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Category: Business
Energy Capital Group (ECG), a Saudi investment firm focused on industrial services and global technologies, has completed the full acquisition of MT Enterprises through its ECG2.0-Fund2. This acquisition bolsters ECG’s industrial services platform and aligns with its commitment to local content development, technology transfer, and sustainable job creation, supporting the goals of Saudi Vision 2030...
The Ras Al Khaimah Economic Zone (RAKEZ) has recently concluded a successful roadshow in Brazil aimed at promoting business collaboration. This initiative was designed to strengthen ties and attract potential investors from Brazil to the UAE’s growing economic landscape. During the roadshow, RAKEZ representatives highlighted the advantages of establishing businesses within the economic zone, such...
DP World has announced a significant increase in its revenue, which grew by 9.7 percent to reach $20 billion (AED 73.5 billion) for the year ending December 31, 2024. The company’s adjusted EBITDA also rose by 6.7 percent, totaling $5.5 billion (AED 20.2 billion). This resulted in an adjusted EBITDA margin of 27.2 percent. The...
e& UAE, the flagship arm of e&, in partnership with Kindred.co, a media commerce company active in over 180 markets, has unveiled an innovative new programme called “Save & Grow.” This initiative allows users to save money while simultaneously contributing to environmental sustainability efforts. Users of e& UAE can activate the “Save & Grow” programme...
Niantic Labs, the creator of the popular augmented reality game “Pokemon Go,” has announced that it will sell its video-game division to Saudi Arabia-owned Scopely for $3.5 billion. This move comes as Niantic shifts its focus towards geospatial technology, following challenges in replicating the success of its 2016 hit game. The sale, which was revealed...
Lynk & Co has announced a partnership with Galadari Brothers to launch its innovative vehicle lineup in the UAE market. This collaboration positions Galadari Motors as the official distributor of Lynk & Co vehicles throughout the region, enhancing their existing range of mobility offerings. Lynk & Co, a premium automotive brand that is part of...
Singapore’s state investment company Temasek has finalized a deal to acquire a nearly 10% stake in India’s Haldiram’s snacks business for approximately $1 billion. This significant investment marks Temasek’s continued interest in India’s consumer sector and was confirmed by two sources familiar with the transaction. The agreement was reached following several months of negotiations, and...
Mastercard has announced a new partnership with CredibleX that will integrate Mastercard’s Small Business Credit Analytics (“SBCA”) into CredibleX’s financing platform. This collaboration marks the first application of this innovative product in the region, aimed at providing enhanced data-driven insights based on anonymous and aggregated transaction data. The initiative is designed to empower small and...
Kuwait-listed Agility Public Warehousing Company has successfully refinanced a portion of its existing credit facilities, raising the amount from $233 million to $280 million. The company announced on Monday that this refinancing comes with a renewed tenure of five years. The move to refinance is part of Agility’s strategy to support growth and manage its...
Dubai Airports, the operator of the world’s leading international airport, has been awarded the 2025 Gallup Exceptional Workplace Award (GEWA) for its commitment to employee engagement. This prestigious award recognizes organizations that cultivate highly engaged workplace cultures globally. In an evolving work environment, Dubai Airports has continuously explored innovative methods to engage and develop its...