

New Delhi/Washington, May 19 (BNP): In a significant boost to bilateral defence cooperation, the United States has approved a military support package worth over USD 428 million for India, covering sustainment support for AH-64E Apache attack helicopters and M777A2 ultra-light howitzers, according to the US Department of State.

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The approved package includes an estimated USD 198.2 million for support services and related equipment for Apache helicopters, aimed at ensuring operational readiness through engineering, logistics, technical support, training, and maintenance assistance. Major US defence firms Boeing and Lockheed Martin are expected to serve as the principal contractors for the Apache support programme.
In addition, the US has cleared a USD 230 million long-term sustainment support package for India’s M777A2 ultra-light howitzers, which are already in service with the Indian Armed Forces. The package includes spare parts, repair support, technical assistance, training, and logistics services, with BAE Systems designated as the principal contractor.
The approvals were issued under the Foreign Military Sales (FMS) programme and notified to the US Congress. The US Department of State said the proposed support arrangements are intended to strengthen India’s defence preparedness and contribute to regional security and stability in the Indo-Pacific region.
Officials noted that the proposed support packages would not alter the military balance in the region and would further reinforce growing strategic and defence ties between India and the United States.
Kochi, May 19 : Muthoot Finance Ltd., India’s largest gold loan NBFC, has been ranked as the No. 1 Most Trusted Brand in the Financial Services category in TRA Research’s Brand Trust Report 2026, marking its 10th consecutive year of achieving this distinction.
The TRA Brand Trust Report is one of India’s most comprehensive syndicated studies on consumer trust, evaluating brands across sectors based on a robust framework that combines both rational and emotional drivers of trust, ultimately influencing buying intent.
This continued recognition reflects Muthoot Finance’s strong legacy of trust, customer-first approach, and consistent focus on delivering reliable, transparent, and accessible financial solutions to millions of customers across India. As India’s largest gold loan NBFC, the company has built deep-rooted relationships across urban and rural markets, supported by its extensive consolidated branch network of over 7,500 branches and presence across 29 states and union territories, reinforcing its position as a dependable and widely accessible financial partner. The company now serves over 2.5 lakh customers every day across India, reflecting its deep reach and strong trust among households.
Commenting on the achievement, Alexander George Muthoot, Joint Managing Director, Muthoot Finance, said,
“Being recognised as India’s most trusted financial services brand for the 10th consecutive year is a matter of immense pride and responsibility for us. This milestone is a reflection of the unwavering trust our customers have placed in us across generations, and it inspires us to continue raising the bar in everything we do. At Muthoot Finance, trust is not just a value, but the foundation of our business. We have consistently focused on delivering transparent, customer-centric financial solutions while embracing innovation to meet evolving customer needs. As we move forward, we remain committed to strengthening this trust, expanding access to credit, and empowering individuals and businesses across India to achieve their financial goals.”
As a pioneer in formalising the gold loan segment in India, Muthoot Finance has played a pivotal role in transforming gold loans from an informal borrowing option into a structured, transparent, and widely accepted financial product. This recognition further reinforces how gold loans are increasingly being perceived as a smart, reliable, and trustworthy credit solution, particularly for households seeking quick and secure access to funds.
Muthoot Finance has also been certified as a Great Place to Work for five consecutive years by the Great Place to Work Institute, reflecting its sustained focus on employee wellbeing, a culture of trust, and a supportive, people-first work environment. The company was also recently recognised among the Top 50 India’s Best Workplaces™ in BFSI 2026 by Great Place to Work.
Muthoot Finance, which recently completed 15 years since its IPO, is also the first listed company from Kerala to cross a market capitalisation of ₹1 lakh crore and is a constituent of the NIFTY Next 50. The company is also classified as an Upper Layer NBFC. In addition, Muthoot Finance has undertaken extensive initiatives in CSR, and ISR, investing approximately ₹500 crore since 2014 and impacting over 5 million lives across India.
Muthoot Finance’s sustained leadership in the TRA Brand Trust rankings underscores its ability to build long-term relationships with customers by combining trust with service excellence and innovation. The recognition also highlights the company’s continued efforts in strengthening its brand equity while adapting to changing customer expectations and market dynamics.
Abu Dhabi, UAE – 19 May 2026: AD Ports Group (ADX: ADPORTS), a leading global enabler of integrated trade, industry and logistics solutions, has signed a partnership agreement with Borouge Plc (ADX: BOROUGE), a leading petrochemical company providing innovative and differentiated polyolefin solutions, to explore expanded collaboration opportunities aimed at enhancing export resilience and operational flexibility.
The agreement paves the way for both parties to collaborate on the establishment of an alternative international export hub on the UAE’s East Coast, as an essential element of Borouge’s long-term export strategy. This initiative aims to strengthen export continuity while embedding resilience by design across Borouge’s logistics network.
The collaboration will leverage AD Ports Group’s strong marine connectivity and access to its comprehensive port services of Fujairah Terminals and Eastern ports facilities in the UAE, while assessing the development of dedicated polyolefins infrastructure on the East Coast.
Both parties will assess ways to reduce reliance on constrained maritime passages and enhance flexibility in vessel scheduling and routing through joint engagement with shipping lines to enable new routes via Fujairah Terminals. Together, these efforts aim to support stable and reliable export flows across a diversified portfolio of ports and logistics facilities.
Saif Al Mazrouei, Chief Executive Officer, Ports Cluster – AD Ports Group, said: “We look forward to collaborating with Borouge to explore opportunities that leverage AD Ports Group’s integrated port and logistics capabilities to support essential industrial exports and strengthen regional and global trade connectivity in line with the vision of our wise leadership.”
Hazeem Sultan Al Suwaidi, Chief Executive Officer of Borouge Plc, added: “This strategic partnership marks a significant step forward in Borouge Plc’s logistics capabilities, supporting our continued growth. Together with AD Ports Group, we are building a more flexible and diversified network that enhances reliability, ensures continuity of supply, and reinforces our position as a trusted global supplier, supporting the UAE’s industrial strategy.”
Borouge Plc is the largest exporter through AD Ports Group. This collaboration builds on a longstanding partnership between the two companies established in 2001, and reflects the shared ambition of AD Ports Group and Borouge Plc to strengthen supply chain resilience and reinforce the UAE’s position as a globally competitive logistics and industrial hub.
| The collection draws inspiration from the destination’s ancient landscapes and legacy as a source of inspiration and creativity, translating heritage into wearable modern art |
Renowned Saudi Arabian fashion label HINDAMME and Arts AlUla’s Madrasat Addeera, a platform dedicated to creativity and traditional arts inspired by heritage, today revealed a limited-edition, slow fashion collection inspired by AlUla’s more than 7,000 years of continuous human heritage and iconic natural landscapes.
Designed by one of Saudi’s leading fashion names, Mohammed Khoja, and co-created with more than 26 local artisans from Madrasat Addeera, this exclusive launch champions Saudi craftsmanship and heritage with a distinctly modern take.

The collection features a refined selection of stylish abayas and shirts made from diverse materials capturing the essence of AlUla as the crossroads of ancient civilisations. Motifs reflect rock carvings – or petroglyphs – from AlUla’s millennia-old heritage sites, such as the open-air library of Jabal Ikmah known for its Dadanitic and Lihyanite inscriptions dating to the first millennium BCE. Intertwined with the petroglyphs are illustrations of indigenous flora and fauna, from the moringa plant to the Arabian oryx, translating AlUla’s natural and human heritage into contemporary wearable art.
Madrasat Addeera, located in the AlJadidah Arts District, was once home to the region’s first girls’ school. Today, its building has transformed into the first arts and design centre in AlUla where craft skills and practices are passed down and reimagined through immersive, hands-on training. A community-driven initiative, it provides vocational training in traditional arts to support AlUla and the region’s creative economy as well as a year-round public programme where visitors of all ages can attend traditional arts workshops.
The partnership underscores Madrasat Addeera’s role as a hub for heritage-driven creativity and artisan empowerment shaping AlUla’s cultural and creative landscape. Khoja worked directly with the school’s artisans to develop eight unique designs that authentically capture local identity and creative traditions, including block printing, hand embroidery, silk-screen printing and metalwork. Each piece took between one and two months to complete, demonstrating slow fashion principles and the meticulous labour of handmade products.
“AlUla has been a source of inspiration and creativity. This legacy, reflected across its heritage sites and natural landscapes, is brought to life through this collection by HINDAMME in collaboration with Madrasat Addeera’s skilled artisans,” said Hamad AlHomiedan, Director of Arts and Creative Industries, RCU.
“This collaboration embodies our commitment to transforming local heritage and craftsmanship into a vibrant creative economy that benefits AlUla and its people. Supporting local craftsmanship and handmade products, particularly as the world becomes more digitised and globalised, is key to preserving Saudi identity for generations to come. This collection celebrates this tangible heritage and how AlUla’s remarkable history continues to influence creative expression in the Kingdom and beyond.”
The HINDAMME and Madrasat Addeera collection builds upon a legacy of collaboration between Mohammed Khoja and AlUla. In 2019, the designer developed a bespoke collection inspired by the destination’s history as a crossroads of ancient civilisations, which was exhibited at the National Museum of Saudi Arabia.
“AlUla has always been a profound source of inspiration for me,” commented designer Mohammed Khoja. “It is a place where history feels alive, layered and deeply present. This collection is about proving that heritage is not something we preserve behind glass, but something we evolve, wear and carry forward. The artisans were central to this collaboration. Their knowledge, intuition and approach to craft added depth and authenticity, and learning about Madrasat Addeera building as the first girls’ school in the region added an emotional depth. The memory held within that space, and its transformation into a place of creation, is a powerful narrative within the collection.”
“It has been such an honour to be a part of this project,” said Mona Al Joud – Textiles Artisan at Madrasat Addeera. “There was so much to learn from someone as established as Mohammed Khoja, and it was exciting to share our knowledge and skills in exchange. This collection is a letter from the people of AlUla to Saudi and the world. A lot of love, precision and intention go into each stitch and cut. I hope that people can appreciate that every piece carries our story.”
SINGAPORE – May 19, 2026 – Planetcast, a global leader in media services and technology, today announced its expanding media delivery and distribution footprint ahead of BroadcastAsia 2026.
Anchored by the region’s largest commercial teleport and a hybrid delivery ecosystem spanning broadcast, IP, OTT and cloud-based workflows, Planetcast is helping media companies manage rising distribution complexity while improving flexibility, reliability and speed to market.
Backed by WTA Tier 4 certification and a Global Top 10 teleport ranking, Planetcast combines large-scale infrastructure with broadcast-grade reliability to support increasingly complex live and linear streaming operations. Today, Planetcast powers more than 450 channels worldwide, reaches 1.3 billion viewers and supports more than 50 leading media brands.
With facilities in Noida and Singapore, Planetcast’s infrastructure supports flexible delivery across the GSAT, Intelsat and AsiaSat networks, while enabling hybrid satellite, IP and OTT workflows designed for modern multi-platform distribution.
At BroadcastAsia 2026, Planetcast will demonstrate how its integrated technology ecosystem enables broadcasters and content owners to manage the content supply chain through a more unified operational model. Demonstrations at Booth 5C1-1 will feature Cloud.X for cloud playout, ReCaster for IP transport, MediaHQ for orchestration, Contido for media asset management and BATS for teleport operations.
ReCaster, Planetcast’s IP-based signal transport platform, now supports hybrid deployment models with SRT, RIST and UDP protocols, enabling broadcasters to deliver high-quality live content with approximately 2,500ms latency across distributed environments. The platform supports both SPTS and MPTS workflows, as well as mixed-mode operations for large-scale, multi-destination distribution. Today, ReCaster is deployed by more than 50 customers across Asia, the Middle East and the Caribbean.
Planetcast will also highlight real-world deployments that demonstrate the growing convergence of broadcast and streaming infrastructure.
beIN SPORTS Asia Pacific is using Cloud.X and ReCaster to support dynamic live sports workflows across APAC, including:
Planetcast also supports global live streaming and 24/7 channel operations for Willow by Cricbuzz, managing live ingest, multi-format distribution, ad insertion and compliance across international markets.
“Broadcasters across APAC must deliver more content to more endpoints without adding complexity,” said Mark Johns, Head of International Sales & Marketing at Planetcast. “At BroadcastAsia, we’re showing how hybrid infrastructure — spanning teleport, cloud, IP and OTT — helps customers scale faster, simplify operations and support both traditional broadcast and streaming.”
Together, these deployments reflect how broadcasters and streaming platforms are increasingly adopting hybrid infrastructure models that unify satellite, IP and OTT delivery into more scalable and efficient operational frameworks.
At BroadcastAsia 2026, Planetcast will showcase workflow demonstrations covering live ingest, cloud playout, IP transport, OTT packaging, ad insertion, compliance and multi-market distribution, highlighting how broadcasters and content owners can launch channels faster, simplify operations and deliver content more efficiently across satellite, IP and streaming environments.
To learn more or schedule a meeting, visit www.planetc.net or stop by Booth 5C1-1.

Chennai, May 19: KCG College of Technology, a premier unit of the Hindustan Group of Institutions (HGI), has signed a Memorandum of Understanding (MoU) with Sumeet Urban Services (Chennai) V Pvt Ltd (Urbaser Sumeet) to strengthen industry-academia collaboration in the areas of sustainability, waste management, environmental awareness, and skill development.
The collaboration aims to create a long-term industry-integrated sustainability model that will actively engage students in solving real-world urban environmental challenges in Chennai.
The MoU signing ceremony was held at the KCG campus in the presence of Mr Albert Gleiser Ignacio, Managing Director; Mr S. Shankar, Zonal Manager; Ms Komal Gotham Chand, Head – IEC; and Mr Vignesh, Manager – IEC, representing Sumeet Urban Services, alongside Dr Annie Jacob, Director, and Dr G. Prabhakaran, Principal In-Charge of KCG College of Technology. The event also saw the participation of faculty members, Heads of Departments, students, and institutional representatives.
The partnership will focus on sustainability initiatives, waste management awareness, green innovation, social responsibility, and practical exposure for students in environmental systems and urban sanitation management.
As part of the initiative, students are expected to participate in clean-up drives, awareness campaigns, sustainability workshops, internships, innovation challenges, and field-level waste management activities over the coming academic cycles.
Speaking on the occasion, Dr Anand Jacob Varghese, Chairman, Hindustan Group of Institutions, emphasised the importance of developing civic consciousness and environmental responsibility among students from an early stage.
“Engineering education today must go beyond laboratories and classrooms. When our students walk alongside conservancy workers, manage waste drives, and design recycling solutions for their own city, they are not just learning — they are becoming the kind of engineers and citizens Chennai needs. This partnership with Urbaser Sumeet is a step towards making that the norm, not the exception,” said Dr Anand Jacob Varghese.
He noted that institutions must play an active role in nurturing socially responsible engineers and innovators capable of contributing to sustainable urban development.
Dr Annie Jacob, Director, KCG College of Technology, highlighted the role played by Urbaser Sumeet in Chennai’s conservancy and sanitation ecosystem and expressed confidence that the collaboration would lead to meaningful student-led environmental engagement programmes.
“Urbaser Sumeet manages one of Chennai’s most critical urban services, and having that expertise embedded into our campus programmes is a significant advantage for our students. From internships in waste vehicle operations to the Edubridge initiative for conservancy workers’ children, this collaboration is built around real impact — not just awareness,” said Dr Annie Jacob.
She further noted that the collaboration will help bridge classroom learning with practical environmental problem-solving through direct industry exposure and community participation.
Under the MoU, students of KCG College of Technology will participate in clean-up campaigns, awareness drives, workshops, and internships related to waste management systems and vehicle operations.
The collaboration will also include hackathons, innovation challenges, practical training sessions, and professional certification opportunities focused on environmental sustainability and circular economy practices.
The partnership is also expected to encourage research-oriented projects in areas such as waste segregation, recycling systems, circular economy models, and smart urban sustainability solutions.
One of the major initiatives under the collaboration is “Edubridge,” a programme aimed at supporting the education and empowerment of children of conservancy workers.
The initiative also seeks to create stronger community engagement and social inclusion by recognising and supporting the families of frontline sanitation workers.
Urbaser Sumeet will additionally serve as the hygiene partner for major institutional events at KCG and will demonstrate best practices in source segregation, solid waste management, and urban cleanliness systems.
Mr Albert Gleiser Ignacio, Managing Director, Urbaser Sumeet, reaffirmed the organisation’s commitment to collaborative environmental action.
“We operate on the ground every day across Chennai’s neighbourhoods, and we know that lasting change in how a city handles its waste begins with how the next generation thinks about it. Partnering with KCG gives us the opportunity to bring that ground reality into an academic setting and build a pipeline of professionals who are genuinely invested in sustainable urban systems,” said Mr Albert Gleiser Ignacio.
The collaboration promotes the principles of Reduce, Reuse, and Recycle (3R) and aims to foster environmentally conscious practices among students and the larger academic community.
Both organisations also expressed their commitment to building a scalable and replicable model for sustainable campus-community partnerships in the future.
London, UK – 19 May 2026 – Paymentology, the leading global issuer-processor, today announced the appointment of Fiona Tee as Chief Financial Officer, as the company continues to build on its recent momentum following a strategic investment, brand evolution and the next phase of global growth.
Fiona joins Paymentology from Currencycloud, where she spent nine years helping scale the business through a period of significant growth, culminating in its successful acquisition by Visa. She brings more than 25 years of finance leadership experience across fintech and technology, with a strong track record supporting multinational, venture-backed and private-equity-backed businesses through rapid growth, transformation, fundraising, exits and international expansion.

Her appointment comes at a significant moment in Paymentology’s growth journey. Earlier this month, Paymentology announced a $175 million strategic investment from Apis Partners and Aspirity Partners to accelerate its global expansion and continued innovation in modern issuer-processing infrastructure. The company also recently unveiled a new brand identity, reflecting its evolution into a globally scaled, cloud-native payments infrastructure provider supporting banks, fintechs and financial institutions across nearly 70 countries.
Jeff Parker, CEO of Paymentology, said: “Fiona joins us at an incredibly exciting time for Paymentology. As demand for modern issuer-processing infrastructure continues to accelerate globally, her experience scaling fintech businesses and navigating transformational growth will be invaluable as we enter our next phase. She brings deep financial and commercial expertise, alongside a strong entrepreneurial mindset and proven experience supporting high-growth international businesses. I’m delighted to welcome her to the executive leadership team.”
In her new role, Fiona will work closely with the Paymentology team to help deliver Paymentology’s five-year strategy, supporting customer excellence,new market entry, disciplined execution, and the financial performance needed to drive sustainable profitability as the business continues to scale.
Fiona Tee, CFO added: “Paymentology is at a pivotal moment, with strong momentum, ambitious growth plans and a clear opportunity to scale its impact globally. What stood out to me immediately was the strength of the business, the quality of the team and the commitment to delivering exceptional outcomes for customers. I believe sustainable growth comes from a clear strategy, strong financial discipline and a culture that is aligned around execution. I’m excited to join Paymentology at this next stage and help build on the strong foundations already in place.”
As Paymentology continues to expand globally, the company remains focused on enabling traditional banks, digital banks and fintechs to launch, scale and modernise card programmes through flexible, cloud-native payments infrastructure designed for the next generation of financial services.
Mumbai, May 19 : India’s college festivals have traditionally followed a simple format institutions organise, students participate.

But a growing shift is underway in campus culture, where students are no longer just attendees. They are becoming builders, operators, marketers, creators and community leaders themselves.
At the centre of this shift is the Under25 Summit At Campus (SAC), a decentralised youth festival model that has expanded from just 7 Summits across 3 cities in 2024 to over 200 student-led Summits across 36 cities in less than two years, reaching over 1.2 million students on ground.
What began as an experimental campus initiative has now evolved into one of India’s largest student-led youth engagement ecosystems.
To recognise the Indian students driving this movement, Under25 hosted the third edition of – “Under25 Campus Awards 2025–2026” under the theme #IBuiltDifferent on Instagram Live, spotlighting the organisers, creators and campus leaders shaping a new era of student-led experiences across the country.
Jeel Gandhi, CEO of Under25, mentions,
“At a time when internet culture is increasingly shaped by communities instead of institutions, the awards marked a unique moment for India’s campus ecosystem: where student leadership, creator culture and digital participation came together on a national scale.”
The awards saw participation from over 250 colleges and universities including Bennett University, Christ (Deemed to be University), Pandit Deendayal Energy University (PDEU), Ajeenkya DY Patil University, Shoolini University, BVDU Navi Mumbai, Poornima Engineering College and Reva University, among others.
The platform received over 800 nominations across 27 categories spanning campus leadership, event execution, creator campaigns, student engagement, brand integrations and cultural impact. A total of 35 winners were recognised across categories including Public Choice Awards, Backbone Awards, Brand Awards, Superlatives, Do It For The Gram Awards and Big Bang Awards.
Unlike conventional college fests, SACs operate through Under25’s Fellowship model, where students independently conceptualise and execute Summits on their campuses. From partnerships and sponsorships to production, programming, creator outreach and audience growth, students lead every aspect of the experience themselves.
Over time, the model has evolved into a live experimentation ground for youth engagement, creator-led communities and campus culture. SACs have brought together students with entrepreneurs, artists, creators and cultural voices including Dolly Singh, Sanya Malhotra, Buvan Bam, Prajakta Koli, Avinash Tiwary and Kishore Biyani, among others, across campuses in India.
For many students, the impact has gone beyond events.
For Shubham Gaikwad from Khopoli, on the outskirts of Mumbai, the SAC Awards marked a defining personal milestone. Alongside BVDU Navi Mumbai’s sweep of five awards, Shubham was recognised as Fellow of the Year – reflecting the larger spirit behind #IBuiltDifferent: students stepping beyond participation and becoming leaders within their own communities.
The rapid growth of SACs reflects a wider shift in how Gen Z engages with culture, communities and identity itself. Instead of passively consuming experiences, young people increasingly want participation, visibility and ownership in shaping them.
Jeel adds,
“We realised very early that young people don’t just want events anymore, they want ownership. SACs work because students aren’t volunteering at the edges; they are building the entire experience themselves. What started as a campus initiative has now become a nationwide network of student-led cultural infrastructure across India.”
As brands, creators and institutions look for more meaningful ways to engage youth audiences, student-led ecosystems like SACs are emerging as far more than just campus events or properties. In a country with one of the world’s youngest populations, they are becoming cultural infrastructure and a blueprint for how India’s next generation wants to gather, create, collaborate and lead — online, offline and increasingly, on their own terms.
Sharm El Sheikh, Egypt/ Abu Dhabi, UAE – 19 May 2026: AD Ports Group (ADX: ADPORTS), a leading global enabler of trade, industry, and logistics solutions, today announced the commencement of cruise services at its three terminals in Sharm El Sheikh, Hurghada, and Safaga in Egypt, in addition to facilitating ferry services connecting Safaga and NEOM ports to support transport of Hajj workers between Egypt and Saudi Arabia.
In 2024, AD Ports Group signed a 15-year concession agreement with Egypt’s Red Sea Ports Authority to manage, develop, and operate the three cruise terminals and associated ferry operations on Egypt’s Red Sea coast.
Sharm El Sheikh Cruise Port welcomed the arrival of “Aroya”, the largest mega cruise ship ever to dock directly in the coastal city, marking the beginning of a new era for cruise tourism in the Red Sea.
Aroya’s arrival at Sharm El Sheikh was enabled by the Egyptian Ministry of Transport and the Red Sea Ports Authority’s upgrades to the port’s docking capabilities, delivered in close collaboration with AD Ports Group.
Noura R. Al Dhaheri, Chief Executive Officer of Cruise Business, AD Ports Group, said: “The launch of AD Ports Group’s cruise and ferry terminal services in Egypt underscores our commitment to advancing cruise tourism across the Red Sea, while driving sustainable economic value in the markets where we operate. Through close collaboration with our partners, we will continue to elevate passenger experience by delivering world-class facilities and seamless services.”
The arrival of “Aroya” in Sharm El Sheikh marks the first of several scheduled calls by the mega cruise vessel in 2026, reinforcing Sharm El Sheikh’s position, alongside Hurghada and Safaga, as regular destinations on regional and international cruise itineraries. Aside from its main cruise terminal operations in the UAE, the Group also manages and operates the Aqaba Cruise Terminal in Jordan through a partnership with the Aqaba Development Corporation (ADC).
Egypt and the Red Sea are a focus of AD Ports Group’s expanding global network of integrated trade, transport, and logistics facilities. Beyond its container feeder shipping and stevedoring services, the Group in Egypt this year will inaugurate Noatum Ports Safaga Terminal, a USD 200 million multipurpose cargo terminal and major trade gateway for southern (Upper) Egypt. The Group is also developing the 20 km2 KEZAD East Port Said Industrial and Logistics Park with Egyptian partners at the Mediterranean mouth of the Suez Canal.
In November 2025, AD Ports Group invested 13.2 billion Egyptian pounds (USD 279 million) to acquire a 19.3% stake in one of Egypt’s largest container terminal operators, Alexandria Container & Cargo Handling Company (ALCN), and subsequently moved to acquire a majority stake in the company.
The commencement of passenger ferry and cruise terminal services in Sharm El Sheikh, Hurghada, and Safaga, marks the latest milestone in the Group’s ongoing investment in Egypt, and its support of Egypt’s cruise tourism and maritime connectivity ambitions.