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FOUND: 3 | Mind Blowing Facts

Saudi PIF Close to Buying Stake in Starbucks Middle East

The Saudi Public Investment Fund (PIF) has been shortlisted to buy a stake in the Middle East, North Africa, and central Asia Starbucks franchise held by Alshaya Group, revealed sources. The Starbucks franchise has several hundred outlets in 14 countries across the Middle East, Russia, and central Asia. Last year,…

Asharq Al-Awsat

UAE, Egypt, Jordan Sign Industrial Partnership in 5 Sectors for Sustainable Economic Growth

The United Arab Emirates, Egypt and Jordan announced on Sunday an integrated Industrial Partnership for Sustainable Economic Growth in Abu Dhabi. The partnership agreement aims to unlock new industrial opportunities and enhance sustainable economic growth in the three countries, across five promising industrial sectors, namely food and agriculture, fertilizers, pharmaceuticals,…

Asharq Al-Awsat

Abu Dhabi-based Borouge Sets IPO Price

Abu Dhabi-headquartered petrochemicals firm Borouge said on Monday it has set the offer price for its initial public offering (IPO), which shows it could raise about $2 billion in the deal, and secured seven cornerstone investors. The Abu Dhabi National Oil Company and Borealis' joint venture set the IPO price…

Asharq Al-Awsat

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Abu Dhabi’s ADQ Buys Stakes Worth $1.85b in Egyptian Firms

Abu Dhabi's state holding company ADQ has bought shares worth $1.85 billion in five publicly traded Egyptian companies.

Asharq Al-Awsat

UAE Agtech Right Farm Raises $2.8 Million from Investors

Right Farm, a United Arab Emirates agriculture technology firm, said on Monday it raised $2.8 million from investors including Abu Dhabi state holding company ADQ's venture platform. The company is a business to business digital platform which sources fresh produce from local and international farms for the food and retail…

Asharq Al-Awsat

ADQ, Turkey Wealth Fund Launch $300m Venture Capital Fund

ADQ, an Abu Dhabi-based investment and holding company, and Turkey Wealth Fund (TWF) launched Wednesday a $300 million-tech fund, which will invest in venture capital funds and high-growth potential companies in Turkey. Turkey Technology Fund – ADQ TWF will invest in companies developing emerging technologies or improving existing technologies in…

Asharq Al-Awsat

ADQ, Saudi Technology Ventures Invest in Mideast Uber-like Service for Trucks

Saudi Arabia-based TruKKer, which offers Uber-like services for trucks in the Middle East and elsewhere, said on Monday it has raised just under $100 million through Series B equity and a debt funding round. The investments were led by Abu Dhabi state holding company ADQ and Riyadh-based Saudi Technology Ventures,…

Asharq Al-Awsat

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UAE’s Central Bank Gives Green Light to Launch Digital Bank

The Central Bank of the United Arab Emirates has given the green light to a new digital banking platform known as “Wio” and backed by state holding company ADQ. The bank will soon launch a beta version, initially targeted to small and medium-sized businesses (SMBs). The total invested capital in…

Asharq Al-Awsat

Abu Dhabi’s AD Ports Eyes Trade Routes, Acquisitions

Abu Dhabi's AD Ports Group (ADPORTS.AD) plans to develop extensive trade corridors connecting the United Arab Emirates, with the Middle East, the subcontinent, Africa and elsewhere, executives said on Tuesday, following its share listing. AD Ports Group, controlled by state investor ADQ, made its debut on the Abu Dhabi bourse…

Asharq Al-Awsat

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Mostafa Madbouly

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