Bank Albilad, a Saudi joint stock company, headquartered in Riyadh, has successfully carve out of its remittance business, Enjaz, into a new payment services company. The new company has been licensed by the Saudi Central Bank (“SAMA”) as a major electronic money institution (EMI) under its Payment Service Provider Regulations. The payments and remittances activities, […]
Deal & transactions
TMT
United Arab Emirates
Beeah Digital and Khazna Data Centers join forces on JV
Beeah Digital, Beeah Group’s digital transformation and future technology business, and Khazna Data Centers (“Khazna”), wholesale data centre providers in the MENA Region, have formed a joint venture that will bring to Sharjah
Commercial International Bank (“CIB”), a private sector bank in Egypt, has acquired a minority stake of 15% of El Sewedy for Engineering Industries (“SEI”). The acquisition will see SEI expanding in the local and regional
Capital Markets
Energy & Trading
Qatar
United Arab Emirates
Dentons advises Tabreed on the sale of its 44% stake
National Central Cooling Company (“Tabreed”) has disposed of a 44% stake, valued at AED417 million (USD113.5 million), in Qatar District Cooling Company (“Qatar Cool”) to United Development Company. The proceeds of the transaction will be used
Oil & Gas
Private Clients
United Arab Emirates
Clyde & Co represents ABNIC in oil tanker disappearance claim
Global law firm Clyde & Co has successfully represented Al Buhaira National Insurance Company (“ABNIC”) in a marine insurance case in the Dubai International Financial Centre (“DIFC”) Courts. The Clyde & Co team was led
Healthcare, Pharma & Life Sciences
News
Other
Trowers & Hamlins: RCSI Bahrain launches new solar farm project
The Royal College of Surgeons in Ireland – Medical University of Bahrain (“RCSI Bahrain”) has successfully completed the development and launch of its campus solar farm project. Covering 12,000 sqm, the solar farm is expected to be
Deal & transactions
Other
Real Estate, Construction & Infrastructure
Northacre collaborates with St. Regis for No. 1 Palace Street
Northacre, a subsidiary of asset management and investment banking platforms Shuaa Capital, has joined forces with St. Regis hotel brand at No 1 Palace Street. The collaboration on the project located opposite Buckingham Palace, is testament
Banking & Finance
Deal & transactions
United Arab Emirates
First Abu Dhabi Bank enters into a partnership with Silver
First Abu Dhabi Bank (“FAB”) has signed a partnership agreement with Silver Birch Finance Limited (“Silver Birch”) to offer inventory solutions to local and international clients. This partnership enables FAB and Silver Birch
Deal & transactions
Oil & Gas
United Arab Emirates
ADNOC awards an AED2b contract for Lower Zakum field gas line
Abu Dhabi National Oil Company (“ADNOC”) has awarded a AED2.01 billion (USD548 million) contract to build a new main gas line at its Lower Zakum field offshore of Abu Dhabi. The Engineering, Procurement and Construction (
Abu Dhabi-headquartered international energy company, Mubadala Petroleum, has unveiled its new brand name – Mubadala Energy. The new brand reflects a fresh strategic direction that will see Mubadala Energy build on its contribution to the energy
