Peach Cars, a prominent player in the Kenyan used car market, has joined forces with Umba Microfinance Bank (UMB) to introduce a groundbreaking 24-hour car financing option for its clients. Industry sources added that this partnership displays a significant stride towards making car ownership more accessible and convenient, aligning with Peach Cars’ vision of revolutionizing the car-buying experience. Industry sources further added that this partnership between Peach Cars and Umba Microfinance Bank focuses on boosting car buyers by offering swift and hassle-free access to financing solutions ..read more

Emaar, The Economic City, the master developer of King Abdullah Economic City (KAEC), has signed an agreement with Aramex, a leading global provider of comprehensive logistics and transportation solutions. Industry sources added that this partnership focuses on implementing sustainable and value-added logistics solutions in KAEC to minimize environmental impact and enhance operational efficiency. From L To R: – Sami Al-Najrani, COO and Advisor to the Chairman, KAEC, Mahmoud Asha, GM for Western Region, Aramex (M), and Abdulaziz Abdullah Al Nuwaiser GM of Aramex (R) The agreement was signed by ..read more

ADNOC, G42 and Presight AI Holding PLC announced a new shareholding structure for AIQ. Under the agreement, Artificial Intelligence (AI) and Big Data Analytics leader Presight will acquire a 51% stake in AIQ with ADNOC retaining a 49% shareholding (previously G42 40%, ADNOC 60%). AIQ will continue as a standalone company, leveraging data to deliver transformational AI-powered solutions to the energy sector. The transaction is subject to Presight’s shareholder and regulatory approval. As part of the transaction, ADNOC will receive 4% in Presight shares currently from G42, in exchange for 11% of ..read more

MYCRANE, the first global platform for online crane rental, is responding to the rapid digital transformation of the Middle East by boosting its team in the region. Syed Ahmed Salman has been appointed as VP sales, Middle East, while Syed Zulnoon Bukhari joins as director of business development, Kingdom of Saudi Arabia (KSA) Andrei Geikalo, MYCRANE founder and CEO Industry sources added that based in Saudi, the two new hires bring decades of experience to MYCRANE. Andrei Geikalo, MYCRANE founder and CEO commented on the appointment “We made a strategic decision to invest in KSA, where th ..read more

MYCRANE, the first global platform for online crane rental, is responding to the rapid digital transformation of the Middle East by boosting its team in the region. Syed Ahmed Salman has been appointed as VP sales, Middle East, while Syed Zulnoon Bukhari joins as director of business development, Kingdom of Saudi Arabia (KSA) Andrei Geikalo, MYCRANE founder and CEO Industry sources added that based in Saudi, the two new hires bring decades of experience to MYCRANE. Andrei Geikalo, MYCRANE founder and CEO commented on the appointment “We made a strategic decision to invest in KSA, where th ..read more

The leading fintech group in the MENA region Multi-Level Group (MLG) is partnering with the Abu Dhabi Investment Office (ADIO) to boost the eVTOL development in the UAE and beyond. Industry sources added that during Abu Dhabi’s inaugural DRIFTx event, a global platform to discuss and engage innovations that will shape the future of mobility, ADIO and MLG signed a trilateral agreement with EHang. Industry sources further added that EHang is poised to set up its regional headquarters in Abu Dhabi to promote business activities with local partners comprising the manufacturing, flight operations ..read more

Aramco, one of the global leading integrated energy and chemicals companies, is exploring the formation of a joint venture (JV) in the Saudi Aramco Jubail Refinery Company (“SASREF”) with Chinese partner Rongsheng Petrochemical Co. Ltd. (“Rongsheng”) and significant investments in the Saudi and Chinese petrochemical sectors, in partnership with Rongsheng.   Industry sources added that the firm has recently signed a cooperation framework agreement that envisions Rongsheng’s potential acquisition of a 50% stake in SASREF. The agreement also lays the groun ..read more

Group-IB, announced recently that it has signed a MOU with National Security Services Group L.L.C (NSSG), to establish a framework where NSSG will offer Group-IB’s Threat Intelligence, Fraud Protection, Digital Risk Protection, Managed Extended Detection and Response (XDR), Business Email Protection, and External Attack Surface Management solutions, as well as Digital Forensics and Incident Response (DFIR), High-Tech Crime Investigation, Auditing and Consulting, and Education and Training services to strengthen cybersecurity for its clients within the government, finance, oil and gas, and tele ..read more

Anxinsec, a global cybersecurity company headquartered in Abu Dhabi, has signed an MOU with the Cyber Security Council to strengthen collaboration in the field of cybersecurity. H.E. Dr. Mohammed Al Kuwaiti, Head of the Cybersecurity Council for the UAE Government, and Anxinsec’s Chairman, Alex, signed an MOU at the UAE’s largest cybersecurity event, GISEC Global 2024. The primary objective of this partnership is to enhance joint efforts between Anxinsec and the Cyber Security Council to establish advanced capabilities in information technology, network threat detection and response, and incid ..read more

Dubai World Trade Centre Cluster (DWTC) has appointed CA Anirudh Chaturvedi as the new Cluster Director of Finance at Novotel World Trade Centre, Ibis World Trade Centre, and Ibis One Central. Industry sources added that with an elaborate background in finance hospitality and over 13 years of industry experience & serving the Middle East region (UAE & Qatar) for the past 6+ years, Mr. Chaturvedi is poised to bring a wealth of knowledge and expertise to this prestigious role. Anoop Dhondoo, Regional General Manager of Dubai Central Anoop Dhondoo, Regional General Manager of Dubai ..read more