Business & Investments

Arab Financial Services Expands into UAE to Advance Digital Payments Ecosystem

Dubai, UAE – 27 January 2025: Arab Financial Services (AFS), a leading provider of digital payment solutions and a prominent fintech enabler across the Middle East and Africa, announced its strategic expansion into the United Arab Emirates (UAE).

This move follows the successful acquisition of a Retail Payment Services License – Category II from the Central Bank of the UAE by Arab Financial Services L.L.C, allowing AFS to introduce a comprehensive suite of innovative and secure payment solutions tailored to the country’s dynamic financial landscape.

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Automibiles & Motoring

EXEED appoints Al Ghurair as Exclusive Distributors in KSA

  • The strategic partnership positions Al Ghurair as the exclusive distributor in UAE and KSA
  • Al Ghurair will integrate its innovative customer-centric approach, reinforcing EXEED’s market position in the Kingdom

GCC, 27 January 2025: Al Ghurair, one of the largest diversified family business groups in the Middle East, is proud to announce its partnership with EXEED Automobile Company as the automotive brand’s exclusive distributor in the Kingdom of Saudi Arabia (KSA). The partnership expands Al Ghurair’s footprint in the GCC automotive sector, following its selection as EXEED’s exclusive distributor in the UAE in 2023.

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Business & Investments

BCCD finance experts explore challenges and opportunities of new UAE corporate tax system

Panel discuss optimisation, investment and compliance under new governing laws

January 28,2025: Dubai, UAE: A panel of experts convened by the British Chamber of Commerce Dubai (BCCD) has revealed some of the challenges and opportunities for businesses operating under the new UAE corporate tax system. Following recent updates to governing laws, the panel discussion explored a range of themes, including tax optimisation, boosting foreign investment, and streamlining processes for compliance.

Opening the event, Dr. Peter Wilson, Founder and Global Tax Advisor at PB First Global Tax, provided an overview of the updated regulations issued in the Ministerial Decision of December 2024, highlighting changes in tax grouping compliance compared to the Ministerial Decision issued in 2023. Dr. Wilson also discussed the scope of the recently introduced Domestic Minimum Top Up Tax (DMTT), as well as its provisions for refundable tax credits for R&D and high value employment activities.

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Business & Investments

UAE Ministry of Finance and CIPS partner to launch groundbreaking Diploma in Procurement and Supply

Practitioner level certification to enhance government procurement excellence, drive sustainability and support UAE’s Vision 2031 goals

Dubai, UAE; Jan 28, 2025: The Chartered Institute of Procurement and Supply (CIPS) has signed a Memorandum of Understanding (MoU) with The Ministry of Finance to launch the CIPS Practitioner Level Diploma in Procurement and Supply 2025, a leading initiative designed to strengthen national competencies, drive innovation in the government sector, and boost the UAE’s global competitiveness.

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Health Care

PureHealth acquires Majority Stake in Hellenic Healthcare Group in USD 2.3 Billion Transaction

  • Reinforces PureHealth’s global presence through a strategic partnership with existing backer CVC Capital Partners (“CVC”)
  • Hellenic Healthcare Group (“HHG”) has grown strongly in recent years and is today a leading provider in European healthcare with 10 hospitals and 16 diagnostic centres across Greece and Cyprus
  • The acquisition once complete, will integrate HHG infrastructure and services into PureHealth’s network, extending services to approximately 1.4 million patients annually

Abu Dhabi, 27 January 2025 – PureHealth Holding PJSC (“PureHealth” or “the Group”) (ADX Symbol: PUREHEALTH), the largest healthcare group in the Middle East, has agreed to acquire a 60% stake in Hellenic Healthcare Group (HHG), the largest private healthcare provider in Greece and Cyprus, in a transaction that values HHG at USD 2.3 billion. HHG is currently owned 90% by CVC Capital Partners VI and 10% by the founder of HHG. PureHealth will acquire a 60% stake in HHG, with CVC Capital Partners retaining 35% ownership, while the remaining 5% stake in the company is held by the founder.

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