ADQ, ADNEC Group sign agreements
They will buy 40.5% stake in TMG Holding’s hospitality business.Company News Business
Emirates Post and ENOC team up to boost delivery services
Emirates Post and ENOC Group have partnered to improve delivery services in logistics and e-commerce field in the UAE.Both Emirates Post customers and business partners can benefit from this new partnership
The agreement offers a flexible way for customers to pick-up or drop-off their courier packages by choosing the ZOOM store that is accessible and convenient to them
India’s Reliance ditches $15bn Saudi Aramco deal
India's Reliance oil-to-telecoms giant is abandoning a $15 billion deal for Saudi Aramco to buy a 20 percent stake in...The deal was announced more than two years ago by Reliance and touted as the biggest foreign investment in the company's history
Aramco is the world's biggest oil-producing company and vies with Apple for the title of the most valuable firm on the planet
HAYVN, a digital currency firm, closes Series A funding
HAYVN, the Abu Dhabi-based digital currency platform, has closed Series A funding round led by Red Acre Ventures and Hilbert...As part of the transaction, Red Acre Ventures has joined the HAYVN Board of Directors
The UAE is poised to be a global hub for the emerging asset class that is digital currency
Qatar and PSG, a lasting bond beyond the 2022 World Cup
Qatar's investment in French giants Paris Saint-Germain, and its use of the club as a central tool for the gas-rich..."Close to 15 years ago Qatar did not exist in public opinion," says Lavergne. "Paris Saint-Germain is central to this policy. With the club they reach the whole world
The ties between Qatar and France stretch well beyond the realms of this sporting connection
Two Abu Dhabi firms partner to adopt energy-saving technology
Abu Dhabi Health Services Company (SEHA) and Abu Dhabi Energy Services (ADES) have begun the first phase of their Energy...As part of the agreement, which was originally signed in September, ADES will implement key energy-saving technologies in several of SEHA’s facilities to enhance sustainability
The strategic collaboration will mark SEHA’s commitment towards the adoption of energy-efficient modifications for its facilities
UAE ministry signs pact with ADDED and ADNOC to promote Emirati products
The Ministry of Industry and Advanced Technology (MoIAT) and Abu Dhabi’s Department of Economic Development (ADDED) will work on proposing...MoU part of a program aimed at redirecting above 42 percent of public-sector and select private-sector expenses towards local suppliers.
The pact is in line with the objectives of the National Strategy for Industry and Advanced Technology, Operation 300bn.
SIDF and Al Rajhi team up to boost industries growth
The Saudi Industrial Development Fund (SIDF) has teamed up with Al Rajhi Bank to provide a documentary credit service.The documentary credit service enables investors to obtain the necessary liquidity to implement projects and to speed up project implementation procedures
The fund aims at stimulating the growth of national industries through the partnership with the private sector
Dubai Index surges 80 percent, Saudi losses continue
Dubai index outperformed GCC peers, following the emirate's announcement of plans to open a $545 million market-making fund and IPOs...As of Thursday, Abu Dhabi's main index increased by 0.1 percent, aided by a 2.4 percent increase in Alpha Abu Dhabi Holding.
Saudi index lost for the third consecutive week and Abu Dhabi was largely stable.
Riyadh Season casts its spell on GCC
So far more than two million visitors have marked their presence in the five-month long arts and culture festival.From young and old, men and women, all have trooped into the area to partake of music, sports, cars, business, agriculture, and many more events
Live concerts featured many regional and international singers like Kazem Al Saher, Angham, Elissa and many more that can interest children, families, and youth as well
ENOC Group and Air Chateau sign pact
Under the agreement, ENOC will fuel up to 30 helicopters of Air Chateau.Air Chateau offers charter and transportation services to tourists, high net worth individuals and air ambulances.
ENOC Aviation's current supply network spans over 200 airports across 21 countries.
