Category Archives: Business & Investments

Business & Investments

Sobha Group announces Sobha Furniture’s factory

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Sobha Group announces Sobha Furniture’s factory, with state-of-the-art fully automated facility at Dubai Industrial City

  • Sobha Furniture factory marks another step towards stronger vertical integration for Sobha Group

Dubai, UAE, 2nd April 2024: Sobha Group, a leading global luxury real estate developer, announced setting up Sobha Furniture’s second factory by signing a land lease agreement with Dubai Industrial City (DIC), the region’s leading industrial hub, to build a facility approximately valued at AED 450million. The state-of-the-art factory is set to be the largest fully automated facilities in UAE.  

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Business & Investments

Network International signs exclusive processing agreement with KamelPay

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Network International signs exclusive processing agreement with KamelPay

  • KamelPay envisages the expansion of its payroll program with the new partnership to over 200,000 customers in 2024
  • KamelPay will operate as an independent fintech in this exclusive partnership with Network International

UAE, 01 April 2024: KamelPay, one of the fastest growing fintech payroll services providers in the UAE, has engaged Network International (Network), the leading enabler of digital commerce across the Middle East and Africa (MEA) region, in an exclusive five-year processor agreement.

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Business & Investments

Abu Dhabi Businesswoman Council and Clear Speak GCC Sign MoU to Empower Women in the Business Landscape

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Abu Dhabi Businesswoman Council and Clear Speak GCC Sign MoU to Empower Women in the Business Landscape

Abu Dhabi, UAE, 1st April 2024: The Abu Dhabi Businesswoman Council (ADBWC), a subsidiary of the Abu Dhabi Chamber of Commerce and Industry (ADCCI), and Clear Speak GCC, a leading provider of communication training solutions, have signed a Memorandum of Understanding (MoU) to empower women in business communication and elevate their professional capabilities.

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Business & Investments

AD Ports Group Issues 2023 Annual Report

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AD Ports Group Issues 2023 Annual Report

Report outlines a year of intelligent internationalisation, entering new markets and completing major acquisitions

Abu Dhabi, UAE – 1 April 2024: AD Ports Group (ADX: ADPORTS), a leading facilitator of global trade, logistics, and industry, today issued its 2023 Annual Report.

The report highlights significant achievements for the Group that expanded its international footprint significantly in 2023, particularly following the integration of Noatum, a global logistics platform with a presence in 27 countries and a leader in automotive logistics services in Europe. Moreover, a series of ports, terminals, maritime and shipping agreements in Jordan, Egypt, Pakistan, Republic of Congo, Kazakhstan and Uzbekistan, supported doubling the Group’s revenue and extended its global reach to 46 countries.

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Business & Investments

Middle East economy remains robust, despite oil cuts and geopolitical turbulence, according to PwC’s Economy Watch

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Middle East economy remains robust, despite oil cuts and geopolitical turbulence, according to PwC’s Economy Watch

  • The extension of OPEC+ production cuts to Q2 this year will have a negative impact on the performance of oil GDP in Oman, Bahrain, and Saudi Arabia.
  • However, growth in the non-oil sector is expected to remain robust, driven by continued public and private sector investment in non-oil activities.
  • Disruption in the Red Sea has revived discussions on alternative routes.
  • Issuance of green bonds and sukuk in the Middle East doubled to $24bn in 2023.
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