03/13/2023
Abu Dhabi-based IHC’s 2022 profit surges to a record $8.9bn
The conglomerate’s revenues surged by 78 per cent to Dhs50.9bn, driven by growth across all verticals and the company’s strategic acquisitions in 2022
Alternative Investments
03/10/2023
Dubai records over $408mln in realty transactions on Thursday
The sales included 461 villas and apartments
03/10/2023
Investments in Saudi Arabia’s digital infrastructure hit $25bn in 6 years
It noted that Saudi Arabia’s improved digital infrastructure has helped provide a better quality of services to customers, as mobile internet speed in the Kingdom has now exceeded 181 megabits per second, twice the global average.
03/09/2023
Lebanon banks 'have no liquidity,' says banking association's secretary general
The letter was signed by the Association of the Banks of Lebanon (ABL)'s Fadi Khalaf and served as the introduction to the ABL's monthly report
03/08/2023
UAE’s Mubadala, Stone Point to acquire 20% in US broker Truist Insurance for $1.95bln
Transaction expected to close in second quarter of 2023
03/08/2023
UAE private sector can rise to challenge of more jobs for Emiratis
Organisations must roadmap a clear hiring strategy to meet and exceed government targets
03/07/2023
Saudi Arabia pumps $5bn into Turkish economy
The deposit will provide a major boost to the Turkish economy – struggling in the wake of February’s devastating earthquakes and rising inflation
03/07/2023
Allianz Egypt renews official insurance sponsorship of "Butterfly queen” Farida Osman for next two years
Dubbed “Egypt’s Butterfly Queen,” the sponsorship of Osman includes facilitating the required support in her pursuit towards the Paris 2024 Olympics in France
03/07/2023
Egypt’s foreign reserves surge to over $34bn in February
We currently have 11 companies that we will offer to strategic investors, a public offering, or both,” Soliman disclosed to CNBC Arabia.
03/06/2023
UAE, Italy sign agreements, aim to strengthen partnership
The UAE and Italy signed an MoU to aid cooperation in the field of emissions reduction, new energy technologies, and low-carbon solutions
03/06/2023
Abu Dhabi’s Presight AI announces intention to launch IPO, list on ADX
The UAE Securities and Commodities Authority approved the company’s application for the IPO on March 3
03/06/2023
UAE’s Alpha Dhabi sees net profit rise by 104% to Dhs10.6bn
The holding company’s revenue witnessed significant growth, reaching Dhs40bn, which represents an increase of 114 per cent year-on-year
03/03/2023
Dubai is world’s fourth most active luxury real estate market
Sales of Dubai’s $10mln homes hit $3.8bln in 2022
03/03/2023
Central banks added 31 tonnes to global gold reserves in January 2023
More buying expected this year as central banks remain positive towards gold – World Gold Council
03/03/2023
Business activities in UAE’s non-oil sector pick up pace in February - PMI
The firms surveyed signalled a stronger degree of confidence for the next 12 months
03/03/2023
Saudi, Egypt, Turkey are our top markets for energy business – Enova CEO
Companies now invest in energy efficiency projects not only to save on costs but also achieve broader sustainability goals and showcase their achievements, according to CEO Renaud Capris
03/02/2023
Allianz Life Assurance in Egypt becomes exclusive partner of HPA
This way Allianz becomes the exclusive insurance partner of HPA, offering exceptional services to the association members, whether individuals or companies, as well as sharing and exchanging managerial expertise with them
03/01/2023
UAE's National Bonds to allow customers loans from banks against their savings
National Bonds to get banks help customers with short-term loans at lower rates
03/01/2023
SABIC’s revenue rises by 13% to $53bn in 2022
The company’s earnings before interest, taxes, depreciation and amortization for 2022 stood at SR38.57 billion, a 20 percent fall compared to 2021.
02/28/2023
Saudi SABIC posts 28% drop in 2022 net profit, warns of margin pressure in H1
Revenue up 13%, driven by growth projects and Aramco synergy