Chile’s Codelco, the world’s largest copper producer, is in discussions with Saudi Arabia about potential investments in copper projects, according to an interview given by Codelco Chairman Maximo Pacheco to Reuters. The talks come as both sides look to create value through new collaborations. Codelco has been exploring partnerships with Saudi Arabia’s mining sector, including...
Abu Dhabi’s Mubadala Investment Company, through its unit Kelix Bio, has finalized the acquisition of DiabTec, a subsidiary of Julphar. This move marks a significant step in strengthening Mubadala’s biologicals portfolio and advancing biomanufacturing in the MENA region. DiabTec’s advanced facility, equipped with 20,000-litre drug substance reactors and a dedicated cartridge fill-finish facility for drug...
The OPEC Fund for International Development is making a significant investment in renewable energy by co-financing Africa’s largest onshore wind power project. The fund is contributing US$30 million towards the construction of two wind farms, each with a capacity of 550 MW, located in Egypt’s Gulf of Suez region. Together, these facilities will have a...
Global private equity firm KKR has joined forces with Dubai-based Gulf Data Hub (GDH) to invest over $5 billion in expanding data centre capacity across the Gulf region. This collaboration comes as the demand for digital infrastructure rises, driven by the growing adoption of cloud services and artificial intelligence in the region. As The National...
Venture asset manager Sigma Capital has launched the Sigma Capital Fund I, a $100 million initiative aimed at reinforcing the UAE’s position as a leader in blockchain innovation and institutional investment. This fund is designed to stimulate advancements in Web3, specifically targeting early-stage ventures in the region and beyond. The scope of the Fund includes...
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...