Saudi food company Al Babtain said it has agreed to sell its entire 3% stake in Jordan-based Chocolate Lake Company to Dubai group Indulgent Food International Holding. The deal is part of Indulgent Food's acquisition of a 70% stake in the confectionery maker from existing shareholders.
Investcorp, a leading global alternative investment firm, today announced that it has invested in Berger Financial Group, a leading full-service wealth management platform providing comprehensive financial advisory services to individual investors and retirement savers across the United States.
Saudi Arabia's sovereign wealth fund PIF has anchored the first close of Brookfield Middle East Partners, a new private equity fund focused on Saudi Arabia and the wider Middle East, helping raise about $2 billion alongside other institutional investors.
CB&I, a global EPC company, said its asset solutions business has secured a well engineering services contract from UAE-based Cosmo E&P Albahriya to support drilling, engineering, planning and operational activities at Offshore Block 4 in Abu Dhabi.
Technology company Robo.ai has joined hands with Abu Dhabi-based Eleven International Holdings to set up a new venture, Alif Holding, that will develop intelligent software and smart equipment for government, infrastructure and industrial sectors across GCC and other key global markets.
Explosions hit a natural gas loading port on the Mediterranean Sea in Egypt on Wednesday, and British maritime security company Ambrey said a US-owned floating storage tanker there had been hit by a drone, said media reports in a potential spread of the Middle East war.
Ebara Elliott Energy (EEE) has secured one of the largest contracts in its 110-year history, winning a major order from Larsen & Toubro (L&T) to supply advanced compressor technology for a mega-scale gas infrastructure project in the Middle East.
Al Seer Marine, a subsidiary of Abu Dhabi-based International Holding Company, has recorded a total revenue of AED579 million ($158 million) for the first six months, thus demonstrating the strength of its underlying commercial operations and its ability to maintain robust performance.
Saudi Basic Industries Corporation (Sabic) reported revenue of SAR 24.81 billion ($6.62 billion) for the second quarter of 2026, down 5 per cent compared with the previous quarter, as the company navigated geopolitical uncertainties, supply disruptions and elevated energy costs.
The Gulf's wave of investment in new cities and mixed-use developments presents a major opportunity to expand on-site renewable energy, with large-scale projects able to meet up to 35% of their electricity demand through solar power, an industry expert said.
