Home News Archive by category Business (Page 65)

Business

Get the latest Business news from the Middle East. Stay informed on market trends, investments, and economic developments in 60 characters.

Business GCC UAE

UAE and Lithuania discuss opportunities

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.
Business

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

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

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

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

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

Red Sea Global Launches New Water Sports and Diving Brands

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

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

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

Al Tayer Motors Opens First Ford Trucks 3S Facility

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

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

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

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

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 […]
Business

Pentavirate Launches $100m Luxembourg Sukuk, Rated A-

Seattle, United States — Pentavirate, a Seattle-based global investment firm, announces the issuance of a 5-year U.S. dollar denominated Sukuk of $100 million, backed by U.S. commercial real estate. The investment has received an institutional rating of (A-) from EuroRating and is being reviewed by Amanie Advisors to secure the Islamic Fatwa. “Pentavirate’s debut
Business

Eshraq Investments reports annual profit

Abu Dhabi, UAE; 20 February 2023: Eshraq Investments PJSC (“Eshraq” or “Company”), listed on the Abu Dhabi Securities Exchange (“ADX”), announced its audited financial results for the full year 2022. The Company reported a net profit of AED 589.79 million in 2022 as compared to a net profit of AED 38.43 million for 2021. Shareholder […]