Al Ansari completes acquisition of Bahrain’s BFC Group
11/04/2025
Al Ansari Financial Services has finalized its $200 million acquisition of Bahrain’s BFC Group, expanding its presence in Bahrain, Kuwait, and India. This move increases its customer base by 29% and branch network by 60%, establishing it as the largest non-banking financial institution in the Gulf region. The integration aims to leverage digital innovations and AI to enhance efficiency and customer experience.
UAE lender Deem secures $400mln debt financing from JP Morgan
14/04/2025
UAE-based lender Deem has secured up to $400 million in debt financing from J.P. Morgan through a senior revolving facility backed by receivables originated by Deem. This strategic move aims to enhance Deem’s lending capabilities and support its growth initiatives.
Investment insights platform BridgeWise secures Emirates NBD backing
15/04/2025
BridgeWise, an investment insights platform, has secured strategic backing from Emirates NBD. This partnership aims to enhance AI-driven investment analytics and expand BridgeWise’s presence in the UAE market. The collaboration underscores Emirates NBD’s commitment to integrating advanced technologies in financial services.
Agility-owned Menzies acquires US-based G2 for $305mln
15/04/2025
Agility-owned Menzies Aviation is acquiring U.S.-based G2 for $305 million, expanding its operations to over 340 airports across 65 countries with 65,000 employees. The deal, expected to close by June 2025 pending regulatory approval, is projected to boost annual revenue by 20% to over $3.1 billion.
Trafigura secures $235m financing to ship tanker and bulker cargoes from UAE
15/04/2025
Trafigura has secured $235 million in financing from Abu Dhabi Exports Office (ADEX), Japan’s Sumitomo Mitsui Banking Corp (SMBC), and Commercial Bank of Dubai (CBD) to support the purchase and export of tanker and bulker cargoes from the UAE. The initiative aims to bolster UAE exporters and contribute to the country’s economic diversification goals.
Mubadala Energy makes first major US investment with stake in Kimmeridge’s SoTex
11/04/2025
Mubadala Energy has acquired a 24.1% stake in Kimmeridge’s SoTex HoldCo, marking its first major U.S. investment. SoTex owns Kimmeridge Texas Gas, producing over 500 MMcfe/d with plans to reach 1.5 Bcfe/d by 2031, and Commonwealth LNG, developing a 9.3 MTPA liquefaction facility targeting first offtake in 2029. The move aligns with Mubadala’s energy transition strategy and supports the UAE’s 2050 net-zero goals.
Saudi Venture Capital CEO highlights Kingdom’s investments to boost innovation
14/04/2025
Saudi Venture Capital CEO Nabeel Koshak announced that the firm has invested in over 56 funds across various sectors and stages, highlighting the Kingdom’s commitment to innovation. He praised Classera, a Saudi-born edtech company operating in over 40 countries with 50 million users, as a “learning super-platform.” The remarks were made during the Human Capabilities Initiative in Riyadh.
Sadq raises $1.5 million pre-series A led by X by Unifonic Fund
15/04/2025
Saudi digital signature platform Sadq raised $1.5 million (SAR 5.5 million) in a pre-Series A round led by X by Unifonic Fund, with strategic backing from Unifonic. Founded in 2022 by Abdullah Allahuo and Salem Al-Badawi, Sadq offers legally compliant digital signature solutions and holds a Digital Trust Services License from the Digital Government Authority. The funding will support technology scaling, talent acquisition, and expansion across Saudi institutions.
TruBuild Raises $1 Million Seed Round
15/04/2025
TruBuild, a Saudi construction tech startup, raised $1 million in seed funding to enhance its AI-driven platform. The platform aims to reduce inefficiencies in construction, addressing $1.6 trillion in annual losses, and improve project coordination, saving up to 80% of time.
UAE’s Quiqup expands e-commerce logistics services into Saudi Arabia
15/04/2025
UAE-based logistics provider Quiqup has expanded its e-commerce services into Saudi Arabia, supported by the Mohammed Bin Rashid Innovation Fund. The company saw a 77% growth in its customer base in 2023-2024 and aims to enhance regional e-commerce logistics.
Aramex, AI platform Shipsy strike partnership to transform last-mile delivery operations
15/04/2025
Aramex has partnered with Shipsy, an AI logistics platform, to enhance last-mile delivery. The collaboration focuses on improving delivery accuracy, optimizing routing, and increasing courier productivity. Aramex is also testing Shipsy’s Workforce and Territory Optimization tools to reduce costs.
London’s BKN301 Secures $23.8M for Expansion into UAE, Saudi Arabia
15/04/2025
BKN301, a fintech company focused on digital payments and Banking-as-a-Service, raised $23 million to expand in the UAE and Saudi Arabia. The investment will help enhance financial inclusion and scale its payment processing, card issuing, and remittance solutions.
ShopUp and Sary Merge to Form SILQ Group, Backed by $110M Investment
14/04/2025
Bangladesh’s ShopUp and Saudi Arabia’s Sary have merged to form SILQ Group, a B2B platform targeting the Gulf and South Asia markets. The merger is backed by a $110 million funding round led by Sanabil Investments, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), and Peter Thiel’s Valar Ventures. The investment includes equity financing and a financial facility for SILQ Financial, the group’s dedicated financing arm aimed at advancing innovations in SME funding.
China’s Befar Group breaks ground on $500mln chlor-alkali project in Egypt
15/04/2025
It China’s BEFAR Group has commenced construction on a $500 million chlor-alkali project in Egypt’s Sokhna Industrial Zone. The project, situated within TEDA-Egypt’s industrial park, will have a total production capacity of 100,000 tonnes. It is being developed in two phases, each covering 200,000 square meters, with $300 million allocated to the first phase and $200 million to the second. The first phase is expected to be completed within 18 months.
Kuwait unites oil giants: Merger of KNPC, KIPIC begins
16/04/2025
Kuwait has begun the merger of oil giants KNPC and KIPIC as part of a restructuring plan by Kuwait Petroleum Corporation. The merger aims to strengthen the sector, expand capabilities, and align with Kuwait’s Sustainable Development Goals.
ITFC inks $45m energy deal with Comoros
11/04/2025
The International Islamic Trade Finance Corporation (ITFC) has signed a €40 million agreement with Comoros to support its energy sector. The financing aims to enhance fuel supply, promote renewable energy, and align with sustainable development goals.
Dubai’s Majid Al Futtaim announces major $1.3bn Mall of the Emirates upgrade
16/04/2025
Majid Al Futtaim is investing $1.3 billion to upgrade Dubai’s Mall of the Emirates, expanding it by 20,000 square meters with 100 new stores, a wellness club, a cultural hub, and improved infrastructure. The project will complete by late 2026.
