Nakheel, etisalat by e& ink MoU, here’s how it will help new and old residents
Master developer Nakheel has signed a memorandum of understanding (MoU) with etisalat by e&, the telecom arm of e& in the UAE. As part of the agreement, Nakheel will contact its new and existing customers who rent or buy properties across its portfolio of residences via an automated message, allowing customers to connect directly with […]
EDGE inks key deals at airshow, includes Dhs239m UAS deal with defence ministry
Abu Dhabi-based EDGE Group and its entities signed key deals at the Dubai Airshow. The state-owned advanced technology and defence conglomerate comprises 25 companies that provide a diverse portfolio of military and civilian products, services, solutions, and related technologies. One of its entities, ADASI, an autonomous systems and services company, signed a Dhs239m contract to supply Garmoosha unmanned aerial systems […]
DSO bags 4 accolades from fDi’s Global Free Zones awards 2023
Dubai Silicon Oasis (DSO), the economic zone for knowledge and innovation and a member of the Dubai Integrated Economic Zones Authority (DIEZ), has received four accolades from Financial Times’ fDi Magazine Global Free Zones of the Year Awards. The awards are the Global Free Zone of the Year for SMEs, the Middle East Free Zone […]
Bahrain’s GFH acquires Saudi food services and logistics company for $133mln
Bahrain’s GFH Financial Group has confirmed it will acquire a Saudi Arabian food services and logistics business for SAR 500 million ($133 million). In a statement to Dubai Financial Market (DFM), GFH said the company had an enterprise value of SAR 500 million. Razi Al Merbati, CEO of GFH Capital S.A., said: “This transaction will […]
Abu Dhabi’s Invest AD launches Blackstone Private Debt Fund
Abu Dhabi Investment Company (Invest AD), a wholly owned subsidiary of Mubadala Investment Company, has launched the Invest AD Blackstone Private Debt Fund, an SCA-regulated fund, which will offer local feeder access to Blackstone’s US and European private credit strategies. The feeder brings Blackstone’s institutional-caliber credit platform to qualified non-US investors, primarily in the UAE. […]
Masdar to develop 10GW renewable energy projects in Malaysia
UAE clean energy firm Masdar, also known as Abu Dhabi Future Energy Company, has partnered with the Malaysian Investment Development Authority (MIDA) to invest $8bn for up to 10 gigawatts (GW) of renewable energy projects in the Southeast Asian country. The partnership marks an important milestone in the pursuit of a sustainable and greener future for […]
ADQ-backed Silal acquires majority stake in SAFCO Group
ADQ-backed Silal has acquired a majority stake in SAFCO Group, a UAE food and beverage distributor, in a deal that will bolster the company’s market presence and expand its footprint in the food service and distribution industry. The Abu Dhabi-based agtech firm said the transaction aligns with its growth ambitions and significantly strengthens its presence […]
DHL to acquire remaining shares in Danzas AEI Emirates
DHL Global Forwarding (DHL) has signed an agreement to acquire the remaining shares in Danzas AEI Emirates from Investment Trading Group. Both entities have been managing the company through a joint venture since 1995, with Investment Trading Group holding 60 per cent of the shares. A logistics and transport services provider for Dubai and the […]
Lulu opens 72,000 square feet hypermarket in Dubai Mall
Lulu Group, a prominent retail chain, marked its expansion by opening a new branch at the iconic Dubai Mall on Monday. Covering a sprawling 72,000 square feet, this state-of-the-art outlet aims to cater to the needs of millions of visitors to the mall. This latest addition has increased Lulu Group’s store count in Dubai to […]
DIFC unveils five-year innovation strategy for financial services
Dubai International Financial Centre (DIFC) and Refinitiv have revealed a five-year outlook for innovation in the financial services industry. Following the initial wave of innovation sparked during the pandemic, the global financial services industry continues to see major transformations. Tailored to the evolving preferences and expectations of customers and clients, the high demand for convenient […]