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Press Dossier   By Date  31/08/2024
Regional venture activity sees mix of funding, acquisitions, and accelerator graduations
The startup ecosystem in the Middle East continues to evolve, marked by significant funding rounds, strategic acquisitions, and new investment initiatives.
Saudi Arabia records 21% surge in credit card loans to reach $8bn
Saudi banks recorded a 21 percent annual surge in credit card loans in the second quarter of 2024, reaching SR30.04 billion ($8.01 billion), according to official data.
DMCC announces 21% increase in registered Colombian companies
The Dubai Multi Commodities Centre (DMCC) has announced a 21 per cent rise in the number of companies joining from Colombia since the start of the year.
Emirates offers access to 1,700 cities beyond its network
In the past year, Emirates has doubled the number of cities it offers beyond its network, unlocking travel opportunities to nearly 1,700 additional cities. This has enabled an average of over 61,000 passengers to seamlessly connect on the shared networks of Emirates and its partners every week.
NMDC Energy’s IPO oversubscribed
NMDC Group (NMDC) announced on Friday that the Initial Public Offering (IPO or Offering for 1.15 billion shares (Offer Shares) in its wholly owned subsidiary.
Besix, AlBawani break ground on key Aramco Stadium project
lgian infrastructure major Besix has joined hands with Saudi-based AlBawani to break ground on the prestigious stadium project of Saudi oil giant Aramco. Designed to accommodate 47,000 spectators, the Aramco Stadium will be delivered by 2026.
Empower awards design contract for second JVC cooling plant
Emirates Central Cooling Systems Corporation (Empower) has awarded the design contract for its second district cooling plant coming up in Jumeirah Village. The construction of the new plant is scheduled to begin in the first quarter of 2025.
Abu Dhabi exchange's ETF trading for Jan-Aug hits $507m
The Abu Dhabi Securities Exchange (ADX) has recorded significant value and volume of trading in exchange-traded funds (ETFs) since the beginning of this year, thus making it the most active and liquid ETF market in the Middle East and North Africa (Mena) region, reported Wam, citing ADX data.
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