Khazna Data Centers has announced the addition of MGX and Silver Lake as new minority shareholders, further strengthening its position in the data center industry. This transition comes as e& exits its investment in Khazna while continuing to act as a key business partner. e& has been instrumental in Khazna’s success and will maintain its...
Vinsmera Group, a global jewellery enterprise led by the Kambrath brothers—Dinesh Kambrath, Anil Kambrath, Manoj Kambrath, and Krishnan Kambrath—has announced a significant investment of ₹2,000 crore (Rs20 billion) over the next two years. This funding will be used to establish a premium jewellery retail chain and advanced manufacturing units in both the UAE and India....
The Jebel Ali Free Zone Authority (Jafza) has announced an investment of 90 million dirhams aimed at developing the second phase of its logistics complex. This expansion will add over 360 000 square feet of space to the existing facilities, enhancing Jafza’s capability to support growing business demands. Jafza’s expansion reflects its commitment to bolstering...
UAE technology investment company MGX, alongside US private equity firm Silver Lake, has secured a minority stake in Dubai-based Khazna Data Centers. This investment marks a significant move in the data center industry, aimed at enhancing Khazna’s growth and technological capabilities. Following this transaction, UAE telecommunications company e&—previously known as Etisalat—has sold its 40 percent...
Lumi AI, an artificial intelligence startup located in the UAE, has successfully raised $3.7 million in a seed funding round led by AgFunder. Other notable investors in this round include Forum Ventures, Abu Dhabi’s sovereign wealth fund ADQ, the Qora71 syndicate, and several angel investors. This recent funding round is a significant milestone for Lumi...
NKN Media, a prominent integrated media company, has successfully raised Dh35 million and is planning to secure an additional Dh50 million to enhance its global expansion and intellectual property development. The company is celebrating five years in Dubai and has established itself as a significant player in the region’s media and events sectors. Following the...
The Sharjah Chamber of Commerce and Industry (SCCI) has presented its strategic roadmap for the period of 2025 to 2027. This initiative aims to drive significant improvements in the performance, operations, and service quality of the Chamber. The strategy is focused on supporting business sustainability, growth, and anticipating future business trends while enhancing competitiveness and...
The Abu Dhabi Investment Authority (ADIA) is set to acquire a “significant minority stake” in the French outdoor accommodation company, the European Camping Group (ECG), through one of its wholly owned subsidiaries. This acquisition marks ADIA’s continued investment strategy in European markets. The private equity firm PAI Partners, which currently holds a majority stake in...
UAE entities, especially sovereign wealth funds (SWFs), have a significant opportunity to address Brazil’s pressing infrastructure needs while fostering mutual economic growth, according to Luis Fernando Eleutério Lopes, partner and chief economist at Patria Investments. The diplomatic relationship between Brazil and the UAE, which began fifty years ago, has evolved into a robust partnership, characterized...
Abu Dhabi Commercial Bank (ADCB) announced that S&P Global Ratings has upgraded its long-term issuer credit rating to ‘A+’ from ‘A’ with a ‘stable’ outlook. This elevation is attributed to the bank’s robust financial position and high asset quality. The upgrade places ADCB among the top three highest-rated banks by S&P in the MENA region....