Banque Misr has appointed Dubai-based Ahmed Zekry (pictured) as its new head of legal managing international branches. Zekry joined the executive management team and reports to Mr. Khaled El-Bialy, Banque Misr CEO in UAE. Zekry has joined Banque Misr from Emirates Development Bank where he most recently served as head of legal and compliance, a […]
Deal & transactions
Transport
United Arab Emirates
Emirates and Air Canada enter into a strategic partnership agreement
Emirates has formed a strategic partnership with Air Canada, Canada’s flag carrier and a founding member of Star Alliance. The agreement will create more options for customers when travelling on the carriers’ networks while
Deal & transactions
News
United Arab Emirates
Meysan Partners partners up with Emirati firm Abdulla Al Najjar
Abdulla Al Najjar Advocates and Legal Consultants, a Dubai-based law firm, has joined Meysan Partners to serve the latter’s clients in the United Arab Emirates in all types of litigation matters. Abdulla Alnajjar Advocates &
Banking & Finance
Capital Markets
United Arab Emirates
Mashreq Bank prices its Inaugural USD300m Additional Tier 1 Offering
Mashreq Bank (“Mashreq”) has announced the pricing of an aggregate principal amount of USD300 million of its 8.500% Perpetual Non-callable 5-year Additional Tier 1 Notes. The offering closed on 7 July 2022, subject to customary closing conditions. The issuance
IPOs
Real Estate, Construction & Infrastructure
United Arab Emirates
Tecom Group completes DFM listing and raises USD462m in IPO
Tecom Group, a manager and operator of 10 strategic, sector-focused business districts across Dubai, has successfully raised approximately AED 1.7 billion (USD462.8m) through an initial public offering (“IPO”). The Group has listed on the Dubai Financial
Deal & transactions
Insurance
United Arab Emirates
Dar Al Takaful and Watania merge to create UAE’s largest
Shari’ah-Compliant insurance companies Dar Al Takaful (“DAT”) and National Takaful Company (“Watania”) have completed their merger effective on 01 July 2022 pursuant to the merger plan announced on 3 March 2022. As part of the merger completion
UAE-based fintech YAP, a digital banking platform, has raised USD41 million in a pre-series A funding round to fund its operations and growth. The round was led by Saudi Arabia’s investment company Aljazira
Banking & Finance
Deal & transactions
United Arab Emirates
Bahrain Bourse and ADX launch Tabadul Exchange Hub
Bahrain Bourse (BHB) and Abu Dhabi Securities Exchange (ADX) have launched the GCC’s first digital exchange hub – Tabadul. The exchanges commemorated this landmark achievement towards the launch of Tabadul with an official
Banking & Finance
Food & Beverage
United Arab Emirates
Food tech startup Supy raises USD8m in seed financing round
UAE-based B2B food marketplace, Supy, raised USD8 million in a Seed round led by Beco Capital with participation from existing investors including Valia Ventures and Cotu Ventures, Global Ventures and Amk Investment Office.
Banking & Finance
Deal & transactions
United Arab Emirates
Emirates NBD Group and BNY Mellon announce strategic alliance
Global investment company, BNY Mellon and Emirates NBD, a banking group in the MENAT (Middle East, North Africa and Turkey) region, have entered a strategic alliance aimed at accelerating the growth
