Bahrain Q4 2023 imports increase to US$3.92bn
MANAMA, BAHRAIN - The Information eGovernment Authority (iGA) has published its foreign trade report of Bahrain for Q4 2023, covering...Business Economy
Fit at 40: the revolutionary Apple Mac in numbers
Paris, France - Forty years ago Steve Jobs revolutionised personal computing by launching the Apple Macintosh, the first PC with a...Business
Blackstone looks to buyout Dubai-based VFS Global for $1.2bn
Blackstone, the US-based alternative investment management company, is in discussion with VFS Global, the Dubai-based visa outsourcing company, to buy...The due diligence process for the acquisition is complete
VFS Global is a spinoff of Swiss travel group Kuoni. It is 90 percent owned by Swedish private equity firm EQT and 10 percent by the Kuoni Foundation
DP World to invest $415m in a berth at London Gateway hub
DP World, the Dubai-based port operator, will invest $415 million in a new berth at its London Gateway logistics hub...Work on the new berth will begin next month
The sum builds on the 2 billion GBP investment DP World has made in Britain over the last decade
Saudi startup Unifonic raises $125m
The startup's latest funding is led by SoftBank and a unit of the PIF.The Series B funds will be used to grow Unifonic’s platform in the Middle East, and further expand to Africa and Asia
The news of the deal was out in June, but it was confirmed on Wednesday only, making it the first investment of SoftBank in a Saudi startup.
Egypt and Japan’s Toyota look to invest in blue ammonia
Egypt and Toyota of Japan are looking to explore investment opportunities in blue ammonia, and in this regard the Egyptian...Blue ammonia is made of hydrogen, a gas that is seen as key to a global energy transition, given that only water vapor is emitted from it upon combustion
Securing blue ammonia and hydrogen among other cleaner fuels are a key part of Japanese efforts to decarbonize its society by 2050
Fans to return in small numbers to UAE leg of Indian Premier League
The Board of Control for Cricket in India, in a statement on its website, has confirmed the earlier reports, which...The first of the 13 remaining IPL matches is scheduled to be played this Saturday
Tickets are expected to go on sale from Thursday on platforms including the official IPL website
Minerals Development Oman to build titanium dioxide plant
DUBAI: Minerals Development Oman (MDO) will build a titanium dioxide production plant with an annual capacity of 150,000 tons in...The plant will have an annual production capacity of 150,000 tons.
MDO will own 35 percent of the project shares, while the remaining shares will be owned by strategic partners.
Aramco taps Honeywell for sustainability, productivity
This cooperation builds on a 2017 MoU between Honeywell and Aramco to explore the benefits of Honeywell's Industrial Internet of...The two companies will look to explore the co-development and commercialization of next-generation digital technology solutions
The solutions will be designed to help improve productivity, sustainability, and operational excellence of industrial companies
Powerbar Gulf, parent selling for $1.8bn
Vertiv Holdings Company is making the buy via its subsidiaries.The deal includes upfront consideration and the potential for $200 million in cash, based on achieving 2022 profit milestones
The upfront consideration consists of $1.17 billion in cash and approximately $630 million of Vertiv’s common stock
Kuwait’s Burgan Bank gets approval to issue $500m senior bonds
Kuwait's Burgan Bank has been allowed to issue up to $500 million senior unsecured bonds under its Euro Medium Term...The bank said the proceeds from the bond issuance will help it reinforce its long-term liquidity.
The bonds will have either a five-year tenor and a fixed coupon, or a six-year tenor with redeem option.
Dubai 11th popular city for investment visa programs, second for Covid safety
Henley & Partners’ Best Residence-by-Investment Cities for Business Index ranks cities according to lifestyle, tax, education, real estate, healthcare, security,...Dubai scored highest overall in the index in the tax category.
The emirate was second on the index for Covid-19 safety.
