Absa Group Ltd., South Africa’s third-largest bank by assets, is set to open a representative office in Dubai next year. This move aims to capitalize on the increasing trade and investment between the Middle East and Africa. Yasmin Masithela, the chief executive officer of Absa Group Ltd.’s corporate and investment banking unit, announced, “We’re setting...
The alternative investment sector has experienced a significant transformation with the official launch of SWI Group, resulting from a strategic merger between Icona Capital and Stoneweg. The newly formed entity boasts combined assets under management exceeding US $11 billion, establishing itself as a key player in various investment categories. French billionaire Max-Hervé George, who played...
Paul Hastings LLP is establishing a new office in Abu Dhabi to take advantage of the city’s multibillion-dollar investments in sectors like artificial intelligence, energy, and infrastructure. This move aims to position the law firm at the forefront of the evolving market, alongside other top legal firms enhancing their presence in the Gulf region. The...
Abu Dhabi-based International Holding Company (IHC) is set to acquire a stake in Haldiram Snacks, a leading Indian snack food manufacturer valued at $10 billion. This investment comes alongside New York-based Alpha Wave Global, marking a significant moment for Haldiram as it aims for international growth. The announcement follows Singapore’s Temasek, which recently acquired a...
Cerebras Systems has successfully cleared a U.S. government review concerning its connections with G42, an Abu Dhabi-based AI developer. This review was conducted by the Committee on Foreign Investment in the United States (CFIUS) and is expected to facilitate the California-based company’s long-anticipated initial public offering (IPO). The CFIUS probe specifically examined the planned $335...
EY-Parthenon, the strategy consultancy unit of EY, is set to make a significant $250 million investment in its AI-powered Edge platforms, collaborating with ecosystem partners such as Microsoft and vendors including OpenAI. This investment aims to enhance the capabilities of platforms like Competitive Edge, Diligence Edge, and Capital Edge, which provide private equity and corporate...
ADQ, a prominent sovereign investor focused on critical infrastructure and global supply chains, has successfully acquired a 63.26% stake in Aramex. This acquisition marks a significant step in ADQ’s strategy to expand its investment portfolio in the logistics sector. In a stock market disclosure, Mansour AlMulla, Deputy Group Chief Executive Officer of ADQ, indicated that...
The United Arab Emirates has emerged as a global leader in cryptocurrency adoption, showcasing a remarkable 41% year-on-year increase in crypto app downloads, which totaled 15 million in 2024. In a striking development, the nation recorded 3.55 million installations of crypto applications in January 2025 alone, highlighting a strong and growing interest in digital assets....
Abu Dhabi’s Masdar, also known as the Abu Dhabi Future Energy Company, is contemplating an initial public offering (IPO) in 2026. This move is seen as a significant step towards promoting cleaner energy sources not only in the Gulf, the world’s largest oil-producing region, but also in Europe. The proposed IPO aims to finance Masdar’s...
Finsmeira has announced a significant investment of 859 million dirhams to establish a series of retail jewelry stores and advanced manufacturing units in the UAE and India. This initiative is set to unfold over the next two years and represents a substantial expansion for the company, particularly in the UAE. Finsmeira plans to open main...