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 process, trading in Watania shares on Abu Dhabi Securities Exchange (ADX) has ceased as of the closing of […]
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.
Italian luxury sports car manufacturer, Ferrari, in collaboration with Egyptian Automotive Importer Ezz Elarab Group, launched its official service center and authorized showroom in Egypt. The new partnership with Ferrari was celebrated with a grand
Deal & transactions
TMT
United Arab Emirates
AIQ and MBZUAI collaborate to energize research into AI technologies
AIQ, a joint venture between ADNOC and G42, and Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) have signed a memorandum of understanding (MoU) related to joint research into AI related technologies with an emphasis
Deal & transactions
Egypt
Real Estate, Construction & Infrastructure
AlQamzi Developments to inject EGP14bn investments in Egypt
AlQamzi Developments has unveiled its strategic expansion plan in the Egyptian market, saying that it will inject investments worth EGP14bn in the span of four years. Yasser Zidan the Egyptian partner and executive
In celebration of the ninth edition of Save the Brand, last night the Four Seasons in Milan witnessed the Awarding of 30 companies in the Food & Beverage sector, an event organized by LC Publishing Group –
Deal & transactions
Healthcare, Pharma & Life Sciences
United Arab Emirates
GluCare.Health partners with Novo Nordisk on its weight management pilot
GluCare.Health, a hybrid digital therapeutics company focused on diabetes, have signed a partnership agreement to launch a value-based weight management pilot with Danish multinational pharmaceutical company, Novo Nordisk. Set to begin in September 2022, the
e& enterprise, part of e& (formerly known as Etisalat Group), and Hub71, Abu Dhabi’s global tech ecosystem, have entered into a definitive agreement to launch the region’s first AI Centre of
Banking & Finance
Food & Beverage
United Arab Emirates
Pure Harvest Smart Farms raises USD 180.5mln in latest financing
Pure Harvest Smart Farms (“Pure Harvest”), sustainable technology-enabled agribusiness headquartered in the United Arab Emirates, raised USD $180.5 million in their latest funding round. The oversubscribed funding round was led by existing investors including South
Deal & transactions
Oil & Gas
United Arab Emirates
TAQA and ADNOC come together to acquire Masdar stake from Mubadala
Abu Dhabi National Energy Company (TAQA), Abu Dhabi National Oil Company (ADNOC) and Mubadala Investment Company have entered into binding agreements for TAQA and ADNOC to purchase stakes in Abu Dhabi Future Energy Company (Masdar)
