Category Archives: Investment news

Gaming Tech sees big investments

Newzoo expects revenues for games to grow at a compound annual growth rate of 8.3%, resulting in revenues of $200.8bln by 2023.

UAE – Investors across the UAE and the Middle East region are increasingly turning their sights to gaming technology, driven by the growth of the sector during the Covid-19 lockdown.

Experts say that the rise in the popularity of gaming is creating opportunities for developers too, and more projects have appeared in the hopes of meeting the needs of a growing audience.

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Google is partnering with oil giant Aramco to access Saudi Arabia’s $10 billion cloud market

Google will open a “cloud region” where it can provide its cloud services in Saudi Arabia via a joint venture with state-owned oil producer Saudi Aramco, as Covid-19 prompts a landmark acceleration in digital adoption across the Gulf.

“The collaboration taps into rapidly expanding cloud services demand in Saudi Arabia, which is forecast to reach a market opportunity up to $10 billion by 2030,” Aramco said in a statement on Monday.

Aramco said the agreement with Google will deliver “high performance, low-latency cloud services to enterprise customers in Saudi Arabia” as warming relations in the region open the political space for U.S. technology companies to expand into the kingdom. 

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Investcorp acquires stake in Singapore’s instant cereal maker Viz Branz

Alternative asset manager Investcorp said on Monday it agreed to acquire a majority stake in Singapore-based Viz Branz from its existing shareholder and chief executive Ben Chng.

The Bahrain-listed firm did not disclose the total investment in the deal, which was concluded in partnership with the Asia Food Growth Fund I.

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Adio boosts UAE’s Food Security With $41m in Grants to AgTech Firms

New partnerships with Pure Harvest, FreshToHome and Nanoracks will address challenges from ‘land, sea and air’

The Abu Dhabi Investment Office is dispersing $41 million to three technology firms to boost initiatives that address global food security challenges under the Ghadan 21 accelerator programme.

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Dana Gas Signs Binding Agreement to Sell Egyptian Assets for $236m

Dana Gas, the Sharjah-based energy company, entered into a “binding agreement” with Egypt’s IPR Wastani Petroleum to sell its onshore Egyptian oil and gas assets.

The $236 million deal with Egyptian exploration and production firm, a part of IPR Energy Group, also includes contingent payments, Dana said to Abu Dhabi Securities Exchange, where its shares trade.

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