DUBAI, UAE: SHUAA Capital psc announced its intention to launch a new Digital Wealth Platform to serve existing clients as well as the next generation of investors. To steer the company’s innovative and ambitious digital proposition, which will operate as an independent fintech platform, SHUAA has appointed ex-Visa and Google alumnus, Hadi Raad, in the…
Category: MENA
Corporate news and announcements from the stock markets of Middle East and North Africa.
PayTabs Egypt wins “Best E-Payment Solution” at Entrepreneur Middle East’s Leaders in Fintech Awards 2021
CAIRO, EGYPT: PayTabs Egypt, which set up operations in Cairo nearly a year and a half ago, has received the prestigious “Best E-Payment Solution” award at the ‘Leaders in Fintech Awards 2021’ presented by Entrepreneur Middle East. The event turned out to be a phenomenal evening, one which paid tribute to entrepreneurs and corporations shaping…
GFH’S Britus Education acquires British International School of Tunis
MANAMA, BAHRAIN: Britus Education, the fully owned education investment platform of GFH Financial Group, announced the acquisition of The British International School of Tunis (BIST), further expanding the Group’s presence in the Tunisian market, where GFH is already the major investor in Tunis Bay. The transaction gives Britus Education a 70% stake in the thriving…
SHUAA sells all their stakes in Khaleeji Commercial Bank to GFH Financial
DUBAI, UAE: SHUAA Capital has sold its 3.8% stake in Khaleeji Commercial Bank (KHCB) to GFH Financial Group. The sale is expected to contribute positively to SHUAA’s Q2 financials. The sale of Khaleeji Commercial Bank (KHCB) shares represents continued progress in SHUAA’s stated intention to exit its Non-Core Assets. In the recent announcement of SHUAA’s…
Bahrain Bourse joins BAB’s campaign against fraud targeting financial services
MANAMA, BAHRAIBN: Bahrain Bourse has joined the national campaign against fraud launched by Bahrain Association of Banks (BAB). During the campaign, awareness messages under the hashtag (#Be_Alert) will be communicated through diverse digital channels directed at all segments of financial services users in the Kingdom of Bahrain to help combat fraudulent activities and curb its…
MEPS partners Zwipe to bring next generation contactless payment cards in MENA
AMMAN, JORDAN: Middle East Payment Services (MEPS) is partnering with biometric fintech Zwipe to bring next generation contactless payment cards in the Middle East and North Africa (MENA) region, a news release said. Middle East Payment Services (MEPS) is a principal issuer and acquirer of payment cards in Jordan, Iraq, Palestine, and provides card issuance…
ENBD REIT to dispose assets that account over 5% of its net asset value
DUBAI, UAE: ENBD REIT (CEIC) PLC, the Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited, is considering the strategic disposal of a real estate asset that accounts for more than 5% of its Net Asset Value (NAV), a news release said. The Board of Directors has received and accepted a…
Moody’s re-affirms Qatar Islamic Bank’s A1 rating with stable outlook
DOHA, QATAR: Moody’s Investors Service has reconfirmed the long-term deposit rating of Qatar Islamic Bank (QIB) at A1, with a stable outlook, a news release said. Moody’s said in its Credit Opinion Report that QIB’s assigned rating reflects the bank’s strong asset quality, strong and stable profitability, adequate capital and liquidity buffers, supported by its…
13,000 smart LED streetlight implementation across Muscat in Oman
LEUVEN, BELGIUM: More than 13,000 smart LED lights will be implemented in the city of Muscat that are controlled by multiple IoT based smart controllers. 370 Option CloudGate IoT gateways are being used to acquire real-time energy consumption of these LED lamps and any alarms. Once implemented, the installation base of more than 20,000 smart…
Abu Dhabi Ship Building to build patrol vessels for UAE Navy
ABU DHABI: Abu Dhabi Ship Building PJSC signed a dual currency contract to build four Falaj 3-class Offshore Patrol Vessels for the UAE Ministry of Defence and the UAE Navy. There is the opportunity for a furthercontract under the Program for integrated logistics support (ILS) and spare parts supply which could take the total program…
Noor Al Sulaiti becomes the first female CEO in one of Ooredoo Group
DOHA: Ooredoo announced the appointment of Noor Al Sulaiti as CEO of Ooredoo Oman – the first female CEO in one of Ooredoo Group’s key markets – and Bassam Yousef Al Ibrahim as CEO of Ooredoo Algeria, effective 20 May 2021. Noor Al Sulaiti has been with Ooredoo since 2004, most recently as the CEO…
Abu Dhabi National Energy Company to host World Utilities Congress
ABU DHABI: Abu Dhabi National Energy Company PJSC (TAQA) will be the official host of the World Utilities Congress, a new global exhibition and conference addressing the future of low carbon power and water supplies. Organised by dmg events, the Congress will be an in-person event taking place in Abu Dhabi in May 2022. It…