Business NEWS DESK

Hotpack celebrates milestone achievement of reaching 50 retail stores across the MEA

News Desk 2 07/08/2023

Dubai – August 07, 2023: Hotpack Global, a leading sustainable packaging products manufacturer based in the UAE, marked a significant achievement by expanding its retail presence to 50 stores across the Middle East and Africa. The milestone was celebrated with the unveiling of a special logo

Business NEWS DESK

Emireum launches Business Passport, a holistic business set-up package

News Desk 2 07/08/2023

Emireum Business Services, a Dubai-based investment and business set up advisory, has announced the launch of Emireum Business Passport – a unique business start-up and loyalty package that gives new investors up to Dh10,000 in the form of service credits that the investors could use up for additional services and renewals, as a value addition […]

Business

OIL AND SERVICES GROW UK-GCC TRADE TO $83BN

News Desk 2 07/08/2023

Dubai, United Arab Emirates – 7 August, 2023: Total trade between the UK and GCC countries rose by more than 70 percent to £64.5 billion ($82.7 billion) in the year to the end of March, driven by rising oil prices and a demand for services as Gulf states move to diversify their economies. According to […]

Business NEWS DESK

Al Ansari Financial Services secures approval to acquire controlling stake in leading exchange company in Oman

News Desk 2 07/08/2023

UAE, 7 August 2023: Al Ansari Financial Services’ PJSC [DFM: ALANSARI], announced today that it has presented a formal proposal to acquire a majority stake in one of the Sultanate of Oman’s prominent exchange companies. The Group has received an initial approval subject to meeting the necessary regulatory conditions. This strategic move is in line […]

Business

Disprz Raises $30M in Series C Funding to Expand Presence in the Middle East Markets

Middle East News 247 07/08/2023

Disprz, an AI-powered learning and skilling suite, has raised $30 Million in its Series C funding round led by Lumos Capital and 360 ONE Asset (IIFL), with participation from Kae Capital, KOIS, & Dallas Venture Capital. The funds raised in the round will be utilized for global market expansion and product development using new-age technologies […]

Business

Berkshire Hathaway Specialty Insurance Welcomes Louis Bidmead as Head of Transactional Liability Insurance for Asia and the Middle East

Middle East News 247 07/08/2023

Berkshire Hathaway Specialty Insurance (BHSI) today announced that it has named Louis Bidmead as Head of Transactional Liability Insurance for Asia and the Middle East. In this role he will work with BHSI’s global transactional liability team to provide BHSI’s comprehensive line of coverages to manage the risks of mergers, acquisitions, and other corporate transactions.

Business

Esports company banks on Asian and Pakistan’s dominance for public listing

Aman Kumar 04/08/2023

Recent developments in the burgeoning Esports industry are seen as a welcome infusion in providing a platform to world-class gamers, especially in Pakistan and the UAE. Coming up this month in the United States is a public listing from Gamer Pakistan Inc, a month after the rising youth Esports icon Arsalan ‘Ash’ Siddiqui talked about […]

Business

Conares Strengthens ESG Commitment; Aligns with UAE’s Sustainability Drive

News Desk 2 04/08/2023

Dubai; 04th August 2023: Conares, the second largest private steel manufacturer in the UAE, has demonstrated its dedication to Environmental, Social, and Governance (ESG) initiatives by making significant progress. Strengthening its commitment to sustainability, the company has recently appointed three distinguished non-executive directors to its board. This strategic move

Business Hospitality

HILTON PLANS TO MORE THAN QUADRUPLE ITS PRESENCE IN SAUDI ARABIA

News Desk 2 03/08/2023

RIYADH, Saudi Arabia, 03 August 2023 – As Saudi Arabia continues to fulfil its vision of becoming a world leader for international travel and tourism, Hilton (NYSE: HLT) has announced plans to open over 50 new hotels across 10 of its brands, making the country the company’s largest pipeline market in Europe, the Middle East and Africa (EMEA). Hilton

Business NEWS DESK

e& money launches prepaid card with cash rewards

News Desk 2 03/08/2023

Dubai, UAE, 3 August 2023:  e& money, the fintech arm of e& group, today announced the launch of the e& money card, a digital first card for the UAE market promoting financial inclusivity and advancing the vision of fostering a cashless economy. e& money card enables every resident in the UAE to obtain a card within […]

Tech Business

OPSWAT and Starlink Partner to Strengthen Cybersecurity Defenses for MEA’S Critical Infrastructure

News Desk 2 03/08/2023

Dubai, United Arab Emirates — August 03, 2023 — OPSWAT, a global leader in Critical Infrastructure Protection (CIP) cybersecurity solutions, today announced a partnership with value-added distributor (VAD) Starlink, an Infinigate Group company and a regional leader in the delivery of market-leading cyber and cloud solutions. Covering the Middle East and Africa (MEA)

Business NEWS DESK

DUBAL Holding and Oriental Copper

News Desk 2 03/08/2023

DUBAL Holding, the investment arm of Dubai Government in the commodities, mining, power, energy, and industrial sectors, signed a Memorandum of Understanding (MoU) with Oriental Copper Co., Ltd., a leading manufacturer of high conductivity copper products in Thailand, to manufacture high-quality copper products in the UAE. The MoU was signed by Ahmad Hamad Bin Fahad, […]

Business Aviation GCC UAE

Dubai Aerospace Enterprise (DAE) H1 2023 revenue up 15%

Arnold Pinto 03/08/2023 0

Dubai Aerospace Enterprise (DAE) has reported that its revenue has increased by 15%; while profit before tax increased by 13% for the six months ended June 30, 2023. The Dubai headquartered aviation services corporation disclosed its latest financial results on August 2, 2023. Firoz Tarapore, CEO of DAE, said: “Our first half 2023 results demonstrate the […]

Business

Airalo, World’s Largest eSIM Marketplace, Raises $60 Million in Series B Financing

Middle East News 247 02/08/2023

Airalo, the pioneering eSIM marketplace revolutionizing global connectivity, announced today the successful completion of its Series B financing round, raising an impressive $60 million. Led by e& capital, the investment arm of e&, the global technology group, this brings Airalo’s total funding to $67.3 million. Antler Elevate, Liberty Global, Orange,

Business

Student enrolments in the GCC to grow by 1.1 million in the next five years, says Alpen Capital

News Desk 2 02/08/2023

Dubai – August 2nd 2023: Alpen Capital’s latest education industry report projects the total number of students in the GCC to increase by 1.1 million and reach 14.2 million by 2027. During the forecast period, K-12 enrolments in the region are expected to grow at a CAGR of 1.5% to reach 11.7 million by 2027. […]

Business

Middle East Region Champions Healthy Buildings, Leads 24-Fold Increase in WELL Adoption

Middle East News 247 02/08/2023

The Middle East region is leading the charge in driving growth and adoption of the WELL Building Standard (WELL) globally with a 24-fold increase in WELL adoption over the last 19 months, a feat announced today by the International WELL Building Institute (IWBI), the global authority for driving market transformation toward healthy buildings, organizations and […]

Business NEWS DESK

The new McLaren 750S Spectrum Theme by MSO

News Desk 2 02/08/2023

McLaren Automotive announces that the Spectrum Theme – a stunning new multi-tone paint finish developed and applied by world-class paint technicians at McLaren Special Operations (MSO), McLaren’s in-house bespoke personalisation service – will be offered exclusively on the new 750S, McLaren’s lightest and most powerful series-production supercar. Perfecting the Spectrum

Business

RAK Ceramics publishes its Environmental, Social and Governance report for 2022

News Desk 2 02/08/2023

Ras Al Khaimah, United Arab Emirates, August 2023: RAK Ceramics published its Environmental, Social and Governance (ESG) report for the year 2022, documenting the company’s achievements in the realm of sustainability and social responsibility. This comprehensive report presents the outcomes of the set objectives for the year and outlines the aspirations and goals for the

Business GCC UAE

H.E. Bin Touq: UAE’s GDP records 3.8 per cent growth

News Desk 2 02/08/2023

H.E. Abdullah bin Touq Al Marri, Minister of Economy, explained that the preliminary estimates of the UAE’s GDP growth at constant prices in the first quarter (Q1) of the year 2023, issued by the Federal Center for Competitiveness and Statistics, confirm the strength of the national economy. Most sectors and economic activities that serve as […]

Business

Menlo Security™ Redefines Browser Security with Industry-First AI-Powered Phishing and Ransomware Protection

Middle East News 247 02/08/2023

MOUNTAIN VIEW, Calif. — Menlo Security, Inc. (“Menlo Security”), a leader in browser security, today announced HEAT Shield™ and HEAT Visibility™, the industry’s first suite of threat prevention capabilities designed to detect and block highly evasive threats targeting users via the web browser. Menlo Security HEAT Shield™ detects and blocks phishing attacks before they can