Unlocking Saudi Arabia's Vision: Altea Partners Appoints Nawaf AlOtaibi as CEO

RIYADH, Saudi Arabia, - Altea Partners just dropped a major move. The privately-owned merchant banking firm announced the appointment of Nawaf AlOtaibi as Chief Executive Officer of Altea Partners Saudi Arabia. 

This bold step highlights their growing commitment to the Kingdom. Moreover, the firm established its onshore platform through a strategic partnership with a leading Saudi investment holding company. Consequently, once regulatory licenses are secured, operations will fully launch onshore. 

Building Bridges Across Continents

Altea Partners actively facilitates capital flows to support Saudi Arabia's Vision 2030 transformation agenda. Furthermore, the company, founded in 2024, already operates across Europe, the Middle East, and North America. 

Nawaf AlOtaibi brings over 20 years of leadership experience in Saudi financial services. Previously, he spent a decade at BSF Capital, where he built one of the Kingdom's top wealth management platforms. He transformed the business from a product-led sales model into a fully advisory-driven powerhouse, serving private clients, family offices, and institutional investors across the GCC. 

As CEO, Mr. AlOtaibi will lead domestic operations and connect Saudi Arabia and the wider GCC with Europe and North America. Thus, he will deliver aligned capital and trusted advice to drive long-term value. 

"We are delighted to welcome Nawaf," said Co-Founders Henning Behre and Kabir Chhatwani. "His track record and alignment with our partnership-driven approach will prove invaluable."

Mr. AlOtaibi added that Altea Partners' entrepreneurial culture perfectly matches the opportunities created by Vision 2030. He looks forward to building the platform into a partner of choice for founders, families, and long-term investors. 

Big Chemical Power-Up: Praana Group Snags Multi-Chem and Levels Up Big Time

Praana Group today announced the completion of its acquisition of Multi-Chem, now operating as Sterling MultiChem within the Sterling Specialty Chemicals platform. This move strengthens Praana Group's specialty chemicals platform and expands its energy-sector capabilities. 

Moreover, the combination brings together Sterling Specialty Chemicals' expertise in specialty chemical manufacturing, polymer technologies, and advanced surfactant systems with Multi-Chem's field service capabilities. Consequently, it enhances the ability to support oil and gas operators with high-performance chemical solutions and technical expertise across upstream, midstream, and downstream operations.

Why This Deal Rocks the Oilfield World

Multi-Chem has built a strong presence in the oilfield chemicals sector through application-driven programs designed to address complex operational and production challenges. Its solutions support operators across the energy value chain, including chemicals used in drilling, completion, and production, as well as programs focused on flow assurance, corrosion and scale management, water treatment, and process optimization. These capabilities help maintain asset integrity and improve operational performance across energy assets. 

Furthermore, customers will benefit from an expanded portfolio of specialty chemical technologies, stronger technical support, and deeper application expertise. Both organizations share a strong commitment to safety, operational excellence, and reliable solutions that help customers maintain efficiency and performance in demanding operating environments. 

"This acquisition aligns with Praana Group's long-term strategy of strengthening its global specialty chemicals platform through technology leadership, manufacturing excellence, and strong customer partnerships," said Vishal Goenka, Vice Chairman of Praana Group. Sterling Specialty Chemicals will maintain operational continuity for Sterling MultiChem as integration progresses.

Türkiye's Timeless Magic Meets Modern Travel: Wego x TGA Just Leveled Up Your Next Adventure

DUBAI, UAE - Wego, the number one travel app and the largest online travel marketplace in the Middle East and North Africa (MENA), has announced a strategic collaboration with the Türkiye Tourism Promotion and Development Agency (TGA). 

This partnership boosts how travellers discover, explore, and plan trips to Türkiye. It brings richer content and deeper insights straight into Wego’s platform. Travellers now enjoy intuitive tools that make planning seamless and exciting.

Moreover, the collaboration integrates Türkiye’s diverse offerings into one trusted ecosystem. Users confidently navigate iconic landmarks and hidden gems alike. 

Why Türkiye Keeps Calling MENA Travellers

Türkiye offers a compelling blend of ancient civilisations, Ottoman heritage, vibrant modern cities, Mediterranean and Aegean coastlines, and year-round travel appeal. Through Wego, travellers easily discover Istanbul’s historic neighbourhoods, Cappadocia’s surreal landscapes, the coastal charm of Antalya and Bodrum, and the restorative thermal springs of Pamukkale.

Furthermore, emerging destinations encourage deeper exploration beyond traditional routes. This partnership supports smarter trip planning for short city breaks, family holidays, or multi-stop itineraries. Travellers gain practical insights and seasonal highlights that match their interests perfectly.

Mamoun Hmidan, Chief Business Officer at Wego, said the collaboration enhances destination discovery. Sinan Seha Türkseven from TGA highlighted reaching trusted platforms to showcase Türkiye’s cultural familiarity and natural diversity across all seasons. 

Wego users now access UNESCO sites, culinary traditions, coastal escapes, wellness spots, and varied accommodations with strong air connectivity. This inspires meaningful journeys filled with stories, landscapes, and cultural layers waiting to be explored.