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Category: Business
Abu Dhabi National Oil Company (Adnoc) is reportedly considering acquiring energy assets from the Mubadala Investment Company, according to sources familiar with the situation. Negotiations initially began late last year, but discussions have since stalled due to disagreements over asset valuation. The potential deal is estimated to be worth around $10 billion. Sources indicated that...
RIZ & MONA Consultancy, a prominent provider of corporate services, has officially announced its acquisition of IBGME, which is recognized for its expertise in corporate structuring and UAE company formation. This strategic acquisition is set to strengthen RIZ & MONA’s position within the business setup industry, enhancing its offerings in UAE company formation, offshore incorporations,...
Gulf Navigation Holding PJSC (“GULFNAV”), a maritime and shipping company listed on the Dubai Financial Market, announced that its shareholders have approved the strategic acquisition of assets and companies owned by Brooge Energy Limited (“BEL”) for AED 3.2 billion. This decision was made during the General Assembly Meeting held on March 13, 2025. The acquisition...
MIDBANK has entered into a long-term partnership agreement with Visa, which is recognized globally as a leader in payment technology and digital solutions. This announcement was made in an emailed press release and marks a significant step for MIDBANK in expanding its digital payment offerings. The collaboration aims to provide customers with the latest digital...
Ignite Energy Access, a prominent provider of Distributed Renewable Energy (DRE) solutions in Africa, has announced plans to establish its global headquarters in Abu Dhabi, following a strategic agreement with the Abu Dhabi Investment Office (ADIO). This collaboration aims to enhance job creation and support Ignite’s mission to connect 100 million people in Africa with...
The Abu Dhabi Fund for Development and Egyptian government partners have launched a project to establish a five-star hotel in Egypt, with investments totaling 440 million dirhams, equivalent to approximately $120 million. This announcement was made during a project launch event in Cairo, accompanied by a press release. This initiative reflects the expanding investments of...
The International Olympic Committee (IOC) has signed a significant agreement worth three billion dollars with NBC Universal. This deal grants NBC the broadcasting rights for the Olympic Games in the United States until 2036. According to the IOC, this contract extends the current agreement with NBC by four years and represents a substantial contribution to...
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the First Deputy Ruler of Dubai and the Deputy Prime Minister and Minister of Finance of the UAE, recently met with Michael Miebach, the CEO of Mastercard. The meeting focused on strengthening partnerships aimed at enhancing the digital economy and payment solutions in the UAE....
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...