Category: Business

Dubai Taxi Company PJSC (DTC), a leading mobility solutions provider in Dubai, has unveiled an ambitious corporate strategy for 2025–2029, aiming to maintain its leadership in the taxi market while expanding into new sectors such as limousine services and delivery. The company also plans to explore untapped markets across the UAE and the broader region. The strategy targets double-digit growth across DTC's portfolio, coupled with a high dividend payout ratio over the next five years. This approach is designed to

Agility Global, a leading logistics and supply chain services provider, has secured a $1.4 billion credit facility to support its ongoing operations and future growth initiatives. The financing comprises €1 billion and $370 million, with maturities of three and five years, respectively. This strategic move aims to enhance the company's financial flexibility and fund its expansion plans across various markets. The credit facility was arranged with a consortium of regional and international banks, reflecting strong confidence in Agility Global's business model

Abu Dhabi-based Modon Holding has acquired 100% of La Zagaleta S.L., the owner of the exclusive La Zagaleta residential estate in Spain's Costa del Sol. La Zagaleta, situated in the hills of Benahavís near Marbella, spans approximately 900 hectares and is renowned for its luxury villas, some priced over €30 million. The estate features two private golf courses, an equestrian center, a helipad, and extensive natural surroundings, offering residents unparalleled privacy and security. The acquisition includes La Zagaleta's planned Majarambuz

Abu Dhabi National Oil Company Logistics & Services (ADNOC L&S) has made a significant move to bolster its offshore operations, adding 20 new assets to its portfolio in 2024. This expansion underscores the company’s growing influence in the energy sector, particularly in offshore oil and gas logistics. ADNOC L&S aims to meet the increasing demand for offshore production and logistics services while reinforcing its position in the competitive energy market. The expansion of offshore assets follows ADNOC L&S's long-standing strategy to

Infinity Power, a prominent renewable energy developer partly owned by Masdar, is evaluating the possibility of launching an initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX) within the next two to three years. The company's chairman, Mohamed Jameel Al Ramahi, revealed this potential move in an interview, signaling Infinity Power's ambition to expand its influence in the global clean energy sector. Infinity Power is a joint venture between the UAE's Masdar, one of the world’s leading renewable energy

Parkin and BATIC, two prominent players in the realm of urban mobility solutions, have announced a strategic collaboration aimed at transforming parking systems in Saudi Arabia. The partnership focuses on leveraging cutting-edge technologies to enhance the efficiency and accessibility of parking infrastructure across key urban areas. Parkin, a company known for its innovative smart parking systems, and BATIC, a leader in digital transformation solutions for the transport sector, have joined forces with the goal of addressing the pressing challenges associated

The Roads and Transport Authority (RTA) of Dubai has officially launched the 'Logisty' platform, a major technological initiative aimed at enhancing the efficiency of freight transport across the region. The platform, designed to streamline logistics operations, will serve as a pivotal tool for both local businesses and international traders, helping to optimize the movement of goods in and out of Dubai. With logistics playing a key role in the city's economic framework, the introduction of this digital solution reflects Dubai’s

A newly established venture capital fund, backed by Saudi Arabia’s Public Investment Fund (PIF), aims to accelerate the growth of start-ups in the UAE and Saudi Arabia. The $50 million fund targets early-stage companies, with a particular focus on industries such as technology, energy, and health care, aligning with both nations’ broader economic diversification efforts. The PIF-backed fund, a strategic move in the Kingdom's and UAE’s fast-evolving start-up ecosystem, reflects the ambition to bolster innovation, create job opportunities, and contribute to

Dubai-based fintech platform Stake has officially launched its operations in Saudi Arabia, marking a significant step in its expansion strategy across the Middle East. This move is set to bolster the company’s position in the region's growing digital financial landscape, which has seen rapid growth amid Saudi Arabia’s push to diversify its economy under the Vision 2030 framework. Stake, which has established itself as a leading player in the financial technology sector in the UAE, provides innovative solutions for stock trading,

Polen Capital, a prominent global asset management firm, has announced its plans to open an office in Abu Dhabi, marking a significant step in its strategy to expand its operations in the Middle East. The firm, which has a strong track record in managing equity and fixed-income portfolios, aims to tap into the growing wealth and investment opportunities in the region. This move underscores the increasing importance of the Middle East in the global financial landscape, as more asset managers

Starting a business in Dubai, one of the world’s most dynamic business hubs, can be an exciting but complex journey. With its strategic location, tax benefits, and a diverse economy, Dubai offers unparalleled opportunities for entrepreneurs. However, navigating legal requirements, licenses, and market intricacies demands expertise. That’s where professional Business Setup Consultants in Dubai come into play. Why Dubai is a Preferred Business Destination Dubai has established itself as a top destination for businesses of all sizes. Here are some compelling reasons

A significant step in global energy cooperation has been marked by a 15-year sales and purchase agreement between ADNOC, Abu Dhabi's state-owned energy company, and PETRONAS, Malaysia's national oil and gas corporation. This strategic partnership focuses on liquefied natural gas (LNG) supplies from the Ruwais LNG project, with deliveries slated to commence in 2028. The deal, unveiled during the ADIPEC energy conference in Abu Dhabi, represents ADNOC’s effort to strengthen its lower-carbon energy portfolio. PETRONAS is set to receive approximately 1

Mubadala Investment Company has entered into an agreement to acquire a minority stake in Zelis, a prominent US-based health technology firm. This deal, valued at approximately $1.7 billion, is poised to enhance the UAE-based investment firm's health sector portfolio. The strategic move aligns with Mubadala's long-term goal of expanding its footprint in high-growth markets, especially within health tech, and signals its continued interest in driving international expansion, particularly in emerging markets such as China and India. Zelis, a leader in healthcare

Edgnex Data Centers, a leading player in the global data center market, has entered into a joint venture (JV) with a prominent Greek investment group, marking a significant move into Europe. The new venture will focus on building data center infrastructure in Greece, with an initial investment commitment of $157 million. This collaboration, spearheaded by Dubai billionaire Hussain Sajwani’s company, is expected to accelerate the digital transformation across the region while tapping into Greece’s growing data storage and processing demands. The

Saudi Aramco, the world's largest energy company, has secured a significant foothold in the evolving mobility sector through its acquisition of a 10% stake in Horse Powertrain, a global leader in automotive engineering and electrification technologies. This strategic move, announced last week, underscores Aramco’s ambition to diversify its portfolio and strengthen its commitment to sustainable mobility solutions. Horse Powertrain, renowned for its cutting-edge advancements in electric powertrains, specializes in developing high-performance, energy-efficient systems for a wide array of vehicles. The company's

PRYPCO, a prominent Dubai-based real estate firm led by Amira Sajwani, has launched an innovative fractional ownership platform aimed at democratizing access to premium properties in the city. The platform allows investors to buy fractions of luxury real estate, significantly lowering the barriers to entry in a market traditionally dominated by high-net-worth individuals. The new platform is poised to reshape the landscape of real estate investment in Dubai by leveraging technology to offer fractional shares in high-value properties. This initiative comes

Abu Dhabi’s strategic investment company, MAIR Group, is preparing to go public next month, marking a significant milestone in the emirate's economic development strategy. The group's upcoming listing on the Abu Dhabi Securities Exchange (ADX) is poised to enhance its visibility and bolster its efforts in achieving food security and economic diversification. MAIR Group operates a diverse portfolio, including the Abu Dhabi Cooperative Society (ADCOOP), which has expanded significantly following a merger with cooperative societies in Al Ain, Delma, and Al

Understood. Allow me to begin researching and drafting this report. I’ll provide a professional, fact-checked, and unbiased article shortly. Talabat, a leading food delivery platform in the Middle East and North Africa (MENA), has confirmed that its initial public offering (IPO) in Dubai has been increased to $2 billion following strong investor demand. The company, owned by Germany’s Delivery Hero, is offering 3.493 billion shares, accounting for 15% of its total issued share capital. The IPO is set to mark one

An affiliate of Mubadala Capital, the UAE-based alternative asset management firm, has reached an agreement to acquire Canada’s CI Financial Corp. in a deal valued at approximately CAD 4.7 billion ($3.36 billion). Under the terms of the agreement, all shareholders of CI Financial will receive CAD 32 per share, representing a significant 33% premium over Friday's closing price and a 58% premium over the 60-day volume-weighted average trading price on the Toronto Stock Exchange. This move marks a pivotal moment for

The UAE's small and medium-sized enterprises (SMEs), which make up over 90% of the country's businesses, are witnessing an influx of transformative mergers and acquisitions (M&A) activity. This surge, prompted by a combination of government initiatives and the rise of digital solutions, is expected to redefine the sector’s growth trajectory. As part of its economic diversification strategy, the UAE has been fostering the expansion of SMEs, and mergers are increasingly seen as a key mechanism to accelerate this process. The nation’s

Dubai is a global icon of rapid urban transformation, evolving from a quiet desert town into a bustling international metropolis in just a few decades. Behind this remarkable growth lies a network of services enabling the city’s expansion and mobility. Among these, moving companies in Dubai are key players, ensuring seamless transitions for residents, businesses, and global professionals. The Unprecedented Growth of Dubai Population Growth and Urban Development As Dubai transforms into a global metropolis, relocation services are increasingly vital for the city's

Lulu Group International has reported a remarkable leap in profits for the third quarter, marking a significant milestone in the company’s financial journey following its initial public offering (IPO). The group, known for its retail and wholesale operations across the Middle East and Asia, saw its profit more than double compared to the same period last year. This surge in earnings is the first after Lulu’s IPO, which was completed earlier this year, underscoring the company's robust growth and strategic

Pure Harvest Smart Farms, a UAE-founded controlled environment agriculture (CEA) company, is positioning itself for further growth as it sets its sights on expanding operations beyond the Middle East. Following significant milestones in its domestic and regional markets, the company is now exploring opportunities in the USA, Mexico, Morocco, and Singapore. This expansion aligns with the company's long-term vision of becoming a global leader in the technology-driven agribusiness sector, with plans to go public by 2027 or 2028. Headquartered in Abu

Salik, the toll operator for Dubai's roadways, has posted a significant increase in its earnings, signaling a promising growth trajectory. The toll operator, which manages Dubai's Salik toll system, revealed that its profits have surged, bolstered by an uptick in traffic volumes and improved operational efficiencies. The company, which operates the electronic toll collection system across Dubai, saw its revenues climb sharply. The key factor behind this growth has been a steady rise in vehicle registrations in the emirate, along with

Mubadala Investment Company and commodities trader Trafigura are exploring the sale of their assets in Brazil’s iron-ore sector, specifically Porto Sudeste, a key iron ore port in Rio de Janeiro, and the Mineração Morro do Ipê mining project in Minas Gerais. Both entities are working with UBS BB and Goldman Sachs to facilitate the sale, a move that could be completed within the next six to nine months. The duo’s involvement with these assets dates back to early 2014 when they

Emaar Properties, one of the largest real estate developers in the UAE, has reported a modest growth in its profits for the first nine months of the year. The company’s net income rose compared to the same period last year, driven primarily by strong performance in its core real estate development and retail segments. The Dubai-based developer, which operates a diverse portfolio of real estate and hospitality ventures, saw its total revenue increase by a substantial margin. Key developments, including the

DAMAC Properties, the UAE-based real estate giant, has ventured into the world of premium travel with the launch of DAMAC Air, a luxury airline designed for high-end tourists seeking bespoke experiences in some of the world’s most exotic destinations. This new venture comes as part of the company’s expansion from real estate and hospitality into the luxury travel sector, continuing its tradition of offering elite services. DAMAC Air is tailored to cater to affluent travelers, offering private jet services to coveted

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Deyaar Development has announced plans to launch a new real estate project in Dubai, with a projected investment value of Dh1.5 billion. This project, set for completion by the end of the year, marks a significant milestone for the company, which is renowned for its high-profile developments across the emirate. The initiative is part of Deyaar’s broader strategy to strengthen its presence in the competitive Dubai property market, which has seen an uptick in demand for residential and mixed-use developments

New ERP Solutions Help Construction Companies Meet Budgets, Deadlines, and Resource Demands As the construction industry faces increasingly complex projects and tighter profit margins, a growing number of companies are turning to ERP software for construction to improve efficiency. ERP software tailored for construction is transforming how these companies manage everything from budgeting to scheduling, aiming to reduce costs and streamline operations. [caption id="attachment_96817" align="aligncenter" width="800"] Credit: Unsplash[/caption] ERP Software Helps Address Industry Challenges ERP software offers a solution to several persistent challenges in

Abu Dhabi’s National Marine Dredging Company (NMDC) is pursuing its first significant acquisition in the Gulf region, with plans to finalize a deal by the end of the year. The state-backed firm, which has expanded its portfolio through several infrastructure and engineering projects, has been actively exploring new ventures in the region to diversify its operations and strengthen its position in the global construction and marine services market. This potential acquisition will mark a critical step in NMDC’s growth strategy,

TECOM Group has reported a substantial rise in net profit for the first nine months of 2024, marking a 23% increase year-on-year. The group's net profit reached AED 943 million ($256 million), driven by robust revenue figures that hit AED 1.7 billion, an impressive 10% increase compared to the same period in the previous year. This performance reflects the ongoing demand for premium commercial and industrial real estate in Dubai, showcasing the city’s growing appeal to global businesses. The significant profit

Abu Dhabi has unveiled a new licensing framework aimed at facilitating the establishment and operation of longevity medicine centers. This initiative, announced by the Department of Health – Abu Dhabi (DoH), seeks to bolster the emirate's position as a hub for health and wellness, particularly in the burgeoning field of longevity medicine. The framework is designed to promote research, innovation, and the implementation of advanced medical practices that focus on extending healthspan and lifespan. The new framework comes as part of

ADNOC Drilling, a subsidiary of the Abu Dhabi National Oil Company, has reported a remarkable 30% increase in its net profit for the third quarter of the fiscal year, driven by robust demand for drilling services and a strategic focus on operational efficiency. The company, which is a key player in the region's oil and gas sector, generated a net profit of approximately $220 million during this period, reflecting a significant uptick compared to the same quarter last year. The increase