Dubai Center for Family Businesses issues guidelines
DUBAI, UAE – The Dubai Center for Family Businesses, which operates under the Dubai Chambers umbrella, has released a ‘Sample...Business Geostrategy
AD Ports to build passenger terminals at Egyptian Red Sea ports
Cairo, Egypt--AD Ports Group (AD Ports) has signed a contract with Egypt to build, develop, operate and maintain terminals for...Business
Mubadala Capital closes fund after raising $1.6 billion
The Fund III is focused on direct investments in North America and Europe in media, sports and entertainment, consumer and...Capital commitments raised from a diverse set of new and existing investors.
Mubadala Capital said it opened offices in New York and London to better capitalize on investment opportunities.
Saudi Arabia leads GCC AI healthcare race
Experts predict AI will contribute $320 billion to the Middle East economy by 2030 and virtual care, remote patient monitoring...Saudi Arabia is predicted to benefit the most from the shift to AI among the six GCC countries
AI is expected to contribute $15.7 trillion to the global economy by 2030.
Pizza Inn to open 5 stores in Qatar
Founded in 1958, Pizza Inn is an international pizza chain featuring traditional and specialty pizzasFounded in 1958, Pizza Inn is an international pizza chain featuring traditional and specialty pizzas
International deal paves way to open more locations
Aramco plans $20m stock swap with Reliance Industries
Saudi Aramco chairman Yasir Al-Rumayyan was inducted into the RIL board in June in the run-up to this deal.This is expected to be an all-stock deal, where Aramco will get a 20% share of RIL for about $20-25 billion worth of its own shares
Based on Aramco’s valuation of $1.9 trillion, the transaction would give RIL a 1 percent stake in Aramco
PIF ups Activision Blizzard holding in second quarter
The sovereign wealth fund is at the center of the kingdom's plans to transform the economy by creating new sectors...During Q4 2020, PIF acquired 14.9 million shares of US video-game maker Activision.
Its other purchases last year included 7.4 million Electronic Arts shares and 3.9 million Take-Two shares worth about $1.1 billion and $826 million.
Tabreed plans to divest its $113.5m stake in Qatar Cool
Tabreed, the Dubai-listed National Central Cooling Company, will divest nearly 44 percent of its stake in Qatar District Cooling Company (Qatar...Assets located in non-core market for the firm
The transaction is estimated to be around 417 million dirhams ($113.5 million) and will not have any “material impact” on the firm,
ADNOC Invests $187m to raise Al Nouf oilfield’s capacity
The investment is a step towards achieving the 5 million barrels per day oil production capacity target by 2030, the...The company will add 20 wells to the Al Nouf field and expand the use of water and gas injection to enhance oil recovery.
It has awarded the 39-month engineering, procurement and construction contract of the Nouf development to Robt Stone.
Bahrain eServices revenue up 257% to $532m in H1
The number of financial transactions in H1 2021 exceeded 1.6 million, double the number in the same period last year.More than 1.1 million financial transactions were carried out on the national portal alone
This an increase of 76 percent compared to the same period of last year
UAE halts all flights to Kabul after Taliban takeover
The United Arab Emirates has cancelled all flights to Afghanistan, after Hamid Karzai International Airport in Kabul was overrun by...Dubai carriers Emirates and flydubai earlier halted flights to Kabul until further noti
Military flights evacuating diplomats and civilians were taking off from Kabul on early Tuesday morning
GCC airlines may continue to fly into losses
In 2020, airlines lost around $370 billion globally, while airports and air navigation services providers lost $115 billion and $13...The regional carriers will benefit from rapid vaccination rates on home markets
Net losses of the airlines in all regions are expected to come down in 2021
