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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Berain Water of Saudi Arabia ropes in Samba for IPO

    • The offering could be as much as 30 percent of stake in the company

    • Riyadh-based Berain is one of Saudi Arabia’s biggest bottled-water companies

    Berain Water of Saudi Arabia has roped in the services of the investment banking arm of Samba Financial Group to manage a potential Initial Public Offering (IPO) of the company, according to Bloomberg citing people familiar with the plan.

    No final decision has yet been made on a potential 30 percent stake sale and the company may decide against an IPO, said the people, who asked not to be identified as the information is private.

    Riyadh-based Berain is one of Saudi Arabia’s biggest bottled-water companies, and its listing would open a new industry to public investment in the Kingdom.

    Saudi Arabia is also expected to sell part of its Ras Al-Khair facility on Saudi Arabia’s Arabian Gulf coast, one of the world’s biggest desalination plants, later this year.

    Saudi Arabia will be among the top 10 most “water-stressed” nations in 2040, according to World Resources Institute forecasts.