Category Archives: Business & Investments

Business & Investments

Sancta Capital Announces $43 million Acquisition

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Sancta Capital Announces $43 million Acquisition and Growth Debt Funding of RSS, a Leading GCC Power Solutions Provider

  • Transaction financed via issuance of a novel $43 million Shariah-compliant senior secured debt instrument
  • Sancta Capital acquires 75% equity stake in RSS, with 25% allotted as management incentive
  • Substantial portion of issuance to fund RSS’ hybrid solar-diesel power transition strategy, supporting early-mover advantage in a rapidly growing segment

Dubai, United Arab Emirates, 30 November 2023: Sancta Capital, the alternative investment manager focused on special situations in the Middle East & North Africa, is pleased to announce the successful acquisition and growth debt funding of Rental Solutions & Services Limited (“RSS”), a leading tech-enabled temporary and backup power solutions provider with a 16-year operating history in the UAE, Saudi Arabia and Bahrain.

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Business & Investments

Eviqe DiamondsTM Launches a Certified Cutting-Edge Lab-Grown Diamond Production Facility.

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Dubai Welcomes a New Sparkling Addition: Eviqe DiamondsTM Launches a Certified Cutting-Edge Lab-Grown Diamond Production Facility.

Dubai, UAE – Dubai, known for its unsurpassed luxury and innovation, is now home to a groundbreaking UAE certified lab-grown diamond company that is set to redefine the luxury jewelry industry.

PlasmabilityTM, Crossworks Manufacturing, a member of the HRA Group, Dubai Holding (SJM Group) and Bond have entered into a strategic partnership establishing Eviqe Diamonds, a technologically advanced pioneer in luxurious, sustainable and ethically created diamonds and jewelry.

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Business & Investments

Over USD20 billion MEA footwear and leather market on upswing with retail spending rise

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Region’s largest footwear and leather products show – DIFLEX 2023 – during December 11-13

Over USD20 billion MEA footwear and leather market on upswing with retail spending rise

Over 250 top footwear and leather producers from across the world to showcase over 10,000 product lines

Dubai, November 29, 2023:  The region’s largest footwear and leather products –DIFLEX 2023 – will debut during December 11-13 in the backdrop of the demand upswing for footwear and leather goods in the Middle East and Africa (MEA) estimated to be growing at a CAGR of over 7 per cent and poised to touch upwards of USD 20 billion by next year.

In a statement, Verifair, organisers of DIFLEX 2023 which will be hosted at Dubai Festival Arena, Dubai Festival City, said that over 250 top notch footwear, leather and leather accessories producers from across the world are participating at this one-of-its-kind event, showcasing over 10,000 product lines.

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Business & Investments

CIPD and HNI partner to bring customized learning solutions to organizations in the region

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Collaboration to promote excellence in human capital development across MENA

George Hanna, CIPD Regional Head of Business Development – MENA, Stuart Dunlop, CIPD Regional Director – MENA, Hanan Nagi, CEO & Founder of HNI, Peter Aziz, HNI Regional Director

November 29,2023, Dubai, UAE:Dubai-headquartered learning and development consultancy, HNI, has announced the launch of a partnership with Chartered Institute of Personnel and Development (CIPD), to bring new corporate training solutions to support organizations in Saudi Arabia achieve their human capital development goals in line with Vision 2030. The collaboration will provide innovative corporate training solutions and services across KSA and beyond.

Stuart Dunlop, CIPD Regional Director – MENA and Hanan Nagi, CEO & Founder of HNI

Signed in November 2023 by HNI Founder & CEO, Hanan Nagi, and CIPD Regional Director – MENA, Stuart Dunlop, the agreement establishes a framework for the two organizations to work together to share the CIPD learning and development solutions with the Saudi market. It will also promote the delivery of a selection of CIPD short courses for HNI’s existing clients in the Kingdom, which include topics such aslocal labour laws, organization design, talent management and workforce wellbeing.

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Business & Investments

ThreeEightSix boosts regional capacity for transition to solar PV power

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Renewable energy investment platformencourages organizations to harness solar energy

November 29,2023, Dubai, UAE: Regional energy company, ThreeEightSix, is set to boost green fuel capacity through solar energy assets within the GCC, as it supports more businesses and government organizations to harness the power of the sun. With flagship projects in Saudi Arabia and Dubai, the renewable energy investment platform is championing the use of solar power in a bid to support national transition strategies and global net-zero targets.

Solar installations support the transition to global net-zero targets

ThreeEightSix is among the regional organizations leading the change in the move towards renewable power production and efficient consumption. As an energy company, Three Eight Six builds, owns and operates PV assets, supporting the region’s commercial and industrial and small and mid-utility scale sectors to make their transition to green energy, reduce business operating costs and achieve cost predictability up to 30 years.

Ahmad Al Khayyat, Chairman, Three Eight Six

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