Marriott sees 20 new properties in Mena region this year

Dubai: Marriott International said Monday that it expects to add 19 new properties, or more than 3,000 rooms, to its Middle East and Africa portfolio in 2019. The new additions are in line with the company’s expansion plans to add more than 100 new properties and nearly 26,000 rooms across the region by the end […]

Carlyle Group to acquire significant minority shareholding in CEPSA from Mubadala

ABU DHABI: Mubadala Investment Company and Carlyle Group Monday announced that funds affiliated with Carlyle will acquire a significant minority interest in Compania Espanola de Petroleos, Cepsa, from Mubadala. Headquartered in Madrid, Spain, Cepsa is Europe’s largest privately-owned integrated oil and gas company. As part of the agreement, Carlyle will acquire a stake in Cepsa […]

Amazon, Noon competitor Awok raises $30 million in funding

Dubai: Awok, the local online marketplace founded in 2013 to sell gadgets and electronic goods, has raised $30 million in funding to fuel the company’s expansion into Saudi Arabia. The Series A funding round, led by venture capital funds StonePine ACE Partners, Al Faisaliah Ventures, and Endeavor Catalyst, will also help to develop Awok’s e-commerce […]