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22 December 2024 11:48 AM Hikma acquires portfolio of Takeda brands for MENA region
Mubasher: Hikma Pharmaceuticals has agreed with Takeda Pharmaceuticals International AG to develop a portfolio of products in the MENA region. The multinational pharmaceutical group plans to acquire the rights to 17 brands licensed to Hikma for …
Companies Investments
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22 December 2024 10:54 AM CBE offers EGP 55bn T-bills on Sunday
Cairo - Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) at a combined value of EGP 55 billion in two auctions on Sunday, 22 December 2024. The first offering stood at EGP 25 billion and will mature in 91 days on 25 March …
Treasury Bills
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22 December 2024 10:12 AM MENA-focused Paymob strengthens Apple Pay service in Egypt
Cairo – Mubasher: Paymob, the leading financial services enabler in the MENA region, has enabled its merchant network to accept Apple Pay in Egypt, according to a press release. Paymob will allow its consumers to use their Apple devices to …
Global Economy
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19 December 2024 07:35 PM Beltone’s unit inks EGP 350m agreement with SEKEM Group
Cairo – Mubasher: Beltone Leasing and Factoring, a subsidiary of Beltone Holding, has inked a joint agreement with SEKEM Group valued at EGP 350 million. This partnership involves the sale and leaseback of real estate assets to finance SEKEM …
Companies Investments
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19 December 2024 07:24 PM Aqua Development joins ADQ for shrimp farming facility, plans regional expansion
UAE – Mubasher: South Korean aquaculture startup Aqua Development has teamed up with ADQ, an active global sovereign investor with a focus on critical infrastructure and supply chains, to explore the feasibility of land-based shrimp farming in the …
Global Economy
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19 December 2024 06:55 PM Infobip boosts existing MENA presence with platform in Qatar
Mubasher: Global cloud communications firm Infobip supports Qatar’s digital transformation with a locally hosted platform, leveraging Microsoft Azure Cloud infrastructure, according to a press release. This strategic move aims to empower Qatari …
Global Economy
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19 December 2024 06:11 PM GCC airport market seen to grow at 9.5% CAGR during 2024 to 2032 – Abra
Mubasher: The flourishing tourism industry in the GCC region, which boosts footfall in airports and other duty-free zones, is propelling the market growth forecast at a 9.5% compound annual growth rate (CAGR) during 2024 to 2032, according to …
Global Economy
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19 December 2024 05:05 PM Canadian ROSA eSolutions enters UAE, aims to drive customer engagement in Middle East
Mubasher: The Canadian fast-growing digital marketing consultancy ROSA eSolutions unveiled its entry into the UAE market. The firm aims to leverage its expertise to drive authentic growth and foster meaningful customer engagement for businesses in …
Companies Investments
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19 December 2024 03:57 PM Wizz Air Abu Dhabi enhances global travel experience with new route to Romania
UAE – Mubasher: Wizz Air Abu Dhabi, the ultra-low-fare national airline of the UAE, announces that from 30 March 2025, its Bucharest flights will be relocated from Bucharest Henri Coanda International Airport to the centrally located Bucharest …
Companies Investments
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19 December 2024 07:34 AM AD Ports, Hassan Allam to develop 1st internationally operated port terminal in Upper Egypt
Abu Dhabi – Mubasher: AD Ports Group has appointed Hassan Allam Construction, Hassan Allam Holding’s flagship subsidiary and one of the leading contractors in the MENA region, to build the infrastructure of Noatum Ports - Safaga Terminal on …
Companies Investments
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19 December 2024 07:26 AM FAAD Capital announces 1st global expansion via Dubai launch
UAE – Mubasher: FAAD Capital, a SEBI-registered Category 1 Angel Fund headquartered in Gurgaon, has launched its investor network in Dubai, marking the fund’s first international expansion. The expansion aligns with FAAD’s commitment to backing …
Companies Investments
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19 December 2024 07:16 AM Egypt Economic Summit’s 4th edition to kick off in January 2025
Cairo – Mubasher: The fourth edition of the Egypt Economic Summit is set to take place on 14 January 2025 under the theme of “Egypt's Economic Vision: Towards Leadership and Global Competitiveness. This event will provide a strategic platform to …
Global Economy
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19 December 2024 07:08 AM Al Rajhi Bank unveils partnership to enhance travel experiences globally
Riyadh – Mubasher: Al Rajhi Bank and Marriott Bonvoy have joined forces with Visa and launched the Marriott Bonvoy Alrajhi bank Credit Card in Saudi Arabia, according to a press release. The new cobrand credit card provides citizens and residents …
Global Economy
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18 December 2024 09:01 PM IHG Hotels unveils 1st voco hotel in Jeddah; property to attract business, leisure travellers
Riyadh – Mubasher: InterContinental Hotels Group (IHG Hotels & Resorts) opened its first voco hotel in Jeddah as part of its premium portfolio to be perfectly situated for both business and leisure travellers, according to a press release. Located …
Global Economy
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18 December 2024 08:50 PM Sorouh, Hilton to bring Waldorf Astoria’s iconic hospitality to region – Alshaya
Mubasher: Hilton and Al Sorouh Hospitality Development Real Estate announced the signing of Waldorf Astoria Bahrain Bay in the heart of Manama, marking the brand’s debut in Bahrain, according to a press release. The landmark signing will bring …
Global Economy
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18 December 2024 08:33 PM Global M&A market rebounds with 15% surge in 2024; Middle East spearheads with 88% jump – Report
Mubasher: The 2024 merger and acquisition (M&A) market is ending the year much as it began—with anticipation for a break in the buyer-seller logjam, according to a report by Bain & Company. The year has been marked by careful adaption as …
Global Economy
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18 December 2024 05:04 PM Majid Al Futtaim to expand Supeco’s network in Egypt; new store inaugurated
Mubasher: Majid Al Futtaim has inaugurated its latest Supeco store in Egypt with investments exceeding EGP 36 million, according to a recent press release. The new store, the first in the Fayoum Governorate, offers 3,500 products, including fresh, …
Companies Investments
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18 December 2024 11:10 AM SVC backs tech companies across GCC via investment in MEVP’s $150m fund
Riyadh – Mubasher: Saudi Venture Capital (SVC) has committed an investment in MEVP’s $150 million fund for an undisclosed value, according to a press release. Middle East Venture Fund IV, which is backed by the European Investment Bank (EIB), will …
Global Economy
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18 December 2024 09:59 AM Klickl secures $25m funding to expand in MENA
UAE – Mubasher: UAE-based Web3 banking startup Klickl has closed a $25 million Series A funding round at a valuation of $125 million, according to a press release. Klickl will use the funding to accelerate growth and expand its Web3 banking …
Companies Investments
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17 December 2024 08:55 PM 7X teams up with SC Ventures to empower SMEs in MENA
UAE – Mubasher: 7X, the trade, transport, and logistics investment and holding group, signed a memorandum of understanding (MoU) with SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, during Abu Dhabi Finance Week. …
Event
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17 December 2024 08:31 PM DMCC Crypto Centre launches Metaverse with global market likely to cross $3.1trn by 2030
UAE – Mubasher: Leading international business district that drives the flow of global trade through Dubai DMCC has announced the launch of the DMCC Crypto Centre Metaverse, according to a press release. Representing a landmark application of the …
Trade
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17 December 2024 08:19 PM Revibe secures $7m investment to cement position in MENA’s refurbished tech sector
UAE – Mubasher: Revibe, the UAE-founded leader in guarantee-backed refurbished tech, has marked another milestone in less than two years since its launch after recently closing its Series A of $7 million in a round co-led by ISAI and Resonance, …
Companies Investments
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17 December 2024 06:59 PM Leading UAE banks, international entities among arrangers for VakıfBank’s $870m equivalent facilities
UAE – Mubasher: Türkiye Vakıflar Bankası T.A.O. (VakifBank), the second largest bank in Türkiye in terms of asset size since YE2020, is pleased to announce the successful signing of its 367-day $518.50 million and EUR 331.40 million Sustainable …
Global Economy
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17 December 2024 06:42 PM Tourism would remain bright spot for region’s economies; consumer spending in Saudi Arabia seen 4.5% higher in 2025 – Report
Riyadh – Mubasher: The Mastercard Economics Institute released ‘Economic Outlook 2025’, its annual report identifying the themes that will shape next year’s economic landscape. The global economy has managed through a series of shocks admirably …
Global Economy
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17 December 2024 05:20 PM Saudi Entertainment Ventures of PIF-owned Qiddiya reveals SAR 1.3bn project for world-class services
Riyadh – Mubasher: Saudi Entertainment Ventures (SEVEN), part of Qiddiya Investment Company (QIC), a wholly owned Public Investment Fund (PIF) entity, has announced its latest entertainment destination in the Jazan region with an investment of SAR …
Companies Investments