Latest news with #UAE-headquartered
Campaign ME
a day ago
- Business
- Campaign ME
BackLite Media, Viola Media, Media 247 officially unite as Multiply Media Group
Abu Dhabi-based investment holding company Multiply Group has officially united three out-of-home (OOH) companies within its portfolio, including BackLite Media, Viola Media and Media 247 under a UAE-headquartered media entity called Multiply Media Group (MMG). Multiple Media Group (MMG) was officially launched at the World Out of Home Organization (WOO) Annual Congress in Mexico City. To mark the launch, Multiply Group lit up screens across cities around the world through a global takeover of DOOH media. The scale of the newly formed MMG now includes 3,000 advertising units across the UAE, including more than 75 premium assets on Dubai's Sheikh Zayed Road, which are backed by long-term partnership agreements with Dubai's Road and Transport Authority (RTA) under Mada Media in Dubai as well as the Department of Municipalities and Transport (DMT) in Abu Dhabi. Commenting on the launch of the new YAE media powerhouse, Samia Bouazza, GCEO and Managing Director of Multiply Group, said, 'The launch of Multiply Media Group represents the most significant media consolidations in the UAE. By bringing together market-leading media assets under a single AI and tech-driven group, we are reinforcing our commitment to long-term value creation and shareholder returns. MMG lays a strong foundation for our global ambitions and forward-looking investment strategy.' The move also reflects the global expansion of Multiply Group, the $7.2bn billion holding company, which is part of Abu Dhabi-based International Holding Company (IHC), which has a market cap of more than $240bn. The newly consolidated group aims to serve as a launchpad to capture regional and international opportunities arising in the media sector through MMG portfolio businesses. MMG intends to drive performance and innovation across the OOH media sector, reshaping the UAE's media landscape through scale, AI, and strategic partnerships. To achieve its mission, MMG will invest in high-potential media assets, catalyse growth with innovation and create synergies across its portfolio through strategic investments. Jawad Hassan, Head of the Media and Communications Vertical at Multiply Group, said, 'For several years, Multiply Group's ambitious growth strategy for the media sector has taken us from an integrated portfolio of three industry leaders to a media powerhouse with vast potential to redefine the entire regional media landscape in ways that will bring immediate impact and long-term value for clients.' Hassan added, 'Through MMG, we stand ready to embrace the emerging trends in our industry, particularly the transformative role of AI, and we will continually look to invest in technologies that enable us to create dynamic and innovative campaigns.' The launch of MMG follows a recent strategic agreement between Multiply Group's media vertical and Arabian Contracting Services Company (Al Arabia) to create a joint venture (JV) to invest in the global out-of-home (OOH) advertising sector. Multiply Group, also recently announced a Memorandum of Understanding (MoU) with Saudi Media Company (SMC) – with these two strategic moves underscoring the global expansion potential of Multiply's portfolio brands. James Bicknell, CEO of Multiply Media Group, said, 'Multiply Media Group launches as a transformative force in out of home media — a powerhouse that unites some of the region's most strategic media assets under one bold vision. With MMG, we are not simply scaling up — we are scaling intelligently.' Bicknell added, 'Our mandate is clear: deliver context at scale, and reach audiences where it truly matters, when it matters most. MMG is engineered to be agile, data-led, and deeply integrated, enabling our clients to engage audiences with greater relevance, responsiveness, and resonance than ever before. This is more than media — it's momentum.' Multiply Group's other media holdings include Yieldmo, a contextual mobile ads platform, and Firefly, North America's leading digital Taxi-Top company. The group completed the acquisition of Viola Communications, a marketing and communications firm, in 2021.
Time Out Dubai
4 days ago
- Business
- Time Out Dubai
Watch out for smarter AI-powered billboards on Sheikh Zayed Road from Multiply Media Group
Abu Dhabi-based investment holding company Multiply Group has united three major out-of-home advertising companies to launch Multiply Media Group (MMG). The UAE-headquartered media group officially launched during the World Out of Home Organisation (WOO) Annual Congress in Mexico City. So, what does this mean for the existing brands and the out-of-home (OOH) media sector? Fresh investments, innovative solutions on and better synergy across all the companies now working under one roof. But what does this mean for you? MMG aims to change how we all see ads while travelling around the city. Think personalised messaging about the products and services you genuinely want to learn more about, thanks to new and improved AI and data strategies. In fact, to celebrate the launch on Thursday June 5, you may have noticed digital billboards simultaneously lighting up as you whizz by on Dubai's Sheikh Zayed Road, a spectacle also appearing across several other cities globally at the same time. The three big names now under the MMG umbrella – BackLite Media, Viola Media and Media 247 – together manage 3,000 advertising units across the UAE, including over 75 premium sites dotted along Sheikh Zayed Road. Samia Bouazza, GCEO and Managing Director of Multiply Group, said: 'The launch of Multiply Media Group represents the most significant media consolidations in the UAE. By bringing together market-leading media assets under a single AI and tech-driven group, we are reinforcing our commitment to long-term value creation and shareholder returns.' James Bicknell, CEO of MMG, added: 'With MMG, we are not simply scaling up – we are scaling intelligently. 'Our mandate is clear: deliver context at scale and reach audiences where it truly matters, when it matters most. MMG is engineered to be agile, data-led and deeply integrated, enabling our clients to engage audiences with greater relevance, responsiveness, and resonance than ever before. This is more than media – it's momentum.' The new outdoor advertising conglomerate is also eyeing regional and international expansion – watch this space. Launching 2025.
India Gazette
20-05-2025
- Business
- India Gazette
Emirates NBD in India: Bank gets in-principle nod to set up wholly owned subsidiary
New Delhi [India], May 20 (ANI): The Reserve Bank of India (RBI) has decided to grant 'in-principle' approval to Emirates NBD Bank for setting up a Wholly Owned Subsidiary (WOS) in India. The nod to the UAE-headquartered has been accorded under the 'Scheme for Setting up of WOS by foreign banks in India'. Emirates NBD Bank PJSC is currently carrying on banking business in India in a branch mode through its branches located in Chennai, Gurugram and Mumbai. The in-principle approval has been granted to the bank for setting up a wholly owned subsidiary (WOS) through the conversion of its existing branches in India. 'The RBI would consider granting a licence for commencement of banking business in WOS mode under Section 22 (1) of the Banking Regulation Act, 1949 to Emirates NBD Bank PJSC, on being satisfied that the bank has complied with the requisite conditions laid down by RBI as part of 'in-principle' approval,' RBI said. At present, foreign banks have a presence in India only through branches. According to RBI, local incorporation of a foreign bank creates a separate legal entities, having its own capital base and local board of directors. It also ensures that there is a clear delineation between the assets and liabilities of the domestic bank and those of its foreign parent and clearly provides for ring-fenced capital and assets within the host country. It imparts clarity and certainty with respect to the applicability of the laws of the country of incorporation on the locally incorporated subsidiary. Importantly, a local incorporation provides effective control to the local regulators. Under the Scheme for Setting up of Wholly Owned Subsidiaries (WOS) by foreign banks in India, all foreign banks that are not carrying on banking business in India and that wish to do so in the future shall carry on banking business in India only through a wholly owned subsidiary. (ANI)
Gulf Today
09-05-2025
- Automotive
- Gulf Today
Sayward Capital signs definitive agreement with Technosteel Construction
Gulf Network Sayward Capital Corp., a capital pool company listed on the TSX Venture Exchange (TSXV), has announced the signing of a definitive share exchange agreement with Technosteel Construction, a leading structural steel firm based in the UAE. This milestone transaction represents a historic first for Canadian capital markets, marking the debut of a UAE-headquartered operating company on a Canadian stock exchange. Signed on March 26, 2025, the agreement outlines the terms of Sayward's Qualifying Transaction in accordance with TSXV Policy 2.4. Upon completion, the resulting issuer is expected to be named Technosteel Corp. The transaction will be accompanied by a private placement of up to US$4 million, which will be used to support Technosteel's continued expansion, automation initiatives, and general working capital requirements. Founded in 1992, Technosteel has established itself as a dominant force in structural steel fabrication and erection across the UAE and the broader Middle East. The company has delivered more than 86 major projects, including iconic developments such as the Princess Tower, the Ferrari and Maserati Showroom, and the Abu Dhabi Link Bridge. With a monthly installation capacity of 2,000 tons and a workforce exceeding 1,200 employees, Technosteel serves an expansive clientele spanning governmental bodies, private developers, and multinational corporations. 'This is more than a transaction—it's a transformation. We're proud to take a homegrown UAE engineering leader to the global capital stage. The TSXV listing will accelerate our expansion plans, drive innovation in construction automation, and open new frontiers for investor and client engagement across Canada, the GCC, and beyond,' said Shyamrup Roy Choudhury, who will serve as CEO of the resulting issuer. Dr. Ahmed Abdul Rahman Albanna, Co-Managing Director of Technosteel, added, 'This milestone is not only a first for Technosteel, but for the UAE. For the first time in history, a UAE operating company will be listed on the Canadian stock exchange. It's a moment of immense pride for our nation and testament to the maturity, credibility, and global ambition of UAE enterprises. We are honoured to carry that flag.' Under the agreement, each Technosteel share will be exchanged for 711.11111 common shares of Sayward. The post-transaction leadership team will include Shyamrup Roy Choudhury as Chief Executive Officer and Director, Aaron Meckler as Chief Financial Officer, and board members Dr. Ahmed Abdul Rahman Albanna, Dana Ahmed Albanna, and Chittransh Verma.
Al Etihad
30-04-2025
- Business
- Al Etihad
Good fundamentals to help UAE companies weather global uncertainty: S&P Global Ratings
30 Apr 2025 13:00 A. SREENIVASA REDDY (ABU DHABI)Good corporate fundamentals are expected to help UAE companies—and the economy at large—weather the global uncertainty triggered by tariff wars and geopolitical tensions, said S&P Global Ratings in a new its latest analysis of the GCC corporate landscape, the report said that despite challenges stemming from rising trade protectionism, oil price volatility, and global economic fragmentation, the UAE remains one of the more resilient economies in the region. Its large, investment-grade-rated corporate base, access to competitively priced capital, and diversified economic base continue to provide a cushion against external shocks.S&P Global Ratings forecasts that the UAE's real GDP will grow by approximately 4.5% in 2025 and slightly above 4% in 2026. This places the country among the fastest-growing economies in the GCC. Growth is expected to be supported by ongoing expansion in the non-oil economy, including sectors such as tourism, real estate, retail, and logistics. The report cites strong domestic demand trends as a key driver, helped by structural reforms and continued investor across the GCC, including in the UAE, is projected to remain moderate at around 2% in S&P Global Ratings reports that 61% of rated companies in the GCC hold investment-grade ratings, with a significant portion of them based in the UAE. These companies are viewed as having robust liquidity profiles, solid operating models, and prudent capital allocation the prominent UAE-based corporates covered in the report are Emirates Telecommunications Group (e&), which carries a rating of AA-/Stable; Emaar Properties, rated BBB+/Stable; Majid Al Futtaim Holding, at BBB/Stable; and Fertiglobe PLC, also rated BBB/ report also highlights that 46% of rated GCC corporates are government-related entities (GREs), which further strengthens the financial system. These entities benefit from state ownership, preferential access to resources, or contractual relationships with public institutions—characteristics that enhance creditworthiness. In the UAE, this relationship between government and enterprise has helped preserve financial stability and enabled corporates to pursue expansion strategies with estate remains a major pillar of strength in the UAE's economy. According to the report, residential demand in Dubai is expected to remain firm in 2025, supported by demographic growth and a strong pipeline of project launches. Pre-sales and revenue backlogs have provided companies with cash flow visibility, while developers continue to maintain strong balance sheets. Despite the potential for short-term corrections due to new supply, leading players in the sector are expected to remain profitable and resilient.S&P also pointed to continued momentum in the chemicals and telecommunications sectors. Fertiglobe, the UAE-headquartered nitrogen fertiliser producer, benefits from competitively priced gas feedstock, offering a cost advantage over global peers. In telecommunications, Emirates Telecommunications Group has been expanding into new verticals, including digital platforms and cloud services. The agency noted that while capital expenditure remains elevated in the sector, companies such as e& have the financial headroom to support ongoing investment without eroding credit corporates are expected to maintain solid access to financing, even in an environment of elevated global interest rates. S&P estimates that capital expenditure among rated GCC companies will remain between $30 billion and $35 billion annually. In the UAE, companies such as Emaar, Majid Al Futtaim, and e& have demonstrated strong refinancing capabilities and continue to benefit from favourable terms in both local and international capital markets. The report anticipates that many of these firms will return to bond markets in 2025 to refinance debt and support new projects. While the report does outline potential downside risks—including prolonged trade disruptions, weaker oil prices, and regional security concerns—it emphasises that UAE-based corporates are generally well-prepared. 'While rising uncertainty clouds the global outlook, the credit quality of most rated GCC corporates—particularly in the UAE—remains strong,' the report said.
