BECO Capital invests in first cybersecurity startup in MENA

BECO Capital, a Dubai-based venture capital firm, recently invested in Beirut-based MYKI, a cybersecurity startup that has developed the first advanced password and online identity manager in the region. “They are highly intelligent people who are focused and passionate about the problem and solution,” Amir Farha, BECO Capital's co-founder and managing partner, told Gulf News Journal. Read More »

Dubai chamber promotes trade route partnerships to CIS countries

Leaders from the Dubai Chamber of Commerce and Industry spoke in favor of increased partnership between the UAE and west Asian and Balkan countries during the first Commonwealth of Independent States (CIS) Global Business Forum last month. "The GCC and CIS countries share several similarities, and Dubai can be a valuable partner to the CIS," flydubai CEO Ghaith Al Ghaith said. Read More »

Topaz extends deal to supply BP with 14 ships in Azerbaijan

Dubai-based Topaz Energy and Marine signed an agreement with BP Exploration (Caspian Sea) Limited (BP) to extend current contracts for 14 offshore support vessels until 2023. Topaz will provide BP with 14 vessels for a five-year term with two one-year options to support BP's Azeri-Chirag-Guneshli (ACG) and Shah Deniz II fields in the Caspian Sea off of Azerbaijan. Read More »

Dubai chamber touts UAE role in food chain at Gulfood breakfast gathering

The Dubai Chamber of Commerce and Industry held the Gulfood Breakfast Briefing at the Dubai World Trade Center. “Dubai is a significant link in the GCC’s food chain," Chamber Vice President of International Relations Hassan Al Hashemi said. "The emirate is the region’s major re-exporting hub, supported by strong logistics and well-established transportation routes." Read More »

GES plans Ghana expansion through Quemic Ghana Pty acquisition

Dubai-based NEAH Global Energy Solutions (GES) said its affiliates have taken over the debt and equity stake in Quemic Ghana Pty. GES, which offers logistics, power generation and security management for global energy and critical organizational assets, plans to expand its services and delivery in Ghana after consolidating and rebranding Quemic Ghana Pty into an affiliate company. Read More »

Saudi Arabia seismic survey hits Sercel 508XT milestone

CGG said it successfully launched a comprehensive deployment of Sercel's new-generation 508XT land seismic acquisition system on a crew leading a seismic survey in Saudi Arabia. The 508XT system is currently deployed on a crew run by ARGAS, CGG's joint venture with Abu Dhabi National Energy Company (TAQA), which accomplished the milestone mark of 1 million vibrated points in January. Read More »

USFAAF's Jeddah branch launch party discusses U.S. tax laws

During the launch party of the Jeddah branch of the U.S. Financial Advisory and Audit Firm, the company's senior vice president addressed the issue of submitting U.S. tax return documentation by the appropriate date. USFAAF Senior Vice President Jim O'Neill said all Emiratis and GCC nationals having dual citizenship in the U.S. need to submit the information by the due date to avoid legal action. Read More »

Azerbaijan, Kazakhstan look to foreign investors in wake of low oil prices

To combat low oil prices, Azerbaijan and Kazakhstan are considering tactical moves to entice foreign investors and increase revenues, representatives of the two countries said at the recent CIS Global Business Forum in Dubai. Azerbaijan Deputy Minister of Economy Sahil Babayev said falling oil prices indicate an opportunistic time for his country to delve into diversification options.  Read More »

L&T Capital Markets expands operations in Dubai

L&T Capital Markets Limited (LTCML), which had been functioning as a representative office in the Dubai International Financial Center, said it is opening a wealth management services division in Dubai. The Dubai Financial Services Authority has approved the company's plan to expand its presence in Dubai by elevating LTCML’s license as a representative office to a Category 4 license. Read More »

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