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Category: Business
Expleo Solutions Limited has announced the closure of its wholly owned subsidiary, Expleo Solutions FZE, located in Sharjah, UAE. This decision is a response to operational challenges faced in reaching customers across the Gulf region. The closure took effect on March 24, 2025, and it accounted for 3% of the company’s revenue and 2% of...
Sandstone Media, a prominent strategic communications agency based in Dubai, has announced a new partnership with Techbot Information Technology LLC. Techbot is recognized as a leading Odoo implementation partner specializing in business automation and digital transformation. This collaboration aims to enhance Techbot’s brand positioning, media engagement, and industry visibility within the UAE market. Through this...
EDGE Group, a global technology and defense leader, has signed a memorandum of understanding with Emgepron, a state-owned project management company in Brazil. This agreement was formalized during the International Defense and Security Exhibition 2025 held in Rio de Janeiro. The memorandum will facilitate the exchange of technical information aimed at developing future weapon systems,...
Abu Dhabi-based investment vehicle CYVN Holdings and Bahrain’s Mumtalakat Holding Company, the sovereign wealth fund of Bahrain, have announced the completion of their acquisition of McLaren Automotive, along with a non-controlling stake in McLaren Racing. This announcement follows the fulfillment of customary closing conditions and the receipt of necessary regulatory approvals to finalize the deal....
Turkey’s exports to the Gulf Cooperation Council (GCC) region saw a notable increase in February, primarily due to a substantial rise in shipments to the United Arab Emirates (UAE). Exports to the UAE surged by 81 percent year-on-year, reaching nearly $600 million. This growth has pushed Turkish shipments to the Emirates in 2025 to approximately...
Solidarity Group Holding, a Shariah-compliant insurer, has successfully arranged a Murabaha financing agreement worth BHD 58 million, equivalent to $153 million, with the Bank of Bahrain and Kuwait (BBK). This funding will facilitate Solidarity’s acquisition of Bahrain National Insurance (BNI), which is a subsidiary of Bahrain National Holding. Earlier this year, Solidarity Bahrain, a unit...
Sky Gold and Diamonds has received approval from its board to establish a wholly owned subsidiary in Dubai, as part of its strategy to enhance export growth. As a leading Indian jewelry manufacturer, the company specializes in lightweight gold and diamond-studded pieces and is keen to tap into the strong demand for high-quality jewelry in...
Absa Group, recognized as South Africa’s third-largest lender, is set to enter the UAE market in 2026. The decision comes as the bank aims to capitalize on the growing investment and business interests between the Middle East and Africa. The bank plans to establish an office in Dubai during the first quarter of 2026, pending...
Emirates Telecommunications Group Company (e&) has successfully acquired a 100% stake in Serbia Broadband (SBB) for €825 million, equivalent to approximately $891 million. This acquisition was confirmed by e& on Wednesday and is viewed as a significant step in the company’s strategy to expand its presence in Central Eastern Europe. According to Zawya, the acquisition...
AD Ports Group (ADPORTS:ADX), a prominent global player in trade, transport, industry, and logistics, has released its 2024 Annual Report, showcasing significant growth in revenue and profit. The report indicates that the Group achieved record revenue of AED 17.29 billion and EBITDA of AED 4.51 billion, reflecting increases of 48% and 69% respectively from 2023....