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Dubai’s government authorities are now mandated by law to provide digital services to their citizens. Law No. (9) of 2022 was issued by His Highness, the Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the United Arab Emirates. The law aims at bolstering the emirate’s digital transformation, […]
Elon Musk disclosed on Monday that he had bought a 9.2% passive stake in Twitter Inc. Musk holds 73,486,938 shares of common stock in his personal capacity, according to a regulatory filing. This makes him Twitter’s largest shareholder. As a passive investor, Musk typically should not play an active part in running the company. However, […]
The cloud security innovator Orca Security, has announced its extended Series C fundraising of $550mn led by Temasek, a Singaporean investment company. The funding round brings the 2-year-old company’s total raised to $632 million and boosts its valuation to $1.8 billion. It joins the ranks of L.A. tech companies like Whatnot Inc. and Liminex Inc., […]
The Dubai Department of Finance (DoF) announced a new public-private partnership ( PPP ) project portfolio worth over Dhs25bn across several vital sectors. The portfolio includes more than 30 projects in the public transportation, infrastructure, and urban development sectors. The latest projects were announced at the Dubai International PPP Conference being held at Expo 2020, […]
The German conglomerate JAB Holding company plans to invest $5 billion to expand transactions in petcare sector. The holding company runs Panera Bread, Pret A Manger and Krispy Kreme. The establishment that oversees the assets of German billionaire Rayman family Over the past seven years, two people who are directly aware of the issue have […]
The leading global provider and manager of alternative investment products, Investcorp, announced that it has successfully completed the acquisition of a portfolio of seven UK industrial assets (“the Portfolio”) from Custodian REIT, for £32.6 million. The Portfolio comprises two multi-let and five single-let industrial properties located in Bedford, Warrington, Stone, Gateshead, Stockton-on-Tees, Christchurch and Aberdeen. […]
Paypal has announced that it has launched its new service to buy, hold and sell cryptocurrency in United Kingdom . The company marks its first international expansion of PayPal’s cryptocurrency service beyond the U.S. Customers can choose from four types of cryptocurrencies—Bitcoin, Ethereum, Litecoin and Bitcoin Cash. By accessing their PayPal account via the website […]
The investment company BlackRock to invest $400M in mubadala Capital, the asset management subsidiary of Mubadala Investment Company (Mubadala). The BlackRock-led investment was made into a portfolio of assets currently managed by Mubadala Capital, in addition to a $400 million commitment into Mubadala Capital’s third private equity fund (Fund III). The partnership between BlackRock and […]
The Fintech digital platform Nextpay announced a increase of $1.6 million in seed funding round Singapore-based venture capitalist Golden Gate Ventures and Gentree Fund led the oversubscribed seed financing round. Golden Gate Ventures has interests in digital leaders such as Omise, Codapay, BukuWarung, Stripe, and Xendit, while Gentree Fund is a private investment vehicle of […]
The battery cell manufacturer SK Innovation to split its battery and petroleum divisions into two new entities to improve its growth. In a press release SK Group company said the envisioned SK Battery will focus on midsized and large electric vehicle batteries, battery metal recycling, battery rental service and energy storage systems businesses. The other […]
The soft drink manufacturer PepsiCo has announced to sell its juice brands to PAI Partners for $3.3 billion. The Juice brands include Tropicana, Naked and other select brands across North America, the deal with French private equity firm PAI Partners will net pretax cash proceeds of $3.3 billion for Pepsi. The Chairman and Cheif Executive […]
The energy company SSE has agreed to sell its stake in gas distribution operator Scotia Gas Networks Ltd for £1.225 billion. SSE had initially acquired a 50% equity share in Scotia Gas Networks in 2005 for a total of £505m, before selling a 16.7% stake to a wholly owned subsidiary of the Abu Dhabi Investment […]
