced at EGP 2.0 per pack have been raised to EGP 3.0, while products priced at EGP 3.0 per pack…