In a recent development, Canada has communicated to the United Arab Emirates that it is currently unprepared to initiate its proposed C$70 billion investment. This announcement underscores a significant setback for financial ambitions outlined by Canadian finance executive Mark Carney, who had been advocating for the goal of doubling trade with countries beyond the United...
Global investors are showcasing renewed confidence in the Gulf region, even amidst ongoing regional tensions. Recent studies and analyses from banks indicate a robust economic landscape characterized by resilient growth, increasing trade activities, and strong economic momentum across the Gulf Cooperation Council (GCC) countries. This optimism is reflected in a surge in equity flows, suggesting...
Global master developer Arada has introduced Arada Capital, a new asset management platform aimed at capitalizing on the burgeoning real estate investment landscape. With a target of amassing $5 billion in assets, the initiative will focus on creating and managing high-quality real estate investment opportunities throughout the Middle East and selected international markets, signaling a...
– Anniversary celebrations highlight the Group’s 20-year journey of entrepreneurship, innovation, and strategic expansion across multiple industries. Dubai, United Arab Emirates – June 16, 2026: Trus Holding Group, a dynamic and rapidly growing multinational conglomerate, has inaugurated its new corporate office at Garhoud Business Center in Dubai. The state-of-the-art facility marks a significant milestone in...
As the United Arab Emirates (UAE) enhances its reputation as a global hub for financial innovation, SC Ventures, the innovation and venture capital division of Standard Chartered Bank, has announced the opening of a new office in Abu Dhabi’s Hub71 at the Abu Dhabi Global Market. Gautam Jain, a seasoned fintech strategist, highlighted the firm’s...
Abu Dhabi’s Mubadala Investment Company has announced an agreement to acquire a 30 percent stake in Loscam International, a Hong Kong-based pallet manufacturer. Although the sovereign wealth fund did not disclose the transaction’s value, Hong Kong-listed Sinotrans has reported it to be worth $567 million. In a market filing, Sinotrans explained that the deal involves...
Saudi Arabia’s Public Investment Fund (PIF) has raised its total assets to SR4.32 trillion ($1.15 trillion) by the end of 2024, marking an 18 percent increase from the previous year. This information was disclosed in a report filed with the London Stock Exchange. The sovereign wealth fund reported gross revenues of SR413 billion for 2024,...
PIMCO, a global leader in active fixed income, has announced a new partnership with Aditum Investment Management Limited, an independent asset management company located in the Dubai International Financial Centre (DIFC). This collaboration will enable the availability of two of PIMCO’s Income investment strategies to wealth investors in the United Arab Emirates (UAE) through Aditum...
Egypt-based co-living platform Roomz.rent has successfully raised an undisclosed pre-seed funding round from Qora71, a UAE-based investor syndicate, along with several regional angel investors. The capital will be utilized to enhance the startup’s shared rental offerings across the MENA region, with an initial focus on expanding its presence in Egypt. Founded in Cairo in 2024...
Foodics, a software company based in Riyadh, has successfully raised $8 million through its seed and Series A funding rounds. The funding will support the company’s growth as it aims to enhance its services in the restaurant management sector. Founded by Ahmad AlZaini and Mosab AlOthmani, Foodics currently employs 150 people. The company focuses on...