Saudi Arabia’s ACWA Power announced on May 29 that it has signed a preliminary agreement to develop up to 12.5 gigawatts of renewable energy generating capacity in Malaysia. The initial investment for this project is set to reach up to $10 billion. The renewable energy utility confirmed in a statement that it has entered into...
Hotel101 Global, a subsidiary of DoubleDragon Corp. based in Singapore, has announced a significant expansion in Saudi Arabia, with plans to develop 10 000 standardized hotel rooms. This ambitious project is valued at $2.5 billion, roughly equivalent to ₱137.5 billion, and marks a transformative move in the hospitality sector, aiming to elevate the Kingdom’s tourism...
Bloomspoon, a startup based in Dubai that focuses on eco-friendly consumer goods, has achieved a significant milestone by securing an AED 800 000 investment offer on Season 3 of Shark Tank Dubai. The investment, which represents 49% equity in the company, was made by Toufic Kreidieh, the Executive Chairman and Co-Founder of Brands for Less...
Abu Dhabi Commercial Bank (ADCB) successfully issued a five-year Formosa bond worth $600 million, priced at SOFR plus 100 basis points. This pricing aligns with the final guidance provided to investors. A banker involved in the deal noted that floating-rate tranches are particularly appealing to investors, especially bank treasuries. The five-year tenor is seen as...
His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister of Bahrain, met with Singapore Prime Minister Lawrence Wong during his official visit to Malaysia. The two leaders discussed the ongoing development of bilateral relations, emphasizing their commitment to enhancing cooperation between Bahrain and Singapore. Prince Salman highlighted the significance of...
GFH Financial Group, based in Manama, has raised its stake in Seef Properties to nearly 30%, strengthening its position in Bahrain’s real estate market. The investment firm announced on Tuesday that it has acquired an additional 15.63% of shares in Seef Properties, which now brings its total shareholding to 27.98%. Last year, GFH Financial had...
Dubai-based fintech company Qashio has successfully secured $19.8 million in equity and non-equity financing. This investment round was led by Rocketship, an early-stage venture fund located in California, and included participation from Oneway VC, ABN Ventures, MITAA, alongside other investors such as family offices and banks in the Middle East and North Africa (MENA) region....
Abu Dhabi’s TAQA (TAQA.AD) is actively seeking to acquire companies in the United States and other locations, according to its chief executive, Jasim Husain Thabet. The state-owned utility is focused on international expansion and is striving to meet its ambitious growth targets. “The U.S. is a key market for us,” Thabet stated during an interview...
ANAX Capital Financial Markets LLC, a Dubai-based financial services firm, has officially launched its operations with a significant event held at Palazzo Versace. The gathering attracted VIP guests, international celebrities, industry professionals, and media representatives to commemorate the company’s entry into the vibrant financial sector of the UAE. Credit: Entrepreneur Middle East During the event,...
The fourth edition of ‘Make it in the Emirates’ wrapped up in Abu Dhabi after a successful four-day event, revealing new industrial projects worth over AED 11 billion. This initiative aims to boost local manufacturing and promote investment in the industrial sector. Credit: Emirates 24/7 Over the course of the event, various stakeholders showcased their...