Saudi Arabian milling firm MC4 seeks to raise $228.9m from IPO

Saudi Arabian milling firm MC4 seeks to raise $228.9m from IPO

The indicative share price of SAR5 and SAR5.30 per share implies a market valuation of around SAR 2.8bn ($763.2m)

SFD signs loan agreement with dominica

Saudi Fund for Development signs first loan agreement with Dominica

Since its inception, the SFD has supported over 800 projects across 100 countries, with a total funding of $20bn

Omniyat unveils Beyond, new waterfront project

Omniyat Group unveils Beyond, a new development company

The group unveiled an 11 million square feet project along Jumeirah’s coastline in collaboration with Dubai Maritime City, featuring Beyond’s upcoming developments

Dubai opens 2 major bridges to ease traffic flow

Dubai just opened two huge bridges — here’s how they’ll change your commute

The Garn Al Sabkha-Sheikh Mohammed bin Zayed Road Intersection Improvement Project is part of RTA’s broader master plan to develop key east-west traffic corridors and arterial roads

Danish Ahmed CEO Founder Healthtrip

UK-based wellness platform Healthtrip expands to Middle East

The platform has collaborations with over 1,500 hospitals and wellness centres across the US, UK, Germany, UAE, Saudi Arabia, Thailand, India, Singapore and Egypt

Saudi Arabia’s PIF swings to $36.8bn profit in 2023

S&P revises Saudi Arabia’s outlook to positive on strong non-oil economy

The ratings agency said the positive outlook reflects Saudi Arabia’s potential to bring in more reforms and investments

qualcomm, aramco, rdia partner to launch DISA to support saudi hi-tech startups GettyImages-1241753513

Qualcomm, Aramco, RDIA launch incubator for high-tech startups

The DISA programme will build upon Qualcomm’s successful track record of similar initiatives in regions such as Taiwan, India, Vietnam and Africa

Acwa power solar panels

AMEA Power to develop Africa’s largest solar PV project

The projects will bring AMEA Power’s total capacity in Egypt to 2,000MW of solar and wind power, accompanied by 900MWh of battery energy storage systems

Yas Island Airport Lounge unveiled at Zayed International Airport

Yas Island debuts arrival lounge at Zayed International Airport; details here

Yas Island Lounge will welcome visitors headed to the destination with all the information they need to start planning their adventure

Big- data - Cloudera

Why data must be refined like oil to drive business value: Cloudera CEO

Charles Sansbury tells Gulf Business that data like oil requires substantial effort and infrastructure to unlock its full potential

Farmer and tablet working at sweet corn smart farm - AI

Farm to table reinvented: How AI is driving agricultural value chain transformation

AI’s predictive ability empowers agribusinesses to adjust planting schedules, optimise harvest times, and make well-informed decisions regarding crop selection

UAE, China look to strengthen comprehensive strategic partnership

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Chinese Premier Li Qiang met this week to discuss economic, political, and cultural cooperation between the nations

IHG, Sankari to debut standalone Regent Residences in Dubai

IHG, Sankari to debut standalone Regent Residences in Dubai

The project, slated for completion by the end of 2027, features a twin-tower development designed by Foster + Partners and is located in Marasi Marina

Abu Dhabi’s MGX in talks to invest in OpenAI: WSJ reports

Abu Dhabi tech investment firm MGX in talks to invest in OpenAI: WSJ reports

The creator of ChatGPT is in talks to raise $6.5bn from investors at a valuation of $150bn

Emirates Development Bank (EDB) launches AGRIX accelerator programme

Emirates Development Bank launches AGRIX accelerator programme

The 20-week programme will provide farmers, agribusinesses, and technology providers with specialised financial solutions and advanced agri-tech tools

The Blackstone headquarters in in New York, US, on Wednesday, July 17, 2024. Blackstone Inc.'s real estate arm weighed on the investment giant’s second-quarter results, as high interest rates crimped property valuations and investors pumped less money into the business. Photographer: Michael Nagle/Bloomberg

Blackstone mulls selling stake in Dubai-based visa firm VFS Global

The asset management firm bought a majority stake in VFS Global from EQT in October 2021, with EQT retaining a minority position

Sheikh Mohammed Establishes New Media Firm ‘Mada’ in Dubai

Sheikh Mohammed establishes new Dubai media firm ‘Mada’

Mada Media Company, a private joint-stock company (PJSC), will be tasked with managing, developing, and operating advertising sites across Dubai

DMCC launches AI Centre to drive global AI solutions

Dubai: DMCC launches AI Centre to drive global AI solutions

The AI Centre will occupy two floors and integrate DMCC’s other tech-focused platforms, including the DMCC Crypto and Gaming Centres

Built for air taxis, Danube unveils Bayz102 tower

Apart from the helipad for sky taxis, Bayz102 is expected to feature more than 40 amenities in Dubai’s Business Bay area

Abu Dhabi: Mair Group for Strategic Investments launches operations

Abu Dhabi: Mair Group for Strategic Investments launches operations

Mair Group’s assets include Makani Real Estate Company, which operates a diverse chain of community shopping centres, and SPAR for retail, which has been active in Abu Dhabi for over a decade

PGIM opens Abu Dhabi office, joining money managers’ rush to UAE capital

PGIM opens Abu Dhabi office, joining money managers’ rush to UAE capital

The investment management firm said it has served clients in the Middle East for many years, but Abu Dhabi office would be its first in the region

How Abu Dhabi’s investment legacy is fostering economic development

How Abu Dhabi’s investment legacy is fostering economic development

The city benefits from a thriving, diversified economy, fueled by strategic vision, structural reforms and prudent economic policies

Abu Dhabi’s tech hub Hub71 attracts $130m in startup investment

Hub71 startups attract $130m in investment; here’s who made it to cohort 15

Cohort 15 startups will benefit from up to Dhs250,000 worth of in-kind incentives and Dhs250,000 in cash for equity through a SAFE note

Dubai - Sheikh Hamdan

Everything you need to know about Dubai’s population registry

The new registry aims to “centralise Dubai’s population data, ensuring accuracy, comprehensiveness and real-time updates”, as per Dubai Media Office

QNB board approves QAR2.9bn share buyback program

QNB board approves QAR2.9bn share buyback program

The share buyback will be carried out through open-market purchases and financed by the lender’s retained earnings and excess cash

Etihad Airways reportedly plans to list in 2025

Abu Dhabi’s Etihad Airways plans IPO no earlier than 2025, report says

The airline had planned to go public this year, but it decided to wait until 2024 to showcase its strong financial performance

Thierry Sabbagh of Nissan Middle East on the Arc and key auto trends

Nissan’s Thierry Sabbagh on The Arc, electrification and all-new Patrol

Nissan’s DVP and president – Middle East, Saudi Arabia & CIS discusses the brand’s impressive growth in the region, driven by a diverse product lineup, robust SUV demand, and customer-centric innovations

Bapco Energies sells stake in Saudi Bahrain Pipeline to BlackRock fund

Bapco Energies sells stake in Saudi Bahrain Pipeline to BlackRock fund

Bapco Energies and BlackRock signed another MOU to explore Bahraini infrastructure and decarbonisation projects in the future

Saudi Arabian Mills sets IPO price range, seeks to raise $271m

Saudi Arabian Mills prices IPO at top of indicated range to raise $271m

The milling firm said that the retail subscription period will run from September 18 to September 19

RUSSIA-SAUDI-SPA OPEC TALKS

Saudi crown prince, Russia’s Lavrov discuss OPEC+ cooperation in Riyadh

Lavrov arrived in Saudi Arabia on an official visit on Sunday