Greenstone gets license to promote financial products

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Alex Gemici, chairman of Greenstone Equity Partners.
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Omar Al-Gharabally, president and partner of Greenstone Equity Partners.
Updated 16 June 2019

Greenstone gets license to promote financial products

Greenstone Equity Partners, the largest fund placement firm in the Middle East, has become the first firm of its kind to obtain a license to promote financial products and foreign securities by the UAE’s Securities and Commodities Authority (SCA).
The SCA has granted Greenstone’s UAE subsidiary, Greenstone Equity Partners Financial Products Promotion L.L.C., a license to perform the activities of financial product and foreign securities promotion.
Under the new license, Greenstone will be able to carry out fund placement activities for its clients by registering funds with the SCA and providing international and local investment options for institutional and noninstitutional investors in the UAE.
“Securing this prestigious license marks a significant landmark in the growth story of Greenstone, cementing us as the leading placement firm for capital raising in the Middle East,” said Alex Gemici, chairman of Greenstone Equity Partners.
Omar Al-Gharabally, president and partner of Greenstone Equity Partners, said: “This license is an important cornerstone of Greenstone’s vision to be ‘within 30 minutes driving distance of every investor we cover,’ which we feel is the only effective way to establish the most productive relationships with our investors.”


LuLu to fly 12 students from Kingdom to NASA

Updated 56 min 46 sec ago

LuLu to fly 12 students from Kingdom to NASA

LuLu, the largest hypermarket chain in the Middle East, awarded a total of 12 young students of different nationalities from Saudi Arabia, India, Philippines, and Egypt, a chance to visit the NASA center in the US.
LuLu’s back-to-school promotion called “Fly to NASA” was held in partnership with Almarai. The hypermarket hosted a competition last September in search of students who are science and space knowledge enthusiasts to experience and visit the NASA center in Huntsville, Alabama.
Shehim Mohammed, LuLu Hypermarket director of Saudi Arabia, said: “We are glad to finally announce the winners of this innovative campaign, which is a first and the most unique among our activations over the years of operating in the region. Thank you to our partner Almarai for joining hands with us in this exciting promotion. This is the first time that LuLu will lead a great opportunity to children who have the high potential to grow and learn more while having fun through science.”
Winners include: Abrez Hussain, Mohammed Ahmed, Rayyan Abdul Aziz, Naif Saad Altwaim, Osama Al-Harbi, Hugh Matthew, Khalid Abdul Aziz, Munther Mohammed Qasim Abujazar, Ahmad Gahwagy, Ahmed Khalaf, Hamza Ladha and Asif Rijo.
“Fly to NASA” winners will get to enjoy and experience a one-week trip, which will include five days of fun and learning at NASA’s Space Camp. The selection process involved two phases — first was the preliminary online registration, while the final stage featured a live quiz to obtain the top 12 winners. Students aged 9 to 18 years were encouraged to register and join the online activation.
With 185 stores operating worldwide, LuLu is the fastest growing retail chain across 10 countries, which include the GCC, India, Egypt, Indonesia, and Malaysia. Founded in the early 1990s, it has successfully expanded to different parts of the world, garnering more than 1,600,000 shopping patrons everyday.
LuLu is one of the favorite shopping destinations in Saudi Arabia, where it offers a broad selection of international products. It is one of the Middle East’s top employers with its workforce numbering to 50,000.