- This comes as part of the Group’s efforts to adopt long-term innovation to achieve continuity and efficiency in operations Abu Dhabi, UAE, 22nd of March 2023: ADNEC Group has been awarded with the BSI Kitemark Innovation Management Certification, which is a prestigious global certification offered by the British Standards Institution (BSI) to organisations that embrace innovation to drive continued growth in their operations and investments. The certificate was received in the presence of Humaid Matar Al Dhaheri, Managing Director and CEO of ADNEC Group, as he welcomed a number of officials from the BSI at the Abu Dhabi National Exhibition Centre. ADNEC Group is the first entity in the Exhibition Management sector worldwide to receive this prestigious certification, which is based on the international standard for ......read more

Jeddah:  In Saudi Arabia, Bayzat’s integrated HR platform is revolutionizing the work-life experience for organizations, bringing efficiency to business operations and transformative benefits for employees.   Through a single platform, HR, Payroll & Employee Benefits platform companies can invest in the well-being and health of their employees and create a world-class employee experience that enhances their productivity and loyalty.   Talal Bayaa, the CEO and Co-Founder of Bayzat, said: “Bayzat is an all-in-one HR, payroll, insurance and employee benefits platform that will benefit employers and employees across Saudi Arabia. We are redefining the way work works for the better, making a world class employee experience a possibility for all businesses.”   The application facilitates ......read more

Abu Dhabi, UAE, March 20, 2023: Infinite Brain Technologies (IBT) and Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) have this week entered a five-year research and development agreement. The two industry thought leaders will form a joint research lab in order to develop precise, personalized Digital Therapeutics (DTx) for human brain health by optimizing the power of artificial intelligence technologies. The collaboration looks to capitalize on IBT capacity in the development and commercialization of digital therapeutics alongside MBZUAI expertise in artificial intelligence, with the ultimate goal of realizing powerful, personalized brain and mental disorder treatments. "The marriage between brain science and AI technology will lead to critical breakthroughs in brain health. The collaboration between IBT and ......read more

SCFHS accreditation now applies to all residency postgraduate training programs offered by MBRU March 20, 2023: Mohammed Bin Rashid University of Medicine and Health Sciences (MBRU) has been granted full institutional accreditation by the Saudi Commission for Health Specialties (SCFHS) for four more years.  The renewed SCFHS accreditation now extends to all postgraduate residency and fellowship programs provided by the Deanship of Postgraduate Medical Education at MBRU. The training for the accredited programs will take place at Dubai Academic Health Corporation (DAHC) healthcare facilities, including Rashid Hospital, Dubai Hospital, Latifa Women & Children’s Hospital, Al Jalila Children’s Specialty Hospital, Hatta Hospital, Dubai Dental Hospital, and other primary care and specialized health centers. ......read more

The product line-up was revealed during the flagship LG Showcase MEA 2023 event    DUBAI, March 20, 2023 – LG recently welcomed its executives, guests and partners for the opening of the LG Showcase MEA 2023. The grand event acted as a platform for LG to showcase its latest innovations and solutions, while also providing visitors with the chance for a hands-on experience with each product. During the course of the event, held in Habtoor City Dubai, over 400 guests got an exclusive look at the latest technological innovations that will be making its way into the MEA region. The showcase event also featured a dedicated area to exhibit their latest products and solutions that highlight the brand’s approach of creating customer-centered innovations for a better life.  A key focus area during the exhibition ......read more

Doha, Qatar – 20, March 2023 – Dukhan Bank announced the names of the most recent round of draw winners for Thara’a, its Shariah compliant savings account, at the Bank’s headquarters.  As the draw results showed, the bank clients Safiya Al-Zeyara and Leena Kordia each won a cash prize of 10,000 Qatari Riyals. Also, a cash prize worth 5,000 Qatari Riyals was awarded to Wasmiya Al-Haslan, Mohammad Shamimuddin, Irfan Ali, Mahmoud Elzamli, Azeema Khan, Abdalla Hammo, Safeya Askar, Shafiq Azam, Aysha Ahmedi, Firas Alkahtib, Sajid Atique, Mohammed Abduzzahar, Mahmoud Al-Mahmoud, Ali Chaear, Waleed Alsayadi, Ayham Alrebdawi, Noora Al-Sulaiti, Muhammad Muhammad, Eleen Elbatneagy, Amal Al-Haddad, Jabir Pilarath, Meshaal Al Abdulla, Aisha Al-Motawa, Kiran Patnayakuni, Khalid Al-Ansari, Mohamed  Zouroup, ......read more

As part of its ongoing efforts towards raising the bar of community welfare and enhancing the cultural experience in Kuwait Kuwait, 20 March 2023:  Burgan Bank is continuing its sponsorship of Dar Al-Athar Al-Islamiyyah’s (DAI) 27th cultural season; an effort that stems from the Bank’s committed social responsibility program and its special focus on the development of Kuwait’s culture scene. The sponsorship of DAI’s 2022/2023 season marks a major milestone for Burgan’s 2023 social calendar - and builds upon the Bank’s broad range of strategic social partnerships. The latest edition of the DAI cultural season includes an array of diverse cultural and musical events and activities. Amongst the many notable events: an evening with the esteemed pianist and composer Evgeny Khmara, in partnership ......read more

Doha, 20th March 2023 - QIC Group, the leading insurer in Qatar and the MENA region, held yesterday, Sunday, 19th March, the General and Extraordinary General Assembly Meetings at its headquarters in Al-Dafna.  The meetings were chaired by Sheikh Hamad bin Faisal bin Thani Al Thani – Member of the Board of Directors – and were attended by members of the executive management, shareholders, and representatives of regulatory authorities. The meeting discussed the Board of Directors' report on the company's activities and financial position during the year ended 31/12/2022 and the company's future plans. Additionally, the meeting approved the auditors' report on the company's financial statements; the company's balance sheet and profit and loss account for the year 2022; and the ......read more

Lucky numbers were 4, 15, 26, 27 and 38 Draw sees 1,420 winners take home AED 1,548,000 New millionaire bagged the raffle draw prize of AED 1,000,000 as part of Mahzooz’s new prize structure   19 March 2023, Dubai, UAE: In its 120th weekly draw, Mahzooz, the UAE's favourite weekly draw with the biggest and most frequent pay-outs, crowned the second GUARANTEED winner of AED 1,000,000, as part of its newly launched prizes and saw 1,420 participants take home AED 1,548,000   While the new top prize of AED 20,000,000 went unclaimed this week, 27 participants matched four out of the following five numbers 4, 15, 26, 27, 38, and shared the second prize of AED 200,000, earning AED 7,407 each. 1,392 other winners matched three out of five numbers and received AED 250 each.    As part of ......read more

Doha, Qatar - Alford Hughes owners, Mohammed Akbar Al Baker and Hussain Akbar Al Baker, recently hosted a grand event in partnership with Sanjay Hinduja of the Hinduja Group to introduce The OWO Residences by Raffles in London. The event was held at Raffles Doha, and was attended by distinguished guests, including H.E. Akbar Al Baker and H.E. Jonathan Wilks, British Ambassador to Qatar.  Hussain Akbar Al Baker, co-owner of Alford Hughes noted "Hosting our event at Raffles Doha in partnership with Sanjay Hinduja and The Hinduja Group was a wonderful opportunity to showcase this one-of-a-kind project to our network in Qatar."  Built in 1902, the OWO is set in a magnificent Edwardian Baroque structure formerly known as the Old War Office. This historic building survived both World Wars and was once where British ......read more

Dubai, March 16, 2023:  Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE and the second-largest Islamic bank in the world, concluded its Annual General Assembly (AGM) with the approval of the bank’s 2022 financial statements and other tabled resolutions, demonstrating the confidence of the shareholders in the bank's Board and management's strategic agenda for the coming years. The strong financial results reported this year are a further testament to DIB’s role as a leader in the development of Islamic Finance in a year of exceptional global uncertainty. Supported by a solid growth in the total income, the bank’s net profit reached the highest ever in the bank’s history with a 26% surge in 2022, and a balance sheet of AED 288 billion, culminating in a five-year CAGR of 7%. This ......read more

- Saudi’s SMEs authority Monsha’at and Zoho to accelerate digital transformation and e-commerce adoption in the SMEs sector  - Under this agreement, the SMEs enrolled in Monsha'at’s Mazaya Programme can gain access to Zoho's 55+ cloud-based business solutions with a wallet credit worth USD 2500. - Monsha’at will facilitate online and offline digital training of Zoho’s products through the Monsha’at Academy and Thakaa Center.   Dubai – March 16, 2023 - In line with the national digitalisation agenda under the Saudi Vision 2030, the Small and Medium Enterprises General Authority (Monsha’at) and Zoho Corp., a leading global technology company, announced the signing of a Memorandum of Understanding (MoU) that aims at supporting 30,000 small and medium enterprises ......read more

• A new press office has been set up for Sanad as it drives its strategy to become a global industrial services champion for Abu Dhabi and Mubadala Investment Company.   • Sanad Group is wholly owned by Mubadala Investment Company and has over 35 years of experience in providing maintenance, repair, and overhaul (MRO) services for commercial aircraft engines in addition to providing linked financing solutions. Sanad services engine models including the Rolls-Royce Trent 700, IAE V2500, and next generation engines such as the GEnx among others.   • Headquartered in Abu Dhabi with offices in Zurich, Sanad provides flexible, innovative and tailored solutions to a growing global customer base, which includes airlines such as Etihad Airways, American Airlines, Emirates Airlines, Saudia Airlines, Wizz Air, ......read more

Kuwait, 15 March 2023 - Kuwait International Bank (KIB) has received the international ISO 27001:2013 certificate for information security management systems for the 9th year consecutively. This important achievement is a testament to KIB’s unwavering commitment to the highest international standards that govern the level of efficiency of the security systems implemented by the Bank across all its services and sectors, in a way that guarantees the safety and security of customer data, in addition to being clear evidence of the Bank’s adoption of the latest technologies in this field. Speaking on this occasion, Basil Al-Suwaidan, General Manager of the Information Security, Privacy and Anti-Fraud Department at KIB, said: “At KIB, we are proud to continue our compliance for the 9th year  as the renewal of this ......read more

Reinforcing inclusivity and guaranteeing a streamlined banking experience for all customers   Kuwait, 16 March 2023:  Burgan Bank announced the launch of a new biodegradable debit card especially designed to facilitate transactions for its visually impaired customers as it continues to innovate its solutions to provide a streamlined, elevated, and inclusive banking experience to all. The card delivers on Burgan’s core objectives of its comprehensive strategy – namely sustainability, product innovation and inclusivity, ensuring greater accessibility to specially-abled customers, whilst simultaneously promoting environmentally conscious practices. The card utilizes a touch card feature with a rounded notch on the right side of the card to make it easy-to-use for visually impaired customers, helping them ......read more

Following the recent appointment of Ahmed Abdulwahed and Modern Electronics as partners, Panasonic steps up further to optimally serve the growing market in the Kingdom as it also forms alliances with Modern Enterprises Expert Trading, Saudi Emirates Fraternity and Al Babtain Trading   Riyadh, Kingdom of Saudi Arabia:  Panasonic Marketing Middle East & Africa (PMMAF) announced today that it is expanding its distribution line-up in Saudi Arabia as it looks to revive its footprint in the Kingdom and establish the right level of resources to meet the growing demand for its industry-leading products and solutions.   Just recently, Panasonic also revealed that it has formed business alliance with Ahmed Abdulwahed Trading Co (AAW) as its new distributor for small domestic appliances in Saudi Arabia, and Modern ......read more

• Enables On-Premises Solutions for Companies and Governments to maintain data privacy • Falcon LLM advances UAE’s sovereign capabilities in AI with proprietary LLM   Abu Dhabi-UAE: 15th March 2023 – The Technology Innovation Institute (TII), a leading global scientific research center and the applied research pillar of Abu Dhabi’s Advanced Technology Research Council (ATRC), has upped its generative AI credentials with the launch of “Falcon LLM,” a foundational large language model (LLM) with 40 billion parameters. AI and Digital Science Research Center’s (AIDRC) AI Cross-Center Unit, the team behind building Noor the world’s largest Arabic language model, builds Falcon LLM, the 40B model which outperforms GPT3. Falcon LLM 40B model is trained on one trillion tokens. The ......read more

It is an institution. It is the voice of business. 15 years and growing strong. Dubai, UAE, 7 March 2023:  Capital Club Dubai will be celebrating its 15th anniversary on 17 March 2023 as the region's sole private business club. This remarkable milestone is a testament to the club's commitment to providing its members with exceptional services, experiences, and networking opportunities over the years. Supported by prestigious names such as Rocco Forte Hotels, Citi, and IRAM Jewelry, the 15th-anniversary celebration symbolizes the Club's unwavering dedication to its members. In its first year, the Club had 200 members and a handful of employees. Today, with more than 1,200 members and 100 employees, the Club has demonstrated a significant expansion. The journey has been accompanied by some major changes since the ......read more

NBF will participate in FUJCON 2023 in Fujairah, including key session on first day Dubai – 15 March 2023 — National Bank of Fujairah (NBF) announces its participation in this year’s Fujairah Bunkering & Fuel Oil Forum (FUJCON 2023), which runs from 13th – 15th March. The event will be a chance for stakeholders in the downstream oil and marine industries to explore the theme of ‘the Maritime Energy Transition and Future Fuels’, with NBF’s participation reflecting its longstanding experience and deep expertise in both sectors. Organised by global industry analysts S&P Global, the thirteenth edition of the forum will be held under the patronage of His Highness Sheikh Hamad bin Mohammed Al Sharqi, member of the UAE Supreme Council and Ruler of Fujairah.  Speaking on the ......read more

Jeddah, Saudi Arabia, 14 March 2023: SEDCO Capital, a global Shariah-compliant and ESG-led asset management and investment advisory firm (or “the Firm”) has successfully exited its SEDCO Capital Built-to-Suit Real Estate Fund I (or “the Fund”), delivering a 41% net return on invested capital.  The Fund commenced operations in mid-2018, acquiring two education- zoned plots – in Jeddah’s Al-Shati District – to develop two educational campuses (on a Built-To-Suit basis) for girls and boys (“the Properties”) to be operated by Al-Yusr International School Company (“the Tenant”).  Following growing market interest in acquiring the Properties, the Fund’s Board approved their divestment in line with the Fund’s exit strategy. SEDCO Capital will ......read more

To raise awareness among its employees and ensure their safety Kuwait, 15 March 2023:  Burgan Bank recently conducted an emergency evacuation drill for its employees at its head office. The drill came within the framework of the Bank’s willingness to train and educate employees on the proper steps of the evacuation process, to ensure their safety and security in emergency situations. The evacuation, which was supervised by a team from the Kuwait Fire Force, helped evaluate employee response time, as well as understand potential gaps and areas for improvement. The staff underwent comprehensive training on how to manage disasters or accidents. Part of the exercise also involved the simulation of a fire in the building and a situation wherein few individuals were trapped and injured on one of the floors. Following the ......read more

Kuwait,  March 2023: Al Ahli Bank of Kuwait (ABK) announced Abdulaziz Ahmad Al Khubaizi as the winner of KD10,000 in the Alfouz weekly draw. The winner was announced on Monday, 13 March 2023. The draw was held under the supervision of the Ministry of Commerce and Industry.  The Alfouz draw account offers ABK customers the chance to win life-changing rewards. With Alfouz, ABK customers will get a chance to win KD10,000 in the weekly draw and the ultimate grand prize of KD5,000 monthly additional income for 10 years. Both new and existing ABK customers can benefit from this opportunity, with a minimum account balance of KD100 only. ABK encourages everyone to open Alfouz draw account and/or increase their balances to have more chances in winning in the upcoming draw which will happen on Monday, 20 March 2023. The higher the ......read more

Aiming at offering its customers the latest digital banking solutions   Kuwait, 14 March 2023: Kuwait International Bank (KIB) announced it will now be offering its KIBPay service to its corporate clients as part of the Bank’s strategy to provide its customers with access to digital banking services - that meet their needs in a safer and easier manner.  KIB’s corporate clients can now benefit from KIBPay to collect funds from their partners following easy and simple steps. With this new process, customers can now receive the money within minutes, either through the smartphone application or by sharing the payment link via email, WhatsApp, or other applications that support the service. Commenting on the occasion, Mr. Hesham Al-Mubaraki, General Manager of Wholesale Banking at KIB, said: “We are ......read more

Kicks off on March 22 Sharjah, 14 March 2023:  The Sharjah Chamber of Commerce and Industry (SCCI) called on all shopping centres, shops and central markets to register for the 33rd Sharjah Ramadan Festival (SRF) 2023, which runs from March 22 until April 25 in various cities and regions of the Emirate of Sharjah. The event's Organising Committee revealed that the SRF succeeded, over three decades, to establish itself in a leading position among similar events, being a key annual promotional and marketing event dedicated to celebrate the holy month of Ramadan and Eid Al Fitr. The OC called upon all businesses in the emirate to seize the great opportunities of the festival's advantages and facilities. Ibrahim Rashid Al Jarwan, Director of the SCCI's Economic Relations Department and the festival's general ......read more

This Hiwar (Arabic for dialogue), is part of a series of events and activities that the Abu Dhabi Sustainability Group (ADSG) hosts to accelerate knowledge mobilisation among its members and stakeholders, empowering various sectors in the Emirate to engage and support the delivery of the UAE Government’s agenda to tackle biodiversity loss and achieve Net Zero by 2050.   Abu Dhabi, 13 March 2023 – The Abu Dhabi Sustainability Group (ADSG), with the support of the Environment Agency – Abu Dhabi (EAD) and in collaboration with Abu Dhabi Sustainability Week (ADSW), the global platform for accelerating sustainable development hosted by Masdar, held a digital knowledge sharing session on the ‘Path Towards a Nature-Positive Future.’  The session was held on 2nd March, 2023 in Abu Dhabi to ......read more

London, UK – March 13, 2023 – One of the leading identity verification service providers across the globe, Shufti Pro, has a talented team working in Dubai, led by Ahmad Jamal (the Head of MENA Sales), that has been helping companies prevent fraudulent attacks and meet KYC & AML regulations.   Shufti Pro has opened six international offices in the USA, UK, Sweden, Hong Kong and Cyprus in just a short span of five years. Any local company or representative can visit the Dubai office at this location. Shufti Pro aims to expand more and help new & existing businesses by helping them strengthen their identity verification processes & making them avoid compliance failures.   Shufti Pro’s team working in Dubai has the potential to set benchmarks by helping a plethora of firms enhance their ......read more

Kuwait, 11 March 2023: In a continuation of its strategy of developing future generations and expanding their expertise, Kuwait International Bank (KIB) delivered an academic lecture at the College of Architecture at Kuwait University. The seminar, presented by a team from the Real Estate Department,  came in response to the College’s invitation to discuss the foundations of investment and real estate evaluation, and took place at the University’s headquarters in Adailiya in the presence of several members of its teaching board and a large group of students.  Speaking at the seminar, Eng. Fahed Al Saleh, Manager of the Real Estate Advisory Division at the Bank’s Real Estate Department, and Eng. Basil Salem, Senior Real Estate Resident Engineer in the Bank’s Real Estate Appraisal Department, relayed ......read more

New eXtended Detection and Response Solution is 450X more efficient than typical SOCs at converting telemetry and logs into actionable alerts   Dubai, United Arab Emirates – Forescout Technologies Inc., the global leader in automated cybersecurity, today unveiled Forescout XDR, to help enterprises better detect, investigate, and respond to the broadest range of advanced threats, across the extended enterprise.   A typical SOC is flooded with 450 alerts per hour1, and analysts waste precious time trying to correlate low fidelity alerts and chasing false positives, often at the expense of focusing on legitimate attacks. Until now, a security operations center’s (SOC) field of view for threat detection and response has excluded critical devices that are increasingly common points of attack, including operational ......read more

Abu Dhabi, March8, 2023 - Gulf Capital, one of the largest and most active Private Equity firms investing from the GCC to South and Southeast Asia, has today announced that it has been awarded a Financial Services Permit (FSP) from the Financial Services Regulatory Authority (“FSRA”) of the Abu Dhabi Global Market (“ADGM”). The newly granted licence will enable Gulf Capital to manage assets and funds as well as to perform other regulated asset management activities in or from the Abu Dhabi Global Market. Launched in Abu Dhabi in 2006, Gulf Capital has now offices in Abu Dhabi, Dubai, Riyadh, Cairo, and Singapore, with its newly inaugurated global headquarters based in ADGM. The company, which was launched in Abu Dhabi in 2006, has a solid and long track record of investing private capital to build global ......read more

• Cicero & Bernay Communication Consultancy and 3Gem Research & Insights launch the third edition of the annual regional corporate social responsibility survey report. • Members from other countries nominated the UAE as the most active in CSR.   Dubai, UAE, 9 March 2023: Cicero & Bernay Communication Consultancy (C&B), a leading MENA agency headquartered in Dubai, in partnership with 3Gem Research and Insights, a global research partner, is proud to announce the third edition of its annual MENA CSR Report 2022.  In recent years, countries in the Middle East have started to take significant steps towards fostering a culture of social responsibility, with the UAE and KSA leading the way in promoting sustainable and socially responsible practices. The 2022 report also highlights a positive change ......read more

Kuwait, 9 March 2023: Al Ahli Bank of Kuwait (ABK) announced Marites Saipuddin Corpuz as the winner of KD10,000 in the Alfouz weekly draw. The winner was announced on Monday, 6 March 2023. The draw was held under the supervision of the Ministry of Commerce and Industry.  The Alfouz draw account offers ABK customers the chance to win life-changing rewards. With Alfouz, ABK customers will get a chance to win KD10,000 in the weekly draw and the ultimate grand prize of KD5,000 monthly additional income for 10 years. Both new and existing ABK customers can benefit from this opportunity, with a minimum account balance of KD100 only. ABK encourages everyone to open Alfouz draw account and/or increase their balances to have more chances in winning in the upcoming draw which will happen on Monday, 13 March 2023. The higher the deposits ......read more

Doha, 09th March 2023 - Qatar Insurance Group (QIC), the leading insurer in Qatar and the MENA Region was honored for its role as an official sponsor of the fifth edition of the Samla race during the 2023 Samla awards ceremony that was held last Tuesday honoring the champions, sponsors and the entities that contributed to the success of annual national endurance competition. The sponsorship comes as part of the Group's corporate social responsibility and its keenness to support the national sports agenda. Accepting the award on behalf of QIC was Mr. Rashid Al-Buainain, Group Chief Administrative Officer of QIC, who said on the sponsorship in an interview with Al-Kas sports channel, “For all the success that Qatar Insurance Group has achieved over the years, we have not lost sight of our social responsibility. CSR is a core ......read more

Dubai – March 08, 2023: Corcom Media Ventures, a Dubai-based global sports and entertainment management company has recently signed major deals with top cricketing boards / associations around the world which includes the Board of Control for Cricket in India (BCCI) and the Africa Cricket Association (ACA). These deals are poised to have immense significance in the growth and development of the Cricket in the entire continent of Africa and globally, as well as the increase in tourism in the Middle East/ Saudi Arabia.  Corcom Media Ventures has signed a 10-year multi-million-dollar deal with the ACA to organize, host, produce, distribute, and monetize upcoming cricket tournaments in Africa. The partnership starting in 2023 includes popular tournaments like the Mens Africa Cup T20, Women’s Africa Cup T20 and African ......read more

• Mohammed Ahli: Innovation is our top priority in this digital era; committed to innovation to improve our services to match the global standards  • Employees encouraged to suggest innovative ideas to win valuable prizes   March 08, 2023, Dubai, United Arab Emirates:  A new innovation programme has been launched by Dubai Air Navigation Services (dans) that provides air navigation services and air traffic control for four airports of Dubai and the Northern Emirates. This programme is part of a larger dans Corporate Innovation programme.   The Air Navigation Service Provider is looking for involvement from its staff to submit their creative thoughts and recommendations to enable dans to flourish as a premier Air Navigation Service Provider. The employees are being encouraged to join in the ......read more

Kuwait, 7 March 2023:  Burgan Bank recently sponsored the Small and Medium Enterprises Marketplace event, organized by Ooredoo Kuwait in conjunction with the celebrations of Kuwait's national holidays. This came as part of the Bank’s continuous commitment to its strategy of supporting various businesses, especially small and medium enterprises. Burgan’s sponsorship also comes as part of its commitment to keep pace with and advance the aspirations of Kuwaiti youth and qualify them to be effective and real players in driving the economy of Kuwait, in order to achieve sustainable development. Burgan Bank participated in the Marketplace with a special booth, in which it showcased its innovative and specialized banking business solutions designed for business owners and the commercial sector. Among such services is ......read more

Shaker achieves strong FY22 earnings growth, continues strategic investments in KSA and expansion with LG partnership   Riyadh, Saudi Arabia, 07 March 2023: Al Hassan Ghazi Ibrahim Shaker Co. (“Shaker”, the “Group” or the “Company”), Saudi Arabia’s leading importer, manufacturer, and distributor of Air Conditioners and Home Appliances, announced its financial results for the full year 2022, marking a period of continued transformation and growth across its operations.      Full Year 2022   • Revenue of SAR 1.04 billion, up 3.44% on FY21, driven by strong growth in the HVAC solutions segment. • Gross profit of SAR 237.64 million, up 10.24% on FY21, driven by higher sales and portfolio mix optimization. • Operating income of SAR ......read more

20% stake for $1.95 billion positions Truist Insurance Holdings for long-term success and growth Abu Dhabi, UAE – 7 March 2023 – Mubadala Investment Company, the Abu Dhabi based investment company, announced that it has partnered with primary investor Stone Point Capital, a leading private equity firm focused on the global financial services industry, alongside other co-investors, to purchase a 20% stake for $1.95 billion in Truist Insurance Holdings, Inc., a subsidiary of Truist Financial Corporation (“Truist”; NYSE: TFC).  Based in Charlotte, North Carolina, Truist Insurance Holdings is the sixth-largest insurance broker in the U.S. and operates more than 240 offices through its subsidiaries. The transaction represents an aggregate value of $14.75 billion for Truist Insurance Holdings. Upon closing ......read more

Board proposes dividend of AED 0.40 per share for H2 2022, representing a total dividend of AED 0.80 per share for FY 2022   Abu Dhabi, UAE 6 March 2023: e& today announced its consolidated financial results for fiscal year 2022 reporting an impressive growth in consolidated net profit by a record 7.4 per cent to AED 10.0 billion.   Consolidated revenues reached to AED 52.4 billion, a growth of 4.7 per cent year-over-year, at constant exchange rates, underpinned by the Group’s successful business transformation, expanding to new business verticals and diversifying the revenue streams.    Consolidated EBITDA increased by 3.7 per cent year-over-year at constant exchange rate, to AED 26.2 billion, leading to an EBITDA margin of 50 per cent, highlighting the strong profitability of e&’s ......read more

Indices trading is highly trusted by investors, as it is a powerful tool for understanding future market trends as it reflects changes in the financial market. The index is a tool that can quickly measure the general situation of the market. The meaning represented by its numbers is the financial performance of a specific sector or region, and it can also be used to analyze trends and changes in different markets. It is an important tool for understanding the market in a quick way, for example: the most important and most common indicators in US stocks are the Dow Jones, the Standard & Poor's 500, and the Nasdaq. Each of them has its own components and characteristics, so that each of them becomes a representative for measuring a specific sector of US stocks. For example, the Standard & Poor's 500 is an index for ......read more

Al Dirwaza account is the best of its kind in Kuwait for offering the highest monthly expected returns and cash prize draws   Kuwait, March 6th, 2023: Kuwait International Bank (KIB) announced the names of the winners in the second Al Dirwaza account monthly draw, based on customers’ February deposits. The draw was held in the presence of representatives from the Ministry of Commerce and Industry, as well as representatives from the Bank. In this draw, Mahmoud Mohammad Ameen Awadh won KD 10,000, whilst the KD 1,000 prize was awarded to 10 winners in total: Ghazi Ibrahim Abdelmaguid Elshoubary, Jalal Gholam Kousari, Mashari Bader Yaseen Alfoudari, Mohammad Taha Abdelhamid Hassan Shafei, Sarah Ahmad Khaled Sulaiman, Jaber Falah Ghulom Alam Dar Mohammad, Fatemah Fawzi Hafedh Alsayes, Efekhar Alsayed Yaqoub ALsayed ......read more