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Category: Business
Dubai International Chamber has inaugurated its 36th international representative office in Bangkok, Thailand. This new office is expected to play a crucial role in attracting businesses and investments from Thailand to Dubai, thereby strengthening trade ties between the two regions. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, emphasized that the Bangkok office...
The UAE and Serbia are set to enhance their economic relations with a target of a $350 million trade partnership following the launch of the Comprehensive Economic Partnership Agreement (CEPA). This agreement marks a significant milestone in establishing stronger economic ties between the two nations. The CEPA has officially come into effect, aiming to foster...
Ras Al Khaimah Economic Zone (RAKEZ) has successfully completed a multi-city business mission across China, enhancing its position in promoting UAE-China trade and investment relations. The delegation participated in key events, including the UAE-China (Sichuan) Economic & Trade Cooperation Promotion Conference, held by the Embassy of the UAE in Beijing, and the Invest UAE Roadshow...
Engie-backed National Central Cooling, commonly known as Tabreed, along with private equity firm CVC, is currently in exclusive discussions to acquire the district cooling business of Abu Dhabi-based Multiply Group. This deal is anticipated to value the unit at over $1 billion, as reported by two sources familiar with the negotiations. According to one of...
Saudi Arabia is working to boost the number of potential public offerings as part of its strategy to diversify its economy away from oil and enhance its financial sector. The country is focusing on attracting foreign investors through these efforts. Mohammed Al-Rumaih, the chief executive officer of the Saudi stock exchange, stated in an interview...
Bloomspoon, a startup based in Dubai that focuses on eco-friendly consumer goods, has achieved a significant milestone by securing an AED 800 000 investment offer on Season 3 of Shark Tank Dubai. The investment, which represents 49% equity in the company, was made by Toufic Kreidieh, the Executive Chairman and Co-Founder of Brands for Less...
The Philippines is looking to secure more investments from the United Arab Emirates (UAE) sovereign wealth funds through the pending Comprehensive Economic Partnership Agreement (CEPA). An official from the Department of Trade and Industry stated that the CEPA will create a framework for these investments, which is expected to be signed next month. Trade Undersecretary...
Dubai Chambers has organized the Dubai-Madagascar Business Forum, welcoming a delegation of 60 companies from Madagascar to discuss investment opportunities and potential business partnerships. The forum took place at the Dubai Chambers headquarters and emphasized the importance of enhancing economic ties between Dubai and Madagascar. Attending the event was Andry Rajoelina, the President of the...
Bahrain’s Investcorp, one of the Gulf’s largest investment firms, has announced the sale of its stake in the Indian budget retailer Citykart. This marks Investcorp’s fifth exit from its India-focused Consumer Growth Portfolio and the sixth liquidity event for the company’s Indian investments in the past 32 months. The stake in Citykart was acquired by...
Abu Dhabi’s TAQA (TAQA.AD) is actively seeking to acquire companies in the United States and other locations, according to its chief executive, Jasim Husain Thabet. The state-owned utility is focused on international expansion and is striving to meet its ambitious growth targets. “The U.S. is a key market for us,” Thabet stated during an interview...