Author: Mahdeehassan

London – Gatehouse Bank, a Shariah-compliant ethical bank, majority owned by Kuwait shareholders, has published its annual results for the year ending 31 December 2024. The Bank reported a post-tax profit for 2024 amounting to £3.8 million (up 20% from £3.2 million in 2023), marking its fifth year of profitability. In line with its business strategy for the year, the Bank managed growth across its core markets, with total home finance originations amounting to £148 million. 2024 Key Highlights Home Finance The Bank completed a forward flow arrangement to originate £650 million of home financing to a third party, in addition to originating for the Bank’s…

Riyadh: Following the approval of the Transport and Logistic Services Privatization Supervisory Committee, chaired by H.E. Eng. Saleh bin Nasser Al-Jasser, Minister of Transport and Logistics Services, the Roads General Authority (RGA), in collaboration with the National Center for Privatization & PPP (NCP), announced the launch of the Expression of Interest (EOI) phase for the One-Stop Station (OSS) Public-Private Partnership (PPP) project. The project will be executed under a 30-year Design-Build-Finance-Operate-Maintain (DBFOM) contract and tendered in three separate waves, comprising six packages. The packages are of similar scope and transaction structure, with a phased procurement approach designed to ensure a competitive…

Savvy Games Group (“Savvy”), Saudi Arabia’s National Champion for Games and Esports, announced the signing of a Memorandum of Understanding (MoU) with Applied College in Princess Nourah bint Abdulrahman University (“PNU”), the largest women’s university in the world, to provide students with best-in-class training in Game Art, an essential component of video game development. The Game Art training program is jointly developed between Savvy and Applied College in PNU and is expected to start in September 2025. The program blends academic excellence with real-world expertise, ensuring students receive cutting-edge training that meets global standards. The program will cover essential aspects…

Elche (Spain). PLD Space, an international space services company with vertical integrated engineering and manufacturing, has been preselected by the European Space Agency (ESA) to participate in the European Launcher Challenge (ELC), the largest European program aimed at fostering new sovereign launch capabilities on the continent. ESA officially launched the ELC this year as a strategic initiative that will award up to €169 million per company in its final phase. The program is structured in two components: contracts for launch services of ESA institutional missions between 2026 and 2030, and a development track requiring a demonstration of enhanced launch capacity by…

Cairo: Contact Creditech, the digital consumer finance arm of Contact Financial Holding, has announced a strategic partnership with Kashier, one of the leading online payment gateways in Egypt and the Middle East. The collaboration will enable the integration of the Buy Now, Pay Later (BNPL) service from the ContactNow app into Kashier’s payment system, representing a strategic move to expand Contact’s customer base and strengthen our digital footprint in the Egyptian market. This collaboration marks a key step in Contact Now’s strategy to expand its digital offerings and enhance the customer experience. By providing flexible installment plans and seamless digital payment…

Doha, Qatar: University of Doha for Science and Technology (UDST) has signed a strategic partnership agreement with Naseem Health Care LLC, a leading regional medical services provider. The agreement will provide discounted healthcare services to UDST’s students and employees, while also offering on-campus health campaigns and awareness lectures. Through this agreement, Naseem Health Care will offer a wide range of discounted services and provide onsite check-ups that include dental screenings, blood pressure and sugar level measurements, as well as dermatological consultations. The collaboration also includes free consultations at Naseem’s premium medical centers and medical support for UDST events. This initiative reflects…

Abu Dhabi, UAE: Line Investments & Property SP LLC, the shopping mall development and management arm of Lulu International Holdings Ltd, has successfully concluded the much-anticipated Summer Shopping Carnival, a dynamic month-long festival that transformed the retail experience across 12 malls in Abu Dhabi, Al Ain, and Al Dhafra. The Summer Shopping Carnival offered visitors 31 days of exclusive promotions, global-themed experiences, cultural activations, live entertainment, and the chance to win exceptional prizes. Shoppers who spent AED 200 or more had the opportunity to enter two types of draws: a digital raffle draw to win brand-new Chevrolet Spark EUV vehicles presented…

Dubai, UAE: As part of ongoing efforts to raise cybersecurity awareness among youth and foster a safe and sustainable digital community, emt, a leading cybersecurity solutions, training and service provider, has partnered with the Dubai Electronic Security Center (DESC), to organize a series of interactive events and activities during the second week of the Cyberspace Leaders Program 2025, at the University of Dubai. The initiative invites students aged 13 to 18 to take part in a dynamic, hands-on program designed to promote cybersecurity awareness and build essential digital competencies. Activities will take place daily from July 7 to 10, offering…

Osaka, Japan – The Saudi Arabia Pavilion has welcomed Alfaisal University to Expo 2025 Osaka as it cements its role as Riyadh Health City’s academic catalyst and applied research engine by signing a landmark MoU with Japan’s MEDiDENT Co., Ltd. The agreement accelerates the transformation of discoveries into deployable health solutions. Initial projects included in the MoU will include AI-driven diagnostics trials, immersive medical education modules, and faculty exchanges, which will commence at Alfaisal’s Health Innovation Center in Riyadh, Saudi Arabia, in late 2025. The partnership will advance: Innovation Labs: Joint pilots in AI diagnostics, XR surgical training, 3D-printed biomaterials, and health-system digitalization.…

Dubai, United Arab Emirates: Arada has announced the sale of The Observatory, the showpiece penthouse at Akala, the recently launched wellness-focused branded residences project located adjacent to Dubai International Financial Centre (DIFC). Valued at AED125 million, the sale ranks as one of the top 10 apartments sold in Dubai so far in 2025, underscoring the strong global investor interest in Akala. Spanning two floors at the top of one of Akala’s 220-metre twin towers, The Observatory offers panoramic, unblocked views of the Burj Khalifa, Downtown Dubai, DIFC and the Zabeel area. Featuring six bedrooms, The Observatory is also notable for a…