Rasan Information Technology Co., a prominent Saudi fintech player, is gearing up for a significant move into the public market. The company has announced plans to sell a 30% stake through an Initial Public Offering (IPO), with the aim of listing its shares on Riyadh’s Tadawul exchange. In collaboration with its stakeholders, Rasan will offer […]

Global asset management giant BlackRock has unveiled a landmark collaboration with Saudi Arabia, signaling a significant milestone in the evolution of Middle Eastern finance. Facilitated by a substantial $5 billion investment from Saudi Arabia’s Public Investment Fund (PIF), this partnership aims to establish BlackRock Riyadh Investment Management (BRIM), a dynamic investment platform tailored for the […]

In a significant stride towards fortifying Indonesia’s technological infrastructure, Microsoft announced a substantial investment of $1.7 billion over the next four years. CEO Satya Nadella unveiled this commitment during a high-profile meeting with Indonesian President Joko Widodo in Jakarta. The investment is strategically allocated to bolster Indonesia’s cloud computing and artificial intelligence (AI) capabilities. With […]

In a bid to solidify its position in the semiconductor market, the Italian government has announced a significant investment of $10 billion earmarked for the industry this year. This ambitious move reflects Italy’s determination to emerge as a major player in microelectronics within the European landscape. During a recent gathering of the ruling party Fratelli […]

Investors, both local and global, have injected over $700 million (approximately P40 billion) into the Philippines’ digital banking sector, marking a significant milestone in the industry’s growth trajectory. Since its establishment in 2021, the Digital Bank Association of the Philippines (DiBA PH) has played a pivotal role in attracting substantial investments to the country’s digital […]

 Fakeeh Care Group, a prominent private hospital chain in Saudi Arabia, has declared its intention to go public through an Initial Public Offering (IPO). The company, known for its family-owned heritage and strong presence in key cities like Jeddah and Riyadh, plans to offer a 21.47% stake through a combination of new and existing shares. […]

Malaysia has unveiled the ‘Golden Pass’ scheme, a strategic initiative aimed at positioning the country as a prime destination for unicorn start-ups and venture capitalists (VCs). Spearheaded by Malaysian Economy Minister Rafizi Ramli, the scheme is part of a broader effort to stimulate the growth of high-skilled, high-value job opportunities in Southeast Asia’s business hub. […]

Fortis, a Dubai-based fintech firm specializing in retail solutions, has successfully closed a $20 million Series A funding round. Led by Opportunity Venture (Asia), a prominent fund based in Hong Kong, this investment is earmarked for accelerating Fortis’s expansion across the Middle East and North Africa (MENA) region. Alberto Caruso, Founder and CEO of Fortis […]

In the wake of recent extreme weather events, including unprecedented flooding, UAE insurers are gearing up for an influx of claims. The country experienced its heaviest rainfall in over 75 years, causing widespread disruption and damage. A report by AM Best, a leading credit rating agency specializing in insurance, highlights the potential impact on insurers. […]

In a strategic move indicative of its ambitious expansion plans, Abu Dhabi National Insurance Co. (ADNIC) has successfully acquired a controlling stake of 51% in Allianz Saudi Fransi Cooperative Insurance Co., a prominent insurer listed in Saudi Arabia. The transaction, valued at a significant $133.1 million (499 million riyals), marks a substantial milestone for both […]