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1 December 2024 11:15 AM NIO fuels MENA expansion plans via Abu Dhabi office
UAE – Mubasher: NIO House launched its first office in Abu Dhabi, boosting its expansion across the MENA region, according to a press release. NIO, a leader in the premium smart electric vehicle market, found its home on Al Maryah Island. The …
Companies Investments
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28 November 2024 00:13 PM Lulu Retail widens operations in Saudi market via Al Fakhriyah store
Abu Dhabi – Mubasher: Lulu Retail Company has scaled up business in Saudi Arabia through the inauguration of a new Al Fakhriyah store in Dammam, according to a press release. This follows the opening of 12 new stores in the first nine months (9M) …
Companies Investments
Arif Amiri, Chief Executive Officer of DIFC Authority
28 November 2024 11:30 AM Bank of Communications expands global expansion via DIFC branch
Mubasher: China-based Bank of Communications Company Limited (BOCOM) has expanded its global reach by setting up in Dubai International Financial Centre (DIFC), according to a press release. Bank of Communications has launched its new office in …
Banking and Finance
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28 November 2024 11:04 AM GFH’s OUTLIVE to boost transformative developments across MENA
Mubasher: GFH Financial Group has launched OUTLIVE in Cityscape, which will operate across the MENA region and Europe. The innovative real estate developer is set to create mixed-use projects with a focus on health and well-being, according to a …
Global Economy
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27 November 2024 10:01 PM Omoda Jaecoo chooses UAE as Middle Eastern hub for upcoming operations
UAE – Mubasher: Automotive brand dedicated to pioneering the future of travel OMODA & JAECOO (Omoda Jaecoo) has decided to take the UAE as its Middle Eastern hub for upcoming market operations with the official launch in the UAE in January 2025. …
Companies Investments
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27 November 2024 07:06 PM ADNOC launches XRG with enterprise value exceeding $80bn, platforms to meet global demand
UAE – Mubasher: Abu Dhabi National Oil Company (ADNOC) has launched XRG to be a groundbreaking international lower-carbon energy and chemicals investment company with an enterprise value of more than $80 billion, according to an official …
Companies Investments
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27 November 2024 03:50 PM Egypt Energy launches to highlight growth in MENA’s renewables market; FIREX kicks off
Cairo – Mubasher: The 33rd edition of Egypt Energy and the fourth edition of FIREX Egypt launched as a joint new platform for innovation in the region on 26 November 2024 at the Egypt International Exhibition Center in Cairo. The MENA region's …
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27 November 2024 02:57 PM Leading UAE banks invest in LoanBook to boost loan syndication across EMEA
Dubai – Mubasher: The two listed UAE lenders Emirates NBD and Mashreq Bank unveiled their strategic investment in NewBridge Fintech Solutions, the owner of EMEA-focused LoanBook which serves as next-generation platform digitising the syndicated …
Banking and Finance
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26 November 2024 02:49 PM e& enterprise, Cloudera to drive digital transformation across Middle East
Abu Dhabi – Mubasher: e& enterprise, the digital transformation unit of e&, entered into a strategic partnership with Cloudera, the only true hybrid platform for data, analytics, and AI. The two entities aim to accelerate digital transformation by …
Companies Investments
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26 November 2024 01:58 PM Fastex expands Web3 presence in MENA with Dubai office
UAE – Mubasher: Fastex, a fast-growing cryptocurrency exchange and trading platform, has scaled up its expansion strategy in the MENA region, according to a press release. The Web3-driven solutions ecosystem inaugurated its office in the Dubai …
Global Economy
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26 November 2024 10:48 AM Eurowings expands regional presence with new routes to Saudi Arabia, Egypt
Mubasher: Eurowings, the value airline of Lufthansa Group, added new routes in its 2024/25 winter flight schedule to expand connectivity between the Middle East and Northern Africa from German cities. The airline plans to double its flights to …
Global Economy
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25 November 2024 05:02 PM MENA-focused PayTabs Egypt to transform digital investments via new partnership
Cairo – Mubasher: PayTabs Egypt, MENA’s leading payments powerhouse, announced today a strategic partnership with Azimut, Egypt's leading multinational investment manager. This collaboration will enable Azimut customers to top-up their trading …
Banking and Finance
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25 November 2024 11:00 AM UK-based Watercycle expands business to MENA via $5.6m funding round
Mubasher: UK-based climatetech Watercycle Technologies has closed a $5.60 million Series A investment round led by Par Equity, according to a press release. The funding will enable Watercycle to enter the MENA region and commercially deploy its …
Global Economy
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24 November 2024 01:31 PM Egypt’s ariika fuels expansion plans in MENA via $3m funding
Cairo – Mubasher: Egypt-based furniture e-commerce platform ariika has raised $3 million in Series A extension round led by Beltone Venture Capital and UAE-based Citadel International Holdings. The new capital is expected to fuel ariika’s local …
Global Economy
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24 November 2024 10:43 AM PIF’s Jada unveils investment in SEEDRA Ventures to back MENA’s early-stage companies
Riyadh – Mubasher: Jada Fund of Funds has invested in SEEDRA Ventures Fund II to support the growth and development of early-stage companies across diverse sectors in Saudi Arabia and the MENA region. This move aligns with Jada’s objectives to …
Companies Investments
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21 November 2024 05:10 PM Tarabut, Geidea to bolster SME financing solutions in Saudi Arabia
Mubasher: MENA’s leading open banking platform Tarabut entered into a strategic  Geidea to explore and potentially develop tailored SME financing solutions, according to a press release. SMEs currently represent 1.3 million businesses in Saudi …
Companies Investments
Wang Hu, the President and Co-Founder of PayerMax
21 November 2024 04:37 PM Saudi Arabia stood out as ideal choice for PayerMax’s regional HQ – Interview with Wang Hu
By: Ingy ElSafy Mubasher: PayerMax is well-positioned to capitalise on the opportunities in MENA, being committed to supporting the region's digital transformation and contributing to its economic growth. The company helps businesses navigate the …
Companies Investments
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21 November 2024 02:07 PM Saudi flynas expands operations in Cairo
Riyadh – Mubasher: Saudi carrier flynas has launched three weekly direct flights between Prince Muhammed bin Abdulaziz International Airport in Madinah and Sphinx Airport in Cairo. The airline increased the frequency of its flights to the Egyptian …
Global Economy
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21 November 2024 00:52 PM GCC-focused Lulu Retail posts $5.7bn revenues in 9M-24
Abu Dhabi – Mubasher: Lulu Retail Company delivered robust revenue growth in the third quarter (Q3) of 2024, reaching $1.85 billion, marking a 6.10% year-on-year (YoY) rise from $1.75 billion. The strong sales performance was driven by significant …
Financial Results
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21 November 2024 11:24 AM UAE leads Middle Eastern banking sector with $1.1trn assets
UAE – Mubasher: The UAE dominated the Middle Eastern banking sector, commanding the largest share of the region’s $3.20 trillion in banking assets.  A new report from Arthur D. Little (ADL) highlighted the UAE’s influential leadership in digital …
Banking and Finance
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21 November 2024 10:40 AM Saudi EdfaPay raises $5m pre-series A funding round to expand in MENA
Riyadh – Mubasher: Saudi leading fintech platform EdfaPay has secured a $5 million pre-Series A funding round led by OmanTel Innovation Labs, Aljabr MENA, and Waad Investment. EdfaPay will use the investment to strengthen its position in the Saudi …
Companies Investments