SAINT-GOBAIN FOSROC

Saint-Gobain agrees to buy Dubai-based FOSROC in all-cash deal

Since 2021, the Paris-based multinational has bought 35 companies

DBS, Mashreq partner to boost cross-border payments

Singapore’s DBS, Mashreq join forces for same-day cross-border payments

The service will enable Mashreq’s retail customers to make peer-to-peer global payments in select markets across Asia, Europe and the Americas

Dar Global

Saudi developer Dar Global eyes $300m US expansion

Dar Global hopes to sell at least half of the homes in its US developments to non-US buyers

Aramco

Aramco close to agreeing 10% stake in Renault, Geely thermal engines JV: Report

The energy giant signed a letter of intent in March 2023 with a view to possibly becoming a minority shareholder in the JV

Abu Dhabi luxury developments

Abu Dhabi’s luxury real estate boom: 9 projects to watch

The emirate’s luxury real estate market is on an upswing with a wave of high-end developments set to redefine city living

Manhattan Beekman Place Qatar

Qatar lists its Beekman Place townhouse in Manhattan for $32m

Built around 1910, the 7,300-square-foot property boasts five bedrooms, two terraces, and a rooftop garden

Saudi Arabia: ACWA Power, Badeel, SAPCO sign PPAs for major solar projects

The development of Saudi Arabia’s renewable energy sector is a core objective of Vision 2030, the kingdom’s blueprint for a modern, diversified economy

Saudi Arabia’s Tadawul completes acquisition of 32.6% stake in DME Holdings

Saudi Arabia’s Tadawul completes acquisition of 32.6% stake in DME Holdings

The investment will accelerate the Gulf Mercantile Exchange’s growth as a regional commodities leader well-positioned to capture global commodity demand

Fourth Milling Company plans to list 30% stake in IPO

Saudi Arabia’s Fourth Milling Company plans to list 30% stake in IPO, CMA says

The company was part of a wider privatisation programme under Saudi Arabia’s Vision 2030 strategy aimed at diversifying the oil-dominated economy

UAE to announce petrol prices for July: will rates drop further?

UAE to announce petrol prices for July: will rates drop further?

The fuel price committee slashed the retail prices for Super 98, Special 95, and E-Plus 91 by 20 fils per litre compared to the previous month

Rivian

Volkswagen’s $5bn investment in Rivian signals future EV collaboration trends

Rivian will form an equally controlled joint venture with Volkswagen to share EV architecture and software

LME

LME undertaking consultation around Saudi expansion: Report

London Metal Exchange will undertake consulting on the final rulemaking around the Jeddah expansion, but said it remains positive on that initiative

Lubambe copper mine - IHCv - Vedanta

Vedanta in talks with IHC unit, investors for Zambian copper stake sale

Vedanta could sell up to 30 per cent of its shareholding in the Konkola assets

Oracle Mashreq

Mashreq Bank to roll out Oracle’s core banking system globally

With Oracle’s common data platform, Mashreq said it will also have the infrastructure needed for advanced analytics, compliance, and strategic decision-making

Saudi Aramco, Sempra sign 20-year LNG offtake deal

Saudi Aramco, Sempra sign 20-year LNG offtake deal

Aramco and Sempra expect to execute binding LNG and definitive equity agreements with terms substantially equivalent to those in the heads of agreement

DAR TRUMP

Dar Global ties up with Trump Organization for luxury resort in Oman

The Trump International Oman will feature a 140-key, 5-star hotel complex that includes an array of luxurious accommodations

UAE raises $1.5bn from 10-year bonds

UAE returns to bond market, raising $1.5bn in 10-year bonds

The debt is rated Aa2, the third-highest investment grade, by Moody’s and one step lower at AA- by Fitch Ratings

SingAuto

SingAuto rolls into UAE with self-driving trucks and EV District in Abu Dhabi

SingAuto’s initiative to build the world’s largest commercial EV industrial district marks a significant step towards a sustainable, innovative, and efficient logistics landscape for the region

Aston Martin Valiant

Aston Martin to start delivery of Alonso-inspired race car Valiant in fourth quarter

Valiant joins the ranks of Valkyrie, Vantage and upcoming mid-engine supercar Valhalla as collectible specials

QatarEnergy 2023 profit drops 32% as gas prices cool

Qatar Energy 2023 profit drops 32% as gas prices cool

The energy firm’s profit was roughly in line with that of oil major Shell

TA’ZIZ, Japan’s Mitsui build ammonia plant in UAE, to start production in 2027

TA’ZIZ, Japan’s Mitsui to build ammonia plant in UAE, production to start 2027

The facility in Abu Dhabi’s Al Ruwais will have the capacity to produce one million tonnes of low-carbon ammonia per year starting in 2027

UAE reportedly considering 10-year golden business licences

UAE: New guidelines for public-private partnerships, Sandbox Conditions regulation

The PPP Manual and the Sandbox Conditions regulation are crucial steps in the UAE’s strategy to build the country’s business ecosystem

Lithium Production Chile

Saudi-backed Almar Water seeks lithium partnership in Chile

Water supply is a major challenge for the lithium industry, following persistent drought in the South American country

Kuwait’s KFH explores Saudi M&A deals in regional expansion drive

Kuwait’s KFH explores Saudi M&A deals in regional expansion drive

The banking group said it was conducting studies on the potential expansion and that these were in line with its strategy envisioning potential investments in the region

HSBC

HSBC chooses UAE to debut its global trading platform

HSBC said its WorldTrader platform connects to 77 exchanges across 25 markets

How Antonovich Group is revolutionising MENA’s turnkey market

Here’s how Antonovich Group is revolutionising MENA’s turnkey market

The group is witnessing a surge in clients demanding personalised, sustainable, and technology-integrated designs

stock markets

Subscriptions open for Chimera JP Morgan Global Sukuk ETF: How to invest

Investors can subscribe to the ETF units, during the offering period, which runs until July 2

Saudi Arabia’s construction output value to hit $181.5bn by 2028

Saudi Arabia’s construction output value to hit $181.5bn by 2028, Knight Frank says

The ongoing transformation is being driven by Vision 2030, which aims to deliver more than 660,000 residential units and over 320,000 hotel keys

DDoS cyberattacks

DDos attacks up 183% in MENA amid geopolitical tensions: StormWall

As the geopolitical situation continues to evolve in the MENA region, the frequency and intensity of DDoS attacks by hacktivists as well as malicious actors, are expected to persist

Abu Dhabi launches first-of-its-kind Family Business Index

Abu Dhabi launches first-of-its-kind Family Business Index

The index will provide a deeper understanding of the role and impact of family businesses on the economy and society