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    Featured in Banking and Investments
    Al Saeedi Group Partners with dnata Offering Tyre Solutions at Airports in Dubai

    Over 10,000 dnata assets - fleet of vehicles and equipment - at Dubai International and DWC airports will be covered by Al Saeedi as part of the agreement. Dubai – August 16, 2022:  Al Saeedi Group, a leading specialist in tyre distribution and service solutions in the UAE, has entered a strategic partnership with dnata, the aviation services division of Dubai government-owned Emirates Group. Signing up this multi-million Dirham contract, Al Saeedi Group will provide the complete range of tyre solutions - supply, repair and fitting services – for over 2,300 mortised and 8,300 unmotorised assets operated by dnata at Dubai International Airport (DXB) and Dubai World Central Airport (DWC).    Al Saeedi will also manage the primary tyre store located inside dnata Technical Services (dTS) Workshop at the more

    Plaeto makes its Global Foray with its Entry into the UAE Market

    ● Plaeto, India’s first foot-health focused shoe brand for children launches in UAE. Plaeto partners with Threads, UAE’s premier and largest retailer for school uniforms, shoes and accessories.  ● Plaeto’s black and white school shoes, in three different lacing methods, are available at Threads stores in Dubai, Abu Dhabi, Ras-Al-Khaimah, Sharjah, and Fujairah. The shoes are also available online at   Dubai, 17 August 2022: Plaeto, India’s first footwear brand focused on the foot-health of children, announced its global foray with its entry into the UAE market today. The Bengaluru-based company has partnered with Threads, UAE’s premier and largest retailer for school uniforms, shoes, and accessories.  Plaeto's black and white school shoes, in three more

    Al-Ataa Islamic Bank Signs for ICS BANKS Islamic Platform from ICSFS

    Baghdad, Iraq: Al-Ataa Islamic Bank for Investment and Finance has selected ICS BANKS Islamic Platform, a worldwide digital Shari’a compliant software solution, from ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions. Al- Ataa Islamic Bank is licensed to offer Islamic banking and investment services by the Central Bank of Iraq. The bank is focused on providing distinctive banking and finance solutions. Al- Ataa Islamic Bank is based in Baghdad and will be providing its Islamic financing products and services through its eight branches in most provinces of Iraq. The bank is specialised in project financing operations for small and medium companies, lease financing, real estate financing and other investment solution development. The signing ceremony took place end of more

    QIC Named “Domestic General Insurer” & “Auto Insurance Initiative” of The Year in Qatar At Insurance Asia Awards 2022

    QIC’s newest recognition reflects the company’s success in leading the change of general insurance in Qatar through introducing innovative products and services that best respond to the needs of customers over the past 12 months Doha, Qatar - 16 August 2022: Qatar Insurance Company (QIC), the largest insurance company in the MENA region, has received the “Domestic General Insurer of The Year” & “Auto Insurance Initiative of The Year” in Qatar awards at Insurance Asia Awards 2022. QIC’s newest recognition reflects the company’s success in leading the change of general insurance in Qatar through introducing innovative products and services that best respond to the needs of customers in Qatar over the past 12 months. The two prestigious accolades also reflect QIC’s excellence in more

    The Emirates Are Leading the FinTech Revolution

    In 2019, Dubai received the ‘World Capital of Blockchain Award’ at Barcelona’s Smart City Expo. The UAE has always been synonymous with development over the years, but this was not an award for another illustration of architectural excellence. It was a FinTech award. Having identified FinTech as a national priority, the UAE is leading the way in disrupting finance through technology. As it sought to diversify away from an oil-dependent economy, the Emirates succeeded in becoming a leading trading hub, but the third largest economy in the Arab League is now a leading global financial hub, and it is evident that they are quickly becoming a leader in technological advancements in that sector.   Prime Location The UAE is strategically and geographically well placed to continue leading the way in the more

    Sav Launches its Beta Program in the UAE

    August 15th, 2022 - Dubai: The household savings rates in the GCC region registered alarmingly low percentages in the previous years. This situation is pressing governments to intensify efforts and advance strategies towards a brighter future for household savings. GCC residents benefit from very low to no taxes yet remain challenged to save enough money due to rapid consumption.   Sav has emanated from an in-depth understanding of the GCC financial landscape, a concern about the future repercussions in case the situation persists, and a clear mission to be the drivers of change in the scene.   Sav has marked a memorable milestone by launching its beta program on August 3rd, 2022. It represents a significant moment for the UAE to witness the rise of the country's first woman-led, savings-focused fintech more

    Saudi Infrastructure Expo to debut September, Unlocking Opportunities in Saudi Arabia's US$300bn Infrastructure Projects Market

    • Saudi Infrastructure Expo to demo systems & infrastructure required to achieve rapid development in the Kingdom. Supporting Saudi Arabia’s Vision 2030 plans, the Leadership Summit aims to probe Vision 2030 delivery challenges & opportunities.   Dubai, UAE 15 August, 2022: A  new trade exhibition will debut in Riyadh this September to unlock opportunities in Saudi Arabia’s US$300 billion infrastructure projects plan.   Organised by dmg events, which has a decade of successful exhibitions in the Kingdom, the Saudi Infrastructure Expo (SIE) will run at the Riyadh International Convention & Exhibition Center from September 6th - 8th.  Big ticket multi-national names that are already in the exhibitor line-up include Egypt’s biggest contractor Hassan Allam, and the more

    UAE Research Program for Rain Enhancement Science Visits 4th Cycle Awardee Project

    Visit inaugurates an innovative project entitled “Improving the chemical and physical properties of seeding materials through electric charges” The Program  seeks to build on the ground-breaking results achieved by previous awardees in its efforts to advance rain enhancement research      Abu Dhabi-UAE: 15 August 2022 – A UAE Research Program for Rain Enhancement Science (UAEREP) delegation today visited Dr. Bradley Baker, an awardee of the Program’s 4th Cycle, in Boulder, Colorado in the United States to mark the inception of his innovative new project entitled “Improving the chemical and physical properties of seeding materials through electric charges”.   Led by Dr Abdulla Al Mandous, Director General of the National Center for Meteorology (NCM) and President of the more

    What is an eFoil

    And why have they flooded Dubai? Hotels and watersports centers have been renting out more and more efoils, but what’s the hype? We have known for a while that the future of transport is electric so it comes as no surprise that electric boats have emerged on the market. What we hadn’t expected was the arrival of electric-powered boards on the scene so quickly. The efoil (short for electric hydrofoil), the brainchild of a surfer from Puerto Rico, has been around for several years but is gaining popularity by the dozens these days. Social media has been bombarded with catchy videos of tanned surfers riding an efoil around islands in turquoise waters, Swiss lakes, and other insta-worthy destinations, so it is not unusual that Dubai has also made its way into their line of sight. Not known for its optimal wave and more

    Al Hassan Ghazi Ibrahim Shaker Co. Reports a Significant 72.3% Year-on-Year Increase in Net Profit Reaching SAR 26.4 million in H1 2022

    • Total revenue of SAR 635.9 million, up by 10.1% compared to H1 2021 • Gross profit of SAR 143.2 million, an increase of 20.4% year-on-year (y-o-y) • Net profit 72.3% higher at SAR 26.4 million y-o-y • Operating profit 77.4% higher by SAR 12.4 million y-o-y • Successfully completed capital restructuring to eliminate accumulated losses     Riyadh, Saudi Arabia, 15 August 2022: 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 first half of 2022.    Revenues for the first half of 2022 increased by 10.1% reaching SAR 635.9 million from SAR 577.8 million in H1 more

    QIB Announces Third Misk Account Millionaire

    Mr. Ahmad Abdulla Al-Malki announced as third Millionaire winner in this latest edition of Misk Account Draw Doha, Qatar – 15, August 2022: Qatar Islamic Bank (QIB) is pleased to announce the third millionaire winner of its highly anticipated Misk Account draw.  The draw was held in the presence of official representatives from the Ministry of Commerce and Industry as well as QIB officials. Mr. Ahmad Abdulla Al-Malki was randomly selected, making him the lucky third millionaire of this edition. QIB is awarding 4 Millionaires throughout the year, and offering QAR 10,000 to 15 winners every week, in addition to QAR 50,000 to 2 lucky winners every month in its 5th edition of the Misk Account. This brings the total number of winners to 808 receiving QAR 13 Million dedicated for this edition, the largest prize pool in more

    AD Ports Group Q2 2022 Net Profit Surged 59% YoY

    Revenue grew by 35% YoY to AED 1,242 million driven by the Maritime and EC&FZ clusters EBITDA increased by 41% YoY to AED 532 million Net Profit surged 59% YoY to AED 300 million Capex reached AED 1.6 billion, in line with the Group’s capital investment plans to spend more than AED 15 billion across all clusters over the 2022-26 period Net leverage stood at 0.9x, leaving ample room for further organic and inorganic growth; USD 1 billion RCF remains unutilised Container volumes grew by 30% YoY while Ro-Ro and cruise passenger volumes continued their healthy recovery post COVID-19 disruptions Record 3.9 km2 of new land leases signed during H1 2022 - more than the annual land leases signed in each of 2021 and 2020 FTSE Emerging Markets Index inclusion in June 2022 Abu Dhabi, UAE - 13 August, 2022: more

    Dukhan Bank Announces the August Draw Winners of its Thara'a Savings Account Prize

    Doha, Qatar – 13, August 2022 – 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 Adel Bazuhair and Ali Al-Malki each won a cash prize of 10,000 Qatari Riyals. Also, a cash prize worth 5,000 Qatari Riyals was awarded to Ibrahim Al-Ansari, Sornamoopanar Kumar, Hafiz Jabr, Alan Leung, Shanmugam Sugumaran, Hussain Al-Jaber, Osama Alghanem, Jassim Fakhroo, Mushreq Ayesh, Abdul Rahiman Bangara, Muneera Al-Fadala, Aisha Al-Mohannadi, Hanna Hirylovich, Mohammed Abduzzahar, Noof Al-Subaey, Fahed Alzoubi, Lolwa Al-Naemi, Carol Bernes, Abdullah Al-Malki, Yehya Taher, Jannette Serrano, Ghada Al-Kawari, Mubarak Al-Naimi, Omran Al-Kawari, Ibrahim Al Kawari, Sabeeka more

    Julphar Announces Robust Q2 2022 Results Marking a Return to Profitability

    • EBITDA remains on a positive upwards performance with strong results for a second consecutive quarter following 2030 strategic turnaround plan  • Q2 2022 EBITDA from continuing operations of AED 44.2m marks a return to a double digit margin of 10.5% of net sales August 12, 2022: Gulf Pharmaceutical Industries PSC (Julphar or the Company), one of the largest pharmaceutical manufacturers in the Middle East and Africa, today reports its financial results for the second quarter. The Company reported robust results achieving AED 419.9million in net sales for Q2 2022, marking a 91% increase versus Q2 2021. While geo-economic headwinds have impacted year-to-date and quarter-on-quarter sales in markets such as Algeria, Ethiopia and Morocco, Julphar’s operations and productivity have remained consistent in these more

    IHC Sails Into Turkish Market and Acquires 50% of Renewable Energy Company “Kalyon Enerji” in AED 1.8 billion Transaction

    • The deal comes as part of IHC’s long-term investment strategy in the clean energy sector.  • Kalyon Karapınar Solar Power Plant established on approximately 20 million square meters of land in Konya’s Karapınar district. • This strategic partnership includes some other renewable projects in Turkey.    Abu Dhabi, UAE - Aug 11 2022: International Holding Company PJSC (ADX: IHC), the diversified Abu Dhabi-based conglomerate, has announced today the acquisition of a 50% stake in Turkish clean energy market leader "Kalyon Enerji" for AED 1.8 billion through its subsidiary International Energy Holding.    Kalyon Enerji is owned by the giant Turkish group Kalyon Holding, which operates in the Construction, Energy and Aviation industries. In this more

    HPE Appoints Savio Ibrahim to Lead the Company's Operations in Qatar

    Doha, Qatar - August 09, 2022:  Hewlett Packard Enterprise (HPE) has announced that Savio Ibrahim has been appointed as Country Manager for Qatar.   Savio is responsible for delivering unique, open and intelligent technology solutions as a service, with offerings spanning Cloud Services, Compute, High Performance Computing & AI, Intelligent Edge, Software, and Storage. He is tasked with driving further growth and maintaining high levels of customer and partner satisfaction. Savio reports into Raif Abou Diab, the Managing Director for the Egypt, Qatar and Levant region.   Prior to taking up his new role, Savio was Sales Manager and Channel Leader for the Egypt, Qatar and Levant region. Savio joined HPE in 2014 as a senior account manager in Lebanon. After excelling in this role, he was promoted to Territory more

    IHC Smash Previous Record Reporting Over AED 10.3 Billion in Net Profits in H1 2022

    Strong result driven primarily by subsidiary's solid performance and profitable business acquisitions in first half 2022.   H1 total revenue touched AED 21.93 billion, an increase of 121% as compared to June 2021. IHC to increase its global investments in 2nd half of 2022 through mega deals and acquisitions.      Abu Dhabi, UAE; 08 August 2022:  International Holding Company PJSC (ADX: IHC), a diversified Abu Dhabi-based conglomerate, has posted new record Profits in the first half of 2022, as the company continues its aggressive investment strategy through a focused, high-conviction approach, targeting local and international business acquisitions with sustainable earnings and cash flow growth.   The solid business performance across all IHC subsidiaries has resulted in a more

    Baladna Signs Shareholder Agreement to Establish an Integrated Dairy Farming Business in Malaysia

    Joint venture with FGV Holdings Berhad and Touch Group Doha, Qatar, 06 August 2022: Baladna has entered into a conditional shareholders’ agreement (Conditional SHA) with Malaysian companies FGV Holdings Berhad (FGV) and Touch Group Holdings Sdn Bhd (TGH), to develop an integrated dairy farming business in Malaysia. Expected to be commercially operational by 2025, the project will produce 100 million litres of fresh milk per annum within the first three years and is expected to reach 300 million litres of fresh milk within 10 years. Based on Baladna’s highly successful “grass to glass” concept, the joint venture will be fully integrated, from crop production to feeding the cows, to the processing and sale of the highest quality fresh milk.  The agreement was signed by Piet Hilarides, Chief Executive more

    Burgan Bank Announces the Winner of the Al-Thuraya Salary Account Monthly Draw

    Kuwait, 8th August 2022:  Burgan Bank announced today that Mr. HASAN AFET ALSHAMMARI is the lucky winner of the draw prize of Al-Thuraya Salary Account monthly draw.  The draw rewards new and existing customers who transfer their salary to Burgan Bank by offering them a chance to win KD 10,000 every month. Each account holder has one chance to enter the draw. The Al-Thuraya account holders have the option to hold money in Kuwaiti Dinar and other major currencies and can access account-related services such as standing orders, loans and credit cards, and benefit from the discounts and offers throughout the year. more

    ADNOC Distribution Announces H1 2022 Results, Records Strong Performance

    Company reported EBITDA of AED 1.99 billion and Net Profit of AED 1.56 billion in the first half of 2022 ADNOC Distribution’s fuel volume grew by 9% compared to H1 2021, driven by its commercial and retail businesses In H1, company achieved approximately 60% of its 2022 network expansion target, delivering 38 new stations across the UAE and Saudi Arabia, growing its total network to 538 stations The company further signed an agreement to acquire a 50% stake in TotalEnergies Marketing Egypt, which includes 240 fuel retail stations, wholesale fuel, aviation fuel and lubricants operations, delivering on commitment to international growth Abu Dhabi, UAE – August 8, 2022:  ADNOC Distribution (ISIN: AEA006101017) (Symbol: ADNOCDIST), the UAE’s largest fuel and convenience retailer, which is listed on the Abu more

    QIC Group Net Profit Rises to QAR 401 Million in H1 2022

    Doha, 08 August 2022: Qatar Insurance Company (QIC), the leading insurer in Qatar and the Middle East North African (MENA) region, registered a strong net profit of QAR 401 million for the first half (H1) of this year ending 30 June 2022. The Group’s robust results was driven by the solid performance of its domestic and MENA operations, strong technical results across QIC’s franchise and the cost-leadership of its operations. Amid continued economical headwinds the Group’s gross premium volume remained stable at QAR 6.3 billion in the 1st half of 2022 building on QIC’s strengths in personal lines and advanced online services. QIC expands its leadership in a challenging environment  In an environment of high volatility in the financial markets, where the economic growth estimates are showing a downward more

    i-PRO Now Adds AI to its PTZ Cameras and Revamps the Range

    New features include AI at the edge of the network enabling auto-tracking, the best low light performance and enhanced cybersecurity.   Dubai, United Arab Emirates:  i-PRO, a global leader in professional security solutions for surveillance along with its regional distributor Panasonic in the Middle East & Africa region, announced the addition of AI to its PTZ (pan, tilt, zoom) cameras and a revamp of the entire PTZ range, adding a total of 35 new cameras.   The new PTZ range was introduced at the launch event recently held in Dubai and attended by 90 dealers, contractors and integrators.   Delivering on its mission of AI-ification of the security industry, i-PRO has added its first AI-enabled PTZ cameras to the S-Series. The cameras include a powerful built-in AI processor enabling advanced automatic more

    Burgan Bank Announces the Names of the Monthly Draw Winners of Kanz Account

    Kuwait – 6th August 2022:  Burgan Bank announced today the names of the Kanz account monthly draw winners, who will each take home a KD 1,000 cash-prize. All Kanz customers who maintain a minimum balance of KD 200 for at least one week before the draw date, are included in the draw, and their chances of winning increase with higher deposits.    The 20 lucky winners are:    • ABDULLAH IBRAHIM ALHAMEEM • ABIDA PARVEEN SROUR • ADEL BADEWI ALFAHAD • BARAK SAEED ALFADLY • BASHAYER MOHAMAD ALSHATTI • HADI FAHAD ALAJMI • HANA KHALAF ALMUTLQ • HUDA IBRAHIM BIZAR • HUMOUD BODASTOUR • JUZAR BANKODAWALA • MASHAEL ABDULHAMEED SALMAN • MIRVAT QASEM NAJEM • MOHAMMAD ALI QABAZARD • MOHAMMAD MOHSEN more

    Top Business Leaders and Techies to Share Expertise at 3rd MENA Innovation and Technology Transfer (MITT) Summit at SRTI Park

    To be held on October 13, the one-day event will highlight how best to shape the future of innovation and knowledge sharing in the region Sharjah, UAE, August 4, 2022: A galaxy of business leaders, innovators and techies will take the centre-stage at the 3rd Middle East Innovation and Technology Transfer (MITT) Summit, the region’s biggest specialized event in technology transfer and innovation, to be held at the SRTI  Park, Sharjah, on October 13. Leading experts from the region and across the globe will discuss how to best shape the future of innovation while creating sustainable impact, in line with the UN’s Sustainable Development Goals, covering topic like Water Technology, Renewable Energy, Environmental Technology, Digitization, Industrial Design 4.0, and Mobility and Smart Cities. The participants in more

    Saudi Maritime Congress 2022 Reveals Power-Packed Lineup of Speakers

    Leaders and industry experts from Saudi Arabia and the world over will share the latest updates from the Kingdom and beyond  Dammam, Saudi Arabia – 4th August 2022: The 3rd edition of Saudi Maritime Congress, one of the Kingdom’s largest gatherings of professionals from the maritime and logistics industry unveils speakers for the event scheduled to take place in Dammam on September 28-29 2022.  The two-day conference programme will take place alongside an exhibition that will comprise a show floor of 50+ exhibitors, including global leaders and niche suppliers from the regional and global maritime and oil and gas industries. Speakers will give macro updates on regional industry performance. They will also share insights on topics of significance including the fuel revolution and the role the region plays in more

    DAE announces Financial Results for the Six Months ended June 30, 2022 Profit before Exceptional items Rises 186% to US$140.1 Million

    Dubai, U.A.E., 4 August 2022 – Dubai Aerospace Enterprise (DAE) Ltd today reported its financial results for the six months ended June 30, 2022. The consolidated financial statements can be found here.    Selected Financial Highlights:   Six Months Ended US$ millions Jun 30, 2022 Jun 30, 2021 Total Revenue 582.8 613.4 Profit for the period before exceptional items (1) 140.1 49.0 Operating Cash Flow 678.5 498.5 Exceptional Items, net of tax (537.9) -     Adjusted Pre-Tax Profit Margin (1)(2) 23.0% 11.0% Adjusted Pre-Tax Return on Equity (1)(2) 8.8% 4.6%       As at US$ millions Jun 30, 2022 Dec 31, 2021 Total Assets 11,503.1 12,609.6 Net Loans and Borrowings 7,214.8 7,813.7 Available Liquidity 2,725.3 2,910.3     Net Debt to more

    Nucleus Research Positions Infor as a Leader in its 2022 Enterprise ERP and SMB ERP Technology Value Matrix Reports

    Infor recognized for the functionality and usability of its solutions     DUBAI – August 4, 2022 – Infor®, the industry cloud company, announced that Nucleus Research has positioned Infor as a leader in its June 2022 Enterprise ERP Technology Value Matrix 2022 – and its Small and Midsize Business (SMB) ERP Technology Value Matrix.   Infor was one of only two vendors to be positioned as a leader in both reports. In the SMB ERP Value Matrix, Infor also was positioned furthest to the right in the leader’s quadrant, making it the highest ranked, among the leaders, for solution functionality.      Download a complimentary copy of the Nucleus Enterprise ERP Technology Value Matrix 2022. Download a complimentary copy of the Nucleus SMB ERP Technology Value Matrix more

    QIC Group Hosts Long Service Awards

    Doha – Qatar:  Qatar Insurance Group, the leading insurer in Qatar and the MENA region, celebrated its long-serving employees at an awards ceremony held earlier this week.  Colleagues with 5, 10, 15 and 20 years of service were presented with certificates and trophies of appreciation at QIC Group’s headquarters in West Bay.  The ceremony was attended by several of QIC Group’s senior management & employees. Mr. Khalifa Abdulla Turki Al-Subaey, Chairman & Managing Director of QIC Group, handed over the long service awards to 27 recipients this year.  Among the distinguished recipients this year was Mr. Salem Al Mannai, QIC Group CEO, who was recognized for his 20 years of service.   “QIC Group Long Service Awards are a symbol of QIC Group’s appreciation towards more

    Servomex Establishes New Middle East Hub at ADAFZ

    • Servomex, a global expert in gas analysis announced its regional operations base at ADAFZ  • Servomex will provide the UAE and wider region with specialised gas sector products      Abu Dhabi, UAE – 03, August 2022:  Abu Dhabi Airports Free Zone (ADAFZ), a wholly owned subsidiary of Abu Dhabi Airports, announced that Servomex, the global expert in gas analysis, officially launched its operations at the airport freezone. As a leading provider of reliable, accurate and stable gas measurement solutions to industries worldwide, Servomex will provide essential gas-related services to the local market whilst serving clients and customers across critical industries from its new Middle East Office at ADAFZ.    Servomex designs, manufactures, and distributes a wide range of more

    Qatar Post Launches COVID-19 Stamps to Honor those that Served the Community during the Global Epidemic

    Doha, Qatar – 03, August 2022: The Qatar Postal Services Company - Qatar Post has issued a set of special-edition COVID-19 postage stamps in honor of all frontline workers, such as medical and health care staff, police and military personnel, and postal workers, who provided their essential services to the community members during the global pandemic (COVID-19) crisis.  This set comes within Qatar Post's efforts to monitor and document historical events and highlight Qatar’s key achievements in addition to important and national occasions, as postage stamps are one of the rapidly spreading means of communication. The COVID-19 stamps set consists of two stamps worth QAR 7 and an envelope for the first day issue at QAR 8, and the folder itself will be sold to the public for QAR 70. There are currently more

    GCC Hospitality Industry to Witness Steady Growth after Sharp Post Pandemic Recovery, says Alpen Capital

    DUBAI – August 3, 2022:  Alpen Capital’s latest hospitality sector report for the GCC projects the industry will return to pre-pandemic levels in 2022, registering a 74.8% year-on-year growth and reaching a revenue of USD 26.3 billion. It adds the industry is expected to grow with a Compounded Annual Growth Rate (CAGR) of 6.6% up to 2026. UAE-based investment banking advisory firm, Alpen Capital, launched its latest GCC Hospitality Industry report on Wednesday, August 3rd featuring detailed studies and forecasts on the hospitality sector, analyzing recent trends, growth drivers and challenges facing this dynamic segment. It also profiles some of the renowned hospitality companies in the region. The report was launched over a webinar followed by a panel discussion featuring Sanjay Bhatia, Managing Director, Alpen more

    ADX Market Data Goes Live on TradingView Platform

     30+ million TradingView global users to get access to ADX data   ABU DHABI, Aug 03, 2022:  The Abu Dhabi Securities Exchange (ADX) has signed a new data-sharing partnership with TradingView, a leading financial information portal based in the US, to help attract a new generation of global traders and investors to the exchange.    As part of the agreement, ADX market data is now live on TradingView’s platform and accessible by a large base of local, regional and international investors who are also TradingView users.   TradingView delivers financial intelligence and state-of-the-art tools for traders to make informed decisions and profitable trading decisions. It has a growing base of social traders, with around 30 million users and over one million paid subscribers around the more

    Amlak Finance Announces H1 2022 Financial Results

    • Amlak H1 2022 net group profit up by 35% compared to the same period last year • Total assets stand at AED 3.8 billion • Debt settlement arrangements yielded AED 225 million gain and contributed in total debt reduction of AED 565 million (including Mudaraba instrument of AED 120 million).   Dubai, UAE: 03 August 2022: Amlak Finance PJSC today announced its H1 2022 financial results. Amlak reported a net profit of AED 266 million for H1 2022 as compared to net profit of AED 197 million for H1 2021. The company focused on prudently managing its UAE operations and balance sheet.    Amlak’s total income for H1 2022 decreased by 9% to AED 319 million as compared to AED 351 million in H1 2021. Revenues from financing business decreased by 19% to AED 69 million during H1 2022 as compared more

    AD Ports Group and Hutchison Ports Ink MoU to form Strategic Partnership

    282 cars delivered in the Middle East Collaboration to focus on enhancing operations of both organisations across the maritime and logistics sectors     Abu Dhabi, UAE – August 2, 2022: AD Ports Group, the leading facilitator of trade, logistics, and industry in Abu Dhabi, today announced that it has signed a Memorandum of Understanding (MoU) with Hutchison Ports, the world’s leading port investor, developer and operator. As per the MoU, AD Ports and Hutchison Ports will identify joint investment and business opportunities related to feedering, logistics, and port activities across the GCC, Africa, and Asia.  Additionally, the two organisations will form a partnership to operate within Tanzania, where they will work closely together to explore opportunities to further enhance the capabilities and more

    LG Announces Second-Quarter 2022 Financial Results'

    Highest Second-Quarter Revenue in Company’s History Reflects Sales Growth for Premium LG Home Appliances and Auto Parts DUBAI - August 2, 2022 — LG Electronics Inc. (LG) announced its highest-ever second- quarter revenues, reflecting strong sales for LG home appliances in key regions and the profitable growth of LG’s vehicle components business as the global automotive industry rebounds.  LG reported revenues of KRW 19.5 trillion in the second quarter of 2022, 15 percent higher than the same quarter the previous year. Operating profit for the second quarter was KRW 792.2 billion, 12 percent lower than the same quarter last year, largely due to supply chain challenges and higher logistics costs.  Given the business impact of the evolving state of the pandemic and economic conditions, LG is more

    Ghitha Reports AED 80 Million in Profit for Q2-2022 as Sales Hit New High

    • Ghitha profits have grown by 471% compared with Dh14.1m in the same period last year. • The company continued to strengthen and grow its market position through acquisitions and organic growth.  • Revenue for Q2 at a record peak of AED 576 million.    Abu Dhabi, UAE; 2 August 2022: Ghitha Holding PJSC, the leading regional foodstuff trading and distribution company, and subsidiary of International Holding Company (IHC), has announced its second quarter results for 2022 with profit of AED 80.65 million, surging by more than 471% for the same period last year.   Ghitha reported record-breaking numbers, led by its revenue reaching AED 576 million, which shows immense growth of 276%, soaring up from AED 153 million in Q1-2021. It has overseen a solid push to expand the company’s more

    Emirates Steel Arkan Announces Q2 2022 Results

    • Group Q2 net profit jumped 184% from Q1 to AED 207 million  • Q2 revenues increased to AED 2.57 billion • H1 net profit advanced to AED 280 million on revenue of AED 4.61 billion    Abu Dhabi, United Arab Emirates - 02 August 2022: Emirates Steel Arkan (ADX: EMSTEEL) (the “Group”), the largest publicly traded steel and building materials company in the UAE, today announced its second quarter results.      The Group reported a net profit of AED 207 million in the second quarter compared to a pre-merger loss of AED 24 million in the same period of last year and a 184% gain from AED 73 million in Q1, driven by higher sales volumes and prices, enhanced operational efficiencies, and a supportive commodity market environment. Revenues rose to AED 2.57 billion in Q2 more

    UAE Minister of Industry and Advanced Technology Visits Tawazun Industrial Park and EDGE Group and Praises Nation's “High-Level Competencies” in Priority Industries

    Abu Dhabi, August 2, 2022: His Excellency Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, has led a joint delegation by the Ministry of Industry and Advanced Technology (MoIAT) and the Ministry of Defence (MOD) to the Tawazun Industrial Park and the Tawazun Economic Council (Tawazun), the integrated national centre for defense, security, and aviation industries. His Excellency also met with senior leadership of the Edge Group, one of the world’s leading advanced technology conglomerates. The visit came as part of a series of tours conducted by His Excellency to review the performance of industrial facilities in the UAE and discuss ways to further attract global investors and industrialists to the country. This is in line with the Ministry’s Make it in the Emirates initiative, which seeks to more

    SADAFCO Signs Strategic Agreement with Jeddah's Social Responsibility Association

    Jeddah, Saudi Arabia, 01 August, 2022: SADAFCO has signed a strategic agreement with Social Responsibility Association, the first licensed association specialized in CSR in the Makkah Province. The two organizations having successfully worked together in the past, 2022 is the year when the relationship will take a broader and more strategic approach. As the parent organisations of Saudia, SADAFCO is an unmatched national brand. Today, it is a household name and part of the Saudi heritage close to people's hearts and minds across the region.  SADAFCO considers it an honor and uses its place in society to support thousands of less fortunate families. Speaking on the occasion, Patrick Stillhart, Chief Executive Officer of SADAFCO, said: “I am as honored to host this signing ceremony with the together endowment. The more

    LG Announces Second-Quarter 2022 Financial Results

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    High-Level Expo Event Highlights Need to Manage Risks of Climate Change, Predicting and Acting Ahead of Crises

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    Zizou Bergs Triumphs At Inaugural Tie Break Tens Dubai Presented by Zone

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    PLAY-DOH Celebrates Shaping Imaginations for 65 Years

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    VFS Global COVID-19 Test Booking Credentials Accepted in the IATA Travel Pass

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