Tabby, the UAE-based FinTech startup and the region’s first Buy Now Pay Later solution, today announced it has raised $7M to fund its growth and launch its offering in Saudi Arabia. The funding round was led by Raed Ventures with participation from MSA Capital and existing investor Arbor Ventures. Launched in 2019 by Hosam Arab, previously co-founder and CEO of online retail site Namshi, with an initial $2M in seed funding, Tabby’s mission is to empower consumers to easily buy what they want, when they want, while remaining in control of their finances. Tabby helps retailers across the UAE and…
Author: Kasun Illankoon
TRSDC focuses on employee health with the award of a new contract delivering expedient medical services to site workers and their families. The Red Sea Development Company (TRSDC), the developer behind one of the world’s most ambitious tourism projects, has awarded a contract for the provision of medical services during the initial construction phase of the project. The contract was awarded following a competitive tendering process to medical services provider International SOS to provide all medical services across the development. The agreement ensures that the highest quality medical care and assistance is provided to the site’s estimated 28,000 construction workers…
Terex Corporation has announced that John L. Garrison, Jr., Chairman and CEO of Terex Corporation, will take on additional responsibilities as President, Terex Aerial Work Platforms (AWP), effective immediately. Matt Fearon, the current AWP President, is leaving the Company August 1 after 25 years with Terex, AWP and Genie, AWP’s flagship brand. Simon A. Meester, Vice President, Global Sales and Marketing Administration forAWP, will be promoted to Chief Operating Officer, Terex Aerials. Mr. Meester and Clint Weber, General Manager of Terex Utilities, the Company’s other business in the AWP segment, will both report directly to Mr. Garrison in his role…
Dubai Electricity & Water Authority (DEWA) has retendered its 120 Million Gallons Per Day (MIGD) Hassyan Sea Water Reverse Osmosis Plant (SWRO) Project using the Independent Water Producer (IWP) model and is inviting bids for the process. The project is DEWA’s first Independent Water Producer (IWP) model project. Interested parties, having experience of building and operating similar projects, are invited to partake in the tendering process for which the submission deadline is Monday, 3 August 2020. DEWA has adopted the IWP procurement model for the Hassyan desalination plant following the success of the Independent Power Producer (IPP) model at the…
Emirates Global Aluminium, Bee’ah, DP World and Masdar today announced the launch of a Vital Industry COVID-19 Task Force, a coalition of industrial companies operating across the United Arab Emirates, convened to share best practices on the management of the global pandemic. The Task Force brings together health and safety executives responsible for managing the response to COVID-19 at companies that are part of vital UAE industries and, therefore, have continued core operations throughout the pandemic. Together, executives participating in the Task Force discuss efforts to prevent the spread of the virus, protect industrial workers and support communities across the…
Dubai Land Department (DLD), in partnership with Property Finder, launched the second edition of Mo’asher, Dubai’s official sales price index, working to improve and expand it to become an annual, quarterly, and monthly index that includes the Q1 2020 index and the monthly index for 2020 until April. The base year for Mo’asher is 2012, and the base month for the monthly index is January 2012 with the base quarter for the quarterly index is Q1 2012. This new launch displays the history of how trends have changed over the past few years based on the data from Dubai Land…
Intertek, a leading Total Quality Assurance provider to industries worldwide is increasing the availability of its innovative Remote Video Inspection (RVI) service, a technological solution driven by its Total Quality Assurance experts, to ensure business continuity of critical vendor inspection services across the oil and gas supply chain during the current health and safety site restrictions. With the unprecedented global spread of Covid-19, governments and businesses around the world are taking steps to respond to the outbreak and to protect the health, wellbeing and safety of their people. These actions also impact International Oil Companies (IOCs) and National Oil Companies…
ACWA Power, a leading developer, owner, and operator of power generation and water desalination plants, signed a share purchase agreement with Samsung C&T to acquire 4.99% of its shares, with an option to purchase the remaining stake of Samsung C&T in Hajr Electricity Production Company (HEPC) – the project company running Qurayyah Independent Power Plant (IPP) in Saudi Arabia. HEPC is currently majority owned by Saudi Electricity Company with a 50% stake, and through a holding company, the remaining 50% ownership is held by a consortium of ACWA Power; MENA Infrastructure Fund; and Samsung C&T with shareholdings equivalent to 22.49%…
The World Government Summit (WGS) reaffirmed that facing the novel coronavirus (COVID-19) outbreak requires cementing the principles of partnership and employing modern technology to explore and build on new opportunities. In line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to promote global cooperation, concerted efforts between governments for the good of humankind, and build a better future for humanity. These were the key takeaways of two recent webinars, as part of the online series organized by the World Government Summit Foundation until June…
Dubai’s RTA, has unveiled a new generation of bus shelters at four hotspots across the city. The shelters boast of an innovative design that had been endorsed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. It is the first batch under a plan for constructing 1,550 shelters for waiting passengers set to be constructed over the next three to four years. “The project is being undertaken in partnership with the private sector through Build–Operate–Transfer (BOT) Model. The investor will cater to the funding of construction and operation of shelters, and share…