Category Archives: Business & Investments

Business & Investments

ADQ and ADNEC Group enter into definitive agreements

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ADQ and ADNEC Group enter into definitive agreements to acquire a 40.5 percents take in TMG Holding’s hospitality business in Egypt

  • Acquisition of the stake through a capital increase in TMG Holding’s hospitality arm, ICON,will help continue the development of the luxury hospitality industry in Egypt
  • The transaction will also involve the acquisition of a stake in seven iconic heritage luxury hotels in Egypt which are currently owned by the Egyptian Government through ICON

Abu Dhabi, UAE –12January 2024:ADQ, an Abu Dhabi-based investment and holding company, andADNEC Group (“ADNEC”) today announced the signing of definitive agreements for the strategic acquisition of a 40.5 percent stake in Egypt-based Talaat Moustafa Group Holding’s (“TMG Holding”) hospitality arm, ICON Group (“ICON”) through a capital increase. ADQ and ADNEC will invest through a special purpose vehicle, with 49 percent equity ownership by ADQ and 51 percent equity ownership by ADNEC.

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Business & Investments

Middle East CEOs the Most Forward-Looking | AlixPartners Disruption Index 2024

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CEOsin the Middle East Most Forward-lookingasThey Face a

New Age of Long-term Disruptions

  • 8 in 10regional CEOs (v/s 6 in 10 globally)remain optimistic about the prospects of their economyin 2024
  • Survey findings also reveal AI and automationarethe largest disruptive forces impacting their company

January 11, 2024 –Businesses in the Kingdom of Saudi Arabiaand United Arab Emirates remain optimistic about the prospects for their company (80%) and the overall economy (85%) as they continue to navigate the challenges ahead, working closely with their respective governments.This isaccording to findings from global consulting firm AlixPartners’ Disruption Index (ADI), an annual survey that canvasses more than 3,000 CEOs and executivesfrom around the world to uncover the latest global business concerns.

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Business & Investments

Sharjah’s DGR explores advancing cultural and trade cooperation with China’s Consul General

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Sharjah’s DGR explores advancing cultural and trade cooperation with China’s Consul General

Sharjah, January 11, 2024

Sheikh Fahim Al Qasimi, Chairman of the Department of Government Relations (DGR) in Sharjah, discussed ways to enhance trade and cultural exchange, foster relationships and partnerships between business communities across various sectors, and promote scientific and intellectual exchange between cultural institutions, with a high-level Chinese diplomatic delegation headed by HE Li Xuhang, Consul General of the People’s Republic of China.

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Business & Investments

Successful Gulf Print & Pack 2024 comes to a close

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Successful Gulf Print & Pack 2024 comes to a close

DUBAI – January11, 2024: Gulf Print & Pack 2024, the leading print technology trade show for printers and Print Service Providers (PSPs), concluded todayat Dubai World Trade Centre, having seen strong regional participation and the unveiling of many cutting-edge products and solutions.

Acrossa busy three days, over 250 exhibitors,showcased their latest machinery, materials and software to regional buyers.

Mr.Nayyar Ansari, Business Development Manager, Konica Minolta said: ” Gulf Print & Pack 2024 has been very productive for Konica Minolta. We invited potential customers from our partners across the GCC, to witness the power of digital print, embellishment, and labeling. As a result, we have sold 5 production machines and two AccurioShine 3600 units during the show.”

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Business & Investments

Navigating Retail’s Future: Saudi Retail Forum 2023 Sets the Stage for KSA’s Vision 2030

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Navigating Retail’s Future: Saudi Retail Forum 2023 Sets the Stage for KSA’s Vision 2030

  • “Good service is all about rising the bar, the more the tailored service, the more the loyalty from the customers” Majed M. Al Tahan Founder & CEO, AYM Commerce and Co-Founder & MD, Danube Online.
  • “Rising influence of female consumers, projecting 85% discretionary spending by 2030.”, saidShehim Muhammed, Director of LuLu Saudi Hypermarkets.”
  • Neeraj Teckchandani, Group CEO of Apparel Group shared, “Sustainability practices are surging, with consumers willing to pay 30-40% more.”
  • “Willingness to pay extra for sustainability, with 20% open to an 11-20% price increase.”, commented, Toufic Kreidieh, Founding Partner and CEO of Brands For Less.
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