Category Archives: Business & Investments

Business & Investments

Aljomaih Energy and Water-led consortium achieves financial close for Jubail–Buraydah Water Transmission Project

SAR 8.5 billion independent pipeline project finalized in partnership with Buhur Investment Company and Nesma Group

Riyadh, [Oct 31,2025] – Aljomaih Energy and Water Company, in partnership with Buhur Investment Company and Nesma Group, announced the successful financial close of the Jubail–Buraydah Independent Water Transmission Pipeline Project, with a total investment value of approximately SAR 8.5 billion ~ USD 2.26 billion.

The Jubail–Buraydah project will transmit 650,000 cubic meters of desalinated water per day, a storage capacity of 1,634,500 cubic meters, and will extend over a distance of 587 kilometers

The achievement follows the signing of the Water Transmission Agreement between the project company, Stream Water Transmission Company, and the Saudi Water Partnership Company (SWPC). The project ownership structure of the company is divided betweenAljomaih Energy and Water Company holdingat 45%, Buhur Investment Company holding at35%, and Nesma Group holding at 20%.

This milestone represents a major step forward in developing the Kingdom’s first independent water transmission project

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Business & Investments

TCL Reimagines the Future of Air at its Middle East and Africa Air Conference 2025 in Guangzhou, China

Showcasing next-generation innovation, sustainable design, and TCL’s leadership in smart air solutions.

Dubai, UAE – October 28, 2025  – TCL Electronics, a global leader in consumer technology ranked amongst the top two TV brands and a prominent pioneer in home appliances, successfully concluded its Middle East & Africa Air Conference 2025, held on October 21 across Guangzhou, Zhongshan, and Hangzhou, China.

Under the theme ‘Where Air Meets the Future,’ the conference brought together TCL’s key clients, business partners, and media from across the Middle East and Africa to experience the brand’s latest innovations in air conditioning and intelligent manufacturing.

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Business & Investments

Dubai’s Roxtec Middle East marks 25 years in UAE with record sales

Dubai based cable seal provider Roxtec Middle East FZE is celebrating the 25th anniversary of founding in the UAE with its best ever year of trading.

Jebel Ali Freezone headquartered Roxtec Middle East FZE covers the MENA region and started with just two staff members in 2000. Today the Swedish owned company has a team of 35 and posted sales of $15million in the last 12 months – doubling turnover since 2022.

Roxtec Middle East FZE managing director Firas Kafafi said the company is seeing sales spike in line with the MENA region’s expansion in new markets like clean energy and data centres. He said the turbo charged growth in AI and cloud computing has driven the company’s sales in data centres alone by 300 per cent since 2022. More growth is set to come as Roxtec is being specified on the next generation of High-Performance Computing data centres, being built in the UAE to handle intensive AI and Big Data workloads. In addition, clean energy sales have grown by 20 per cent in the last year as Roxtec supplies projects ranging from green hydrogen, carbon capture, battery storage and offshore wind.

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Business & Investments

EY Academy launches flagship IFRS roadshow to support finance leaders across the Middle East in navigating evolving reporting standards

Dubai, UAE – 30 October 2025: EY Academy has announced the launch of its Corporate Reporting Insights Roadshow 2025, a major series of events across key cities in the Middle East designed to equip finance leaders with the skills and insights to navigate upcoming changes to international financial reporting standards.

Fazeela Gopalani, EY MENA Academy Leader. 

With more than 100 amendments and new requirements issued by the International Accounting Standards Board between January 2024 and June 2025, finance teams face a wave of reporting change unlike anything in recent years. The roadshow will provide practical, region-specific guidance on these shifts, helping decision-makers turn regulatory developments into strategic advantage.

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Business & Investments

Italy Secures Third Place Among the UAE’s Top Jewellery Exporters

Exports Reach €736 Million and 9% Market Share in 2025 as Italian Craftsmanship Shines in the Gulf’s Luxury Market

Dubai, UAE – Italy continues to reinforce its position as a global leader in the jewellery and gemstone sector, with exports to the UAE reaching €836.9 million in the first 7 months of 2025, capturing a 7.9% market share and securing the country’s rank as the third-largest jewellery exporter to the Emirates. This growth, up 13.72% year-on-year, reflects strong regional demand for Italian-made jewellery, celebrated for its artistry, innovationand design excellence.

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