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Pexels/Centre for Ageing Better Mubadala says Calisen has an installed base of 16 million smart meters Deal values Calisen at $5.1bn UK’s leading smart meter company Europe “clean” tech deals hit $24bn last year Abu Dhabi’s sovereign wealth fund Mubadala Investment Company has completed the sale of its indirect stake in Calisen, a UK supplier of energy smart meters. Private equity infrastructure investors EQT and Singaporean sovereign wealth fund GIC will buy Calisen in a deal that values the company at around $5 billion. Mubadala, BlackRock and Goldman Sachs Alternatives took Manchester-based Calisen private in 2021 through a $1.8 billion…

Dubai Airports The number of seats on offer between Dubai and Riyadh is expected to be 5% down on last summer, which will make the rush for Thursday evening travel even more competitive The world’s airlines will switch from their winter to summer schedules in a few weeks, as the clocks jump forward across Europe.  It’s always a symbolic moment for the industry, as new routes are launched and staff adjust to the latest schedules.  Unfortunately the supply chain and aircraft delivery issues which have plagued the global industry for the past two years are unlikely to disappear as we…

Reuters/Muath Freij Tourism contributes an estimated 15 percent to Jordan’s GDP, about three-quarters of which comes from Arab visitors Jordan’s economy is forecast to grow by 2.7 percent in 2025 as tourism recovers and trade with Syria and Iraq starts to rise gradually, S&P Global said. Tourism contributes an estimated 15 percent to Jordan’s GDP, with about three-quarters of it sourced from Arab visitors, including Jordanians living abroad. “We expect the number of Arab tourists to remain relatively stable, but if the security situation in the region improves compared with 2024, the number of non-Arab tourists could rise,” the rating…

Reuters/Abdel Hadi Ramahi The Cepa will create further growth and business opportunities in the UAE and Central African Republic, said minister of state for foreign trade Ahmed Al Zeyoudi Trade between the UAE and the Central African Republic is estimated to surpass AED3.7 billion ($1 billion) following the signing of a comprehensive economic partnership agreement (Cepa) last week. Cepa will create further growth and business opportunities in both countries, boosting bilateral trade over the next five to seven years, UAE minister of state for foreign trade Ahmed Al Zeyoudi told the state-run Wam news agency. Non-oil trade between the UAE…

Ninja, a Saudi quick commerce startup founded and led by Ebrahim Al-Jassim, the founder of HungerStation is in talks to raise fresh funds at a valuation of over $1 billion, Bloomberg reported on Tuesday.The round, according to the report, could be finalized and closed as early as this month, and is being led by Riyad Capital, the investment arm of Riyad Bank, one of Saudi Arabia’s largest banks.While it launched 1957 Ventures last year to focus on fintech, this investment will likely come from its main entity due to the round’s large size. The firm is is also behind Riyad…

Reuters/Daniel Kramer Even more to discuss this year: CERAWeek host Daniel Yergin and Saudi Aramco CEO Amin Nasser onstage at the 2022 event So, to Houston, Texas, for arguably the biggest event in the energy calendar: CERAWeek, the annual gathering of the world’s elite in oil and gas and – whisper it softly in the heartland of Big Oil – some renewable and alternative fuel sources too. Sometimes called “the oil man’s Davos”, CERAWeek 2025 is undoubtedly the place to be, with a US president pledging to “Drill, baby, drill” and rapidly shifting geopolitics potentially impacting all aspects of the…

Zhao Yuhang/China News Service/Alamy Live News Saudi minister of sports Prince Abdulaziz bin Turki Al Faisal during the closing ceremony of the 9th Asian Winter Games 2025 in China. Saudi Arabia is to host the games in 2029 The Saudi state oil giant Aramco took nearly everyone by surprise on Tuesday when it announced a cut in dividends.  As a result the Saudi government and the Public Investment Fund (PIF), which still collectively own 97.5 percent of the company, stand to receive $38 billion less in dividends in 2025 compared to the previous year. How many governments can absorb such…

RIYADH: Saudi Arabia’s corporate venture capital arms are playing a pivotal role in driving innovation and advancing economic diversification by aligning their investment strategies with both national and corporate objectives. Between 2020 and the third quarter of 2024, corporate investors accounted for 27 percent of the 1,361 unique investors in the Middle East and North Africa region, deploying approximately $380 million, according to a report by MAGNiTT. Saudi Arabia saw the highest ratio, with CVC’s making up 30 percent of local unique investors. Funds such as Aramco Ventures and stc’s tali ventures exemplify this dual-purpose approach. By leveraging their resources…

Reuters/Hamad I Mohammed A boxing match during the Light Heavy Championship held in Riyadh last month. Saudi Arabia is gaining ground as a major sports event host Plans have been formally agreed to create a new boxing league funded by Saudi Arabia.  In a deal reportedly worth $10 million, the country’s Public Investment Fund and TKO Group Holdings of the US – owner of the UFC and WWE combat sports series – will produce, promote and be responsible for the venture’s operations. In recent years, both the UFC and WWE have been regular visitors to the kingdom as the country…

Hey there, startup enthusiasts! There’s some exciting news coming out of the MENA region that we just have to share with you. Last month, startups in the area raised an impressive US$494 million—a staggering 457 percent increase compared to the same time last year. Let’s dive into the details!Regional Powerhouses: Saudi Arabia and the UAEIt turns out that the bulk of this growth came from just two countries. Saudi Arabia and the UAE together accounted for a whopping 92 percent of the total investment. Saudi startups alone secured about US$250.3 million spread across 25 deals, while the UAE followed closely…