Impact Financial Company (Impact46), acting as fund manager for the Venture Capital InsurTech Fund and Impact Growth Fund, has successfully sold its entire stake in Rasan Information Technology Company (Rasan) through an accelerated book build offering to institutional investors.

The offering included 13,296,836 shares, representing approximately 17.16 per cent of Rasan’s issued share capital, with the final offer price set at SAR69 per share, reflecting a 4 per cent discount relative to the closing price on March 12, 2025.

The total offering size amounted to approximately SAR918m and was covered multiple times.

The transaction aligns with Impact46’s investment strategy of supporting high-growth, early-stage companies and optimising capital allocation for future opportunities.

Following the sale, Rasan is expected to benefit from increased stock liquidity and a diversified shareholder base, further positioning the company for its next phase of growth.

Strong market confidence in Rasan

Abdulaziz Alomran, founding partner and CEO of Impact46, highlighted the transaction as a milestone in the firm’s investment journey.

“For Impact46, this transaction marks the culmination of our successful partnership with Rasan as one of its earliest investors. We have supported its evolution from a motor insurance platform to a leading fintech and insurtech company. With Rasan now listed on one of the world’s largest stock exchanges, it is the right time for us to exit. This move aligns with our strategy of identifying and scaling high-growth companies while reallocating capital for future investments,” Alomran said.

He also emphasised the robust interest from both domestic and international institutional investors, underscoring Rasan’s strong market position, operational excellence, and growth prospects.

“By transitioning to a broader institutional investor base, Rasan is well-positioned to sustain its momentum and create long-term value for shareholders, further contributing to Saudi Arabia’s economic transformation in alignment with Vision 2030,” Alomran added.

Impact46’s track record of successful exits

The transaction marks another fully realised investment for Impact46 in Saudi Arabia, following previous successful exits from companies such as Jahez, Tamara, and Lendo.

The firm continues to demonstrate leadership in venture capital and private equity, reinforcing its role in scaling high-growth companies and strengthening the Kingdom’s investment landscape.

A number of airlines have announced a ban on carrying power banks onboard since the beginning of this year.

The most recent being Singapore Airlines, which has joined the list of airlines that have now banned power banks from being used and charged onboard, an Executive Traveller report said.

Singapore Airlines conveyed that from 1 April 2025, passengers on Singapore Airlines will neither be allowed to charge portable power banks on the USB ports onboard, nor use them to charge their personal devices throughout the duration of the flight.

Thailand’s state-owned national carrier, Thai Airways International, also announced a ban on the use of power banks onboard. The rule is to come into effect on 15 March, a malay mail report conveyed.

SKorea’s new lithium battery rules on planes highlight growing risk for aviation

South Korea had also on March 1, tightened rules on carrying lithium batteries on planes, highlighting a growing risk to flights worldwide from the batteries used in cellphones and e-cigarettes which can malfunction to produce smoke, fire or extreme heat.

Last year three incidents a fortnight of overheating lithium batteries on planes were recorded globally by the US Federal Aviation Administration, compared to just under one a week in 2018.

Aviation has long recognised the increasingly used batteries as a safety concern, and rules are periodically tightened in response to accidents.

From Saturday, passengers on South Korean airlines should keep power banks and e-cigarettes on their person and not in overhead cabin bins. Devices should not be charged on board, and battery quantity and strength limits will be enforced.

Passengers will be permitted to carry up to five 100-watt-hour portable batteries, while batteries over 160-watt-hours won’t be allowed on board. The batteries will also need to be stored in clear plastic bags, according to the transport ministry.

South Korean travellers flying out of Incheon International Airport, the country’s largest airport, told Reuters that they were “relieved” by the new rules.

“I feel safe since we have new guidelines that can protect us. I was also advised to carry (these batteries) with me when I’m on board, that makes me feel relieved that we can find out immediately when something happens,” said 37-year-old Kim Jae-woung.

Korean authorities said the measures were in response to public anxiety about fires after an Air Busan plane was consumed in flames in January while waiting to take off.

Investigators have not yet determined the cause of the fire, but a preliminary investigation statement on Thursday said it started in a cabin overhead locker after boarding.

All 170 passengers and six crew were evacuated before the aircraft was destroyed. The fire was detected around 20 minutes after the delayed flight had originally been scheduled to depart.

“Existing cabin crew firefighting procedures have been demonstrated to be effective for all (lithium battery) incidents which have occurred in-flight. However if such an incident occurs while on the ground, the safest option is to evacuate the aircraft,” a spokesperson for the International Air Transport Association said.

Cabin crew are trained to put out flames with extinguishers, cool the battery with liquid, and isolate the device in fire containment pouches or boxes.

Hundreds on each plane

Lithium metal and lithium-ion batteries are types of non-rechargeable and rechargeable batteries found in devices such as laptops, mobile phones, tablets, watches, power banks and electronic cigarettes.

Passengers on a full flight could be carrying hundreds between them.

Manufacturing faults or damage, such as a phone being crushed in the gap between plane seats or exposed to extreme temperatures, can cause them to short circuit and rapidly overheat.

Heat, smoke and fire can result, and they can even explode in a “high-energy expulsion of extremely hot gel and parts of the device acting as shrapnel”, the Flight Safety Foundation says.

Current aviation standards say power banks and personal electronic devices should travel in the cabin, not in checked luggage, so any malfunction can be tackled.

A December 2024 research report by the European Union Aviation Safety Agency (EASA) found that “non-compliant lithium batteries persistently travel in hold baggage”, and that hold baggage screening need to be improved.

The industry is exploring new detection methods, including the use of scent detection dogs.

As business education undergoes a profound transformation, institutions worldwide adapt to meet the evolving needs of executives and professionals in an increasingly digital and interconnected world.

In this interview with Gulf Business, Graham Hastie, associate dean of Degree Education at London Business School (LBS), discusses how innovation reshapes traditional business education, the future of hybrid learning, and the importance of lifelong learning for mid-career professionals.

He also shares insights on how LBS ensures a global yet locally relevant perspective in its programs and offers advice to executives preparing for leadership in an AI-driven future.

How do you see innovation transforming traditional business education, and why is this shift happening now?

This is a new era for business education. A generation shaped by smart working and smart tech now wants to study in a smarter way too. There is growing demand for flexible programme formats and stackable qualifications and the sector is responding accordingly.

At LBS, for example, we developed our One-year MBA in response to the specific demand from Masters in Management graduates looking for a one-year programme that is delivered in a way that is complementary to our flagship two-year MBA while maintaining the quality of the world-class learning experience we offer.

We announced last month that we will also now offer our prestigious, international Executive MBA (EMBA) from London or Dubai in person or through blended learning. Both options reduce the number of days executives need to spend out of the office and provide an opportunity to complete the programme in 17 months. The in-person format starts in September, with 80 per cent in-person classes and 20 per cent self-paced learning.

The blended format starts in January, with 40 per cent in-person classes, 40 per cent live online sessions, and 20 per cent self-paced learning.

What role do smart technologies play in reshaping the way business schools deliver education to students worldwide?

Business executives lead demanding and busy lives. Time committed out of the office, or away from family and friends, is a major investment for these executives. Smart technology provides a different way to learn more flexibly.

Offering our world-class EMBA in two different locations and two different formats means our executive students can choose not just where they study, but how they study – in the way that best meets their needs and helps them to balance work and life.

On a practical level, generative AI means that students taking our Masters in Analytics and Management programme, for example, have benefitted from the introduction of more complex analysis, which has replaced some of the simpler coding assignments.

We also use AI for a number of our services in Careers: Vmock for CV reviews; Attensi for interview prep, and MConsultingPrep for case study practice. In all instances, they enable greater customisation, volume and convenience for the student. Plus, we have a comprehensive offer of digital learning resources, including sector insights and interactive skills modules, so students can access support 24/7. We use platforms like Exponent and Opportunify to help students with specific needs, like preparing for technical interviews or sourcing employment leads.

LBS research examines the implications of AI for business, translating cutting-edge academic research into practical tools and strategies to help organisations thrive in an AI-driven world. And skills such as human-AI collaboration, ethical decision-making, and strategic thinking in AI-enabled environments, will be integrated into our curricula through the LBS AI Initiative. For leaders navigating a rapidly changing world, lifelong learning is more than just an advantage – it is a necessity.

Do you think hybrid education is the future for business schools globally? How are blended learning models helping mid-career professionals balance work, personal commitments, and education?

Time committed to study equates to time out of the office, or away from family and friends. Because business executives lead such busy, demanding lives, offering choices about not just where people study, but how they study helps to meet students’ needs and helps them to balance work and life.

Business schools must invest in innovative approaches to teaching and learning. We must expand our experiential and our blende, learning and invest in developing flexible and stackable degrees.

How does London Business School ensure that its programmes provide both a global perspective and local relevance to students?

London Business School prides itself on its world-class faculty expertise and the global diversity of its student population and alumni community. Students representing over 110 countries and a wide range of industries have the chance to collaborate in a dynamic, cross-cultural environment. Students are put into internationally diverse streams and study groups, allowing them to bring their local knowledge and benefit from invaluable peer-to-peer learning.

The school also runs Global Experience programmes and London-based experiential learning projects, which provide students with practical hands-on experience of helping to solve local and global business issues.

Plus, our curriculum focuses on current, real-world business challenges.

What role does lifelong learning play in addressing the skills gap, especially for mid-career professionals? In the Middle East specifically, what unique skills gaps do you observe, and how can regional institutions or global schools like London Business School address them?

Today’s leaders are faced with an unprecedented level of social, environmental, technological and economic challenges that require them to be able to think with a global mindset and act on a global scale. The pace of change is such that what was known yesterday will not be what is known 10, 20 or 30 years down the line. That means that business professionals need to continually update their knowledge whether they are based in the Middle East or elsewhere. Lifelong learning is not just a nice to have, it’s an essential part of any business executive’s toolkit.

At LBS we support this in numerous ways, such as through educational alumni events or LBS Online, which allows people to upskill through high-quality education accessible to professionals anywhere in the world.

In your experience, what are the key trends in higher education that universities need to adopt to stay competitive?

We are seeing a move to more online learning and greater use of generative AI and this is a trend that I expect to continue. Whatever the format in which business education is delivered, quality and relevance will also be the essential ingredients that education providers need to offer to remain competitive.

What advice would you give to executives looking to enhance their skills and prepare for leadership in the digital future?

AI, automation and digital transformation are having a transformative impact on society and the world of work.

Technological advancements will continue to proliferate and the world needs leaders who have the skills, knowledge and vision to harness the opportunities that technology offers.

Abu Dhabi-backed investment group MGX has made a $2bn cryptocurrency investment in Binance, the companies said on Wednesday (March 12), deepening ties between the world’s largest crypto exchange and the United Arab Emirates.

The deal, which Binance called its first institutional investment, is one of the largest ever in the crypto industry. It will see MGX become a minority shareholder after making the investment in stablecoin – a type of cryptocurrency pegged to a fiat currency such as the dollar.

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A Binance spokesperson declined to comment on “the agreed governance rights” or the size of MGX’s stake, or on which stablecoin was used for the investment.

MGX also declined to comment.

Binance, founded in 2017 in China by billionaire Changpeng Zhao, grew into the world’s biggest crypto exchange after tapping into soaring demand for trading bitcoin and other cryptocurrencies.

The exchange has been growing its links with the UAE under CZ’s successor Richard Teng, who was previously head of Abu Dhabi’s Financial Services Authority.

Binance: The entity’s footprint in UAE

Binance said in Wednesday’s announcement it had a “substantial footprint” in the UAE, employing around 1,000 of its 5,000 total staff there.

The investment in Binance is the first public foray into crypto by MGX, which was established almost exactly a year ago “to accelerate the development and adoption of AI and advanced technologies” through partnerships, it said at the time.

The UAE is aiming to become a global centre for digital assets including crypto and has been trying to attract some of the biggest firms to build locally as part of a plan to diversify its economy.

“MGX’s investment in Binance reflects our commitment to advancing blockchain’s transformative potential for digital finance,” said Ahmed Yahia, managing director and CEO of MGX, in the statement. Blockchain is the technology underpinning cryptocurrencies.

MGX has also invested in OpenAI and Elon Musk’s xAI. Abu Dhabi’s state-owned $330 billion wealth fund Mubadala is also a partner in MGX.

The crypto industry has enjoyed a revival in the past year, a turnaround after a series of collapses and scandals in 2022 revealed widespread misconduct and left investors with large losses. The biggest cryptocurrency bitcoin hit new all-time highs following the election of US President Donald Trump, who has taken a pro-crypto stance.

“This investment by MGX is a significant milestone for the crypto industry and for Binance. Together, we are shaping the future of digital finance,” Teng said.

Major companies such as Amazon and Google on Wednesday signed a pledge to support the goal of at least tripling the world’s nuclear energy capacity by 2050, on the sidelines of the CERAWeek conference in Houston.

Shale company Occidental and Japanese heavy machinery maker IHI Corp also added their names to the pledge.

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The pledge is expected to gain more support over the coming months from industries including maritime, aviation and oil and gas, said the World Nuclear Association (WNA), the nuclear industry group that facilitated the pledge, in a press release.

The pledge adds on to the vow from over 30 countries, which also aimed to triple capacity by 2050 in 2023.

Nuclear energy, a source of clean power, generates 9 per cent of the world’s electricity from 439 power reactors, according to WNA.

As of early 2025, the world has only around 411 nuclear power reactors operating, with a combined capacity of 371 gigawatts.