Sukoon Takaful PJSC ("Sukoon Takaful") today announced its financial results for the year ended December 31, 2024, reporting a significant turnaround and a return to profitability. Following a comprehensive restructuring and integration with its parent company, Sukoon Insurance, the company has demonstrated strong financial performance and operational improvements. Sukoon Takaful reported AED 172.4 million in Gross Written Contribution (GWC) for 2024 and achieved a net profit before tax of  AED 21 million, marking a successful turnaround. The company also boasts a robust solvency capital ratio of 174%  (minimum regulatory requirement: 100%), underscoring its strong financial position and ability to meet policyholder obligations. This positive result reflects the effectiveness of strategic initiatives ......read more

The new installation has been dubbed one of the largest rooftop solar projects in National Industries Park, Dubai Dubai, UAE – March 19, 2025: Hotpack Global, the UAE-based leader in sustainable packaging solutions, has successfully completed the installation of a 2.2 MW rooftop solar power system at its cutting-edge manufacturing facility in National Industries Park (NIP), Dubai. This milestone marks one of the largest solar energy installations in the NIP area, reinforcing Hotpack’s commitment to environmental sustainability and renewable energy adoption. The solar installation is projected to generate approximately 3.52 million kilowatt-hours (kWh) of clean energy annually, significantly reducing Hotpack’s dependence on conventional power sources. Additionally, the initiative is expected to cut 2,992 metric ......read more

19 March 2025: NBF held its Annual General Assembly Meeting (AGAM) at the Novotel Hotel, Fujairah, United Arab Emirates, where shareholders approved the distribution of profits equivalent to 15% of share capital in the form of cash dividends (AED 387.1 million) of paid-up capital. The bank's shareholders also approved the Chairman's and Directors' Reports, and the Internal Shari'ah Supervision Committee Report for NBF Islamic, the Islamic banking window of NBF. The bank's consolidated financial statements for the year ended 31 December 2024 were also discussed and approved. The shareholders confirmed the appointment and remuneration of the bank's external auditors, PricewaterhouseCoopers ("PwC") for the year 2025. The Board of Directors' remuneration proposal for its members was also ......read more

Commercial Bank of Dubai (CBD) has today announced it is the first bank in the Middle East to integrate the Kinexys Liink application Confirm from Kinexys by J.P. Morgan into its corporate banking portal and mobile app, reinforcing its position as a digital-first bank committed to driving real, impactful change in financial services. With a commitment to service transformation and a digital-first approach, CBD continues to lead in delivering solutions that matter. This integration provides CBD’s corporate clients with streamlined cross-border payment flows as a result of faster, more secure, and more efficient account validation. Kinexys Liink, the world’s first bank-led peer-to-peer data sharing network, is part of Kinexys by J.P. Morgan – the firm’s ......read more

By Daniela Sabin Hathorn, senior market analyst at Capital.com Consumer inflation has softened in February. That is the key takeaway from the latest data released on Wednesday. Both headline and core CPI came in lower than expected at 2.8% and 3.1% respectively. Additionally, both monthly readings also dropped from the previous month and came in below expectations at 0.2%. As anticipated, the initial market reaction was a relief rally in US equities, accompanied by a weaker US dollar and lower yields. However, this momentum has struggled to sustain itself. The dollar and yields have rebounded from their initial knee-jerk declines, turning higher, while equity indices have found limited buying interest to push significantly higher. Nasdaq 100 1-minute chart Past performance is not a reliable indicator of future results. In ......read more

More than 40 percent of the total investment dedicated to the U.S. underpins commitment to scale up the industry to meet surging transformer demand The U.S. investment includes hiring more than 100 people to expand domestic key component manufacturing to strengthen local supply chain Builds on the $6 billion USD investment announced in 2024 – the largest in the industry in recent years to respond to the urgent need to upgrade power grids Dubai, UAE, March 12, 2025 – Hitachi Energy announced today at CERAWeek additional major investments of more than $250 million USD by 2027 to expand global production of critical components for transformers. This rapid follow-up to the recently announced $6 billion USD investment across the company portfolio reflects the escalating transformer shortage, which continues to ......read more

Strong results and record alumina and hot metal production. Building global aluminium recycling business, and laying foundations for low carbon primary growth. Growing sales of CelestiAL solar aluminium. Record Emiratisation rate, and metal sales to UAE customers. Second consecutive year of AED 3.7 billion ($1 billion) dividend to shareholders. AED 1.8 billion ($488 million) impairment of Guinea Alumina Corporation. Abu Dhabi, United Arab Emirates, 12 March 2025: Emirates Global Aluminium, the largest 'premium aluminium' producer in the world, today announced strong financial results for 2024 and low carbon growth. EGA delivered adjusted Earnings Before Interest, Tax, Depreciation and Amortisation (adjusted EBITDA) of AED 9.2 billion ($2.5 billion), up from AED 7.7 billion ($2.1 billion) in 2023, ......read more

By Daniela Sabin Hathorn, senior market analyst at Capital.com US equity futures started the week on a weaker note, continuing the recent trend of softness. The Nasdaq 100 extended heavy losses from Asian and European trading sessions, shedding nearly 500 points (2.5%) at the US open. Investor sentiment remains fragile as uncertainty surrounding Trump’s tariff policies fuels concerns about a potential global trade war and its implications for economic growth. Recession fears have exacerbated the selling pressure on US equities, contributing to the market’s current downturn. The Nasdaq 100 has now slipped below all four of its key simple moving averages (20, 50, 100, and 200-day), failing to find support at these levels. Additionally, the Relative Strength Index (RSI) has dropped to 30 for the first time since August, ......read more

Global dividends grew to a record $1.75 trillion in 2024, up 6.6% on an underlying basis Headline growth of 5.2% reflected lower one-off special dividends and the stronger US dollar 17 countries out of the 49 in our index saw record dividends, including some of the largest payers such as the US, Canada, France, Japan and China Large companies making their first dividend payments made a disproportionate impact – Meta, Alphabet and Alibaba accounted for one fifth of global dividend growth in 2024 Globally 88% of companies raised dividends or held them steady in 2024 Q4 payouts rose 7.3% on an underlying basis Forecast 2025: Headline growth of 5.0% to record $1.83 trillion, up 5.1% on an underlying basis DUBAI, UAE - Global dividends grew to a record $1.75 trillion in 2024, according to the Janus Henderson ......read more

The launch follows the 10-Year Anniversary of IQOS Dubai, United Arab Emirates — March 3, 2025 — Philip Morris Middle East, an affiliate of Philip Morris International (PMI) (NYSE: PM) today announced the launch in the United Arab Emirates of IQOS ILUMA i, the latest and most innovative addition to PMI’s growing portfolio of smoke-free products for adults who would otherwise continue to smoke or use nicotine products. Today, whilst not risk-free, this range of better alternatives to cigarettes includes multiple generations of IQOS, the No. 1 tobacco heating system. The launch also follows the recent 10-Year anniversary of IQOS, originally launching in Nagoya, Japan in 2014. “We leverage science, world leading brands and commercial capabilities to provide better alternatives to our adult ......read more

Net profit reached AED 10.8 billion, growing 4.3 per cent year-over-year Full year dividend per share of 83 fils e&’s footprint expanded to 38 countries with a subscriber base of 189.3 million across the Middle East, Asia, Africa, and Central and Eastern Europe e& emerged as the ‘World’s Fastest Growing Brand’ with brand portfolio and investments value exceeding US$ 20 billion Abu Dhabi, 25th February 2025: e& has delivered record financial performance in 2024, reporting a consolidated net profit of AED 10.8 billion, an increase of 4.3 per cent year-over-year (YoY). This milestone reflects three years of strategic transformation, reinforcing the Group’s position as a global technology group. Consolidated revenues reached AED 59.2 billion, growing 10.1 per cent and 12.6 per cent ......read more

Abu Dhabi, UAE, February 18, 2025 - Kalyani Strategic Systems Limited, a wholly-owned defence subsidiary of Bharat Forge, proudly unveiled the MArG 45, mobile gun system mounted on a 4x4 all-terrain platform, at IDEX Abu Dhabi 2025. The prestigious launch was officiated by H.E. Shri Sunjay Sudhir, Ambassador of India to the UAE, reinforcing India’s commitment to advancing global defense technology. MArG 45 exemplifies Kalyani Group’s ingenuity in challenging conventions, integrating firepower, range, and mobility into a single, ground-breaking platform. Designed for rapid deployment and superior manoeuvrability, it is a “go-anywhere” gun with unparalleled shoot-and-scoot capabilities. Mr. Baba Kalyani, Chairman & MD, Bharat Forge Ltd., commented on this milestone: "This Mounted Gun Platform ......read more

Dubai, 14th February 2025 - Federal Bank, one of India's leading private sector banks, held a press conference in Dubai, marking Managing Director & CEO Mr. KVS Manian's maiden international media interaction since assuming office in September. During the event, Mr. Manian highlighted the deep-rooted connect that the Bank has with the NRI population in the Middle East, and the services rendered by its representative offices in UAE for the past 17 years. During his visit to UAE, the Bank unveiled a new NR Savings account variant – Prospera. The Prospera NRE Savings Account offers an impressive suite of benefits designed for the emerging affluent NRI segment which includes Complimentary Insurance Benefit up to ₹60 Lakh, complimentary airport lounge access, special rewards for debit card spends and other ......read more

Over 1,000 artists from across the UAE submitted artworks, focussed on the theme “Many Paths, One Destination” 12 February 2025: National Bank of Fujairah (NBF) is pleased to announce the winners of its fourth Art Prize, which attracted submissions from more than a thousand emerging and established artists from across the UAE. The winners were recognised during a ceremony held at the Fujairah Cultural Centre. The top six winners, who each received a cash prize and mentoring session from the esteemed judges, were: First place: Reem Al-Suwaidi Second place: Andrew Thompson Third place: Dorian Rogers Fourth place: Parul Parasramka Fifth Place: Mohamed Elkattan Fujairah-based winner: Shahid Altaf Awan This year, as well as the above six winners, the bank and the selection committee selected the top 50 artworks ......read more

Dubai Islamic Bank Full Year 2024 Group Financial Results   Robust growth in total income rising by 16% YoY to AED 23 billion. Pre-tax profit of AED 9.0 billion, solid growth of nearly 27% YoY. Strong balance sheet expansion of nearly 10% YoY to AED 345 billion. Sustained asset quality improvements with NPF ratio now at 4.0%, 140 bps lower YoY and beating guidance. Enhanced stake in the digital bank in Türkiye to 25%. Proposed dividend of 45%, subject to shareholder approval in AGM.   Dubai, February 11, 2025 Dubai Islamic Bank (DFM: DIB), the largest Islamic bank in the UAE, today announced its results for the financial year ending December 31, 2024. FY 2024 Highlights: Group Pre-Tax Profit registered AED 9,005 million up 27% ......read more

Dubai – February 10, 2025: Zoho Corporation, a leading global technology company, today announced its cutting-edge AI offerings – Zia Agents, Agent Studio, and Agent Marketplace, which will soon be rolled out across all MENA markets, including the UAE, Saudi Arabia, Egypt, Oman, Bahrain, Kuwait and Qatar. These new solutions represent a significant advancement in Zoho’s AI virtual assistant, Zia, utilising Agentic AI. This specialised subset of AI enables digital agents to make decisions, pursue complex tasks, and take autonomous actions with minimal human intervention. Zoho is introducing Agent Studio, an innovative platform that enables customers, partners, and developers in the MENA region to create their own custom agents, that can be localised to suit the needs of specific industry verticals or to automate ......read more

The forex market is as rewarding as it is challenging, and choosing the right broker is pivotal to your success. For many traders, one of the toughest decisions is choosing a reliable broker to trust with their capital. A dependable broker doesn’t just safeguard your funds; it can also improve your overall trading performance. The truth is, trading isn’t only about having technical skills or market knowledge. Even experienced traders can face serious losses if they work with the wrong broker. That’s why we’re here to explore what makes a broker trustworthy and introduce one of the top options in the industry: ITB Broker. An Overview of ITB Broker ITB, which stands for International Trading Brachium, is an online platform that connects traders to global financial markets. The ......read more

Dubai, UAE, 5 February 2025– BluSmart, the region’s first 100% electric full-stack premium limousine service, has been honoured with the prestigious 'Best Ride-Hailing Service of the  Year' award at the Middle East Truck & Fleet Awards 2025. This accolade reaffirms BluSmart’s commitment to delivering a sustainable, reliable, safe and premium travel experience in the UAE, ensuring exceptional customer service. The Truck & Fleet Awards recognizes companies that have demonstrated excellence in fleet management, transport, and mobility solutions. The award highlights BluSmart’s impact in revolutionizing the way people in the UAE travel, offering chauffer driven city rides, airport rides, hourly rental bookings within the city as well as drop-off to other Emirates. Commenting on the win, ......read more

Qatar’s digital payments market is rapidly expanding, with the number of users projected to reach 2.87 million by 2028. February 03, 2025: BKN301 Group, a London-based Banking-as-a-Service technology provider dedicated to empowering the financial industry and operating in European and MENA markets, has designated its Qatar office as the company’s regional headquarters for the MENA region, in line with its ongoing development strategy. This move highlights BKN301’s commitment to driving digital transformation across the region and advancing the fintech sector through its innovative solutions. By leveraging its global expertise in digital banking solutions, the new head office in Qatar, which is now fully operational, will serve as a regional hub, offering advanced BaaS Orchestrator solutions and cutting-edge ......read more

Company highlights Japan-quality innovations, sustainability and customer-centric strategies to address the unique needs and preferences of Nigerian market Lagos, Nigeria Panasonic Marketing Middle East & Africa (PMMAF) has unveiled its roadmap to support the company's growth journey in the Nigerian market this 2025 and beyond. With a strong focus on the air conditioning (AC) business, Panasonic aims to address the increasing need for high-quality climate control solutions in Nigeria, enhancing comfort and energy efficiency for both residential and commercial spaces. The brand's business strategy marks a renewed commitment to empower local consumers and businesses with new innovations that embody 'Japan Excellence,' further expanding its product portfolio to meet the rapidly growing demand for cutting-edge ......read more

NBF posted its second consecutive year of record results; achieving its best ever operating and net profit performance generated through strong balance sheet growth Net profit before tax grew 28.9% to reach AED 934.8 million; with net profit after tax of AED 850.1 million 29 January 2025: NBF is pleased to announce its results today for the year ended 31 December 2024 in accordance with the approval received from the Central Bank of the United Arab Emirates. Highlights: NBF recorded year-on-year growth of 28.9% to close the year at a net profit before tax of AED 934.8 million compared to AED 725.1 million in 2023. Further, NBF posted a record net profit after tax of AED 850.1 million for the year with a corporate tax charge of AED 84.7 million. These results demonstrate the bank’s continued ......read more

Solar PV panels will be added to more than 100 service stations across Abu Dhabi, intended to avoid more than 13,000 tonnes of CO₂ emissions annually. Milestone marks the second phase of service station solarization program following the successful installation of solar PV panels at 28 service stations in Dubai. Initiative supports ADNOC Distribution’s sustainability goals, in line with its aim to reduce operational carbon intensity by 25% by 2030 Abu Dhabi, UAE – January 21, 2025: ADNOC Distribution (ISIN: AEA006101017) (Symbol: ADNOCDIST), the UAE’s largest mobility and convenience retailer, announced today the launch of the second phase of its service station solarization program in collaboration with Emerge, a joint venture between Masdar and the EDF Group. Under the program, Emerge will ......read more

Abu Dhabi, 15 January 2025 Al Hilal Bank, a subsidiary of ADCB Group, has appointed Jamal Al Awadhi as its new Chief Executive Officer to spearhead the Bank’s ambitious growth trajectory and reinforce its position as the UAE’s premier Shariah compliant digital bank. Al Awadhi, a seasoned industry leader and UAE national, brings over 20 years of senior leadership experience across diverse sectors, including financial services, media, information technology, and aviation. Before joining Al Hilal Bank as Deputy CEO in May 2024, he had served as Chief Operating Officer at Wio Bank and Chief Executive Officer at Abu Dhabi Media. Ala'a Eraiqat, Chairman of Al Hilal Bank and Group CEO of ADCB, commented: “I am delighted to welcome Jamal to his new role as CEO of Al Hilal Bank at a time when the Bank is taking bold ......read more

Emrill Energy, a leading provider of energy management solutions in the UAE, has signed a landmark Memorandum of Understanding (MoU) with the Institute of Real Estate Management (IREM), a globally recognised association dedicated to advancing the real estate management profession, based in Chicago, USA. The MoU was signed by Stuart Harrison, CEO of Emrill, and Dawn Carpenter, CPM, 2025 President of IREM. The MOU was further endorsed by IREM’s 2025 President-Elect, Mindy Gronbeck, CPM.  The MoU underscores Emrill Energy and IREM's shared commitment to promoting best practices in energy efficiency and sustainability through education, collaboration, and innovative solutions. The collaboration will enable real estate professionals to access cutting-edge training programmes, workshops, and resources designed to drive ......read more

Dubai, U.A.E., 02 January 2025 – Dubai Aerospace Enterprise (DAE) Ltd (“DAE”), the global aviation services company, today reported its business transactions update for the full year 2024. DAE Capital: Acquired 83 aircraft (owned: 30; managed: 53) Sold 68 aircraft (owned: 19; managed: 49) Signed 233 lease agreements, extensions and amendments (owned: 190; managed: 43) ·                     Placed on long-term lease 17 Boeing 737 MAX aircraft to Turkish Airlines, Eastar Jet, and Hainan ......read more

UAE, 2nd January 2024 : Reiterating its commitment towards making Ayurveda a reliable choice for health and well-being across nations; Dabur International, with its 138 years of rich legacy, joined forces with EAGAFEST 2024. Held at Crown Plaza, Deira the Emirates Ayurvedic Graduates Association (EAGA) celebrated and honoured the ancient science of holistic health and balanced living. As pioneers in revolutionizing Ayurvedic products across an array of essentials like personal care, oral care, hair care, and health supplements; Dabur International plays a pivotal in upholding the principles of Ayurveda. Ayurveda is perceived as one of the most ancient well-documented systems of medicine equally relevant in modern times. Its holistic approach and unique healing processes honor it with an indomitable position as the ‘Science of ......read more

The initiative helps cut customs processing times by more than 50%, streamlining operations and accelerating supply chain efficiency By enabling goods inspection directly at Aramex warehouses, the initiative reduces the need for traditional inspection points at customs centres and associated delays of off-site inspections Dubai, United Arab Emirates; 30 December 2024: Aramex, the leading global provider of comprehensive logistics and transportation solutions, has announced significant operational improvements following the implementation of the innovative Seamless Inspections initiative by Dubai’s Ports, Customs, and Free Zone Corporation (PCFC). The program, which stations customs officers directly at Aramex warehouses, has reduced shipment processing times by more than 50% and achieved time savings of approximately five ......read more

Masdar has acquired Saeta Yield and partnered with Endesa S.A. in Spain UAE's clean energy leader has acquired Saeta, an established renewables platform with an operating portfolio of 745MW of predominantly wind assets, and a 1.6GW development pipeline in Spain and Portugal, for an enterprise value of €1.2 billion Masdar is also partnering with Endesa in Spain in a portfolio of over 2GW of solar assets and aims to add 0.5GW of battery storage, acquiring 49.99% for an enterprise value of €817 million for this stake Landmark deals expand Masdar's portfolio in Iberian Peninsula and Europe, as company targets global capacity of 100GW by 2030 Partnership with Endesa S.A. includes regulated renewable assets and long-term power purchase agreements under which Endesa S.A. through a subsidiary, will acquire 100 ......read more

Phase One of the solar project has been successfully completed and has a production capacity of 569 kWp. Grandweld aims to achieve its ambitious goal of becoming a 100 % green shipyard by the end of next year by meeting 100 % of its energy needs through renewable sources (Solar Energy). Phase Two to generate a total power capacity of 1.3 Mega Watts by next year UAE, December 17, 2024: Grandweld Shipyards, a leading fully integrated shipyard within the maritime and offshore industries, has become the first shipbuilding company in the Middle East to harness solar energy on a large scale to meet its energy requirements. The company currently generates 50 % of its energy needs through renewable sources following the successful completion of Phase One of its ambitious solar panel project, underscoring its commitment to the Dubai ......read more

These Top Industry Trends Provide the Differentiation Needed for Enterprises to Gain the Optimal Benefits from Their I&O Operations in 2025 DUBAI, UAE, December 17, 2024 — Gartner, Inc. highlighted the six trends that will have a significant impact on infrastructure and operations (I&O) for 2025 (see Figure 1). "These trends give the opportunity for I&O leaders to identify future skills requirements and seek insights to help meet implementation requirements," said Jeffrey Hewitt, Vice President Analyst at Gartner. "They will provide the differentiation needed for enterprises to gain the optimal benefits from their I&O operations in 2025." Trend No. 1: Revirtualization/devirtualization The recent license changes for certain vendor-based solutions have forced many I&O teams to ......read more

The Banker Magazine, owned by the Financial Times and based in London, named Arab Bank as Bank of the Year in the Middle East for 2024, for the second consecutive year. The announcement came during The Banker's "Bank of The Year Awards 2024" ceremony held recently in London and attended by several senior representatives from leading banks from all over the world.    The Banker's judging panel's decision to honor Arab Bank with this highly coveted regional award was based on criteria assessing a number of different indicators, including the Bank's financials, strategy and performance, in addition to other specific indicators, a process that takes over 5 months to conduct.   The Banker Magazine, for more than 90 years, has been the world's longest-running international banking ......read more

VinFast is setting a new standard for sustainable innovation in the electric vehicle (EV) industry. By prioritizing long-term environmental impact over short-term gains, VinFast is actively addressing the challenges of battery disposal and reuse, positioning itself as a leader in the circular economy. As the world transitions to EVs, opportunities to enhance sustainability continue to emerge. While EVs are widely recognized as a solution to global warming, the industry is actively addressing areas for improvement, particularly in the lifecycle management of EV batteries. In this evolving landscape, the Nasdaq-listed VinFast is carving out a distinctive role—not just as a carmaker but as a forward-thinking leader dedicated to advancing sustainability. This dedication to sustainability is evident in VinFast’s partnership ......read more

Dubai, UAE - 27 November 2024 - Globally recognised fintech brand EXANTE has opened a new office in the Dubai International Financial Centre (DIFC). By establishing its presence in Dubai, EXANTE is now offering its brokerage solutions to clients in the United Arab Emirates (UAE), providing them with access to over 50 global financial markets and more than a million instruments in a fully customisable trading platform.This move into the Middle East underscores EXANTE's dedication to expanding its global footprint. With this latest expansion, EXANTE now boasts regulation in five jurisdictions, including the FCA in the United Kingdom, the SFC in Hong Kong, the DFSA in the UAE, CySEC in Cyprus, and the MFSA in Malta. This diverse range of regulatory approvals reflects the company’s dedication to providing a secure and ......read more

Last 100 million applications have come in the past 5 years – despite pandemic- driven travel slow-down of 2020-2022 Trusted partner of 69 governments; working with 25 of them for over 15 years VFS Global, the world’s leading outsourcing and technology service specialist for governments and diplomatic missions worldwide, has crossed the 300 million applications milestone. It is notable that the last 100 million applications have been achieved in the past 5 years despite the pandemic-driven travel slow-down of 2020-2022. In 2023 alone, the company processed 24.1 million applications, 35% more than 2022. (Source: ISR 2023), and between January to May 2024, it has processed approximately 100,000 applications a day. Zubin Karkaria, Founder and Chief Executive Officer, VFS Global Group, said, “We are very ......read more

Al Azra, Sharjah, UAE — 25 November 2024 — Steam Engine Publishing today announced the launch of From Grit to Grace: A Unique Personal Leadership Journey. The new memoir from Dr. Sami Handley, a seasoned leadership expert with over two decades of experience across industries, offers a fresh perspective on leadership, personal growth, and organizational transformation. It invites readers to reflect on their own leadership journey and embrace change.   Drawing from a rich career that spans aviation, finance, environmental management, and beyond, Dr. Sami combines personal anecdotes with actionable strategies, creating a leadership book that is as practical as it is profound. From Grit to Grace is not just another business manual—it’s a call to honor the legacy of the leaders who came before us and to ......read more

New customer connections in four countries: UAE, India, Egypt and Oman Company committed to maintaining 'Investment Grade' credit rating Abu Dhabi, United Arab Emirates—15 November 2024: Tabreed, the UAE's leading international district cooling company, has released its consolidated financial results for the first nine months of 2024. Tabreed has experienced a 6% year-on-year rise in consumption volumes during 9M 2024, helping normalised net profit before tax to also increase by 4% to AED 462 million. During the first nine months period, the company delivered consistent growth, maintained resilient profitability margins and further strengthened its financial position. Group revenue increased to AED 1.85 billion in 9M 2024, driven by growth in consumption and 29,000 Refrigeration Tons (RT) of new connections ......read more

e& completes acquisition of controlling stake in PPF Telecom and 100% acquisition of GlassHouse, expanding its footprint to 38 countries Abu Dhabi, 30th October 2024: e& today announced its Q3 2024 consolidated financial results, reporting consolidated revenue of AED 14.4 billion, growing 10 per cent year-over-year in constant currency, while consolidated revenues for the first nine months of year 2024 recorded AED 42.7 billion, growing 9 per cent YoY, reflecting continued growth across most verticals. e& completed an important milestone by closing the transaction of PPF Telecom that will enhance the group portfolio diversification while it continues to grow its digital services across enterprise solutions, fintech, and media and entertainment sectors. This diversification will allow it to pursue its strategic ambition ......read more

The "Go Green with Taiwan" project announces 16 semifinalists from 11 countries. The selected nations include Kenya, Canada, the UK, Luxembourg, Hungary, Ukraine, India, Vietnam, the Philippines, Singapore, and Malaysia. The initiative, which ran from June 19 to August 31, 2024, received 396 proposals from 45 countries. Vietnam, India, the Philippines, Poland, Thailand, Malaysia, the UK, and Indonesia emerged as the top contributors. Organized by the Taiwan International Trade Administration (TITA) and Taiwan External Trade Development Council (TAITRA), this global project encourages individuals, social institutions, and non-governmental organizations to submit ideas for a better world using Taiwanese green products and solutions. This initiative highlights Taiwan's commitment to global sustainability and showcases ......read more

29 October 2024: NBF is pleased to announce its results today for the nine-month period ended 30 September 2024. Highlights: NBF recorded year-on-year growth of 39.3% to close the nine-month period at a net profit before tax of AED 715 million compared to AED 513.2 million in the corresponding period of 2023. Further, NBF posted a net profit after tax of AED 650.4 million for the nine-month period with a corporate tax charge of AED 64.6 million. On the back of a strong Q3 2024 performance, NBF posted a net profit before tax of AED 230.1 million in the third quarter of 2024, a rise of 27.1% over the corresponding quarter of 2023. These results demonstrate the bank’s continued momentum on selective quality business growth and the ability to initially maintain margins in a falling interest rate ......read more

Increased operational activities drives revenue growth: Net Interest Income (NII) increased by 13% year-on-year, propelled by sizable balance sheet expansion and sustained healthy client margins. This growth underscores our effective asset-liability management and strategic focus on core lending activities. In addition, non-interest income surged by 21% compared to the previous year, now comprising 30% of the total operating income. This significant contribution reflects our success in diversifying revenue streams through enhanced fee-based services and other non- interest-generating activities. ·         Continued Strength in Balance Sheet Expansion: Our solid organic expansion carried through the third quarter, highlighted by a 12% year-to-date growth in lending and a 7% ......read more

The Group has registered robust financial performance with operational profit surging to AED 151.78 million, a significant 69% YoY growth. Gross profit more than doubled from the same period last year, soaring by 221%; while total assets rose by 13% compared to December 2023. Growth momentum continues to be shaped by portfolio expansion and successful execution of strategic objectives.   Abu Dhabi, UAE - 28 October 2024: Emirates Stallions Group (ADX: ESG), the leading conglomerate operating across the Workforce Solutions, Construction and Real Estate sectors, and a subsidiary of International Holding Company (ADX: IHC), today announced a leap in operational profit to AED 151.78 million in the first nine months of 2024, achieving a growth of 69% compared to the same period in 2023. ESG’s robust financial ......read more

Ras Al Khaimah, United Arab Emirates, October 21, 2024 – The National Bank of Ras Al Khaimah (RAKBANK) today reported its financial results for the Sep’24 YTD. Key Financial Highlights – Sep’24 YTD RAKBANK delivers record net profit after tax of AED 1.7B, growth of 25% YoY, driven by growth in loan portfolio across all business segments, improved asset quality and tailwinds from higher net interest income. Operating income for YTD Sep’24 is up 8.1% YoY, supported by a net interest margin of 4.6%, on the back of well diversified asset growth, stable and loyal CASA customer base, augmented by higher non-interest income. Operating Expenses remained flat to last year at AED 1.2B for Sep’24 YTD. Cost to income ratio (CIR) at 33.6% compared to 36.2% for Sep’23 YTD as the result of ......read more

Dubai, UAE, 3 October 2024: An investigation by the Dubai Financial Services Authority (DFSA) has revealed that OCS International Finance Limited (OCS) had breached multiple DFSA Rules, including mismanaging USD 46 million (AED 168,820,000) of client funds, and misleading a bank and the DFSA. As a result, the DFSA has imposed a fine, after a 30% settlement discount, of USD 720,905 (AED 2,645,721) on OCS, and USD 186,003 (AED 682,631) on its CEO, Mr Christian Franz Thurner. Alongside the financial penalties, Mr Thurner has been prohibited from holding any executive or employee position in an Authorised Person, Designated Non-Financial Business or Profession, Reporting Entity, or Domestic Fund. He is also restricted from performing any financial service-related functions in or from the Dubai International Financial Centre (DIFC). A ......read more

October 1st, 2024: Bridgestone, a global leader in tyres and sustainable mobility solutions, partnered with Al Jawaden Group, a prominent player in Iraq’s automotive sector, to transform mobility solutions in the Middle East. The partnership was formalized at a signing event at SO/Uptown Dubai, marking a significant step forward in Bridgestone's expansion plans in the Middle East. Through this partnership, Al Jawaden Group's substantial market share in Iraq will be combined with Bridgestone's state-of-the-art tyre technology and mobility services to maximise benefits. Both entities reiterated their commitment to transforming the automotive landscape through innovative and sustainable offerings that improve efficiency and reliability. More importantly, the partnership is perfectly aligned with Bridgestone's E8 ......read more

24 September 2024 – Abu Dhabi, United Arab Emirates: Global Aerospace Summit, a premier forum spearheaded by CEO’s bringing together the world's aerospace supply chain, is set to drive greater sustainability, youth engagement, and innovation across the industry. The Summit, taking place from 25 to 26 September in the UAE capital, has grown in stature and significance to become the premier platform for high-level dialogue and strategic insights for the industry. This long-standing event, currently in its seventh edition, continues to bring together the brightest minds and cutting-edge solutions in the aerospace, space and defence sectors consistently attracting government officials, industry CEOs, and leading academics dedicated to advancing the sectors around the world. Sponsors and participants at ......read more

Dubai, UAE – Avyanco, a leading business set-up and tax consultancy firm in the UAE, continues to solidify its presence as a trusted partner for entrepreneurs and businesses navigating the region’s competitive market. Under the leadership of Mr. Jashvantkumar Prajapati, who brings over 20 years of industry expertise, Avyanco has successfully assisted over 10,000 clients with tailored business and financial solutions. Known for its client-centric approach, Avyanco stands out in the UAE’s dynamic landscape by delivering customized strategic guidance that helps businesses overcome the complexities of regulations, taxation, and compliance. Mr. Jashvantkumar Prajapati emphasizes the importance of education in fostering success in today’s fast-paced business environment. “Our primary focus is on educating ......read more

Based in the UAE, the Toastmasters District 127 runs 155 clubs across Dubai, the Northern Emirates, and Lebanon. Dubai-based entrepreneur, academician and veteran Toastmaster Sujit Sukumaran has been elected to global board of the Toastmasters International. DUBAI – September 18, 2024: Toastmasters International, the world’s largest non-for-profit organization for public speaking and leadership development, has recently announced that its UAE-based District 127, which represents Dubai, the Northern Emirates, and Lebanon, as the No. 1 district globally. The announcement has been made during Toastmasters International’s 100th-anniversary convention, recently held in California.  Adding to the district's accolades, Dubai-based entrepreneur and academician Toastmaster DTM Sujit Sukumaran has been ......read more

Dubai, UAE (September 17, 2024): Grandiose Supermarkets, a leading retailer of premium food and groceries, has long been a one-stop shop for all pet essentials. In celebration of International Dog Day, they launched a major on-ground campaign to showcase their extensive pet product range. From gourmet food and delectable treats to innovative toys and accessories, Grandiose offers everything to pamper your furry companions. As part of this exciting campaign, Grandiose proudly presents "ONLY A DOGGIE NOSE." A series of out-of-home posters with an unusual creative twist. The posters were coated with the aroma of most-loved doggie delights. It made the posters unmissable for doggies, leading dog owners to discover an embedded QR code on the posters that lead them to our Grandiose App for special discounts on doggie ......read more

Abu Dhabi, U.A.E. - September 16, 2024: Hitachi Energy presents its solutions for a sustainable, flexible and secure energy system at the World Utilities Congress (WUC) 2024 to be held at the Abu Dhabi National Exhibition Centre (ADNEC) from September 16-18. The event gathers energy leaders, policymakers, innovators, and professionals from the power and water utilities value chain to discuss and address the trends and challenges shaping the industry. At the event, Hitachi Energy showcases its industry-leading technologies and innovations on enhancing power system flexibility, advancing digitalization, and accelerating the global energy transition. Power system flexibility is critical for integrating renewable energy sources like solar and wind, ensuring grid stability, and reducing carbon emissions. As the energy landscape evolves, ......read more

Monday, September 16, 2024 – Dubai, UAE: Al Fujairah National Insurance Co. (AFNIC) announces the launch of “FloodGuard,” the region’s first insurance product exclusively covering accidental loss or damage from Flood, Inundation, Storm, and Tempest for third-party insured motorists. FloodGuard offers crucial coverage for personal or company-owned vehicles used exclusively for personal or leisure purposes, especially those over 7 years old that often do not qualify for comprehensive insurance. “In response to the recent heavy rains in the UAE, AFNIC’s innovative solution provides much-needed relief to private car owners. We are proud to spearhead this groundbreaking insurance product in the UAE,” says AFNIC CEO Antoine Maalouli. “Our commitment is to address our clients’ ......read more