- Smashi Business
- Posts
- ADNOC Drilling's Big Move, Saudi Central Bank's Tech Leap, and Fix Dessert's Sweet Success🍫💰
ADNOC Drilling's Big Move, Saudi Central Bank's Tech Leap, and Fix Dessert's Sweet Success🍫💰
Augustus Media FZ LLC
July 16, 2024
Marhaba folks! 🌞
In today's edition, we explore ADNOC Drilling's $58 million innovation leap, the Saudi Central Bank's digital banking push, and the sweet rise of Fix Dessert's luxury chocolate bars. Yalla, let’s go 🏃🏻♀️
ADNOC Drilling's Tech Arm Doubles Down on Innovation with $58 Million Acquisition 🛢️💰
ADNOC
📈 What is it about:
ADNOC Drilling and Alpha Dhabi Holding announced a significant move for their joint venture, Enersol. Enersol has signed an agreement to acquire a majority stake (51%) in NTS AMEGA, a leading manufacturer of high-tech equipment for the energy sector. This $58 million deal strengthens Enersol's position as a technology-focused investment platform.
🤔 Why does it matter:
NTS AMEGA boasts a strong track record with over $120 million in revenue and a healthy free cash flow yield in FY2023. This acquisition solidifies Enersol's footprint in the high-tech energy equipment sector, driving innovation and technological advancement.
🚀 What is next:
Expect Enersol to leverage NTS AMEGA's expertise to accelerate growth and enhance their technological offerings in the energy sector. This move could pave the way for more strategic acquisitions in the future.
👋 Hello, That’s me - your Content Buddy
What is Odeum?
Odeum is Augustus Media’s innovative in-house content studio, where creativity meets data-driven insights to produce compelling new media formats. Specializing in connecting brands with communities and culture, Odeum offers a range of services tailored to your needs.
Why Do Brands Need a Content Strategy?
An authentic story is key to connect with audiences on a personal level. That’s why a well-crafted social content strategy helps brands resonate with the internet generation and earn their trust.. Odeum excels in modern content creation, offering expertise in social media management and access to fully equipped studios.
How Can You Get Started?
If you’re a brand with a vision, contact us here, and our team will get in touch to help you bring your ideas to life.
📈 Markets
🔽 EGX 30 | 27,952.04 | – 0.32% |
🔼 DFMSI | 2,439.52 | +0.22% |
🔼 ADX | 9,144.82 | +0.02% |
🔼 Tadawul | 11,947.70 | +0.56% |
Saudi Central Bank Launches Government Banking Services Platform 🏦🇸🇦
SAMA
📈 What is it about:
The Saudi Central Bank (SAMA) recently launched the Naqd platform, enabling government agencies to securely access and manage their accounts at the central bank.
🤔 Why does it matter:
This initiative, reported by SPA, aims to streamline financial transactions, enhance efficiency, and provide real-time monitoring capabilities. Naqd forms part of SAMA's broader strategy to digitize the financial sector, which includes recent innovations like the "View My Bank Accounts" service for individuals and proposed e-wallet regulations.
🚀 What is next:
SAMA's ongoing digital transformation includes issuing its first digital bank license to STC Pay, expected to become the largest e-wallet provider in the GCC with 12 million customers. Watch for more tech-driven enhancements in Saudi Arabia's financial sector.
Quote of the day
"Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful." 🌟 - Albert Schweitzer
Fix Dessert's $18.58 Chocolate Bars: The Sweet Investment That's Turning Heads 🍫😍😍
Photo credit: CNN via CNN Newsource
📈 What is it about:
Fix Dessert's $18.58 Chocolate Bars: The Sweet Investment That's Turning Heads Fix Dessert Chocolatier, launched in 2021, has seen exponential growth, with daily orders skyrocketing from single digits to 500, as shared by its British Egyptian founder, Sarah Hamouda, in an interview with CNN.
🤔 Why does it matter:
The company prides itself on offering high-quality, unique Middle Eastern-inspired flavors such as dates, karak (a spiced tea blend), knafeh (a traditional Arabic dessert), and other innovative combinations. However, since every Fix chocolate bar is handmade, production capacity is limited.
🚀 What is next:
To meet the increasing demand, Fix has expanded from a home-based operation to a team of 10 working in a rented kitchen. With ambitious plans in the pipeline, this is just the beginning for Fix Dessert's journey to sweet success.
