Category Archives: Business & Investments

Business & Investments

Alat and TK Elevator announce strategic joint venture to manufacture end-to-end elevator and escalator solutions in Saudi Arabia, with Alat also becoming a significant long-term shareholder in TK Elevator

 Alat and TK Elevator are forming a €160 million joint venture to manufacture and provide elevator and escalator solutions in Saudi Arabia and the MENA region, powering future organic growth. In addition, Alat will invest to become a significant long-term shareholder in TK Elevator, capitalizing on the company’s strong growth potential.

Riyadh, February 24, 2025 – Alat, a PIF company, and TK Elevator (TKE), a global leader in vertical transportation and urban mobility with global sales exceeding €9 billion, today announced the formation of a €160 million joint venture (JV). The JV will bring mobility products, solutions and manufacturing to the Kingdom of Saudi Arabia (KSA), supported by a local product development center. Alat will also become a direct TKE shareholder and member of the current investment consortium with a 15% stake, a testament to TKE’s operational strength and its attractive value creation prospects. The transaction is expected to close by the end of the third quarter of 2025, subject to customary statutory and regulatory approvals.

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Business & Investments

Snap Inc. signs landmark MOU with Government Communications Office (GCO) at Web Summit Qatar 2025 to launch first Augmented Reality Academy in the MENA region

MOU unlocks the creative potential of the region’s impressive talent pool and fuels thriving digital ecosystem

Doha, Qatar, 25 February 2025: Snap Inc. has signed a landmark Memorandum of Understanding (MoU) with Qatar’s Government Communications Office (GCO) to launch the first Augmented Reality (AR) Academy in the MENA region. Announced at Web Summit Qatar 2025, the agreement marks a significant step in unlocking creative potential across the region and driving digital innovation.

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Business & Investments

Dubai and DIFC selected to host 2026 Global Privacy Assembly

Dubai, UAE: 24 February 2025: The Global Privacy Assembly (GPA) has announced that Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa, and South Asia (MEASA) region, has been selected to host the GPA conference in 2026.

The Global Privacy Assembly is an international group, established in 1979 as the premier global forum for data protection and privacy authorities. The Assembly is comprised of leading global Information and Privacy Authorities and Commissioners. It is an independent body that operates primarily to uphold information rights in the public interest, promoting openness by public bodies and data privacy for individuals.

DIFC’s selection reflects the Centre’s reputation of being at the forefront of data protection and privacy regulation in the region. With its robust Data Protection Law (DIFC Law No. 5 of 2020), DIFC ensures the highest standards of privacy and data security, fostering trust among global businesses and multi-jurisdictional stakeholders. As a key jurisdiction that facilitates secure, cross-border data flows, DIFC is committed to enabling innovation while ensuring that data is handled ethically and responsibly.

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Business & Investments

Daman Investments Collaborates with Société Générale to Strengthen ESG-Focused Investing

Dubai, UAE – February 2025 – – Daman Investments PSC (“Daman”), a leading UAE financial institution, is proud to announce its latest initiative aimed at advancing sustainable investment opportunities.

Developed in collaboration with Société Générale, the initiative underscores Daman Investment’s dedication to aligning with globally recognized ESG frameworks. By integrating stringent sustainability criteria into its approach, the initiative exemplifies the company’s commitment to responsible investing.

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Business & Investments

Middle East Energy Expands Footprint as Global Innovation and Battery Tech Take Center Stage

  • Global Innovation and Africa Business Leaders forums join expanded conference agenda
  • Institute of Electrical & Electronics Engineers technical sessions planned
  • Battery Show conference to probe future of MENA’s EV and battery market
  • More than 150 regional and international experts in speaker line-up

Dubai, UAE – February 24, 2025: The 49th edition of Middle East Energy (MEE), which shapes the energy sector in the region and Africa, will upscale industry insights as it more than doubles its conference tracks, expanding from three to six for 2025. Organised by Informa Markets, MEE 2025 will run from April 7-9 at the Dubai World Trade Centre (DWTC) and its conference series will bring together over 150 energy leaders and experts from across the region and the globe to explore innovative solutions and transformative sector advancements.

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