Abu Dhabi-based Goldilocks Investment Company has said it acquired 29.49 per cent of insurer Takaful Emarat. The company did not disclose the amount of the deal but said it would help the firm take advantage of “strong market dynamics” and growth opportunities. “Goldilocks believes that the insurance sector is poised for considerable growth, driven by […]
The European Bank for Reconstruction & Development (EBRD) has announced a $4 million loan to the Microfund for Women (MFW) in Jordan. The funds will enable MFW to increase access to finance for women-led businesses, especially those from disadvantaged communities. This will contribute to greater financial inclusion and job opportunities. Access to finance through banks […]
Some 5.6 million Syrians need help outside the war-torn country and one million of them are children born in exile, UN agencies and partners said on Tuesday, in an appeal for $5.5 billion to cover humanitarian needs for 2019. Since conflict erupted in Syria in 2011, host communities in neighboring countries have supported those who […]
Tim Draper, one of US and global venture capitalists has signed a Memorandum of Understanding (MoU) with the Saudi Venture Capital Company for the establishment of a joint capital investment fund. The future fund will be used to finance SMEs in the fields of health, education, agriculture, finance, and energy, Trade Arabia reports. Draper, considered […]
Raysut Cement Company has come forward to acquire struggling ARM Cement Ltd of Kenya as the Omani clinker company embarks on its expansion strategy in eastern part and in the horn of Africa. Raysut is in competition with Dangote Cement Plc, Africa’s biggest producer, to acquire ARM, which is looking for $140 million to pay […]
France’s leading groups, CMA CGM, EDF Renewables, FIVES and SUEZ have announced plans to pump investment in the Oman’s Duqm Special Economic Zone, in many sectors including cement, renewable energy and alternative fuel. The four groups will form a French Business syndicate with the aim of assessing various investment possibilities, Arabia Business reports. The likely […]
Saudi Electricity Company (SEC), the largest electricity company in the Arab world, inked Thursday a deal for a $2.15-billion revolving credit facility with eight international financial institutions that have agreed to support the utility company expand its public work. The credit will be granted by Abu Dhabi First Bank, Mizuho Bank, MUFG Bank, Standard Chartered […]
Russia’s largest leasing company GTLK has recently opened its third overseas office in Dubai to serve the Middle East and Africa. Controlled by the Russian government represented by the ministry of transport, GTLK leases air, water and rail transport, automotive and special equipment for domestic enterprises of the transport industry, as well as invests in […]
Morocco is moving on a fast track development after joining the high-speed rail club. This achievement gives the country more confidence and all the motivations to look with pride and upbeat to the future. On Saturday, King Mohammed VI launched major railway projects, two days after the inauguration of the high-speed rail line connecting the […]
Dubai Holding is on the verge of acquiring minority equities in Azadea Group based in Beirut, Lebanon and which operates Zara clothing and Virgin Megastore chains in the Middle East, Bloomberg reports citing sources who were not allowed to speak on the matter. According to the sources, the initial transaction took place last week and […]