Shorooq led the way in getting $12.5 million in loan financing for The Box, a self-storage company based in the UAE. The Box is a company that was started by Wadih Haddad in 2007 and offers moving, personal storage, and record management services. With this new money, The Box can grow and build new flagship...
Niantic, the U.S. company that made Pokémon Go, is allegedly in talks to sell its video game business to a division of Savvy Games Group, which is a branch of Saudi Arabia’s Public Investment Fund (PIF). The planned $3.5 billion deal could be completed in the next few weeks, according to Bloomberg report. The deal...
Saudi Arabia’s integrated utility company, ACWA Power, has signed a share purchase agreement (SPA) with the regional subsidiary of French utility developer ENGIE to acquire assets valued at $693 million. This acquisition marks ACWA Power’s entry into the Kuwaiti market. The deal includes significant operating capacities, comprising 4.61 gigawatts (GW) of gas-fired power generation and...
The State of Qatar has publicly commited to invest $10 billion in India. This is meant to improve relations between the two countries. During his two-day state visit to India, Sheikh Tamim bin Hamad Al-Thani, the Emir of Qatar, promised to make this investment. During the trip, the Emir met with Narendra Modi, the Prime...
Dubai’s hedge fund sector has experienced significant growth, increasing the number of operating hedge funds to 75. This surge comes as the emirate welcomes new multi-billion dollar firms, including Tudor Investment Corp and Walleye Capital. In addition to these prominent firms, Dymon Asia and JJJ Capital also established offices in Dubai last year, further enhancing...
Abu Dhabi-listed Investcorp Capital has significantly increased its real estate asset base in the United States by acquiring four new student housing properties for a total transaction value exceeding $300 million. This move marks a strategic expansion into the US housing market. According to Zawya, the newly acquired assets are located in Texas and Oklahoma,...
Maestral, a shipbuilding joint venture based in Abu Dhabi between Fincantieri and EDGE, has secured a significant contract for an ‘In-Service Support Strategic Partnership Project’ aimed at enhancing the entire fleet of the United Arab Emirates (UAE) Navy. This contract is valued at over $520 million and will be implemented over a five-year period. The...
Qme, a B2B SaaS startup based in Egypt, has successfully raised $3 million in a seed funding round led by AHOY, a multisector technology company. AHOY was joined in this investment by a group of angel investors from the Gulf Cooperation Council (GCC). The funding aims to advance Qme’s AI-driven platform, which addresses inefficiencies in...
Abu Dhabi’s Sovereign Wealth Fund (ADSWF) has made a noteworthy investment of $436 million in Bitcoin exchange-traded funds (ETFs) during the first quarter of 2025. Such large acquisitions by sovereign funds may influence market dynamics and investor sentiment, as they signal increasing confidence in Bitcoin and could drive further institutional investments. This investment, recorded on...
Cheyne Capital’s hedge fund for Europe, the Middle East, and Africa is significantly increasing its investment in the United Arab Emirates, viewing it as the most resilient equity market amid uncertainties linked to US President Donald Trump’s policies. Fund manager Carl Tohme highlighted that the UAE’s currency peg to the dollar plays a crucial role...