Lumi and MachinesTalk sign SR28m tech agreement

Nawaaf Al-Shalani, CEO of MachinesTalk, and Syed Azfar Shakeel, CEO of Lumi, sign the agreement.
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Updated 05 December 2023
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Lumi and MachinesTalk sign SR28m tech agreement

To revolutionize vehicle sharing and enable digital transformation, Lumi, a car rental company, has signed a five-year SR28 million ($7.46 million) agreement with MachinesTalk, a leading IoT solutions provider in Saudi Arabia. The agreement will enable the upgrade of fleet management through technologies such as the Internet of Things and artificial intelligence, in collaboration with the satellite supported car sharing platform, AnyCar.
AnyCar will transform Lumi’s fleet into a digital sharing ecosystem. This ensures complete control over vehicles and provides an enhanced self-service experience for Lumi’s customers. Additionally, it guarantees maximum utilization of vehicles, enhances operational efficiency, and improves the overall user experience.
The collaboration enables the analysis of security situations and provides accurate information on vehicle movement. These capabilities have been strategically designed to improve processes and ensure seamless operations.

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The agreement will enable the upgrade of fleet management through technologies such as the Internet of Things and artificial intelligence, in collaboration with the satellite supported car sharing platform, AnyCar.

Lumi provides individuals, companies, and governments with access to some of the latest transportation and leasing offerings in Saudi Arabia backed by state-of-the-art digital channels.
Syed Azfar Shakeel, CEO of Lumi, said: “With digital technology revolutionizing every industry, including car rentals, we are committed to leveraging advanced solutions that add excellent value for our stakeholders. The new technology agreement will draw on machine learning and the IoT to predict, identify and monitor trends to enable our customers to achieve higher levels of cost efficiency in addition to increased productivity across our operations.”
Nawaaf Al-Shalani, CEO of MachinesTalk, added: “We’re delighted to have signed this agreement with Lumi, which aims to promote IoT and AI in the transportation sector, facilitate digital transformation, enhance traffic safety, maximize vehicle utilization by analyzing real-time data and provide valuable services to customers. This partnership represents a significant step toward sustainable digital mobility.”
Lumi started its operations in 2006 as a sole proprietorship to provide car rental services among a portfolio of travel companies under the umbrella of Seera Group Holding. In 2016, strategic plans for the car rental business were reconfigured and an expert management team was appointed. The company has emerged as one of the leaders in the car rental sector, serving customers across the central, western, eastern, northern and southern regions from 35 car rental branches and three vehicle maintenance centers, in addition to mobile workshops and third-party vendors, digital channels and a used car sales showroom.

 


GIB Capital strengthens regional leadership with $2.1bn ICM transactions

Updated 15 December 2025
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GIB Capital strengthens regional leadership with $2.1bn ICM transactions

GIB Capital, one of the region’s leading financial and investment banking advisers, has announced the successful execution of three major international capital markets transactions in November, underscoring the firm’s growing influence and distribution strength across global debt markets.

In a single month, GIB Capital acted in joint lead manager roles across three landmark issuances — supporting clients in the banking, aviation and government sectors — and attracting an aggregate of more than $4.6 billion in investor demand from the Middle East, Europe, Asia, the UK and the US. These transactions, which collectively raised over $2.1 billion, further demonstrate the confidence international investors place in GCC issuers and the strategic value GIB Capital brings to each mandate.

The firm began the month by serving as joint global coordinator, joint lead manager and bookrunner on the inaugural ICM issuance for GIB — Saudi Arabia. The $500 million perpetual non-call 5.5-year additional Tier 1 instrument was priced on Nov. 5 and generated an impressive $1.3 billion in orders, achieving a 2.6-times oversubscribed orderbook. The strong participation from regional, UK, Asian and European investors reflect the bank’s robust credit fundamentals and GIB Capital’s ability to deliver global reach for its clients.

On the same day, GIB Capital also acted as joint lead manager and bookrunner for AviLease’s first-ever ICM transaction — an $850 million bond offering that attracted exceptionally strong interest, closing in at over 3.7 times oversubscribed orderbook. The transaction drew participation from a diverse pool of regional, US, UK, European and Asian investors, highlighting the appeal to Saudi Arabia’s fastest-growing aviation leasing company. 

Further reinforcing its leadership in Islamic finance, GIB Capital concluded the month as joint lead manager and bookrunner on the government of Sharjah’s $750 million sukuk issuance, priced on Nov. 18. The transaction secured $2 billion in orders, representing a 2.6-times oversubscribed orderbook, with interest coming primarily from regional, UK and European accounts. This issuance marked government of Sharjah’s first US dollar public issuance in 2025 and benefited from strong investor confidence toward Sharjah’s credit story and in GIB Capital’s advisory expertise.

Commenting on the milestone month, Osamah Mohammed Shaker, CEO of GIB Capital, said: “These three successful issuances reflect the depth of trust our clients place in GIB Capital and the strength of our distribution network across global markets. The robust oversubscriptions and high-quality investor participation are clear indicators of the continued confidence in GCC credit stories and the resilience of the region’s economic outlook. We remain committed to delivering best-in-class execution, innovative structuring, and strategic advisory that enable our clients to access international liquidity efficiently and competitively.”

With a growing portfolio of successful mandates, GIB Capital continues to expand its presence as a leading provider of debt capital markets solutions, capital markets advisory, mergers and acquisitions, debt advisory, asset management and brokerage services. Combining deep regional insight with global investor connectivity, the firm remains committed to supporting clients across sectors with innovative, tailored, and high-impact financial solutions.