Daily Archives: August 7, 2023

Business & Investments

Line Investments &Star Cinemas join hands

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Line Investments &Star Cinemas join hands

  • To open 22 new screens in 4 malls in Abu Dhabi & Al Ain
  • To be operational by Sept 2023
  • Will explore additional screens in other malls.

7thAugust 2023, Dubai, UAE: As prominent leaders in their respective industries, Line Investments & Property, the shopping mall development, and management arm of Lulu Group International and Star Cinemashave announced their Joint Ventureat a signing ceremony held at the Lulu Regional Office, Al Qusais of an exciting journey ahead towards a shared vision. Through this dynamic partnership, these two trailblazing entities are set to revolutionize the entertainment landscape by introducing a new line of cinema screens that will captivate audiences like never before. This strategic expansion will contribute 22 additional screens to the existing 76 screens currently operated by Star Cinemas. The event was attended by many dignitaries, MA Ashraf Ali, Executive Director of Lulu Group International, Ahmad Golchin, the Founder and Chairman of Phars Film &Star Cinemas, Satyajit Pendharkar, Chief Operating Officer of Star Cinemas,andWajeb al Khoury the Director of Line Investment & Property and Biju George  General Manager Abu Dhabi region.

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Travel & Tourism

Mastercard and Nirvana Travel and Tourism partner

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Mastercard and Nirvana Travel and Tourism partner to provide innovative payment solutions and customize online travel bookings

  • Collaboration to digitize payment flows across the online travel agent’s value chain in the UAE, Saudi Arabia, Egypt and Jordan

UAE, Abu Dhabi – 07August2023:Mastercard and Nirvana Travel and Tourism– one of the UAE’s leading travel and tourism management company – have joined forces in an exclusive collaboration aimed at providing aunique paymentsolution to customers who book travel services in the UAE, Saudi Arabia, Egypt and Jordan. This is a game-changing collaboration that will revolutionize and further facilitate travel for both the corporate and leisure traveller, making it easier and more convenient than ever before.

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Business & Investments

Masdar Marks Roadmap to US$3 billion

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Masdar Marks Roadmap to US$3 billion

Green Bond Offering at London Stock Exchange

Abu Dhabi, UAE – August 7, 2023: Abu Dhabi Future Energy Company PJSC – Masdar has today marked the successful completion of its first green bond issuance for US$750 million 10-year senior unsecured Notes at London Stock Exchange (LSE).

The market opening was attended by HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President-Designate and Chairman of Masdar, HE Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, Ambassador HE Mansoor Abulhoul, UAE Ambassador to the UK, and Masdar Chief Executive Officer, Mohamed Jameel Al Ramahi.

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Technologies

The Middle East fintech market experience rapid growth with a total funding of approximately $2 billion

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The Middle East fintech market experience rapid growth with a total funding of approximately $2 billion, according to research by red_mad_robot

(Dubai, 7th August) – Recent fintech research conducted by red_mad_robot reveals that the Middle East fintech industry is experiencing significant growth and investment opportunities. Over the past two three years (2021-2023), Middle East fintech startups have received a total funding of approximately $2 billion through 140-160 deals, with a 40-43% of a total share in the UAE.

This substantial growth can be attributed to the increasing tech-savviness of consumers who actively utilize digital banking services and non-cash payment methods. Furthermore, government authorities in the Middle East, including central banks and regulators, are committed to developing the fintech sector by establishing necessary infrastructure such as accelerators, incubators, and fintech hubs.

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Business & Investments

NEWEAST TO ESTABLISH AED500 MILLION AUTOMOTIVE PARTS DISTRIBUTION HUB IN JAFZA

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NEWEAST TO ESTABLISH AED500 MILLION AUTOMOTIVE PARTS DISTRIBUTION HUB IN JAFZA

TheMiddle East’s largest spare parts hub will support order fulfilment for 160+ premium automotive brands

Dubai, UAE,08 August: Neweast General Trading, a leading player in the automotive industryhas signed a landmark lease with DP World’s flagship trade and logistics hub, Jebel Ali Free Zone (Jafza), to establish the largest spare parts hub in the Middle East and Africa. The lease was signed by Ahmed Juma Ahli, CEO, Neweast General Trading and Abdulla Al Hashmi, COO, Parks and Zones, DP World UAE.

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