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In "BUSINESS"
ABU DHABI — Jio Platforms, India’s leading digital services platform and a wholly-owned subsidiary of Reliance Industries, announced on Thursday that Mubadala Investment Company (Mubadala), the Abu Dhabi-based sovereign investor, will invest $1.2 billion (AED4.4bn) in Jio Platforms at an equity value of $65 billion (AED239bn) and an enterprise value of $68 billion (AED250bn).
Mubadala’s investment will translate into a 1.85 percent equity stake in Jio Platforms on a fully diluted basis.With this investment, Jio Platforms has raised $11.6 billion (AED43bn) from leading global technology and growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks.Khaldoon Al Mubarak, Managing Director and Group CEO, Mubadala...
June 05, 2020
India’s Reliance Jio Platforms to sell $1.2bn stake to Abu Dhabi’s Mubadala
June 04, 2020
Etihad Airways to offer transfer flights connecting key cities
June 04, 2020
Sharjah Airport Authority welcomes resumption of transit flights
June 04, 2020
Permian CO2 emissions intensity from flaring set to reach record low in second half of 2020
June 04, 2020
Oman sets up investment body to manage state assets
June 04, 2020
Profit taking on softer risk appetite, rising doubts on OPEC+ meeting, ECB decision
RIYADH — The King Abdullah Petroleum Studies and Research Center (KAPSARC) assessed, in a recent publication of an Instant Insight, the impact of COVID-19 on the Saudi labor market, and how jobs in 24 different sectors were affected by the current crisis.KAPSARC’s initial assessment, which used the approach prepared by the Federal Reserve Bank in St. Louis, revealed that 39% of Saudi employees in the sectors mentioned in the paper are at risk of losing their jobs, as the bank classified the sectors into high-risk and low-risk sectors, whereas the percentage of non-Saudi employees rises to 93%, due to the increase in the number of foreign workers in job sectors that are most at risk of unemployment, reaching more than 9 million employees, while the number of Saudis in those sectors...
June 04, 2020
KAPSARC analyzes impact of COVID-19 on the Saudi market in 24 job sectors
June 04, 2020
WEF releases framework to help investors address six global risks
RIYADH — Agility and two partner companies moved to help retailers and small businesses start or grow online sales through efficient, easy-to-build digital stores and easy-to-use shipping, fulfillment and delivery services.The partnership teams ExpandCart, one of the Middle East’s leading e-commerce enablers, with Shipa, Agility’s digital innovation arm. ExpandCart lets small businesses and retailers move online quickly by building branded stores in English and Arabic, then plugging into the simple Shipa platform so they can manage first-mile, fulfillment, freight movements, customs clearance and last-mile deliveries.Henadi Al-Saleh, Agility cairperson and leader of Agility’s logistics venture strategy, said the partnership would help traditional retailers and others that have seen...
June 04, 2020
Agility helps businesses ramp up online sales
June 04, 2020
Tenable ranked top in device vulnerability management market share
