Saudi Arabia’s Crown Prince Mohammed bin Salman welcomed Elon Musk at the royal court in Riyadh. This meeting took place just ahead of the upcoming Saudi-US Investment Forum, which aims to strengthen economic ties between the two countries. The forum is expected to focus on various sectors, including technology and renewable energy, reflecting the interests...
Saudi Arabia’s Crown Prince, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, announced the launch of HUMAIN, a company owned by the Public Investment Fund (PIF). This new entity will operate across the artificial intelligence (AI) value chain as a unified operating company, aiming to streamline various data center initiatives and accelerate...
The United Arab Emirates has announced a significant commitment of US$40 billion to invest in Italy across various strategic sectors. This announcement occurred during an official visit aimed at enhancing bilateral relations and outlining future cooperation between the two nations. The investment will support a wide range of initiatives, including those in the economy, defense,...
AqlanX, an artificial intelligence company based in the UAE, has announced a significant investment of $10 million from Lakeba Group through its venture DoxAI. This funding marks a crucial step in the region’s digital transformation journey and was made possible through connections facilitated by the UAE’s NextGen FDI initiative. The investment aims to enhance AqlanX’s...
International Holding Company (IHC), recognized as one of the UAE’s most valuable listed companies, has teamed up with BlackRock, the world’s largest asset manager, to establish a $1 billion reinsurance company. The new entity, which is still unnamed, will be supported by over $1 billion in initial equity commitments and aims to target $10 billion...
Abu Dhabi investment firm International Holding Company (IHC) has joined forces with BlackRock to establish a reinsurance platform valued at $1 billion, which will be based in the Abu Dhabi Global Market (ADGM). The partnership aims to incorporate additional hybrid and debt financing into the venture. The unnamed platform will offer underwriting capabilities and will...
Abu Dhabi Chamber of Commerce & Industry (ADCCI) and the Japan External Trade Organization (JETRO) have signed a Memorandum of Understanding (MOU) aimed at enhancing business relations between Abu Dhabi and Japan. This agreement was formalized during the Abu Dhabi-Japan Business Connect Forum held in Tokyo, which was attended by key public and private sector...
JPMorgan’s Managing Director and Co-Head of Equity Capital Markets for EMEA and APAC, Aloke Gupte, stated that the initial public offering (IPO) pipeline in the Gulf Cooperation Council (GCC) is set to continue progressing, even with current global market turbulence. While some IPOs may experience slight delays, Gupte believes that the momentum will still outpace...
The MENA IPO market has made a strong start in 2025, with 14 initial public offerings (IPOs) raising a total of $2.4 billion in the first quarter. This marks an increase from 10 IPOs during the same period in 2024, with proceeds surging by 106 percent compared to the previous year. According to EY’s latest...
UAE-based food packaging company Hotpack has announced the establishment of its first manufacturing and distribution hub in North America, located in New Jersey. This strategic move aims to enhance service delivery to its US customers and reflects the company’s commitment to innovation and environmental responsibility in the global packaging market. Last week, Hotpack, in collaboration...