Abu Dhabi-based investment firm 2PointZero Group said it has completed the acquisition of a 60.8 per cent stake in Italy’s ISEM Packaging Group for Dhs704m ($192m), expanding into the global packaging sector.

The deal was completed through a combination of primary and secondary capital, the company said. Private equity firm Peninsula Capital and other minority investors will retain the remaining 39.2 per cent stake in the business.

The acquisition marks 2PointZero’s entry into packaging as its sixth consumer-focused vertical and complements its existing investments in sectors such as beauty and apparel.

ISEM, founded in 1949 and headquartered in Bologna, produces packaging products including rigid boxes, folding cases, silk paper and dust bags for global luxury and cosmetics brands such as LVMH, Gucci, L’Oréal and Coty.

The company operates 11 manufacturing plants with a combined industrial footprint of more than 100,000 square metres.

2PointZero Group’s CEO says the company plans to support ISEM’s international expansion

“The completion of this transaction marks an important step in advancing our global growth ambitions and establishing a scalable platform in the packaging industry,” said Samia Bouazza, chief executive of 2PointZero Group.

Bouazza said the company plans to support ISEM’s international expansion and deploy artificial intelligence and digital technologies across the business to improve operations.

Borja Prado, founding partner at Peninsula Capital, said the investment would provide ISEM with capital and global reach to accelerate growth.

“This investment will provide ISEM with the capital, global reach and strategic support to further accelerate its expansion,” Prado said.

Francesco Pintucci, chief executive of ISEM Packaging Group, said the deal would allow the company to expand while maintaining its focus on craftsmanship and relationships with luxury clients.

“With 2PointZero and Peninsula, ISEM has the platform to take that offer global,” he said.

Law firm Hogan Lovells advised both 2PointZero and Peninsula Capital on the transaction, while Legance and Van Campen Liem advised Peninsula Capital on structuring and reinvestment matters. Gatti Pavesi Bianchi Ludovici and Herbert Smith Freehills advised on the sell-side.

Read: UAE’s 2PointZero unit acquires stake in US wearable tech firm Whoop

French IT services company Atos reported full-year revenue slightly above 8 billion euros ($9.3bn) on Friday, meeting its target and reflecting progress in its turnaround following significant financial restructuring.

The company slashed its headcount by 19 per cent to 63,193 employees as part of its “Genesis” restructuring programme aimed at restoring profitability after years of turmoil.

Revenue in the core Atos business unit declined 16.2 per cent organically to 6.96 billion euros despite winning a notable cybersecurity contract with the European Commission during the year.

Sales in the Eviden division grew 6.7 per cent to 1.04 billion euros, driven by the delivery of the Jupiter supercomputer in Germany.

Atos had a backlog of 10.7 billion euros at the end of December, representing 1.3 years of revenue, signalling a solid pipeline of contracted work that underpins its confidence in the recovery path.

Atos expects 2026 to be a “year of stabilisation” with a target of positive organic revenue growth, and potential downside limited to a 5 per cent decline in a challenging market. It expects to accelerate growth in 2027-2028, aiming for 5-7 per cent annual revenue growth and a 10 per cent operating margin by 2028.

Atos also aims to reduce its leverage ratio to net debt less than 1.5 times its operating income by 2028, as it pursues an investment-grade credit rating.

India’s Central Board of Secondary Education (CBSE) has cancelled Class 10 board examinations for students studying in CBSE-affiliated schools across the UAE and several Gulf countries, following a review of the evolving regional situation.

The decision applies to CBSE schools in the UAE, Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and Iran. Examinations that had been scheduled between March 7 and March 11, 2026, have been cancelled, while earlier papers that were already postponed on March 2, March 5 and March 6 have also been formally scrapped.

In an official communication to school principals in the region, the board said the move was taken in light of ongoing regional developments and concerns about student safety. The board added that the method for declaring Class 10 results for affected students will be announced at a later stage.

The disruption affects thousands of Indian expatriate students enrolled in CBSE-affiliated schools across the Gulf. The CBSE system is one of the most widely followed curricula in the region, particularly in the UAE where Indian community schools form a significant share of the private education sector.

Alongside the Class 10 decision, CBSE also confirmed that the Class 12 examination scheduled for March 7 has been postponed, with revised dates to be announced later. Students preparing for the remaining Class 12 papers have been advised to remain in close contact with their schools and monitor official CBSE notifications for further updates.

The announcement comes after several exam papers earlier in the week were first postponed as authorities assessed the situation across parts of the Middle East. Education authorities and schools across the Gulf are now adjusting academic schedules and assessment plans while awaiting further guidance from the Indian board

Saudi Arabia’s main stock index closed higher on the day, rising 83.63 points to end trading at 10,776.32. Total market turnover reached SAR5.2bn.

The Saudi Parallel Market Index (Nomu) also recorded gains, climbing 114.45 points to close at 22,496.98. Trading on Nomu amounted to SAR17m, with more than 2.3 million shares changing hands, Saudi Press Agency reported.

However, UAE equities fell further. Dubai’s main ⁠share index closed 1.3 per cent lower, while Abu Dhabi’s index ⁠fell 2.2 per cent.

Stocks in Dubai and Abu Dhabi tumbled on Wednesday as markets reopened after a two-day halt following Iran’s unprecedented wave of missile and drone attacks on the Gulf nation on Sunday.

Dubai-based Al Khaleej Sugar, owner of the ⁠world’s largest port-based sugar refinery, is operating normally and is still open for import and export, the company’s managing director, ⁠Jamal Al-Ghurair, told Reuters on Thursday.

The comments came as the US-Israeli war with Iran entered its sixth day, with vessel traffic through the critical Strait of Hormuz remaining all but halted.

Al Khaleej is heavily dependent on the Strait for its roughly 1.6 million metric tonnes of annual raw sugar imports and for the 1.3 million tons or so of refined sugar that it exports annually.

Al-Ghurair, however, said that the company can, if needed, use the ports of Fujairah, Khorfakan and Sohar, which lie outside the Strait, to import and export sugar.

The company’s global customers understand the current situation and are working on it with shipping companies, he added.

Al Khaleej Sugar has around two years of raw sugar reserves if they are not refined and exported outside the Gulf region, Al-Ghurair said, adding that the company can provide neighbouring countries with sugar if needed.

Gulf states are facing their biggest food security challenge since the 2007/08 global food crisis – when international prices of staple foods soared – as the region imports 80 per cent-90 per cent of its food.

The United Arab Emirates says its strategic reserves of vital goods can cover four to six months of needs, and has urged residents to report any unjustified price increases through a dedicated hotline. Supermarket staff told Reuters that shelves remain largely stocked, though suppliers are taking longer to replenish certain products.

According to sugar consultant Michael McDougall, the Gulf imports roughly 10 per cent of the world’s raw sugar through the Strait of Hormuz each year, while exporting about 5 per cent of global refined sugar through the chokepoint.

“The longer there is a blockade the worse the problem will get, (but) the refineries still have some stock,” he said.

Al Khaleej accounts for nearly 4 per cent of the world’s annual imports of raw sugar and more than 4 per cent of global refined sugar exports, according to Reuters calculations based on data from the International Sugar Organization.