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    Ministry of Economy and Tourism intensifies monitoring efforts at points of sale across the country and confirms availability of goods and products in abundant quantities

    The Ministry of Economy and Tourism has intensified its monitoring efforts at points of sale across markets nationwide to ensure price stability for goods and products and their availability in sufficient quantities to meet consumer needs, particularly in light of the current increase in demand for essential consumer goods. The Ministry explained that monitoring and […] The post Ministry of Economy and Tourism intensifies monitoring efforts at points of sale across the country and confirms availability of goods and products in abundant quantities appeared first on Web-Release.

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    Union Properties Enters a New Era with Record Performance and Proposed Dividend Revival

    Union Properties PJSC (“Union Properties” or “the Company”) (DFM: UPP) announced its audited financial results for the fiscal year 2025, marking one of the Company’s strongest performances in recent years and a historic milestone with the Board of Directors proposing a cash dividend of AED 3 Fils per share, the first cash dividend in 11 […] The post Union Properties Enters a New Era with Record Performance and Proposed Dividend Revival appeared first on Web-Release.

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    Friday, June 19
    Business

    Phoenix Venture completes second closing of its innovation fund

    Phoenix Venture Partners (“PVP”) announced on 19 February 2025 the successful second closing of its fund, Phoenix Venture Partners Innovation Fund (CEIC) Limited (“PVPIF”). This milestone marks a significant step forward in PVP’s mission to support and invest in groundbreaking innovations and technologies.

    The second closing brings in a diverse group of investors from France, Luxembourg, Mauritius, Kuwait, and the Kingdom of Saudi Arabia (KSA). This group includes institutional investors, family offices, and high-net-worth individuals (HNWI). PVP is honoured to welcome these esteemed investors, whose participation underscores the global confidence in PVPIF’s strategic vision and investment approach.

    “We are thrilled to be supported by such a distinguished group of investors from around the world,” said Steve Khayat, Founder & CEO at Phoenix Venture Partners. “Their commitment is a testament to the strength of our investment strategy and the potential of the innovative companies we are backing.”

    PVPIF focuses on early-stage investments in disruptive technologies across various sectors, including fintech & insurtech, healthtech, edtech, agri-food tech, energy tech & sustainability, e-logistics & mobility tech, and consumer tech, focusing on the MENA region with a global outlook (G20 economies).  With the additional capital from this second closing, PVPIF is well-positioned to execute live deals, expand its portfolio and drive meaningful impact in the innovation ecosystem.

    Phoenix Venture Partners remains dedicated to fostering innovation and delivering value to its investors. The firm looks forward to continuing its work with visionary entrepreneurs and industry leaders to build the next generation of disruptive companies.

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