Business

DIFC Announces New DIFC Venture Studio Regulations

News Desk 2 23/02/2023

Dubai, UAE, 23 February 2023: Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, proposes to enact new Venture Studio Regulations to establish the first global legal framework for the regulation of venture

Business

NEC Corporation Elevates Aalok Kumar to a Global Role; To Head the Global Smart Cities Business in Addition to India Responsibilities

Middle East News 247 23/02/2023

DELHI, India — NEC Corporation India, a wholly owned subsidiary of NEC Corporation, announced the elevation of Mr. Aalok Kumar, Chairman, President and CEO, NEC Corporation India, to Corporate Officer & Senior Vice President – Head of Global Smart City Business. Aalok will continue to lead the India business and further strengthen India’s strategic positioning

Business GCC UAE

UAE and Spain explore investment exchange opportunities

News Desk 2 23/02/2023

Abu Dhabi, 23  February 2023: H.E. Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, held a meeting with H.E. Xiana Mendez, Secretary of State for Trade at the Spanish Ministry of Industry, Trade and Tourism to explore the strengthening of trade and economic cooperation. Emphasizing the deep historic relations shared […]

Business

Gradiant Acquires Advanced Watertek to Expand Manufacturing Capabilities and Middle East Presence

Middle East News 247 23/02/2023

BOSTON — Gradiant, a global solutions provider for advanced water and wastewater treatment, today announced it has acquired Advanced Watertek, a leading original equipment manufacturer (OEM) and service provider for membrane-based water and wastewater treatment systems. The acquisition strengthens manufacturing resources for Gradiant’s custom-designed and integrated

Business GCC UAE

UAE and Lithuania discuss opportunities

News Desk 2 23/02/2023

Abu Dhabi, 23 February 2023: H.E. Abdulla bin Touq Al Marri, Minister of Economy, held a meeting with H.E. Kęstutis Navickas, Lithuanian Minister of Agriculture, and his accompanying delegation, during which, he emphasized the strength of the bilateral relations between the UAE and Lithuania. The Minister of Economy stated that the shared interest of both […]

Business

Netcracker Showcases Telco to TechCo Transformation and How CSPs Can Accelerate Profitable Business Growth at MWC Barcelona

Middle East News 247 23/02/2023

Netcracker Technology announced today that it will highlight its leadership in helping telecommunications operators remain successful in the digital economy during MWC Barcelona 2023 next week. During the event, Netcracker will be featured in a keynote on the main stage and exhibit its solutions through compelling and engaging use cases. On Tuesday, February

Business

DUBAL Holding announces 37% annual growth

News Desk 2 22/02/2023

Dubai, February 22, 2023: DUBAL Holding LLC (DH), the investment arm of the Dubai Government in the commodities and mining, power and energy, and industrial sectors, reported a net profit of AED 3.7 billion in 2022, reflecting a 37% increase from the previous year’s figure of AED 2.7 billion. This was disclosed at the annual […]

Business

HDFC Bank, Lulu Exchange partner to boost cross-border payments between India and Middle East

Middle East News 247 22/02/2023

India’s largest private sector bank – HDFC Bank, and UAE based financial services company – Lulu Exchange, today signed an agreement to strengthen cross-border payments between India and GCC region. In its first phase, the partnership will draw on Lulu Exchange’s expertise and regulatory framework to launch a digital inward remittance service titled ‘RemitNow2India’ that

Business

CHALHOUB GROUP ENTERS THE PHARMACY SECTOR

News Desk 2 22/02/2023

Chalhoub Group signed a joint venture agreement with French certified-organic skincare brand, PATYKA, marking its entry into the retail pharmacy sector. The joint venture is set to support the Group’s long-term commitment to developing the regional skincare market and modernising the current selective and pharmacy channels by working with science-backed skincare

Business

QNET’s HomePure Viva Delivers the Purest Drinking Water Directly to Households

Middle East News 247 22/02/2023

QNET, an e-commerce based direct selling company, has unveiled its latest innovation in the HomePure range – the HomePure Viva. This state-of-the-art water ioniser and filter is set to redefine how people access healthy drinking water in the comfort of their homes. In celebration of its 25th anniversary, QNET has taken a significant stride forward […]

Business

Crescent Petroleum signs three contracts to develop oil and gas fields in Diyala and Basra

Middle East News 247 22/02/2023

Crescent Petroleum, the Middle East’s oldest privately-owned upstream oil and gas company, has signed three twenty-year agreements with Iraq’s Ministry of Oil to appraise, develop, and produce oil and gas from two blocks in Diyala governorate and one in Basra governorate. The agreements will deliver much needed natural gas to fuel nearby power plants and […]

Business

Red Sea Global Launches New Water Sports and Diving Brands

News Desk 2 22/02/2023

Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations, The Red Sea and Amaala, has revealed two new brands, WAMA and Galaxea, set to deliver incredible guest experiences at RSG destinations. Last year the developer rebranded as Red Sea Global, promising the establishment of a series of RSG-owned subsidiary

Business

Williams Racing and Gulf Oil International Announce Long-Term Partnership

News Desk 2 21/02/2023

Williams Racing is delighted to announce a multi-year partnership with Gulf Oil International, one of the world’s leading manufacturers of oils and lubricants. Gulf’s partnership with Williams Racing is another major signing for the team as it continues its transformative journey across the business, demonstrating the new era of commercial investment for Williams Racing

Business

Newly Established “Access to Healthcare Board” Will Transform Access to Healthcare in the Middle East and Africa

Middle East News 247 21/02/2023

DUBAI, United Arab Emirates — Ambitious and passionate healthcare experts from the Middle East and Africa region have formed an advocacy board that will transform access to healthcare through innovative, consistent, sustainable, and customized solutions. The “Access to Healthcare Board” comprises key government, regulatory, private, and societal stakeholders seeking

Business GCC UAE

Hitachi Energy to supply the UAE’s first charging infrastructure

News Desk 2 21/02/2023

Dubai, United Arab Emirates, February 21, 2023 – Hitachi Energy, a global technology leader that is advancing a sustainable energy future for all, has won an order from Admiral Global DMCC, a Dubai regional headquartered e-mobility and energy solutions provider for industries, to supply the first charging infrastructure for electric truck fleets in the United […]

Business

Al Tayer Motors Opens First Ford Trucks 3S Facility

News Desk 2 21/02/2023

Dubai, February 21, 2023 – Al Tayer Motors, the UAE’s official Ford Trucks importer-dealer, opened the first 3S – Sales, Service, and Spare Parts – facility for the brand at Dubai Investments Park, in the heart of the city’s transport and logistics hub. The 2700 square meter facility exclusively dedicated to Ford Trucks includes a […]

Business

Savoye signs a contract with New East General Trading

News Desk 2 21/02/2023

February 21, 2023: Savoye, a leading global warehouse automation integrator and software publisher in the Middle East, signed a contract with New East General Trading L.L.C., a leading automotive parts distributor in the region, to provide the company’s Dubai Distribution Centre with automated solutions. Savoye will automate New East’s distribution centre by integrating

Business GCC UAE

UAE Banks Federation signs MoU with the Azerbaijan Banks Association to enhance cooperation

News Desk 2 20/02/2023

Abu Dhabi, United Arab Emirates; 20 February 2023 UAE Banks Federation, the representative and unified voice of banks in the UAE signed a Memorandum of Understanding (MoU) with the Azerbaijan Banks Association, the umbrella organisation of banks and financial institutions in the Republic of Azerbaijan, on 15th February to enhance cooperation and exchange of experiences

Business

Al Zorah – 2 Billion Dirhams Projects Construction Updates

Middle East News 247 20/02/2023

Ajman, United Arab Emirates — Al Zorah Development Company, a joint venture between the Government of Ajman and Solidere International and the leading holistic real estate master developer of Al Zorah area in the Emirate of Ajman, provides a construction progress report on its current ongoing projects. The year 2022 was an exceptional one for […]

Business

Telford Offshore Announces Completion of Sales Process and Acquisition by Merced Capital

Middle East News 247 20/02/2023

DUBAI, United Arab Emirates — The Telford Offshore group (“Telford Offshore” or “the Company”) announced today that it has been acquired by entities affiliated with Merced Capital. The acquisition represents the completion of the previously announced competitive sales process (the “Sales Process”). Telford Offshore is now wholly owned by Merced Capital. As part of the […]