Business Events

Ruler of Ras Al Khaimah inaugurates Motherson production plant

Arnold Pinto 08/09/2023

The new facility makes wiring harnesses for commercial vehicles and special-purpose vehicles His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, formally inaugurated the Motherson Group’s wiring harness production facility at Ras Al Khaimah

Business Tech

First batch of DIFC Metaverse Accelerator Programme graduates

Arnold Pinto 07/09/2023

Programme received 160+ entries from UAE, UK, US, India, France The first batch of 10 Middle Eastern and global startups has graduated from the DIFC Metaverse Accelerator Programme of Dubai International Financial Centre (DIFC) after undergoing a three-month-long series of boot camp workshops that began on June 5, 2023. The programme received 160+ entries from […]

Oil & Gas Business

Gastech Singapore 2023 backs a unified approach to net zero

Arnold Pinto 06/09/2023

The global energy sector’s challenges undergo scrutiny Ministers, CEOs, and international business leaders have committed to unified industry action towards net zero on the opening day of Gastech 2023 in Singapore. Gastech 2023, the world’s most significant meeting place for natural gas, LNG, hydrogen, low-carbon solutions, and climate technologies, opened at

Cybersecurity Business GCC UAE

Check Point launches security platform for UAE enterprises

Arnold Pinto 06/09/2023

Infinity Portal secures businesses’ security infrastructure San Carlos, California-headquartered Check Point Software Technologies, a leading provider of cybersecurity solutions to governments and corporate enterprises globally, has launched Check Point Infinity Portal – its advanced cloud-based platform – exclusively for UAE-based corporate enterprises.

Logistics Business GCC Saudi Arabia

‘Landmarks In Logistics KSA Summit 2023’ set for Jeddah City

Arnold Pinto 04/09/2023

Inaugural event focuses on the Middle East logistics sector The inaugural edition of ‘Landmarks In Logistics KSA Summit 2023’ is set to be held at the InterContinental Jeddah on September 6, 2023, as Saudi Arabia moves into pole position as a global logistics and supply chain hub spearheaded by its excellent rail, air, sea, and […]

Business Corporate

Gordon Brothers’ acquisition of Telefunken will boost the brand’s growth

Arnold Pinto 04/09/2023

Licensee partnership to be expanded internationally Gordon Brothers, the global advisory and investment firm, has acquired the global consumer electronics brand Telefunken. Based in Frankfurt, Germany, Telefunken is one of the leading names in the electronics sector with a diverse portfolio of products ranging from video, e-mobility, domestic appliances and audio.

Real Estate Business

Penthouse.ae sets AED44 million record with Palm Jumeirah unit sale

Arnold Pinto 03/09/2023

Russian investor buys iconic three-bedroom duplex apartment Penthouse.ae, the Dubai-based real estate agency serving Ultra High Net Worth Individuals (UHNWIs), has set a sales record for the highest price per square foot for a residential unit on the tree-shaped Palm Jumeirah island in Dubai City. A first-time Russian investor acquired the spectacular three-bedroom duplex

Markets Business

Arab nations urged to align their economies on global trends

Arnold Pinto 02/09/2023

Ministers of economy meet at Arab League HQ in Cairo The UAE has called for reformulating Arab economies policies and programmes to align with global trends. This was the message of Abdullah bin Touq Al Marri, UAE Minister of Economy when he addressed the 112th session of the Economic and Social Council of the Arab […]

Shopping Business GCC UAE

49% of UAE residents use e-commerce apps to shop online

Arnold Pinto 01/09/2023

Latest YouGov survey reveals mobile-centric revolution in progress According to the latest YouGov survey of retail shopping trends in the UAE, 49% of UAE-based shoppers use e-commerce apps as their preferred online shopping option. The study also confirms that 40% of UAE-based residents rely on social media e-shops, 36% prefer web browsers on smartphones, and […]

Finance Business

Zurich Insurance and DIFC Innovation Hub partner to empower insurtech start-up ecosystem in the Middle East

Arnold Pinto 31/08/2023

New collaboration encompasses FinTech Accelerator Programme in DIFC Zurich Insurance Group (Zurich) – the Switzerland-headquartered global multi-line insurer – has entered a strategic alliance with DIFC Innovation Hub, the top-rated fintech and innovation ecosystem in the Middle East region, to empower the latter’s FinTech Accelerator Programme. The FinTech

Business Tech

Why should businesses stand up for IP address ownership?

Arnold Pinto 30/08/2023

Number Resource Society (NRS), the Casablanca, Morocco-based non-profit organisation that focuses attention on the complexities of IP address ownership, is urging business owners globally, especially in the Middle East and Arabian Gulf region, to take a stand on the rights and control of their IP addresses. An Internet Protocol (IP) address is the unique identifying

Business Aviation

AviLease to buy Standard Chartered aviation finance leasing business

Arnold Pinto 29/08/2023

AviLease Aircraft Leasing Company, the Riyadh-headquartered aviation financing and leasing company, has agreed to acquire the global aviation finance and leasing business of Standard Chartered, which includes Dublin-based Pembroke Group, in a transaction worth AED13.24 billion ($3.6 billion). The Saudi aircraft lessor arranged AED7.7 billion ($2.1 billion) of competitive

Finance Business

e& capital grants AED18.4 million to Maxbyte Technologies

Arnold Pinto 28/08/2023

e& capital, an Abu Dhabi-based venture capital company, is leading an AED18.4 million Series A financing round of Maxbyte Technologies, an integrated digital and robotics solutions innovator, to strengthen the company’s market expansion and product development. Headquartered in Coimbatore, India, with an office in Sharjah, UAE, Maxbyte Technologies is an

Tech Business

Mastercard and Qashio in new push to digitise business payments in the MENA region

Arnold Pinto 28/08/2023

Mastercard, a global payments provider, has partnered with Qashio, a UAE-based fintech company, to launch virtual credit cards for SMEs and other businesses in the Middle East and North Africa (MENA) region, beginning with the UAE. The partnership seeks to make expense management cashless, transparent, and flexible for SMEs and other businesses in the MENA […]

Fashion Business GCC Lifestyle UAE

Tom Ford Fashion boutique reopens in the Dubai Mall

Arnold Pinto 28/08/2023

Ermenegildo Zegna Group, the authorised licensee of the Tom Ford Fashion brand, has relaunched the Tom Ford Fashion boutique in Dubai Mall, Dubai City. Reopened in partnership with UAE-headquartered Chalhoub Group, a regional retail luxury goods and jewellery holding, the newly renovated boutique is in Fashion Avenue in the world’s biggest mall and showcases the […]

Business Logistics

DP World confirms AED1.8 billion for mega-container terminal in India

Arnold Pinto 28/08/2023

DP World, a leading global transportation, logistics, supply chain, storage, and technology provider, will invest AED1.8 billion to develop a new mega-container terminal at Tuna-Tekra in Gujarat, India. Dubai-based DP World signed a Build-Operate-Transfer (BOT) agreement to this effect with the Gujarat-headquartered Deendayal Port Authority to develop, operate and maintain

Business Markets

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

Arnold Pinto 28/08/2023

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, Forex.com is part of New York-based financial services […]

Markets Business

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

Arnold Pinto 26/08/2023

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

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