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One of the biggest oil and gas drilling companies in Saudi Arabia, Arabian Drilling Co., has declared its intention to float its common shares in an IPO on the Saudi main index. According to a filing with the stock exchange, Arabian Drilling said that the company would sell existing shares totalling 19.98% of its post-listing […]
Geradin Partners, a law firm representing publishers will soon launch two lawsuits in British and Dutch courts against Alphabet subsidiary Google over its digital advertising tactics, seeking damages in the amount of up to 25 billion euros ($25.4 billion). “It is time that Google owns up to its responsibilities and pays back the damages it […]
One of Kuwait’s largest privately-owned companies, Alghanim Industries Ltd., is looking to raise nearly $1 billion through a prospective IPO, according to sources with knowledge of the situation. According to sources, the family-run company, which has a history dating back more than 100 years, is collaborating with banks on the potential listing, including Credit Suisse […]
After the lifting of COVID limitations sparked a robust comeback in travel demand, shocking the market and pushing its shares up 6%, Qantas Airways Ltd said on Thursday that it will buy back up to A$400 million ($276 million) of shares. Although the rush to travel once borders opened increased its second-half profitability and assisted […]
Burjeel Holdings, the top healthcare provider in the UAE, and the Ministry of Investment of Saudi Arabia have signed a memorandum of understanding (MoU). The private healthcare firm will partner and work with institutions and healthcare organisations in accordance with the agreement and will invest up to $1 billion in the kingdom by 2030. In […]
According to a new filing, Saudi Arabia’s sovereign wealth fund has invested hundreds of millions of dollars in multiple US enterprises, around $7.5 Billion. With such investments, the Gulf kingdom continues to seek economic diversification vigorously. At the conclusion of the second quarter, the market value of the sovereign fund’s investment portfolio was $40.8 billion. […]
On Sunday, a US congressional delegation led by Rep. Ed Markey landed in Taiwan, less than two weeks after China held a series of military drills in retaliation for House Speaker Nancy Pelosi’s visit to the island. During their two-day tour to the island, the five MPs are slated to see President Tsai Ing-wen, amid […]
More than 45 start-ups worth at least $1 billion are predicted to emerge from the Middle East and North Africa by 2030, headed by Saudi Arabia. The Saudi technology venture capital fund said in a study released on Tuesday that the acceleration of the start-up ecosystem is being driven by a growing talent pool, technology […]
In an effort to increase its contribution to the emirate’s economy by 2030, the Dubai International Financial Centre is establishing a Global Family Business and Private Wealth Centre. The DIFC Authority’s board of directors has authorised the world’s first business centre, which will be formally opened next month, on September 1. The centre will bring […]
Alibaba intends to add a primary listing in Hong Kong to its New York presence, seeking mainland Chinese investors as the first major corporation to take advantage of a regulation change in the financial centre to attract high-tech Chinese enterprises. Alibaba’s Hong Kong-listed shares increased by 6%. The shares of the tech titan are already […]
The 65-year-old billionaire Mukesh Ambani has begun the early phases of succession planning at his energy-to-technology giant Reliance Industries Ltd, designating two of his children as the chiefs of major companies in his $217 billion empire. Akash Ambani, the 30-year-old son of Reliance Industries Ltd (RIL) chairman Mukesh Ambani, was chosen chairman of Reliance Jio […]
Cybersecurity attacks are a persistent issue, particularly for Middle Eastern businesses and organizations. These threats can halt operations, damage a company’s reputation, and result in costly legal action. The more technology a company relies upon, the more vulnerable it is to cyberattacks and challenges. Hackers are increasingly focusing on Middle Eastern firms that are converting […]
