Global challenges hit M&A activity in Middle East, GCC
Sovereign Wealth Funds emerge as pivotal players, driving economic diversification and strategic cross-border partnerships, says Riccardo Molinari of Bain &...Business Markets
Saudi solar company ALUPCO partners with Mexico-based Array technologies
Riyadh, Saudi Arabia - Saudi Arabian aluminum extrusion company Aluminum Products (ALUPCO) has entered into a strategic collaboration with Array...Business
SoftBank posts US$5.9bn loss
The group's Q3 loss coincides with a slump in the tech sector.SoftBank said that tts two Vision Fund investment vehicles alone lost 660 billion yen ($5 billion) in October-December
Its CEO Masayoshi Son has regularly defended his strategy of making major bets on high-tech firms and start-ups
India’s Adani Enterprises shares rocket 25%
The group owned by tycoon Gautam Adani lost around $120 billion in value after claims of accounting fraud were levelled...Adani said Monday it was repaying early loans worth $1.1 billion, in a move meant to reassure investors
Hindenburg accused Adani of "brazen stock manipulation and accounting fraud scheme" in "the largest con in corporate history"
Hong Kong looks to encourage Aramco to list in city
Hong Kong-- Hong Kong is looking to persuade oil giant Aramco and its units to consider a secondary listing in...Hong Kong Chief Executive John Lee is embarking on his first official visit to the Middle East
The chief executive said before leaving that Saudi Arabia’s and the UAE’s development vision and needs are “exactly in line” with Hong Kong’s advantages
Increasing pressure from Saudi real estate projects to force Dubai to develop more distinctive offerings
At the moment, the market is solidly Dubai, which is recognised as the world leader in branded residential offerings with...Increasing pressure from Saudi real estate developments will, over the coming years, force Dubai to develop even more distinctive offerings, says an expert.
This race may benefit both the development pipeline and the consumer in the region, writes Thomas Williams, Studio Director at Gensler Middle East
GMG buys out Aswaaq LLC
It will add 22 supermarkets to GMG's retail network in the UAE.Last April, GMG acquired Géant operations in the UAE from Urban Foods by Dubai Holding, adding 18 hypermarket and supermarket outlets to its retail footprint
The company has introduced over 120 brands and has announced plans to double its global workforce by 2025
Iraqi Kurdistan suspends oil export via quake hit Turkey
"The Kurdistan Regional Government confirms the halt of oil exportation through #Turkey's Ceyhan due to the #earthquake that struck several...The autonomous Kurdish region of northern Iraq usually exports around 450,000 barrels of oil a day through Turkey.
A 7.8-magnitude earthquake hit southern Turkey and neighboring Syria on Monday, killing more than 1,800 people.
UAE tops globally in tertiary education
For the 12th year in a row, Switzerland leads the ranks on the Global Innovation Index. South Korea was the...The 2022 GII says it tracks the most recent global innovation trends against the background of the pandemic, slowing productivity growth and other evolving challenges.
It looks at whether stagnation and low productivity growth are here to stay, or whether we are about to enter a new era, where new innovation spurts.
Rothschild family to take investment bank private
The Rothschild family is set to take its investment bank private as its holding company announced plans to buy out...The offer would be priced at 48 euros per share, or 19 percent higher than Friday's closing price, the holding said in a statement.
It is also 15 percent up from the all-time high reached in January 2022.
Dubai records over $381 million in real estate transactions
Dubai, UAE-- Dubai real estate market recorded transactions worth AED1.4 billion ($381 million) on Monday, data released by Dubai's Land...The deals included 490 sales transactions worth AED1.17 billion, in addition to 86 mortgage deals of AED177.94 million.
The sales included 441 villas and apartments worth AED898.41 million, and 49 land plots worth AED269.56 million.
Newmont offers to buy Newcrest
If the deal is sealed, it would be gold sector's largest acquisition.Newmont's offer calls for the merged firm to be 70 percent owned by the Denver, Colorado-based company and 30 percent owned by the Australian firm.
Newcrest's share price rose 9.27 percent to $16.90 (A$24.53) on the ASX on Monday.
