Category Archives: Business & Investments

Business & Investments

Mashreq closes US$88 million syndicated term loan facility for Joint-Stock Commercial Bank “Agrobank”

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Mashreq closes US$88 million syndicated term loan facility for Joint-Stock Commercial Bank “Agrobank”

The deal marks the first transaction for an Uzbekistan state-owned bank in the MENA region

Dubai, UAE – February 27, 2024: Mashreq, a leading financial institution in the MENA region, announced the closing of a US$88 million one-year syndicated term loan facility for Joint-Stock Commercial Bank “Agrobank”.

Mashreq acted as sole coordinator, initial mandated lead arranger, bookrunner, and facility agent for the deal. Marking a debut transaction for an Uzbekistan state-owned bank in the MENA region, the facility was oversubscribed by 75%, and its proceeds will be used towards general corporate purposes.

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Business & Investments

KEZAD Group and Sam Force Sign Agreements for Community Retail Centres Development

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KEZAD Group and Sam Force Sign Agreements for Community Retail Centres Development

Sam Force will Develop and Operate Two Centres in KEZAD to Enhance Community Lifestyle and Amenity Offering

Abu Dhabi, UAE – 27 February 2024:  Khalifa Economic Zones Abu Dhabi – KEZAD Group, a leader in the development of integrated and purpose-built economic zones, today announced two land lease agreements with Sam Force Trading, a renowned developer and operator of real estate assets in Abu Dhabi. The agreements mark a pivotal step in enhancing the retail infrastructure in KEZAD through the creation of vibrant retail community centres.

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Business & Investments

IHC Unveils Resounding 2023 Financial Results

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IHC Unveils Resounding 2023 Financial Results Demonstrating Strong Growth and Operational Excellence

Tahnoon bin Zayed Al Nahyan: “IHC has navigated a year of transformative growth, strengthened by forging key global partnerships and a versatile portfolio that has enabled us to adapt to economic fluctuations. Our efforts to deepen international connections underscore our mission to support the UAE’s ascent as a premier financial and innovation leader.

  • Record Revenue climbing to AED 60.1 billion with strategic acquisitions and performance driving a preliminary 17.9% YoY increase.
  • Growth of EPS to AED 12.55, indicating robust financial health and investor confidence.
  • Strong net profit at AED 32.95 billion.

Abu Dhabi, UAE; 26 February 2024: International Holding Company (ADX:IHC), the global diversified Abu Dhabi-based conglomerate has announced its Financial Results for the year ended December 31, 2023, showcasing a remarkable year of transformational growth, operational excellence, achievements in sustainability, and stellar financial performance.

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Business & Investments

Intangles and Bahwan Commercial Company Forge an Alliance to Revolutionise Telematics in KSA & Bahrain

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Intangles and Bahwan Commercial Company Forge an Alliance to Revolutionise Telematics in KSA & Bahrain

Dubai, February 22, 2024 – Intangles, one of the world’s fastest-growing Digital Twin solutions providers, in its bid to bring the power of Digital Twin technology to every segment across the globe, has announced a strategic partnership with Bahwan Commercial Company, a professionally managed organisation in the Middle East.

Intangles has been rapidly expanding its footprint, operating in 17 countries across diverse regions, including the Middle East, APAC, Southeast Asia, Europe, South America, USA, and Canada. With solutions primarily focused on predictive maintenance around the health of mobility assets, driver behaviour analysis, and efficient operations automation, Intangles provides comprehensive predictive insights combined with real-time alerts and repair strategies. The company’s robust network includes over 14 enterprise and OEM partners, attracting more than 25,000 fleet operators to its innovative platform. Processing an impressive 14 billion sensory data points daily, Intangles has solidified its position as a leader in the mobility sector.

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Business & Investments

Malabar Gold & Diamonds Set to Launch 10 New Showrooms

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Malabar Gold & Diamonds Set to Launch 10 New Showrooms; Global Store Count to Reach 350 by End of March

Malabar Gold & Diamonds, the 6th largest jewellery retailer globally with an extensive retail presence of over 340 showrooms across 13 countries, has announced a massive expansion to their global operations. The jewellery giant is set to launch 10 world-class showrooms which will propel the brand’s global store count to 350 by March 2024. The move will further solidify Malabar Gold & Diamonds’ highly coveted position as the most preferred jewellery retailer in India.

The new showrooms in India will be launched at Latur, Satara & Nagpur in Maharashtra, Kolar & Whitefield in Karnataka, Jaipur in Rajasthan, Chandni Chowk in Delhi, Vanasthalipuram in Andhra Pradesh, Patiala in Punjab & in Puducherry. While 8 of the new showrooms will be opened in regions where Malabar Gold & Diamonds has already established a robust presence, the new showrooms in Rajasthan & Puducherry will be the brand’s first expansion into these states.

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