Business Markets

Forex.com forecasts a positive economic outlook for the GCC region in the second half of 2023

Arnold Pinto 28/08/2023 0

The six GCC countries – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE – are exhibiting a positive economic outlook for the second half of 2023 (H2 2023) thanks to several factors, including oil prices, according to new research conducted by Forex.com. Based in New Jersey,

Markets Business

More power to the Global South as 5 MEA countries will join the BRICS bloc

Arnold Pinto 26/08/2023 0

A record five Middle East and Africa (MEA) countries will formally join BRICS – the bloc of five major emerging economies – from January 1, 2024. The five MEA nations are Iran, Saudi Arabia, Egypt, Ethiopia, and the United Arab Emirates (UAE). BRICS currently comprises Brazil, Russia, India, China, and South Africa. South Africa joined the group in 2010, […]

Business Automotive GCC Oman

Lynk & Co launches its first showroom in Oman and unveils the 09 luxury SUV too

Arnold Pinto 26/08/2023 0

Lynk & Co, a premium global automotive brand jointly owned by Geely and Volvo Cars, has unveiled its first showroom in Oman in partnership with Towell Auto Centre. Opened under the onus of a new business entity known as Mobility Auto – a new subsidiary of Muscat-headquartered Towell Auto Centre – the inaugural Lynk & […]

Business

WasteFuel Appoints Former Maersk Executive Peter Votkjaer Jorgensen as Chief Financial Officer

Middle East News 247 11/08/2023

LOS ANGELES — WasteFuel, a California-based biofuels company, announced today the appointment of Peter Votkjaer Jorgensen, former Partner in Maersk Growth, the venture arm of the A.P. Moller – Maersk Group, as Chief Financial Officer (CFO) effective October 1, 2023. Peter will be responsible for the financial management of the company, support the company’s

Business GCC NEWS DESK UAE

UAE-based Gingo Partners Announces Successful Fundraising Campaign, Securing $350k to Fuel the Community and Investments

News Desk 2 11/08/2023

Abu Dhabi, August 11 – Gingo Partners, an Investor Outreach Service and Startup Community, is thrilled to announce the successful completion of its fundraising campaign, securing $350k in capital from a group of business angels.  This investment will allow Gingo Partners to accelerate its vision of bringing inclusivity and diversity in venture capital and capitalize

Business

Hikma and Rakuten Medical sign exclusive licensing agreement for AlluminoxTM platform cancer treatment for the Middle East and North Africa

Middle East News 247 11/08/2023

London, United Kingdom — Hikma Pharmaceuticals PLC (Hikma), the multinational pharmaceutical company, today announces an exclusive licensing and commercialisation agreement with Rakuten Medical, Inc. (Rakuten Medical), a global biotechnology company developing and commercialising precision, cell targeting therapies based on its proprietary Alluminox™ platform. Under

Business

Bain & Company study shows 85% of business leaders view social issues as “urgent” concerns for their companies

News Desk 2 10/08/2023

Dubai, United Arab Emirates—August 10th, 2023—Expectations about the role of business in society are changing dramatically. The impact of business on the environment is of vital importance to many corporate constituencies. Today, however, many more purely social concerns are coming strongly to the fore and CEOs are paying close attention. A Bain & Company survey […]

Business Tech

Axis Communications and AlJammaz Technologies announce partnership to enhance security solutions in the Kingdom of Saudi Arabia

News Desk 2 10/08/2023

Dubai, United Arab Emirates, August 2023 – Axis Communications, the global leader in network cameras, access control, and network audio devices for the physical security and video surveillance industries, announced the onboarding of AlJammaz Technologies as its newest distribution partner in the Kingdom of Saudi Arabia (KSA). The strategic decision to partner with AlJammaz

Business

CHAMPIONING SUSTAINABLE LIVING WITH LG THINQ

Middle East News 247 10/08/2023

Dubai, United Arab Emirates — In a world where environmental challenges are ever-increasing, LG Electronics (LG), a global pioneer in technology and sustainability, continues to pave the way for a more sustainable future with its groundbreaking ThinQ technology. With an unwavering commitment to developing solutions that not only enhance lives but also preserve our planet,

Business

2023 Korean Literature Review Contest: Opportunity to Visit Korea and Experience Its Culture for Nine Days!

Middle East News 247 10/08/2023

SEOUL, South Korea — Literature Translation Institute of Korea (the “Institute”) holds the “2023 Korean Literature Review Contest” from July 10 (Mon) to September 30 (Sat). Anyone can apply for this contest after reading one of the books selected by the Institute and expressing their impressions in various creative formats, including text, picture, and video. Any […]

Business GCC NEWS DESK UAE

EU-Financed ‘Fresh Fruit Gift’ Campaign holds Dubai Promotions

News Desk 2 09/08/2023

DUBAI, UAE 9th August 2023:  A series of promotions were held in 17 sales locations throughout Dubai from July 24 to July 29, 2023, as part of the execution of the EU-financed campaign ‘’Fresh Fruit Gift’’. During the above activities the consumers had the opportunity to get informational material like brochures about the EU-financed campaign […]

Business NEWS DESK

Parsons Wins $52M Public Works Authority Contract In Qatar

News Desk 2 08/08/2023

Doha, Qatar (Aug 8, 2023) – Parsons Corporation (NYSE: PSN) announced today that the company has been selected to deliver design engineering consultancy services to Qatar’s Public Works Authority, more commonly known as Ashghal, for a new road and infrastructure framework. The $52 million, six-year contract includes conceptual, preliminary, and detailed design for roads

Business NEWS DESK

Life opens 400th milestone pharmacy outlet

News Desk 2 08/08/2023

Dubai – August 08, 2023: Life Healthcare Group, UAE’s leading homegrown healthcare company and owner of the country’s largest pharmacy outlet chain, has announced the launch of its 400th pharmacy cementing its leadership position in the healthcare sector. The expansion reaffirms Life Healthcare as a major player in the region, offering the most comprehensive range […]

Real Estate Business

Treo Homes Secures Funding and Partners with Leading Property Developer to Drive Innovation in the Real Estate Sector

News Desk 2 08/08/2023

July 2023, Dubai, United Arab Emirates: Treo Homes, the multi-award-winning boutique Real Estate Agency in Dubai, secures a multi-million dollar investment by a leading property developer in the region, looking to expand their sales and marketing presence in both Dubai and globally. This pivotal moment heralds a new era of growth, worldwide expansion, and cutting-edge […]

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 dedicated to these 50 stores by Mr Khaled Al […]

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.