In a landmark development for the UAE’s industrial sector, Gulf Cement Company (GCC), a pivotal player in the region’s infrastructure for nearly 50 years, has officially become part of Buzzi, the Italian global leader in cement and heavy construction materials. This strategic integration was commemorated with a ribbon-cutting ceremony at The Waldorf Astoria Ras Al Khaimah, attended by top executives from both organizations, including Pietro Buzzi, CEO of Buzzi SpA, and José B. Sena, CEO and Managing Director of GCC, alongside regional stakeholders and dignitaries. The event symbolizes a transformative phase for GCC, emphasizing its dedication to innovation, sustainability, and global competitiveness. Established in 1977, GCC has been instrumental in the UAE’s infrastructure growth, producing premium cement products and spearheading environmental initiatives like waste heat recovery systems and carbon emission reduction programs. By joining forces with Buzzi, GCC aims to harness global expertise, advanced technologies, and strategic insights to enhance operational efficiency and expand its reach in international markets. Pietro Buzzi remarked, ‘This integration transcends a mere business deal; it reflects a shared vision of innovation and long-term growth.’ José B. Sena added, ‘This partnership marks a pivotal moment for GCC, blending international expertise with regional strength to drive industrial excellence.’ The move also highlights Buzzi’s commitment to bolstering its presence in the Middle East, a rapidly growing hub for construction and infrastructure development.
分类： business
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CE-Ventures announces strategic exit from Transcorp
CE-Ventures, the corporate venture capital arm of Crescent Enterprises, has announced the successful divestment of its equity stake in Transcorp, a UAE-based logistics and fulfilment company. The strategic sale to Elite Co, a leading regional operator supported by Green Dome Investments, has yielded a remarkable 7.6x multiple on invested capital (MOIC), marking one of the most lucrative exits in the region across all sectors. CE-Ventures initially invested in Transcorp in 2018, playing a pivotal role in transforming the company into a dominant player in cold-chain fulfilment, last-mile delivery, and B2B distribution. Over the years, CE-Ventures collaborated closely with Transcorp’s leadership to institutionalise governance, enhance internal systems, and unlock strategic growth opportunities. Tushar Singhvi, Deputy CEO & Head of Investments at Crescent Enterprises, expressed pride in supporting Transcorp’s evolution into a scalable, institutional-grade logistics company. Rodrigue Nacouzi, CEO and founder of Transcorp, praised CE-Ventures as a strategic partner that contributed significantly to the company’s growth. Sudarshan Pareek, Senior Vice President at CE-Ventures, highlighted the firm’s philosophy of backing mission-driven founders in sectors where operational excellence is key. Hisham Albahar, CEO of Elite Co, emphasised Transcorp’s market-leading position in cold-chain logistics and its strategic importance in Elite Co’s regional expansion. This transaction underscores Crescent Enterprises’ strategy of fostering resilient, high-impact businesses while driving sector consolidation. It also aligns with Elite Co’s broader expansion plans under Green Dome Investments, which aims to consolidate logistics and supply chain assets across the GCC.
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Dubai Golden Visa attracts new wave of property buyers
Dubai’s Golden Visa policy, which offers a 10-year renewable residency to property investors committing at least Dh2 million, has significantly reshaped the emirate’s real estate landscape. The streamlined eligibility criteria, which eliminated the previous Dh1 million or 50% down payment requirement, have positioned Dubai as a dual hub for investment and lifestyle. According to Rebiha Helimi, CEO and Founder of RH Luxury Properties, this policy has become a pivotal factor in attracting global wealth and reshaping investor behavior in 2025. Data from the Dubai Land Department reveals a 36% increase in real estate transaction volume and a 20% rise in value in 2024, totaling Dh761 billion. In the first half of 2025 alone, transactions surged by 26%, with off-plan projects accounting for nearly 70% of deals. Premium residential prices have also climbed, with villas averaging Dh2,088 per square meter. Helimi highlights that many clients now view visa processing and property acquisition as integral components of a strategic plan to leverage Dubai’s offerings. The policy has not only boosted liquidity in the luxury segment but also attracted long-term investors seeking profitability in a politically neutral jurisdiction. Analysts predict that around 9,800 millionaires will relocate to the UAE in 2025, bringing an estimated USD 63 billion in investable wealth. This migration is fueling Dubai’s high-end housing market, reinforcing its global appeal as a hub for asset diversification amid global economic uncertainties.
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Where cars meet couture: Lynk & Co redefines showroom experience with debut in Sharjah
Lynk & Co, the European premium mobility brand, has redefined the traditional car showroom experience with its debut in Sharjah, UAE. In collaboration with Galadari Brothers, the brand unveiled its first UAE showroom on October 12, 2025, marking a significant milestone in the future of mobility, lifestyle, and community. The event was more than a launch; it was a bold statement about the evolution of automotive retail.
The Sharjah showroom is a fusion of Scandinavian minimalism, urban culture, and cutting-edge technology, creating an atmosphere akin to a social club rather than a conventional car dealership. The opening ceremony, led by Ibrahim Abdullatif Ibrahim Galadari, Group Chief Investment Officer and Director at Galadari Brothers, alongside Lynk & Co leadership, attracted a diverse crowd of media, industry insiders, and guests. The evening featured live DJ performances, signature mocktails, and an immersive exploration of the showroom’s sleek interiors, digital gaming zones, and curated lifestyle corners.
Lynk & Co’s models, including the flagship 09 SUV, were showcased in a boutique lounge setting, emphasizing the brand’s commitment to blending mobility with culture. Rooted in Scandinavian design, safety, and innovation, Lynk & Co combines Volvo-engineered powertrains, advanced driving technologies, and precision craftsmanship, setting a new benchmark in the UAE automotive market.
Since its inception in 2016 under Geely Holding Group, Lynk & Co has aimed to redefine mobility for a new generation of connected, urban drivers. Its vision, ‘Changing Mobility Forever,’ focuses on open, connected mobility, integrating technology, design, and community. All models are designed and engineered in Sweden, with safety at their core, powered by Volvo’s acclaimed Drive-E engines.
The Sharjah showroom reflects Lynk & Co’s disruptive approach to automotive retail, emphasizing exploration and engagement over traditional sales tactics. The brand plans to expand its presence with a flagship club showroom on Sheikh Zayed Road in Dubai, further reinforcing its commitment to fostering open, connected communities.
Ibrahim Abdullatif Ibrahim Galadari remarked, ‘Lynk & Co is more than a car brand; it’s a lifestyle. The Sharjah opening represents the start of a cultural shift, where technology, design, and experience come together to define the future of mobility in the UAE.’
The launch signifies Lynk & Co’s entry into the UAE market and introduces a global collective of drivers, dreamers, and disruptors who envision mobility in a new light. In a world that doesn’t need just another car brand, Lynk & Co offers a fresh perspective on how we move.
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Sequoia COO resigns amid row over partner’s ‘Islamist liar’ attack on Mamdani
Sumaiya Balbale, the Chief Operating Officer at Sequoia Capital, stepped down from her position in August following a controversy involving Islamophobic remarks made by partner Shaun Maguire. According to the Financial Times, Maguire, a venture capitalist with close ties to Elon Musk, posted comments in July targeting New York City mayoral candidate Zohran Mamdani, which Balbale reportedly found offensive and discriminatory. Maguire’s post accused Mamdani’s culture of promoting deceit to advance an Islamist agenda, a statement that sparked widespread backlash. Balbale raised her concerns with Sequoia’s senior leadership, but the firm defended Maguire’s right to free speech, prompting her resignation. Her departure has been widely praised on social media, with many applauding her courage and integrity. The controversy also led over a thousand tech professionals to sign an open letter demanding disciplinary action against Maguire and condemning Sequoia’s inaction. The letter highlighted Maguire’s alleged history of anti-Muslim rhetoric and its impact on the global tech community. Additionally, the incident has strained Sequoia’s relationships with Middle Eastern investors, with some financiers expressing reluctance to collaborate with the firm. Balbale, a practicing Muslim and board member of Shake Shack, has previously spoken about how her identity has shaped her career. Sequoia Capital, Balbale, and Maguire have yet to publicly comment on the matter.
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Edenred UAE strengthens market leadership with financially inclusive payroll solutions
Edenred UAE, a pioneer in digital services and specific-purpose payments, is reinforcing its market leadership in payroll solutions and financial inclusion under the guidance of its new managing director, Claudio Di Zanni. As the first company authorized by the Central Bank of the UAE to process WPS salaries, Edenred has made financial inclusion a cornerstone of its operations, ensuring that access to financial services is not just a perk but a fundamental right for employees. With a robust client base of over 15,000 corporate entities and 2.5 million cardholders, Edenred UAE is trusted by both large enterprises and SMEs, particularly in sectors like manufacturing, construction, and facility management, where reliability is paramount. Its flagship product, the C3Pay salary card, powered by RAKBANK and part of the Mastercard network, offers global usability. A key factor in Edenred’s success is its on-site training programs at worker accommodations, which empower employees to activate their cards, use app features, and engage with financial tools effectively. Claudio Di Zanni emphasized Edenred’s commitment to innovation, compliance, and scaling services that benefit end users. He stated, ‘Our goal is to deepen trust with clients, expand impactful services, and ensure full compliance in a rapidly evolving regulatory landscape.’ Edenred UAE continues to set the standard for secure, ethical, and compliant financial access, positioning itself as a vital enabler of financial inclusion for the UAE’s workforce and beyond.
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Oil rises nearly 5% on fresh US sanctions against Russia
Oil prices experienced a significant surge of nearly 5% on Thursday, driven by fresh U.S. sanctions targeting major Russian energy companies Rosneft and Lukoil in response to the ongoing Ukraine conflict. Brent crude futures climbed by $2.98, or 4.8%, reaching $65.57 per barrel, while U.S. West Texas Intermediate (WTI) crude futures rose by $3.01, or 5.2%, to $61.51 per barrel. The sanctions, which extend measures previously imposed by Britain and the European Union, aim to pressure Moscow into agreeing to a ceasefire in Ukraine. The U.S. has warned of further actions if Russia fails to comply. The sanctions have forced major buyers of Russian oil, such as China and India, to reconsider their supply chains to avoid exclusion from the Western financial system. Indian refiners, including Reliance Industries, are reportedly planning to sharply reduce or halt imports of Russian crude. However, market analysts remain skeptical about the long-term impact of these sanctions, given Russia’s resilience in maintaining oil production and revenues despite previous measures. Oversupply concerns, fueled by OPEC+ production increases, have also tempered crude price gains. Meanwhile, U.S. demand for crude oil, gasoline, and distillates has strengthened, leading to a decline in inventories and supporting market sentiment.
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China delivers 1st dual-fuel luxury Ro-Ro vessel GNV·VIRGO
In a significant milestone for the maritime industry, China has unveiled its first dual-fuel luxury roll-on/roll-off (Ro-Ro) passenger vessel, the GNV·VIRGO. The vessel was officially delivered during a naming ceremony held in Guangzhou’s Nansha district, Guangdong province, on Thursday, October 23, 2025. Constructed by Guangzhou Shipyard International, a subsidiary of the state-owned China State Shipbuilding Corporation (CSSC), the GNV·VIRGO represents a leap forward in sustainable and luxurious maritime travel. Designed specifically for Italian ferry operator Grandi Navi Veloci (GNV), a key player under the MSC Group, the vessel combines cutting-edge green technology with opulent amenities. The dual-fuel capability allows the ship to operate on both traditional marine fuels and cleaner alternatives, significantly reducing its environmental footprint. This delivery underscores China’s growing prowess in advanced shipbuilding and its commitment to fostering international partnerships in the global shipping industry. The GNV·VIRGO is expected to set new standards for eco-friendly and high-end passenger vessels, catering to the increasing demand for sustainable travel solutions.
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UAE airlines say flights to Amsterdam not impacted by storm Benjamin
Despite severe weather conditions caused by Storm Benjamin, leading UAE airlines have confirmed that their flights to and from Amsterdam remain unaffected. On Thursday afternoon, Amsterdam’s Schiphol Airport experienced significant disruptions, with 75 departing flights among dozens canceled due to strong winds. However, Emirates and Etihad Airways, two of the UAE’s premier carriers, reported no disruptions to their operations. Emirates’ spokesperson stated that their flights to the European destination continued without interruption, while Etihad Airways confirmed that their services were operating as usual. Amsterdam, a major tourist hub in Europe, attracts visitors from the UAE and beyond with its iconic canals, historic landmarks, and vibrant culture. The city’s Schiphol Airport advised passengers to verify flight details before traveling and stay updated through airline communications. The resilience of UAE airlines highlights their operational efficiency amid challenging weather conditions.
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Cipla to sell weight-loss drug Mounjaro’s active ingredient in India
Indian pharmaceutical giant Cipla has entered into a strategic agreement with US-based Eli Lilly to market tirzepatide, the active ingredient in the widely acclaimed weight-loss drug Mounjaro, in India. The announcement, made on Thursday, marks a significant step in addressing the growing demand for effective weight management solutions in the country. Tirzepatide, a dual glucose-dependent insulinotropic polypeptide (GIP) and glucagon-like peptide-1 (GLP-1) receptor agonist, has gained global recognition for its efficacy in weight reduction and diabetes management. This collaboration leverages Cipla’s extensive distribution network and Eli Lilly’s innovative pharmaceutical expertise, aiming to make the drug accessible to a broader population in India. The move comes amid rising concerns over obesity and related health issues in the region, highlighting the potential impact of this partnership on public health. Both companies expressed optimism about the initiative, emphasizing their commitment to improving healthcare outcomes through advanced medical solutions.