AD Ports Group has entered a significant partnership with SEMURG INVEST LLP, the developer of the Sarzha Multifunctional Marine Terminal at Kuryk Port in Kazakhstan. According to the Foundation Agreement signed on January 14, 2025, AD Ports Group holds a 51 percent stake, while Semurg owns 49 percent in the Sarzha Grain Terminal venture. This...
PowerChina is reaffirming its commitment to expanding operations and increasing investments in the renewable energy sector within the Gulf region. Jin Huibin, the Country Representative and Commercial Manager of PowerChina, emphasized that the Middle East, particularly the Gulf countries, offers numerous large-scale projects and significant investment opportunities. His statements were made during the World Future...
Catalyst, the first technology startup accelerator in the region focused on sustainability and clean technology, announced three new direct investments and the launch of its tenth cohort of startups. This announcement was made at the World Future Energy Summit in Abu Dhabi on January 14, 2025. The new investments include AeD energy, Batsand, and Solumar,...
Devsinc, a prominent IT company from Pakistan, has announced its acquisition of Alchemative Group, a UAE-based provider of e-commerce and digital retail solutions. This strategic move marks Devsinc’s entry into the Middle Eastern market, specifically targeting the UAE, which is valued at approximately $7 billion, as reported by Statista. Alchemative Group is known for its...
Halo AI, a company focused on transforming brand and creator collaborations, has successfully closed a seed funding round of US$6 million. The funding round was led by Raed Ventures and Shorooq, and included participation from strategic investors such as former senior executives from Snapchat, leaders from Microsoft and Airbnb, as well as executives from Amazon...
Intelex Vision, a company focused on AI-driven video analytics for real-time surveillance, has successfully raised £5.6 million ($7.0 million) in a Series A funding round. This funding was supported by prominent investors including Acurio Ventures, Adara Ventures, and Inveready. The recent investment comes as Intelex Vision reports an impressive growth, with its revenues increasing 11...
Abu Dhabi’s sovereign wealth fund, ADQ, has announced plans to initiate a takeover offer for the logistics company Aramex. The proposal aims to acquire shares that ADQ does not already own in the courier firm. This move was disclosed in a filing to the stock exchange on Monday as part of ADQ’s strategy to strengthen...
Almunif Pipes Company is preparing to go public, announcing plans to submit IPO paperwork to Saudi Arabia’s Capital Market Authority (CMA) by the second quarter of 2025. The company’s CEO, Faisal Almunif, shared the update, according to Argaam, an Arabic financial news platform. However, specific details about the size of the IPO have not yet...
Aldar Properties has successfully raised $1 billion through its first-ever hybrid capital issuance, marking the largest conventional hybrid issuance in the Middle East. The offering attracted significant interest from both regional and international investors, with total orders exceeding $4.9 billion—an oversubscription of 3.8 times. This groundbreaking move strengthens Aldar’s capital structure by introducing a hybrid...
FAB Sukuk Company, a unit of First Abu Dhabi Bank (FAB), has finalized pricing for its $600 million five-year sukuk, set to be issued on the London Stock Exchange next week. The sukuk, part of a $5 billion trust certificate program, has seen strong interest, with an order book reaching $1.2 billion. The profit rate...