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AG Café has announced plans to open 110 more branches of Tim Hortons in Saudi Arabia by 2024, taking the total number of stores across the country to 200, Zawya reports. The company runs 190 stores, in total across the Read more
The sultanate of Oman is planning to build a “metro” that will serve its capital Muscat and tackle road traffic jams due to a rapid rise in its population, Zawya notes citing a government official. Ibrahim Al-Waeli, Director of strategic Read more
Cairo-based investment bank EFG Hermes has appointed Goldman Sachs to advise on First Abu Dhabi Bank’s (FAB) offer to acquire a majority stake, the bank has said in a statement. The board of Egypt’s largest investment bank also said it Read more
Dar Al Arkan, one of the leading real estate developers in Saudi Arabia, has entered the Chinese market as it opens an office in capital Beijing, reports say. The office, according to the firm, will help serve multiple functions to Read more
Saudi Fund for Development, SFD, has signed three deals with Oman to finance several projects worth around $244 million, Zawya reports citing the Saudi Press Agency (SPA). Signed with the Omani Ministry of Finance, memorandums of understanding (MoU), aim at Read more
Oman-based International Emerging Technologies Co. signed an agreement with the US-based Virgin Orbit to prepare satellite launch platforms in the Gulf country, Arab News reports. Per the agreement, the establishment of satellites in low Earth orbit will be studied to Read more
The Sultanate of Oman is in talks with regional banks to refinance a $2.2 billion loan it took out early last year, seeking to increase its size to between $3 billion and $4 billion, Market Screener reports citing two sources Read more
IHC Food Holding, a subsidiary of International Holding Company (IHC), has acquired 75 per cent of Abu Dhabi Vegetable Oil Company (ADVOC), IHC has announced, Zawya reports. The conglomerate did not provide details on the operation but indicated that the Read more
Oman will stage its first Initial Public Offering (IPO) in three years with Barka Desalination Company (BDC), owner of Oman’s largest operating water desalination plant Barka IWP getting ready to sell 40 per cent of its shares. The 40 per Read more
Energy Development Oman, the sultanate’s government-controlled energy company has appointed Mazin Rashid Lamki as CEO, Arab News reports. The company in a Tweeter statement said Rashid will assume office in the first quarter of next year. The new CEO has Read more