Paris Air Show opens amid safety concerns after Air India crash
Aviation leaders gather in France as the industry faces concerns over safety, supply chains and global tensions
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Arabian Business
2 hours ago
- Arabian Business
Abu Dhabi's Eagle Hills to join $215m renovation of iconic Venice hotel
Abu Dhabi's Eagle Hills is joining an investment group undertaking the €200m ($215m) renovation of an iconic and historic hotel in Venice, Italy. COIMA SGR, a leading Italian real estate investment and asset manager, has finalised an agreement to acquire 100 per cent of the legacy debt on the historic Grand Hôtel des Bains, paving the way for the full restoration of the landmark property on the Lido di Venezia. The project will be financed through the newly launched COIMA Des Bains Fund, backed jointly by the COIMA ESG City Impact Fund – Italy's largest urban regeneration vehicle – and Abu Dhabi-based Eagle Hills, a global real estate investment and development company. Eagle Hills joins Venice hotel renovation The COIMA ESG City Impact Fund includes institutional investors such as Cassa Forense, ENPAM, Inarcassa, Intesa Sanpaolo, and others. Eagle Hills' entry into Italy marks a strategic expansion of its European portfolio and reinforces its focus on reviving iconic destinations through luxury hospitality. The Grand Hôtel des Bains joins Eagle Hills' global portfolio of more than 90 luxury hospitality properties. The company, under the leadership of Mohamed Alabbar, owns and operates more than 35 hotels, with projects across Europe, the Adriatic, the Middle East and Africa. Notable assets include the restored Bristol Hotel in Belgrade, Serbia, within the Belgrade Waterfront project. The investment in Venice underscores growing confidence in Italy's political stability and tourism sector, following the official visit of President Sheikh Mohamed bin Zayed Al Nahyan in February 2025. It also reflects strengthening UAE-Italy bilateral relations. The COIMA ESG City Impact Fund focuses on urban regeneration and sustainable reuse of buildings. Its initiatives include the Porta Romana Railway Yard redevelopment with Prada Holding and Covivio, and the 2026 Winter Olympics Athletes' Village, which will later become Italy's largest student accommodation complex. Entrepreneur Federico Marchetti, founder of YOOX Net-A-Porter Group, has also invested in the COIMA Des Bains Fund through his company, Mavis. COIMA and Eagle Hills may open the fund to further institutional and professional investors to support broader regeneration across the Lido di Venezia, home to the Venice Film Festival. The fund has acquired a €54m ($58.1m) loan held against the hotel from Intesa Sanpaolo and Altea SPV, which had purchased the debt tranche originally held by UniCredit. CRC (Christofferson, Robb & Company) is the noteholder, with Prelios Credit Servicing acting as servicer. This agreement enables COIMA to invest approximately €200m ($215m) in restoring and modernising the Grand Hôtel des Bains. Closed since 2010, the hotel will be transformed into a high-end resort while retaining its historical character. The redevelopment also includes enhancements to the surrounding park and beachfront, with work on the latter already under way. Opened in 1900 with 180 rooms, the Grand Hôtel des Bains was a luxurious retreat frequented by Europe's elite. It gained literary fame when Thomas Mann stayed there in 1911, inspiring his novella Death in Venice. The hotel later featured in the 1971 film adaptation and became a regular host to aristocrats, artists and celebrities during the Venice Film Festival. Previous redevelopment plans by Est Capital were abandoned in 2010. COIMA and Eagle Hills will now coordinate with Venice's public authorities to finalise the restoration programme. Mohamed Alabbar, Chairman and founder of Eagle Hills, said: 'This is more than a restoration – it is a revival of European legacy through modern excellence. Venice has always been a bridge between worlds, and we are proud to be part of its future, bringing our experience in luxury hospitality to one of the most symbolic hotels on the continent.' Manfredi Catella, COIMA founder and CEO, said: 'This first partnership with Eagle Hills, following an extensive exploration of investment opportunities, represents an important step forward and a meaningful sign of the strengthening relationship between Italy and the United Arab Emirates, following the meeting between Italy's Prime Minister Giorgia Meloni and His Highness Sheikh Mohamed bin Zayed Al Nahyan. 'The Grand Hôtel Des Bains is a symbol of Venice recognised around the world and a treasured part of Italy's cultural heritage. We will promptly begin working with Venice's public institutions to put a programme in place that restores the Des Bains to its rightful place on back on the global tourism map.'
Arabian Business
2 hours ago
- Arabian Business
Saudi-based AviLease orders 77 Airbus jets at Paris Air Show
Saudi Arabia's global aircraft lessor AviLease has signed a major agreement with Airbus for the purchase of up to 77 next-generation aircraft, including 55 A320neo Family and 22 A350F jets. The landmark deal was unveiled during the opening hours of the Paris Air Show 2025 and represents a significant leap forward in AviLease's mission to become a top 10 global aircraft lessor. This strategic investment equips AviLease, to deliver newest generation, fuel‑efficient fleet solutions to its global customer base – in passenger and cargo segments – while contributing to the expansion of Saudi Arabia's aviation ecosystem. AviLease Saudi jet orders The agreement was signed during the first hours of the Paris Air Show and deliveries are scheduled through 2033. Fahad AlSaif, Head of the Global Capital Finance Division, Public Investment Fund (PIF), and Chairman of AviLease, said: 'In less than two months, AviLease has signed two major deals, reflecting its long-term ambition to become a top 10 global player in aircraft leasing and to strengthen its position as a national champion. 'These milestones align with the Public Investment Fund's mandate to support the goals of Saudi Arabia's Vision 2030 and the National Aviation Strategy.' Edward O'Byrne, CEO of AviLease, said: 'We are proud to establish an Airbus order book, strengthening our position as a full-service, investment grade global lessor. The addition of these latest generation aircraft enhances our ability to offer modern, fuel-efficient fleet solutions to our airline partners in Saudi Arabia and around the world,'. 'Our selection of the A350F is the result of close collaboration with stakeholders across the Saudi Arabian aviation ecosystem. Backed by strong local partnerships and demand aligned with Saudi Vision 2030 targets, AviLease was able to support the future growth of air cargo traffic in the Kingdom through securing the necessary aircraft delivery slots'. Benoît de Saint-Exupéry, Airbus EVP Sales of the Commercial Aircraft business, said: 'We are delighted to welcome AviLease as Airbus' latest customer with this significant order for the all new A350F and leading A320neo Family. The A350F will set the benchmark in air cargo, offering at least 20 per cent reduced fuel burn, better loading capacity and increased range, while the A320neo Family continues to be the world's most popular single-aisle aircraft. 'This dual order reinforces AviLease's credentials as a leading lessor, and it demonstrates the broad appeal of our products among lessors and their airline customers.' Last month, the aviation firm announced an order for 30 Boeing 737 MAX aircraft, adding to the existing portfolio of 200 aircraft on lease to 48 airlines globally, as at 31 March 2025.
Zawya
7 hours ago
- Zawya
Mukuru Named FXC Intelligence Top 100 Cross-Border Payments Company for Sixth Year
Mukuru ( a leading next-generation financial services platform, has once again been recognised among the world's most influential cross-border payment companies, earning a spot on the 2025 FXC Intelligence Cross-Border Payments 100 list for the sixth consecutive year. Mukuru joins an elite group of global fintechs shaping the future of financial services, reinforcing its reputation as a trusted and resilient force in the industry. As a global authority in cross-border payments data and analysis, FXC Intelligence has highlighted Mukuru's impact on digital finance in emerging markets. In an industry undergoing rapid transformation, this recognition reaffirms Mukuru's vital role in enabling Africans to participate in the global financial economy through provision of secure, accessible, reliable and affordable payments solutions. Andy Jury, Group CEO of Mukuru, says; 'Mukuru's continued inclusion on the FXC Intelligence list is both an honour and a validation of our mission to drive financial inclusion at scale. Being recognised six years in a row highlights the value we bring to the growing cross border payments market as a proudly African business with expertise in bridging the gap in formal and informal economies across the continent and beyond'. Since Mukuru's inclusion in the FX Intelligence list in 2024, the company is expanding its digital financial solutions to over 17 million customers across Africa, Europe, and Asia. As part of this growth, Mukuru now has 5 wallets/cards in 5 markets including South Africa, Malawi, Zimbabwe, Botswana, and, most recently, Zambia. These solutions enable users to send and receive funds locally and globally, store, and spend money seamlessly via mobile or card, promoting financial inclusion for both urban and rural communities. In addition to individual solutions, Mukuru has strengthened its business offerings through MPAY (Mukuru Pay) and EPP (Enterprise Payment Platform). These platforms provide flexible payment solutions for e-commerce, payroll management, aid disbursements, and bulk transactions, ensuring efficient financial services for organisations across various sectors. With a regulatory footprint spanning more than 50 financial licenses across multiple countries, Mukuru has also taken a significant step toward expanding its financial services in Zimbabwe, with the recent issuing of its Deposit-Taking Microfinance Institution (DTMFI) license by the Reserve Bank of Zimbabwe (RBZ). This milestone enables the company to provide banking-like and regulated financial services to underserved segments, including women, youth, people with disabilities, and rural communities, in one of its most established markets. 'This recognition is not just a moment of pride – it's a signal to keep pushing boundaries, as Mukuru rapidly evolves beyond a remittance-led business to a trusted financial services partner for consumers, businesses and organisations. We remain dedicated to driving financial inclusion and shaping the future of cross-border financial services by delivering simple, innovative and trusted solutions globally', concludes Jury. Distributed by APO Group on behalf of Mukuru. For Media Enquiries, please contact: About Mukuru: Mukuru is a leading next generation financial services platform in Southern Africa that offers affordable and reliable financial services to a customer base of over 17 million+ across Africa, Asia and Europe. With over 100 million transactions to date, our core was built providing international money transfers and from this base, we've developed a set of services to address the broader financial needs of our customers. We now operate in over 70 countries and across over 570 remittance corridors. We are a business that puts the customer at the centre of everything we do, and for that reason, we serve clients across physical and digital channels, by various payment methods (cash, card, wallet) as well as a range of engagement platforms including WhatsApp, USSD, contact centre, App, website, agents and a branch and booth network. Mukuru has been listed among the top 100 Cross Border Payments businesses globally for the sixth consecutive year in the 2025 FXC Intelligence Top 100 Cross-Border Payment Companies. In 2024, Mukuru won the IAMTN Payments Network Customers Experience Excellence Award for exceptional customer satisfaction and was accredited as a Top Employer in South Africa for 2024 and 2025 by the Top Employers Institute. In 2023, Mukuru ranked sixth on the LinkedIn Top Companies List in South Africa. We aso received the Fintech Innovation of the Year Award at the 2023 Africa Tech Festival Awards for its role in driving economic growth and financial inclusion. Further information can be found at
