IPOs, investments help GCC markets prosper in 2023
Regional markets are reflecting a transition from oil dependency to diversified economies with six IPOs raising $419 million in in...Business Markets
Dubai’s family businesses get practical guidance with new toolkits
Dubai, UAE -- Three toolkits have been developed for family-owned businesses, which make up approximately 90 percent of the UAE’s...Business
TMG of Egypt looks to take advantage of demand for housing in Saudi Arabia and Iraq
Talaat Moustafa Group, the Egyptian real estate company, is looking to expand into Saudi Arabia and Iraq to take advantage...TMG has formed a committee to study investment opportunities in Saudi Arabia and Iraq
The company recently proposed the Nour City project, east of the capital Cairo
Art sales rebound to an all-time high of $2.7 billion after Covid-19 slump
Sales soared between June 2020 and June 2021 as auctioneers quickly adopted a more online approach.NFTs, or "non-fungible tokens", allow people to buy the rights to online art, including images, animation or even tweets.
In March, US artist Beeple sold an NFT of his digital artwork "Everydays: The First 5,000 Days" for $69.3 million.
Outdoor ad firm Al Arabiya announces IPO
The company expects to sell 30 percent of its shares in the offering.The IPO is expected from Oct. 22 to Oct. 26 and a book-building process will determine offer price per share.
In June, the Capital Market Authority had approved the company's request for the IPO.
Emirates and Qantas extend partnership
Together, the airlines are making millions of reward seats available for frequent flyers to access more than 100 destinations.For Emirates customers, the deal provides access to over 55 Australian destinations to where Emirates does not fly
Qantas customers are able to fly on Emirates to Dubai and access over 50 cities in Europe, the Middle East and North Africa, to where Qantas does not fly
Panama law firm heavily implicated in ‘Pandora Papers’ revelations
Alcogal created offshore shell companies to hide money in tax havens for politicians and public figures. They included "some accused...Nearly two million of the 11.9 million leaked documents associated with the Pandora Papers came from Alcogal.
The firm rejected accusations, saying it was considering legal action to defend its reputation.
Expert at AVSEC symposium: Need to rethink security approaches
The 5th edition of the AVSEC Global Symposium, which started on Sunday in Dubai, brought together globally recognized security experts,...The three-day event will host 35 speakers and over 700 delegates from more than 50 countries.
Held since 2013, the symposium is one of the most significant aviation security events in the region and one of the biggest globally.
ADQ to buy stake in IHC subsidiary
Abu Dhabi-based firm will acquire Eltizam Asset Management for AED111.6 million.IHC has entered into a strategic partnership with ADQ to sell a 50% stake in its subsidiary
Eltizam offers an integrated suite of strategic management and real estate services
Libya kicks off construction of oil refinery near an oilfield
Announced in the early 1980s, the project for a refinery in southern Libya had been put on hold for years...An annual income of $75 million is expected from the project, said state oil company head Mustafa Sanalla.
The refinery will be built near Al-Charara oil field, which produces an average of 300,000 barrels of oil a day.
UAE deepens partnership with 14 countries to proscribe laundering of money
The United Arab Emirates Expert Group for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) has continued to hold...These meetings built on earlier meetings held with other key partners, including Saudi Arabia, the Gulf Cooperation Council (GCC), the European Commission (EC), and Russia
Evidence of the UAE’s recent efforts was demonstrated throughout the meetings
Mace, global construction firm, to build $4.3bn lifestyle project in Riyadh
Mace, the global construction company, will be working on a big lifestyle destination project in Riyadh, its developer Majid Al-Futtaim...  Riyadh North project will house over 600 retail stores, nine hotels and branded residences, as well as the flagship Mall of Saudi
It will also feature an indoor ski slope and snow park
