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GOSI, Tabby partner to expand financial inclusion in Saudi Arabia

Through this partnership, GOSI and Tabby will work together to design and deliver Shariah-compliant credit solutions

Neesha Salian
Neesha Salian

17 September, 2025

GOSI, Tabby partner to expand financial inclusion in Saudi Arabia
Image: Tabby/ For illustrative purposes

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Saudi Arabia’s General Organization for Social Insurance (GOSI), the kingdom’s largest public pension fund, has signed a memorandum of understanding with Riyadh-based financial services app Tabby to widen access to credit for millions of beneficiaries.

The agreement will see the two organisations design and deliver Shariah-compliant credit products aimed at pensioners and other beneficiaries who are often underserved by traditional lenders. The move is part of GOSI’s Taqdeer programme, which promotes financial inclusion and digital financial services in line with Saudi Arabia’s economic transformation agenda.

“Our role extends beyond providing pensions — it is about ensuring that our beneficiaries have access to tools that can improve their financial well-being,” said Saud Al-Juhani, GOSI’s assistant governor for insurance affairs. “This MoU with Tabby is a step toward widening that access with solutions that are both inclusive and responsible.”

Tabby offers flexible payment solutions to more than 20 million users

Tabby, which operates in Saudi Arabia, the UAE and Kuwait, offers flexible payment solutions to more than 20 million users and works with over 40,000 merchants including Amazon, Adidas, IKEA and Noon.

Hosam Arab, Tabby’s co-founder and chief executive, said the partnership would expand Shariah-compliant credit options “for millions of people, adding to a more inclusive financial system in Saudi Arabia.”

The two sides said any products developed under the partnership would comply with transparency and consumer protection standards.

GOSI provides social protection and insurance coverage for Saudi citizens, public and private sector employees, as well as GCC nationals working in the kingdom.

GE Vernova completes first outage on HA gas turbines in Pakistan

GE Vernova’s engineers executed the outage at Haveli Bahadur Shah and Balloki power plants in Punjab, Pakistan

Gulf Business
Gulf Business

17 September, 2025

GE Vernova completes first outage on HA gas turbines in Pakistan
Image: Supplied

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GE Vernova has completed the first outage on its HA gas turbine technology in the Middle East and South Asia at two power plants in Pakistan.

The company’s engineers carried out the work at the Haveli Bahadur Shah and Balloki plants, operated by National Power Parks Management Company (NPPMCL).

The Bhikki plant is expected to undergo inspection in 2026.

“Like cars, the average gas turbine needs periodic inspections to maintain its performance,” said NPPMCL chief executive Akram Kamal. “This project, executed by GE Vernova in record time, enabled us to continue to deliver electricity reliably, while significantly enhancing the stability of the electrical grid and reducing risks of blackouts in the country.”

The plants, which began full operations in 2018, together generate up to 3.6 gigawatts, enough to supply 7.5 million homes, according to GE Vernova.

GE Vernova says project to serve as model for other markets

Joseph Anis, president and CEO of GE Vernova’s Gas Power business in Europe, Middle East and Africa, said the project in Pakistan would serve as a model as similar turbines in the UAE, Bahrain and Saudi Arabia approach their first outages.

Each outage in Pakistan required about 200 people working over four months, with thousands of hours logged without incident, the company said.

GE Vernova has operated in Pakistan since the 1960s and said it would continue to support the country’s transition towards 60 per cent renewables and 30 per cent electric vehicles by 2030.

Read: GE Vernova boosts Saudi energy initiatives with new investments, alliances

Transcorp CEO on building resilient GCC logistics networks

With 30 per cent of global trade passing through the Red Sea and Gulf of Aden, security concerns and chokepoints remain front of mind for regional operators

Rajiv Pillai
Rajiv Pillai

17 September, 2025

Transcorp CEO on building resilient GCC logistics networks
Rodrigue Nacouzi, CEO of Transcorp International/Image: Supplied

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Global trade faces unprecedented pressures, from chokepoints in the Red Sea to shifting economic alliances; regional logistics players are being forced to adapt at speed. Rodrigue Nacouzi, CEO of Transcorp International, believes resilience, sustainability, and technology adoption will define the sector’s next decade.

Speaking exclusively with Gulf Business, Nacouzi outlined how Transcorp is navigating vulnerabilities in critical trade routes, leveraging AI-powered forecasting to improve efficiency, and responding to the UAE–India Comprehensive Economic Partnership Agreement (CEPA). He also shared his insights on what it will take for logistics players across the GCC to future-proof their operations.

Securing critical trade routes

With 30 per cent of global trade passing through the Red Sea and Gulf of Aden, security concerns and chokepoints remain front of mind for regional operators. For Nacouzi, mitigating these risks requires agility and data-driven resilience.

“We recognise the strategic importance of the Red Sea and Gulf of Aden, with both routes serving as crucial arteries for global trade,” he said. “To mitigate the vulnerabilities along these routes, regional players should focus on building a resilient, data-driven logistics network.”

For Transcorp, this means deploying dynamic AI-powered route optimisation that accounts for geopolitical risks, traffic disruptions, and seasonal fluctuations. Predictive analytics allow the company to foresee potential disruptions and adjust routes to avoid chokepoints, while multiple regional hubs and alternative shipping corridors provide flexibility.

“It is essential to invest in the agility of logistics operations,” Nacouzi added. “Expanding digital solutions like real-time tracking and AI-powered forecasting allows for continuous monitoring and rapid response to disruptions. Blockchain also has the potential to ensure transparency and secure real-time data sharing across the entire supply chain.”

CEPA and cold-chain growth

The UAE–India Comprehensive Economic Partnership Agreement (CEPA) is reshaping logistics in the Gulf, especially around temperature-sensitive goods. Nacouzi sees the deal as a growth catalyst.

“The UAE–India CEPA is a significant development that is reshaping logistics and cold-chain operations in the region,” he explained. “This agreement facilitates smoother trade by reducing tariffs, simplifying customs processes, and enhancing the flow of goods across borders.”

As a result, demand for cold-chain solutions—vital for pharmaceuticals, food, and electronics—is rising sharply. “The trade agreement accelerates the need for rapid and seamless cold-chain deliveries, and we’re investing in the infrastructure required to support this growing market,” he noted.

Technology adoption is at the core of Transcorp’s strategy. AI-driven forecasting and predictive analytics have transformed how the company anticipates and manages disruption.

“AI-powered tools allow us to predict demand fluctuations with great accuracy, ensuring we have the right resources and infrastructure in place before peaks occur,” Nacouzi said. The company also deploys predictive maintenance systems that monitor vehicles in real-time and forecast mechanical failures before they happen, reducing costly downtime.

“With this real-time visibility, we are able to provide our customers with up-to-the-minute information, improving trust and ensuring the integrity of their time-sensitive shipments,” he added.

As GCC economies push toward net-zero targets, logistics operators are under pressure to align with green goals. Nacouzi confirmed that sustainability is “deeply embedded” in Transcorp’s operations.

“We have integrated solar-powered warehouses and electric vehicles into our fleet to minimise carbon emissions,” he said. “We also prioritise the use of recyclable packaging and energy-efficient cooling systems, significantly reducing energy consumption.”

Transcorp is also aligning with circular economy principles by partnering with suppliers who share its sustainability goals. Optimising routes to cut fuel use and investing in renewable-powered infrastructure are central to its long-term roadmap.

Regional integration

Efforts to harmonise GCC regulations are already creating new opportunities for logistics players. “Harmonised regulations across the GCC, coupled with initiatives to streamline cross-border logistics, make it easier for us to expand our operations without facing significant regulatory barriers,” Nacouzi explained.

The unification of customs and liberalisation of logistics zones are smoothing trade flows and enabling faster regional expansion. For Transcorp, this means scaling its network across the Gulf while reducing operational friction.

Operating in 50 cities across the UAE, Saudi Arabia, and Qatar has taught Transcorp several key lessons that could guide other logistics players navigating complex trade networks.

Read: DP World invests $2.5bn in logistics, creating 5,000 jobs in 2025

“One key takeaway is the importance of understanding the unique regulatory, cultural, and infrastructural challenges of each market,” Nacouzi said. “The GCC is a diverse region with varying levels of logistical infrastructure, and success depends on tailoring your operations to local conditions.”

He added that strong partnerships with local suppliers, governments, and logistics providers are essential for smooth operations. But above all, adaptability is critical. “Flexibility and adaptability are crucial—being able to quickly respond to changes in market demand, regulatory environments, or geopolitical shifts is critical for long-term success.”

Logistics providers in the GCC face both challenges and opportunities. For Nacouzi, the winners will be those who embrace technology-driven agility, sustainability, and regional integration while preparing for shocks across critical trade routes.

ADQ, Azerbaijan Investment Holding ink MoU to explore collaboration

The partnership builds on a joint investment platform launched in December 2023, where ADQ and AIH committed equal capital to projects in agriculture, technology, pharmaceuticals, and energy infrastructure

Neesha Salian
Neesha Salian

17 September, 2025

ADQ, Azerbaijan Investment Holding ink MoU to explore collaboration
Image: ADQ

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ADQ, the UAE-based sovereign investor focused on critical infrastructure and global supply chains, and Azerbaijan Investment Holding (AIH) have signed a memorandum of understanding (MoU) to explore collaboration aimed at advancing shared development objectives.

Under the agreement, the two entities will examine opportunities in the financial services sector, focusing on initiatives that enhance market connectivity and strengthen the investment ecosystem to support sustainable growth.

The partnership builds on a joint investment platform launched in December 2023, where ADQ and AIH committed equal capital to projects in agriculture, technology, pharmaceuticals, and energy infrastructure across Azerbaijan, the UAE, and Central Asia, with potential expansion into other markets.

Mohamed Hassan Alsuwaidi, MD and group CEO of ADQ, said: “The latest agreement with Azerbaijan Investment Holding demonstrates our ability to build long-term and mutually beneficial partnerships with aligned institutions, while showcasing ADQ’s approach of deploying patient capital and investment expertise to advance priority sectors across key geographies. Through this, we are enabling the diversification of economies, driving industrial expansion, and creating opportunities that strengthen regional connectivity and global competitiveness.”

ADQ-AIH partnership to unlock opportunities for Azerbaijan’s growth

Ruslan Alikhanov, CEO of AIH, said: “Our partnership with ADQ marks an important step in unlocking new opportunities for Azerbaijan’s continued progress. Working together, we are channeling capital and expertise into key industries, fostering more diversified growth across the country.

“This collaboration fuels our ambitions for economic transformation, strengthens connections within the region, and helps position Azerbaijan as a dynamic participant on the global stage.”

Established in 2020, AIH manages and strengthens state-owned enterprises, supporting Azerbaijan’s economic modernisation through governance improvements, efficiency gains, and targeted investment.

Trade and investment ties between the UAE and Azerbaijan continue to grow, with non-oil trade rising 43 per cent year-on-year to reach $2.4bn in 2024. The UAE has invested over $1bn in Azerbaijan, highlighting a bilateral relationship that has endured since 1992.

Read: UAE and Azerbaijan sign CEPA to boost trade, investment ties

Dar Global acquires prime Jeddah plot for landmark mixed-use development

The project aligns with Saudi Arabia’s Vision 2030, aiming to enhance Jeddah’s appeal for investment, business, and modern living

Neesha Salian
Neesha Salian

17 September, 2025

Dar Global acquires prime Jeddah plot for landmark mixed-use development
Image: Dar Global

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Dar Global, the London-listed luxury real estate developer, said on Monday it had acquired a 28,800-square-metre plot in Jeddah as part of its plans to develop a branded mixed-use project.

The development will include premium residences, serviced apartments, retail space, and offices, positioning the scheme as a key addition to the city’s ongoing urban transformation.

The project aligns with Saudi Arabia’s Vision 2030, aiming to enhance Jeddah’s appeal for investment, business, and modern living through internationally benchmarked design and architecture.

Project reflects Dar Global’s commitment to the kingdom’s development

Ziad El Chaar, CEO of Dar Global, said: “As a company whose roots are in Saudi Arabia and now stands at the heart of international luxury development, this acquisition represents more than just the first steps of a new project development. Indeed, it reinforces our commitment to the country’s bold future.

“By bringing together Saudi expertise in design and development with global standards of delivery, we aim to create a landmark destination in the heart of Jeddah.”

The acquisition marks Dar Global’s continued focus on high-profile projects in the kingdom, leveraging both local experience and global development standards to contribute to Saudi Arabia’s evolving urban landscape.

Read: Eric Trump on why the Gulf is the future of luxury real estate

RTA, Terra to install battery-swapping stations for electric delivery bikes

The partnership includes the creation of an integrated system tailored to the delivery sector, designed to meet operators’ charging requirements while helping reduce the cost of ownership

Gulf Business
Gulf Business

17 September, 2025

RTA, Terra to install battery-swapping stations for electric delivery bikes
Image: RTA/ Dubai Media Office

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Dubai’s Roads and Transport Authority (RTA) has announced plans to install several battery-swapping stations for electric bikes across strategic locations in the emirate, in a move aimed at promoting sustainable transport and reducing emissions.

The initiative will be developed in collaboration with Terra Tech, a MENA-based B2B micro-mobility technology start-up specialising in battery-swapping infrastructure. It marks the first project of its kind in the region to support zero-emission delivery fleets.

The partnership includes the creation of an integrated system tailored to the delivery sector, designed to meet operators’ charging requirements while helping reduce the total cost of ownership.

Delivery, commercial partners invited to engage with the RTA-Terra initiative

Ahmed Mahboob, CEO of RTA’s Licensing Agency, said the initiative is aligned with the Commercial and Logistics Land Transport Strategy 2030, which aims to cut carbon emissions by 30 per cent through the development of 36 operational locations across Dubai.

“This collaboration supports the development of alternative sustainable energy solutions and enhances the emirate’s readiness to adopt future technologies and operational practices that help reduce emissions, minimise noise pollution, and improve service quality for both citizens and residents alike,” Mahboob said. He added that RTA invites delivery and commercial partners to engage with the initiative to foster a more efficient and sustainable future.

Husam Al Zammar, CEO of Terra, described the collaboration as an important milestone. “RTA has always been achieving major accomplishments in infrastructure and sustainable transport services for all segments of society, particularly in the regulation, expansion, and development of the delivery sector, which plays a vital role in driving the growth of Dubai’s GDP,” he said.

Al Zammar added: “We value RTA’s confidence in our solution for developing battery-swapping stations for the delivery sector, and we look forward to working together to empower the electric bike delivery ecosystem in Dubai.”

Read: Dubai to install 200 ultra-fast EV stations in residential, retail areas

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