Category Archives: Business & Investments

Business & Investments

L&T Construction Wins Orders (Large*) in GCC, India and Malaysia for its Power Transmission & Distribution (PT&D) Business

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L&T Construction Wins Orders (Large*) in GCC, India and Malaysia for its Power Transmission & Distribution (PT&D) Business

DUBAI/RIYADH, October 30, 2023: The Power Transmission & Distribution business of L&T Construction has secured key orders in Saudi Arabia, Kuwait, Qatar, India, and Malaysia, in the current quarter.

In Saudi Arabia, an order for turnkey construction of a 380kV Substation with associated overhead transmission lines has been won.

Another order has been bagged in the State of Kuwait to build 5 Substations to provide reliable and efficient power supply to an upcoming residential city.

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Business & Investments

OPSWAT opens regional office in Dubai to support industrial sector fight against cyberthreats

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OPSWAT opens regional office in Dubai to support industrial sector fight against cyberthreats

The company’s Middle East, Turkey, and Africa office will feature a state-of-the-art Critical Infrastructure Protection lab, which will allow customers and partners to witness IT-OT security solutions in action

Dubai, United Arab Emirates – October 30, 2023 – OPSWAT, a global leader in Critical Infrastructure Protection (CIP) cybersecurity solutions, today announced the opening of its Middle East, Turkey, and Africa (META) regional office in Dubai, United Arab Emirates, following GITEX earlier this month. The move is aimed at answering the increasing demand across the region for zero-trust cybersecurity solutions capable of safeguarding critical infrastructure.

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Business & Investments

CCAvenue.ae to revolutionize the UAE Market with Cutting-Edge Mobile-Based

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UAE Debut: CCAvenue.ae Forays into Global Offline Payment Solutions Arena

CCAvenue.ae to revolutionize the UAE Market with Cutting-Edge Mobile-Based

QR Code Payment Technology

UAE, October 30, 2023 – The UAE-based subsidiary of Indian fintech company Infibeam Avenues Ltd, Avenues World FZ LLC, which owns and operates UAE’s largest payment gateway brand – CCAvenue.ae announced the introduction of its mobile-based QR Code payment solution in the United Arab Emirates (UAE) market for merchants to tap into burgeoning offline payments landscape. It is a pivotal and strategic move marking the company’s debut on the international stage of offline payment solutions, starting with the UAE market.

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Business & Investments

ARAB BANK GROUP REPORTS NET PROFITS OF $630 MILLION FOR THE FIRST NINE MONTHS OF 2023

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ARAB BANK GROUP REPORTS NET PROFITS OF $630 MILLION FOR THE FIRST NINE MONTHS OF 2023

Dubai, UAE, 29 October 2023: Arab Bank Group delivered strong financial performance in the first nine months of this year, reporting net income after tax of $630.3 million compared to $405.8 million for the same period last year with an increase of 55%.

The Group maintained its strong capital base with a total equity of $10.8 billion. Loans grew to $36.3 billion and deposits reached $49 billion. Excluding the impact of devaluation of several currencies against the US dollar, loans and deposits grew by 4% & 5%, respectively.

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Business & Investments

HONEYWELL’S INAUGURAL MIDDLE EAST SUSTAINABILITY SUMMIT

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HONEYWELL’S INAUGURAL MIDDLE EAST SUSTAINABILITY SUMMIT TO HELP ADVANCE SAUDI ARABIA’S NET ZERO GOALS

Honeywell underscores importance of partnership between industry and public sector leaders across Saudi Arabia to advance sustainability objectives

Honeywell has hosted its inaugural Middle East Sustainability Summit in Saudi Arabia, aimed at accelerating collaboration on technology development and best practice in support of the Kingdom’s – and wider region’s – ambitious sustainability goals.

The summit provided a forum for discussion on latest technologies and innovation pathways toward a sustainable energy transition and on driving the decarbonization of industry, in line with MENA Climate Week and COP28.

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