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Category: Business
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....
Uni-Fuels (UFG) has announced the establishment of a wholly-owned subsidiary in the United Arab Emirates, along with the opening of a new office in Dubai. The subsidiary, named Uni-Fuels Middle East FZCO, also referred to as Uni-Fuels Dubai, aims to bolster the company’s ability to provide customized marine fuel solutions and improved customer support, addressing...
The UAE has achieved the remarkable feat of being ranked first globally in entrepreneurship for the fourth consecutive year, according to the latest Global Entrepreneurship Monitor (GEM) report. This year, the country topped the list as the best destination for entrepreneurship and small and medium-sized enterprises (SMEs) among 56 economies evaluated. In this report, the...
The United Arab Emirates has claimed the top spot globally for the fourth consecutive year in the Global Entrepreneurship Monitor (GEM) report for 2024/2025. The report highlights the UAE as the best environment for entrepreneurship and small to medium enterprises among 56 economies included this year. The UAE achieved first place among high-income countries in...
The European Commission has announced that its antitrust regulators will make a decision by May 12 on whether to approve or reject Adnoc’s acquisition of the German chemical company Covestro. This deal, valued at €15.9 billion (approximately $17.2 billion), represents Adnoc’s largest acquisition to date, which was agreed upon in October of last year as...
The alternative investment sector has experienced a significant transformation with the official launch of SWI Group, resulting from a strategic merger between Icona Capital and Stoneweg. The newly formed entity boasts combined assets under management exceeding US $11 billion, establishing itself as a key player in various investment categories. French billionaire Max-Hervé George, who played...
Saudi Arabia is set to introduce significant updates to its Law of Commercial Register and Law of Trade Names effective April 3, 2025. These new laws, approved by the Ministry of Commerce in September 2024, aim to streamline the process of starting and operating a business within the Kingdom, while also alleviating financial burdens for...
The Comprehensive Economic Partnership Agreements (Cepas) between the UAE and Costa Rica and Mauritius officially took effect on Wednesday, marking a significant step in the Emirates’ efforts to enhance its global trade and investment activities. According to the UAE’s Ministry of Economy, these new agreements are the seventh and eighth to be implemented under the...
Mitsubishi Power, a division of Mitsubishi Heavy Industries (MHI), has secured two significant supply orders for the Rumah-1 and Al-Nairyah-1 Independent Power Plant (IPP) projects in Saudi Arabia. These orders are in collaboration with Doosan Enerbility Company, under which Mitsubishi Power will provide six advanced M501JAC gas turbines, along with generators and auxiliary equipment. This...