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    Featured in Banking and Investments
    Dukhan Bank Announces the December Draw Winners of its Thara'a Savings Account Prize

    Doha, Qatar – 9 December 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 Nasser Al-Hajri and Mohammed Al-Mannai each won a cash prize of 10,000 Qatari Riyals. Also, a cash prize worth 5,000 Qatari Riyals was awarded to Abdellatif Azzaoui, Latifa Al-Bahr, Mohammed Al-Abdulla, Faisal Al-Sada, Saad Al-Marri, Sayed Abdelaziz, Rey Balita, Maha Abuhujleh, Shaikh Munawaruddin, Aljawhara Al-Ali, Rana Alturani, Layla Aljaber, Maryam Al-Moslemani, Bashir Tambe, Mohammed Al-Malki, Medel Tan, Musab Ahmed, Omar Al-Hammadi, Siddique Mohammed, Noor Mohamed, Adeeba Al-Sulaiti, Noora Alabdulmalik, Rashid Al-Maslamani, Amira Braham, Muna Meghary, Mohamed Bayoumy, more

    KIB Concludes PayTally Show dedicated to Offering Numerous Comprehensive Financing Deals Under One Roof

    Kuwait, 9 December 2023: After three exciting days, Kuwait International Bank (KIB) concluded its PayTally Show, which took place at The Arena Kuwait – 360 Mall. Bringing together all its PayTally program commercial and service partners under one roof, the special exhibition offered tailored financing offers to both customers and non-customers, assisting them in accessing products and services that meet their needs in a more modern and convenient manner. This initiative aligns with KIB’s comprehensive corporate social responsibility strategy, embodying its goals of elevating customers’ banking experience, especially in the realm of financing, to be more comprehensive and integrated.  Commenting on the occasion, Musaab Al-Shaalan, Deputy General Manager of the Retail Banking Department at KIB, said: “We more

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

    Kuwait, 9 December 2023:  Burgan Bank announced today the names of the Kanz account monthly draw winners, who will each take home a KD 2,000 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:  • WALEED ARIF ARIF • REDA ELSAYED BAHGAT • MOHAMMED AKARAM MOHAMMED • RALPH GHASAN ZEIN • WALEED SALEH ALALI • NASER MOHAMMAD ALZOABI • CATHERINE DE GUZMAN PINE • EMAN MOHAMMAD HUSSAIN • SUAD RAMADHAN ALI • ABDULLAH FAWAZ ALABDULLAH • ADEL SAAD ALSALAHAT • DONG SUK SEO • ZAINAB NASER KAMAL • ADEL ALI ALHAZEEM • GHADA ATIEH more

    Booth Club ME Launches in the UAE, Bringing Globally Renowned Megabooth's Iconic Photo Experiences

    Booth Club ME is the regional extension of the European photobooth company, Megabooth, well known for its work with some of the top brands across the globe     The new launch of Booth Club ME means that corporate events, weddings, anniversaries, celebrations, and so much more are about to hit another level of excitement    Dubai, UAE (November 2023): The spotlight is now on the UAE as Booth Club ME, the much-anticipated regional extension of the iconic European photobooth innovator Megabooth, announces its grand launch in the heart of the United Arab Emirates. Founded by Lee Hoppen, the visionary mind behind Megabooth, Booth Club ME aims to revolutionise events across the region with its unparalleled and quirky photo experiences. Born in England by a ragtag group of creative minds, Megabooth is already well more

    LM Exchange and Federal Bank Celebrates the Success of Inaugural Emirati Employee Training Programme

    Dubai, UAE; December 06, 2023: In a significant step towards empowering local talent, LM Exchange, one of the leading money transfer and currency exchange companies in the UAE, in collaboration with India's renowned Federal Bank, has successfully concluded a specialized training programme for its Emirati workforce. The inaugural initiative saw five Emirati employees complete an intensive week-long course at the Federal Bank's Training Academy in Aluva, India. The comprehensive curriculum covered crucial topics, including Anti-Money Laundering (AML), IT, digital banking innovations, counterfeit currency detection, and customer service excellence, among others. Beyond the classroom, participants also had the opportunity to engage with Mr. Shyam Srinivasan, Managing Director and CEO, and Ms. Shalini Warrier, Executive Director of more

    ADAFZ Sign Musataha Agreement with Grand Move to Develop AED 65 Million Community Mall in Al Falah District

    Abu Dhabi: 07 December, 2023: Abu Dhabi Airports announced today a deal between Abu Dhabi Airport Free Zone (ADAFZ) and Abu Dhabi based Grand Move, to develop a 35,000 square metre community mall in the new Al Falah district.  The deal, sealed at the BIG5 construction event in Dubai, is structured as a Musataha agreement for a term of 29 years and carries an initial project investment of  AED 65, 300,000. The Grand Move Group is a real estate organisation that owns several retail brands and a variety of luxury brands that target GCC customer demands for fashion and lifestyle. Commenting on this new announcement, Maureen Bannerman, Chief Commercial Officer, Abu Dhabi Airports stated “We are pleased to announce this Musataha Agreement will contribute to the development of the new Al Falah district, bringing more

    Critical Infrastructure Still at High Risk: Forescout Research Spotlights 21 New Vulnerabilities

    Impact includes popular routers, open-source components used to connect critical local networks in energy, healthcare, transportation, and emergency services Forescout, a global cybersecurity leader, today released “SIERRA:21 – Living on the Edge,” an analysis of 21 newly discovered vulnerabilities within OT/IoT routers and open-source software components. The report — produced by Forescout Research – Vedere Labs, a leading global team dedicated to uncovering vulnerabilities in critical infrastructure — emphasizes the continued risk to critical infrastructure and sheds light on possible mitigations. “SIERRA:21 – Living on the Edge” features research into Sierra Wireless AirLink cellular routers and some of its open-source components, such as TinyXML and OpenNDS. Sierra more

    Burgan Bank Concludes Another Year of Committed Support for the “Let's Be Aware” Awareness Campaign

    As part of its expansive social responsibility program Kuwait, 6 December 2023:  On its mission to uphold its institutional promise to remain “Driven by You”, and promote the prosperity of its communities, Burgan Bank continues to invest in its robust positive impact program. In social responsibility, just like everything else it does, the Bank seeks to lead with innovation and adopt progressive strategies to create real value for its people – especially its customers. As a Bank, Burgan understands that a major area that helps it deliver real value, and drive tangible positive change, is the area of financial literacy.  In 2023, Burgan Bank concluded the third year of its unwavering support for the “Let’s Be Aware” (Diraya) banking awareness campaign – launched in 2021 by the more

    Schneider Electric announces Google, ASM and HP have Joined the Catalyze Program for Semiconductor Supply Chain Decarbonization

    • Growing participation in the program promises to greatly expand access to renewable energy in semiconductor space • Announcement coincides with COP28 climate conference   Dubai, UAE, December 6, 2023 – Schneider Electric, the leader in the digital transformation of energy management and automation, today announced that Google, ASM and HP have joined the Catalyze program, which aims to accelerate access to renewable energy across the global semiconductor value chain and IT supply landscape, as new global sponsors.   The first-of-its-kind program was first announced in July, with sponsors Intel and Applied Materials. The announcement that three more leading technology companies have now joined as founding sponsors coincides with the COP28 United Nations Climate Change Conference taking place in more

    ToYou is the First Super App in Saudi Arabia to Implement the Innovative Buy Now Pay Later Feature

    Riyadh, Saudi Arabia, December 05, 2023: ToYou, a Saudi-based super app, has significantly enhanced the online shopping experience by introducing the Buy Now Pay Later (BNPL) feature. Launched in January 2023, ToYou is the first to adopt this payment solution, influencing others to follow. With its convenience and flexibility, ToYou Pay Later has transformed how customers shop and pay for purchases. To avail themselves of the ToYou Pay Later feature, customers can select the option during the checkout process on the ToYou Super app. No additional charges or fees are associated with this feature, making it an attractive choice for users. The ToYou Pay Later feature is available across all cities in Saudi Arabia, offering convenience and accessibility to customers nationwide. Introducing the BNPL feature on ToYou empowers customers more

    BinDawood Holding Company Earns Honorary Shield for Compliance Excellence

    Jeddah:  BinDawood Holding Company has announced its distinguished recognition by the General Authority for Competition, receiving an Honorary Shield for being one of first companies obtaining a Compliance Certificate in the Kingdom of Saudi Arabia. The accolade was presented during the launch ceremony of the electronic compliance portal held in Riyadh under the patronage of His Excellency, Dr. Ahmed bin Abdul Karim Al-Khulaifi, Chairman of the Authority’s Board of Directors, on Tuesday, December 5th, in Riyadh.   The Compliance Certificate is one of the initiatives of the General Authority for Competition aimed at supporting the compliance of companies aligning with the Competition Law and its implementing regulations. BinDawood Holding Company received this esteemed certificate on June 4, 2023, highlighting its more

    KIB adds multi-currency ATM to its Expansive Network

    Kuwait, 5 December 2023: Kuwait International Bank (KIB) announced that it has installed a new multi-currency ATM at the Kuwait International Airport, as part of efforts to continue providing a seamless, comprehensive and distinctive banking experience for its customers. This step falls in line with the Bank’s integrated strategy aimed at strengthening the ATM network using the latest technology. It also stems from KIB’s commitment to continue developing its services and products to meet all customer needs as a “Bank for Life.” Commenting on the initiative, Ahmad Abdullah Alanazi, Assistant Manager – ATMs, Retail Banking at KIB, said: “We are currently witnessing fast-moving transitions and successive developments in the banking market with every passing second. This pushes us to continuously more

    QIC Launches “3 Months Free Insurance” Promotion

    New customers can benefit from a 12-month comprehensive insurance for the price of just 9 months The offer is ongoing until 29 February 2024 and provides flexible payment options, including a monthly installment plan Doha, Qatar - 5 December 2023: Qatar Insurance Company (QIC), the leading insurer in Qatar and the MENA region, announced the launch of its exclusive end of the year car insurance promotion, allowing new motor customers to get 3 months of comprehensive car insurance for free. With this offer, every new customer who purchases a comprehensive car policy will benefit from a 12-month full insurance coverage for the price of just 9 months, which means that the customer gets 3 months of coverage for free. Ongoing until 29 February 2024, QIC’s new promotion can be availed when buying a new comprehensive policy in more

    Comparing Investor Options: Spain vs UAE Golden Visa Insights

    Developed countries attract foreigners. It can be a business trip, a vacation, a romantic trip, or even a relocation. Yes, yes, many users are seriously thinking about obtaining a second passport for comfortable business, as well as freedom of movement. They consider countries with a comfortable climate, beautiful landscapes, and developed infrastructure for these purposes. Such countries as Spain and Dubai are considered excellent options for this purpose. Spain is considered to be a popular vacation destination. Located in Southwestern Europe, the country is admired for its majestic views and high standard of living. People with rich history, unique cultures, and traditions live here. One can join them by applying for a Spanish Golden Visa. A dynamic economy and world-class amenities are all available in the United Arab Emirates. more

    Burgan Bank Appoints Naqeeb Amin as General Manager of Human Resources and Development for the Group

    As part of its efforts to foster national talent across all departments, especially at the leadership level Kuwait, 5 December 2023:  Burgan Bank announced the appointment of Mr. Naqeeb Amin, as the General Manager of Human Resources and Development for the Group. Joining the Bank at an important moment of transformation, Mr. Amin will spearhead the Bank’s expansive human capital development efforts; crafting long-term strategies to attract, retain, and foster top national talent across the organization. Following a series of top-level appointments and promotions across Burgan Bank in the past few months, this latest move seeks to further strengthen the Bank’s senior leadership team with some of the industry’s best talents. Earlier this year, the Bank unveiled a new strategy and transformation roadmap, more

    Kuwait's EnerTech Ventures and Rwandan Government Ink Deal at COP28 to Establish Carbon Framework in Rwanda

    Dubai-UAE. 4 December 2023: EnerTech Holding Company, the Kuwait-based innovator, investor and developer of end-to-end sustainability solutions, have signed an agreement with the government of Rawnda on the sidelines of COP28 to establish a fair and effective carbon framework in Rwanda, and accelerate the deployment of renewable energy. The Memorandum of Understanding (MOU) was signed by Ammar Shihab, CEO of EnerTech Ventures, Her Excellency Dr. Jeanne d'Arc Mujawamariya, Minister of Environment in Rwanda, His Excellency Vincent Biruta, Rwanda’s Minister of Foreign Affairs and International Cooperation; and Teddy Mugabo, CEO of Rwanda's Green Fund.  Under the agreement, Rwanda will provide Kuwait with two types of carbon credits. The first category comprises nature-based carbon credits, which are proprietary to more

    Ooredoo Kuwait Takes Center Stage in Cybersecurity Dialogue at ktech

    Kuwait, 2nd December 2023:  In line with the Computer Security Day, Ooredoo Kuwait, a world-class digital leader offering innovative services and platforms to facilitate the digital transformation in Kuwait, proudly assumed a significant role as a partner in the recently concluded 3rd Annual Computer Security Day at kuwait technical college (ktech). This distinguished one-day conference was dedicated to advancing discussions on cybersecurity. The event, which is held every year on November 30 at the ktech Campus, proved to be an enlightening experience for all attendees, serving as a unifying platform for both public and private entities to explore the latest developments in cybersecurity. Ooredoo Kuwait's collaboration on this initiative reflects the company's commitment to empowering the youth and its dedication to more

    KIB Appoints Ma'ab Mohammed Qassem as General Manager of International Banking and Financial Institutions Department

    Kuwait, 3 December 2023: Kuwait International Bank (KIB) is pleased to announce the appointment of Ma’ab Mohammed Qassem as General Manager of the International Banking and Financial Institutions Department. This appointment reinforces KIB's commitment to fostering talent and empowering women in key leadership roles within the organization. Qassem brings a wealth of expertise, a proven track record in the international banking sector, and a fresh perspective to the Bank. In her new role, she will be responsible for developing and managing the Bank’s international relationships, growing the bank’s international portfolio, in addition to promoting the Shari’a-compliant banking solutions offered to international corporate clients.  Commenting on the Bank’s newest hire, Feras Al Darmi, General more

    Burgan Bank Concludes Golden Sponsorship of Conference Aimed at Integration of Persons with Disabilities in SDGs

    To champion inclusivity and social responsibility in Kuwait Kuwait, 2 December 2023:  As part of the Bank’s commitment to inclusivity and solid ESG practice, Burgan Bank successfully participated as a gold sponsor in the conference, “Integration of Persons with Disabilities in the Goals of Sustainable Development in the fields of Media, Health, and Entertainment,” in line with the New Kuwait 2035 vision. The conference was organized by Training Gate International (TGI) in cooperation with the General Secretariat of the Supreme Council for Planning and Development, Kuwait University, Yarmouk Health City, the Kuwait National Debate Team, and the United Nations Development Programme in Kuwait. Commenting on the Bank’s initiative, Mr. Ali Hussain Akbar, Deputy General Manager - Human Resources and more

    Why Dubai Startups are Attracting More Foreign Investment Than Ever

    The United Arab Emirates and Dubai have become major targets for foreign investment over the past few years. Many investors are keen to get a foothold in the region’s growing startup ecosystem, which has seen many major success stories. Dubai is an attractive proposition for any entrepreneur, and the UAE government has gone to great lengths to ensure that the city can become a hub of innovation fuelled by the latest in technology.   In 2020 and 2021, Dubai alone accounted for more than 30% of all foreign direct investment (FDI) in the Middle East and North Africa (MENA) region. In addition, the city was the number one area for FDI in the Arab world in 2022. Even in the wake of the global pandemic, the UAE has proved to be a remarkably resilient and attractive market for investment. Here are some of the reasons more

    Tetra Pak and United Paper Mills announce next step in Landmark Agreement to Revolutionise used Beverage Cartons Recycling in the UAE

    On the eve of COP28 and with a joint investment of over 2.5 million AED  Dubai, UAE, 1 December 2023: Tetra Pak and Union Paper Mills (UPM) have entered the next stage of their partnership, marked by the signing of a ground-breaking AED 2,500,000 recycling agreement aimed at establishing a commercially viable collection and recycling value chain for used beverage cartons (UBC) in the UAE. A memorandum of understanding was signed in November last year and has paved the way for significant progress in identifying the technical and investment needs for the recycling of UBC in the UAE. Since the signing of the MoU, Tetra Pak and UPM have engaged in extensive collaboration, including technical assessments, recycling expert visits from abroad, numerous meetings, and industrial trials with carton packages collected from local dairy more

    Trillion Bees Coalition Launches at COP28

    A new global coalition is coming together with a mission to raise awareness to reverse biodiversity loss and save our planet’s pollinators. To be presented for the first time at COP28 in Dubai this December, new global coalition Trillion Bees is inviting businesses, organisations and industry leaders to join its mission and ‘Bee The Change’ to help protect the world’s pollinators.  They may be small, but bees have a big impact. In fact, bees and other pollinators are the guardians of the ecosystems on which all life on earth depends. A planet filled with nature and thriving biodiversity can even help mitigate the climate crisis. Trillion Bees is a new global coalition and unified force of science-led individuals, businesses and organisations committed to promoting Bee The Change – the name of a more

    KIB Announces Winners of the fourth ‘Surprises for Every Season' prize draw for Visa Cardholders

    Kuwait, 30 November 2023: Kuwait International Bank (KIB) recently conducted the fourth draw of its ‘Surprises for Every Season’ campaign designed for its Visa cardholders. The Bank revealed the 31 winners of three different spectacular prizes designated for the October campaign period. Meshaal Abdulatif Ammash received two all-inclusive tickets for the Formula 1 Abu Dhabi Grand Prix, while another eight winners, Hussain Maad, Dheyaa Khaled Almazyad, Latifah Ayesh Hajji, Abdullah Faisal Alsultan, Mohammad Ezzat Ibrahim, Mohammad Falah Al Rasheedi, Saad Fahad Alshammari, and Mohammad Ahmad Almusallam, were awarded the new iPhone 15 Pro. In addition, 22 winners were each gifted a cash prize of KD 150. The lucky customers included Marzouq Qeaid Alotaibi, Osman Hassan Ismail, Ahmad Yousef Khader, Abdullah F M Abdullah, Ibrahim F more

    Katch International Launches a Dedicated Department Focused on Sustainability and Brand Strategy in Partnership with Blurred

    In a series of new initiatives, the Dubai-based PR agency moves to ensure it is making a positive impact on wider society  Katch and Blurred - a UK-based sustainability, management and communications consultancy, with deep expertise in climate and biodiversity issues - have formed a strategic partnership to help companies in the Middle East create more impact and share that impact through powerful storytelling Katch has previously worked on some exciting sustainability campaigns including with such esteemed clients as Rove Hotels, Address Hotels & Resorts, The H Dubai, W Abu Dhabi – Yas Island, and much more  Dubai, UAE (November 2023): Katch International, a PR agency that has been doing things its own unique way since its creation in 2011, is proud to announce the launch of its new department focused on more

    Al Meera Launches “National Product Week” and the National Day Campaign "I Love Qatar” that Rewards Customers with 250 Valuable Prizes

    Doha, Qatar - 30, November 2023: In collaboration with the Ministry of Commerce and Industry, Al Meera is delighted to announce the launch of the 'National Product Week' initiative, under the slogan 'Together, We Support the National Product. 'This initiative will run from November 29 to December 6, 2023, showcasing Al Meera's commitment to supporting national products. Additionally, Al Meera will continue its support through the National Day campaign under the slogan 'I Love Qatar.' The campaign offers Meera Rewards members exciting prizes when shopping at any Al Meera branch nationwide or through Al Meera Online ( until January 3, 2024. With the aim of continuing to support national products and local farms, the initiative was officially launched at Rawdat Al Hamama branch, in the more

    ‘We Are Now at the Dawn of a New Age for Intelligence,' Says Global AI Expert at Qatar Foundation's 2023 Wise Summit

    The summit showcased diverse perspectives of key thought leaders, innovators, and young changemakers on AI in education Doha, Qatar – 29 November 2023: The world is at a tipping point for human evolution because machines are about to profoundly change the way we live, the way we work, and even experience what it means to be human, said Nina Schick, one of the first Generative AI experts and Founder of Tamang Ventures Limited, at WISE 11, the 11th edition of Qatar Foundation’s WISE Summit, that concluded today. Referring to the exponential rate at which the capabilities of AI systems are advancing, Shick emphasized, “In this new age of intelligence – a revolution – the default is going to be a symbiotic relationship with machine and human working together.” In the masterclass more

    Zero-Emission Vehicle Innovator Wisdom Motor Brings the GCC's First 12-Meter Hydrogen City Bus in New Cooperation to Support the UAE's Green Mobility Agenda

    Cooperation adds the UAE and GCC region to the company’s global footprint ABU DHABI, November 29, 2023 – As the world focuses on climate change in the coming weeks, Wisdom Motor, a technology company that designs and develops zero-emission commercial vehicles, today announced a cooperation with the Integrated Transport Centre (ITC) of the Department of Municipalities and Transport (DMT) in Abu Dhabi, to provide new green mobility solutions to the Emirate through its distributor EGME (part of the Al Fahim Group).  Under this significant cooperation, Wisdom Motor joins other international brands to support ITC’s Green Bus Assessment Programme contributing towards the region’s proactive efforts to embrace sustainability.  Mr. Cliff Zhang, Chairman of the board of directors of Wisdom Motor and more

    Dubai Free Zones Council Enhances the Attraction of National Talent and Streamlining the Investor's Journey

    Ahmed bin Saeed: Dubai Free zones are an essential enabler of Emirati talents, a driver for Dubai’s growth, and a booster of its economy. Dubai, UAE: 29 November 2023 -  His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Free Zones (DFZ) Council, recently chaired the Council’s 25th meeting, during which he highlighted the importance of Dubai’s free zones as an enabler of Emirati talents, a driver of Dubai’s diversification and agility, and a catalyst of its economic agenda. His Highness Sheikh Ahmed said: “The Dubai Economic Agenda (D33) mandates creating new economic opportunities and activating the role of Emirati talent. It is a strategic goal through which the Dubai free zones contribute to supporting economic diversification, attracting direct investment and international more

    BlackBerry Quarterly Global Threat Intelligence Report Shows 70 Percent Increase in Novel Malware Attacks

    High-stakes financial services and healthcare sectors the top targeted industries   Dubai, UAE – November 29, 2023 – BlackBerry Limited (NYSE: BB; TSX: BB) today released its latest Quarterly Global Threat Intelligence Report, revealing a 70 percent increase in new malware encountered by BlackBerry’s AI-powered cybersecurity solutions. At 26 cyberattacks per minute, this highlights a diversification of tools and attacks by threat actors and as they target high-stakes or financially lucrative industries.    “Malicious actors are working harder than ever to expand their range and volume of cyberattacks,” said Ismael Valenzuela, Vice President of Threat Research and Intelligence, BlackBerry. “The intensifying number of novel attacks targeting nations and industries demonstrates more

    Food Consumption in the GCC to Grow at a Steady Pace, says Alpen Capital

    Dubai – November 28th 2023: UAE-based investment banking advisory firm, Alpen Capital, projects the food consumption in the region to grow at a CAGR of 2.8% to reach 56.2 million MT by 2027 in its latest GCC Food Industry report. The vegetables food category is expected to surpass the growth rates of the meat and cereals categories in the coming years.    Released on Tuesday, November 28th, the report provides a comprehensive overview of the GCC food sector and outlines the sector’s recent trends, growth drivers and challenges. It also profiles some of the renowned food companies in the region.   The report was launched over a webinar followed by a panel discussion featuring Sanjay Bhatia, Managing Director, Alpen Capital; Garrett Walsh, Chief Executive Officer, Mezzan Holding Co. and Nasser Talib more

    KIB All Set to Organize PayTally Show, Offering Customers the Best Financing Deals

    Kuwait, 27 November 2023: Kuwait International Bank (KIB) held a press conference to announce the upcoming PayTally Show, which will be held at The Arena Kuwait – 360 Mall from December 7 to December 9, 2023. This special event will bring together all of the Bank's partners under the umbrella of the PayTally program, including commercial and service institutions. The exhibition aims to assist both KIB customers and non-customers in obtaining consumer products and services that they desire, by showcasing the strongest financing deals the Bank has to offer. This initiative is in line with KIB's ongoing commitment to providing the best banking experience for its customers.  Commenting on the event, Othman Tawfeqe, Retail Banking Department General Manager at KIB, said: “At KIB, we always strive to achieve more

    Ooredoo Kuwait Redefines Urban Living with Smart City Initiative

    Kuwait City, November 26th, 2023: In an ambitious stride towards sustainability and the enhancement of the community, Ooredoo Kuwait, the pioneering telecommunications provider, reinforces its standing in the tech and telecom landscape.  The company proudly developed its groundbreaking Smart poles as part of smart City solution at the iconic Souq Al-Mubarakiya, a central hub in Kuwait City.  This forward-thinking initiative not only promises to redefine the visitor experience but also aims to create a greener and more sustainable urban environment. With the implementation of this cutting-edge Smart City solution, visitors to Mubarakiya can now enjoy seamless high-speed Wi-Fi connectivity throughout the area, enabling them to stay connected with their loved ones and access vital information with utmost ease.  Beyond more

    Strategy& Middle East Commits to Qatar's Future Growth by Expanding its Senior Presence in Doha

    Doha, Qatar, 27 November 2023: Strategy& Middle East, a member of the PwC network, has expanded its senior presence in Qatar as part of its plans to support the nation’s flourishing business community and contribute to the Qatar National Vision 2030.  Strategy& Middle East aims to support a growing portfolio of work in the country, with plans to further expand its operational capabilities and invest in attracting and developing exceptional talent in Qatar over the coming years.    The firm first established its Doha office in 2010. It has been actively engaged in delivering a variety of strategy consulting and advisory services in Qatar, catering to both public and private sector clients. Drawing on its deep expertise, the firm closely collaborates with organizations across numerous industries. These more

    ADMAF and Pearl Initiative holds Youth Impact Lab to Empower UAE's Youth on ESG Challenges

    The two-day competition brought together seven teams from universities across the UAE to champion environmental, social and governance challenges UAE graduates who established entrepreneurial projects have increased by 54 per cent over the past three years according to the UAE Ministry of Economy Dubai, 27 November 2023: The Pearl Initiative, a business-led non-profit organisation focused on promoting corporate accountability in the Gulf Region, has partnered with the Abu Dhabi Music & Arts Foundation (ADMAF) to host the 'Youth Impact Lab', a two-day competition with the aim of empowering UAE’s youth to seek solutions to pressing ESG (environmental, social, and governance) issues.  The Youth Impact Lab brought together seven teams from prominent universities across the UAE to build innovative solutions to more

    Mahzooz Saturday Millions' 156th draws results announced: 119,408 winners were awarded AED 1,775,295

    Lucky numbers were 19,21,24,29,36 Draws awarded AED 300,000 to three raffle draw winners.  26 November 2023, Dubai, UAE: On the heels of the latest win of AED 20,000,000 by a single participant from the UAE, Mahzooz Saturday Millions, the UAE’s leading weekly draw with the biggest and most frequent pay-outs, stood true to its promise of maximizing winnability at the 156th draws and awarded 119,408 winners a total prize of AED 1,775,295. While the top prize of AED 20,000,000 went unclaimed this week, 119,408 winners scored victory as follows: 2nd prize: 23 winners matched 4 of 5 numbers and shared the second prize of AED 150,000, earning AED 6,521 each.  3rd prize: 1,275 winners matched 3 out of 5 numbers and shared the second prize of AED 150,000, earning AED 117 each.  4th prize: 19,492 more

    Record-Breaker Max Verstappen and Other Historic F1 Moments from 2023 Season

    Abu Dhabi, UAE, 25 November 2023: The Formula 1 2023 season was a milestone year for the sport as new records were created and records were broken, as drivers crossed the penultimate chequered flag at Las Vegas before gearing up for this weekend’s FORMULA 1 ETIHAD AIRWAYS ABU DHABI GRAND PRIX.   From groundbreaking races to drivers rewriting the sport's 75-year history, here are some key highlights from what has been a promising and historic season.   Max Verstappen’s Domination: It’s no secret that Max Verstappen has had another great season as he makes his way down to Abu Dhabi to be officially crowned as the 2023 champion, bringing with him his mountain of accolades. Not only does the 26-year-old driver have the most consecutive race wins in a season but has also clinched the title for the most more

    KIB's Raed Bukhamseen honored with “Kuwaiti Visionary CEO - Development and Growth Driver” Award

    Kuwait, 25 November 2023: The 2023 Islamic Finance Awards, presented by World Finance, has bestowed Raed Jawad Bukhamseen, Vice Chairman and CEO of Kuwait International Bank (KIB), with the esteemed “Kuwaiti Visionary CEO - Development & Growth Driver” award for yet another year. The recognition comes as a testament to Bukhamseen's remarkable leadership and unwavering commitment to driving KIB's development and growth. Distinguishably among the honorees this year came Bukhamseen, chosen for his visionary guidance, under which KIB has established a clear strategy and vision for the future, demonstrating outstanding corporate communication and management across all sectors. According to World Finance, Bukhamseen's exceptional leadership has driven year-on-year growth and outstanding financial performance for more

    KIB Partners with Marafi Villas to help fulfill Customers' Renovation Dreams

    Kuwait, 23 November 2023: Kuwait International Bank (KIB) announced a strategic partnership agreement with Marafi Villas, the number one Italian kitchen company manufacturer and high quality home solutions supplier. With flexible and exclusive financing deals, the new collaboration will be a significant step forward in making home improvement more financially accessible, fitting the needs of customers’ lifestyles. Commenting on the agreement, Abdulaziz Al-Shammari, Head of the Central Sales Unit - Retail at KIB, said: “We are thrilled to announce a strategic partnership with Marafi Villas, a prominent player in the home solutions industry. This partnership will provide all our customers with a unique opportunity to access both top-notch kitchen solutions and the financial support they need to help them turn their kitchen more

    IDB Achieves Remarkable Emiratization with 30% Emirati Workforce within Less Than a Year of UAE Branch Operations

    The Bank Strives to Increase Emirati Representation Beyond Mandatory Operational Requirements as Operations Expand Ziad Khalaf:  Emiratization is not merely a compliance measure for IDB, it is the bank’s way of contributing to the sustainable economic growth and empowerment of the UAE's workforce Dubai, United Arab Emirates – Thursday 23 November 2023: The International Development Bank (IDB), the first Iraqi private bank operating in the United Arab Emirates, announces its commitment to Emiratization as it successfully achieved the goal of hiring 30% Emiratis within less than a year of commencing operations in the UAE. Furthermore, the bank affirms its willingness to increase the percentage of Emirati employees as its operations expand, surpassing the mandatory operational requirements.  In addition more

    Raha Closes Round of Pre-Series A Funding at USD 7 million, Led by Soor Capital and eWTP Arabia Capital

    Reaching its impressive funding milestone in July, the Group has now positioned itself as one of the region’s most ambitious logistics tech companies, with a key focus on automation and robotics Kuwait, 22nd November 2023: Raha, Kuwait’s fast-growing logistics tech company, recently announced the successful completion of its pre-Series A funding round. Led by Soor Capital and PIF-backed Private Equity Fund, eWTP Arabia Capital, this latest investment brings up the total raised by the ambitious tech start-up to USD 14 million. Raha’s initial round of seed funding had raised an impressive capital of USD 6.7 million, led by KSA’s Aujan Enterprises and Kuwait’s Nox Management, as well as London-headquartered VC, Cedar Mundi Ventures. Since launching in 2022, Raha – – has quickly grown to more

    Other Top Stories from Banking and Investments
    Embention and Eanan Forge a Strategic Alliance for UAE's Unmanned Aircraft Growth under a Joint Venture with an initial investment of USD 5 million

    This Joint Venture intends to manufacture a minimum of 3,000 Veronte Autopilots per annum. Dubai, UAE – November 21, 2023: In a significant milestone for technological innovation and sustainable air mobility growth in the UAE, Embention, a global leader in avionics with the highest aircraft mobility standards, and EANAN, a leading Dubai-based Urban Air Mobility company, have signed an unprecedented MOU agreement within the framework of the Dubai Airshow 2023.  The signing ceremony, which took place on Thursday, 16th November at the prestigious Dubai Airshow 2023, marked the more

    Savoye Acquires a Major Contract in KSA to Support CJ Logistics and iHerb with World-class Automation Solutions

    Savoye was selected as the automation and technology partner to fully automate the e-commerce Global Distribution Center of iHerb in KSA, first of its kind in the region November 21, 2023:  Savoye, a leading global warehouse automation integrator and software publisher in the Middle East, partnered with CJ Logistics, a 3PL services company operating for iHerb, the leading global eCommerce retailer for health and wellness, in Riyadh, Kingdom of Saudi Arabia (KSA), to deliver world-class automation solutions for its e-commerce Global Distribution Center (GDC). The strategic more

    EGA begins Construction of UAE's Largest Aluminium Recycling Plant

    United Arab Emirates, 21 November 2023: Emirates Global Aluminium, the largest ‘premium aluminium’ producer in the world, today announced the start of construction of the United Arab Emirates’ largest aluminium recycling plant. The 170 thousand tonnes per year facility is being built next to EGA’s existing smelter in Al Taweelah. The plant will process post-consumer aluminium scrap such as used window frames, as well as pre-consumer aluminium scrap from extrusion production, into low-carbon, high quality premium aluminium billets. The new facility will supply more

    Chestertons Global Awards Winners of first Chestertons Polo in the Park Dubai

    Dubai, UAE, 15 November 2023 ... Chestertons, one of the world's oldest and leading real estate advisory services, has awarded the winners of the first ever Chestertons Polo in the Park Dubai.    The prizegiving took place at a ceremony attended by His Excellency Saeed Harib, Secretary General of the Dubai Sports Council; Amr Zedan, Chairman of the Saudi Polo Federation; Ali Albwardy, Founder of Desert Palm Polo Club and Salah Mussa, Chairman of Chestertons Global.   The polo event saw Boadicea The Victorious Team Riyadh living up to their name with a win over more

    Lenovo Group: Second Quarter Results 2023/24

    Lenovo sees signs of recovery across technology sector - maintains majority market share in Middle East, Africa and Gulf and further accelerates AI leadership    November 20, 2023– Lenovo Group Limited (HKSE: 992) (ADR: LNVGY), together with its subsidiaries (‘the Group”), today announced second quarter results reporting Group revenue of US$14.4 billion and net income of US$273 million on a non-Hong Kong Financial Reporting Standards (HKFRS)[1] basis. Gross profit margin improved year-on-year to 17.5%, a record high for a second quarter. The Group’s more

    SEDCO Wins Leading Queue Management Provider UAE 2023 Award Coinciding with 40th-Anniversary Celebrations

    Dubai – November 20, 2023: SEDCO, a global leader in providing customer experience and digital branch transformation solutions, has been named the Leading Queue Management Solutions Provider in the United Arab Emirates at the International Business Magazine (IBM) Awards 2023. This achievement coincides with the company’s 40th anniversary, signifying four decades of innovative solutions and unwavering dedication to shaping the future of customer experiences. SEDCO's exemplary approach to customer experience and innovation have been pivotal in securing its win.  One of more

    QNET's Parwaz Renews Commitment to Health as Platinum Sponsor of Indus Hospital

    Dubai – November 20, 2023: QNET, a global lifestyle and wellness-focused direct-selling company, in collaboration with its esteemed Pakistani agency, Parwaz, proudly reaffirms its commitment to supporting crucial healthcare initiatives and community welfare in Pakistan through its contributions to the Indus Hospital and Health Network.  As a Platinum Sponsor, QNET's support for the Indus Hospital underscores its belief in the transformative power of healthcare to uplift lives. This collaboration aims to fortify the healthcare infrastructure and accessibility, aligning with more

    QNET Celebrates World Children's Day: Nurturing Dreams and Empowering Hope for the Future

    Dubai – November 20, 2023: November 20th marks a significant day dedicated to children – World Children's Day, serving as a powerful reminder of the rights and aspirations of our youth worldwide. QNET, a global lifestyle and wellness brand, has committed to ensuring the well-being of these young minds by translating its dedication into tangible actions. QNET's initiatives in the MENA region reflect a steadfast commitment to enhancing the lives of children.  QNET's commitment to empowering and protecting children's rights stems from the belief that more

    National Bank of Fujairah Celebrates Successful 7th NBF Fujairah Run despite Inclement Weather Conditions

    Almost 3,000 runners took part with cash prizes totalling AED 95,000 18 November 2023: National Bank of Fujairah (NBF) saw close to 3,000 runners take part in its seventh annual run through the Emirate of Fujairah on Saturday 18th November, with Sheikh Abdullah bin Hamad bin Saif al-Sharqi, President of the UAE Federation for Body Building and Physical Fitness, presenting trophies and medals to the top runners in each of six categories. Designed to raise awareness of the health benefits of a more active lifestyle, this year’s run saw strong participation from a wide range of more

    Challenge Group Appoints David Canavan as Group COO

    Challenge Group, an international air cargo conglomerate offering tailored end-to-end logistics solutions for complex verticals, is pleased to announce the appointment of David Canavan as Chief Operating Officer (COO). In his new role, Canavan will be responsible for leading, planning, directing, coordinating, aligning and overseeing all Group Operations, bringing his extensive experience and expertise to drive operational excellence and contribute to the company's overall expansion plan and fleet growth.   Canavan comes to Challenge Group with a proven track record of more than 30 more

    EDGE Signs MoU with Calidus to Integrate Smart Weapons onto B-250

    • EDGE and Calidus will collaborate on the integration of a range of UAE-made smart weapons onto the locally-produced B-250 light attack aircraft   Abu Dhabi, UAE: 17 November, 2023 – EDGE, one of the world's leading advanced technology and defence groups, and Calidus, a UAE-based provider of next-generation aeronautical and land systems, signed an MoU at Dubai Airshow to integrate EDGE precision-guided munition (PGM) and guided-glide weapon (GGW) solutions onto the B-250 light attack aircraft, and other Calidus platforms.   Hamad Al Marar, President of more

    CBDCs in Dubai & Their Impact on Foreign Currency Exchange

    The financial landscape is experiencing profound disruption with the advent of Central Bank Digital Currencies (CBDC). Dubai's pioneering spirit led it to make history as the first in the region to adopt digital currency, but what does it mean for the city, and how will it impact currency exchange? Let’s dive in. Dubai Is Leaving Its Footprint in the World of Central Bank Digital Currencies Renowned for its inventive spirit, Dubai is stepping up in the Central Bank Digital Currency tech space and actively turning ideas into reality. Working alongside Dubai’s financial more

    Singer Reimagined And Perpétuel Gallery, Join Forces To Present The Inaugural Pop-Up Store For The Brand In DIFC Dubai

    On November 16th, 2023, as part of the 6th Edition of Dubai Watch Week, Singer Reimagined and Perpétuel Gallery invites passionate watch enthusiasts worldwide to explore the brand’s entire timepieces collection, highlighting the remarkable Singer 1969 models, which feature the award-winning 60-hour central chronograph and the unique zero reset flyback Timer’s movement.   Founded in 2017 by Marco Borraccino and Rob Dickinson, Singer Reimagined redefined the standards of a chronograph with the introduction of the world's first 60-hour central chrono with peripheral time more

    Philip Morris International Progresses Towards a Smoke-Free Future in GCC markets

    • The company’s newest innovations are being launched across GCC markets including Saudi Arabia, Kuwait and Bahrain  • PMI has appointed over 1,500 scientists, engineers, technicians, and experts who have contributed into research and development for an ever-innovating smoke-free portfolio.      Kuwait City, Kuwait — November 15, 2023 — Philip Morris International (PMI) has continued to take further bold steps of its smoke-free ambitions in the GCC region. The company, currently undergoing a massive transformation to a smoke-free more

    "Dubai Islamic Insurance & Reinsurance Company PJSC 'AMAN' Records Profits of AED 10.7 million as at 30/9/2023

    Aman achieves strong results during Q3-2023 following Board of Directors' strategy. Dubai, UAE, November 15, 2023: The Dubai Islamic Insurance & Reinsurance Company PJSC (AMAN) has announced the achievement of promising financial results during the third quarter of the current year, 2023. AMAN Insurance Company recorded a net profit of AED 10.7 million with an increase of 270% compared to the same period of 2022, which witnessed a loss estimated at AED 6.3 million.  “We are looking forward to achieving better results in coming days,” the company more

    2023 James Dyson Award Global Winners Announced

    · Poland’s Piotr Tłuszcz wins a special humanitarian prize for The Life Chariot, an off-road trailer ambulance for universal towing, that has been used by medics in Ukraine  · Korea’s first global winners secure prize for The Golden Capsule, a hands-free intravenous (IV) device for use in disaster zones  · Hong Kong SAR’s first global winners clinch sustainability prize for their invention of E-COATING, a sustainable exterior wall coating with a high cooling effect, reducing the environmental costs of air more

    Deyaar Delivers Profit of AED 237.5 million for YTD Sep' 2023, up 130% YOY.

    Dubai, UAE – 14 November 2023: Deyaar Development PJSC ("Deyaar"), one of the leading real estate developers and service providers in Dubai, the United Arab Emirates (UAE), has reported a significant increase in its profits for the first nine months of 2023, compared to the corresponding period in the previous year. The significant growth is underpinned by robust property sales and growth in the performance of recurring revenue businesses.   Key Financial Highlights:   • Profit for the period of AED 237.5 million (AED 103.3 million for the same more

    Al Ain Allied Investment Unveils Comprehensive E-Commerce Solutions

    Al Ain Allied specialises in end-to-end e-commerce support, from creating seller and ads accounts to implementing strategic digital marketing activities Dubai, United Arab Emirates, November 2023: Al Ain Allied Investment, a pioneer in the digital marketing and online seller accounts consulting space, proudly announces its commitment to revolutionise e-commerce businesses through tailored strategies and proven results. Established in 2017, Al Ain Allied specialises in end-to-end e-commerce support, from creating seller and ads accounts to implementing strategic digital marketing more

    Polygood® and Danube Group Join Forces for Middle East Expansion in the Year of Sustainability

    DUBAI, November 2, 2023:  The Good Plastic Company, the largest producer in sustainable materials, is proud to announce the exclusive distribution of its revolutionary surface material, Polygood®, into the Middle East with the successful conglomerate Danube Group.  Danube Group, a Dubai-based diversified business conglomerate, with its inception in 1993 has established itself as a major player in various sectors including building materials, home décor, hospitality, sanitary solutions, and real estate development to name a few. With a significant presence in the Middle East more

    APCO Launches Adaptive Intelligence, Ai Advisory Offering to Help Companies Navigate Business Transformation

    Dubai – 7 November 2023: As businesses around the globe act to understand and capitalize on the full potential of artificial intelligence, APCO Worldwide announced today that it is launching a new form of adaptive intelligence called Margy—an advanced form of AI that dynamically brings the collective wisdom and history of APCO’s powerful team to its client strategy and work, and learns from the firm’s top experts to provide better insights over time—as well as a comprehensive AI advisory offering to help clients navigate this incredible moment of more

    Presight Announces Strong Performance as it Crosses AED 1 billion in Revenue for first three Quarters of FY2023

    • Q3 FY23 revenue up 11.8% to AED 553.1M compared to AED 494.9M in Q3 FY22 • Q3 FY23 net profit increased 17.5% compared to Q3 FY22, reaching AED 130.5M  • Revenue for the first three quarters of FY23 passed AED 1 billion   Abu Dhabi, UAE 7th November 2023 – Presight AI Holding PLC (“Presight” or the “Company”), (ADX: PRESIGHT) today announced strong financial performance for Q3 FY2023 and year-to-date Q3 FY2023, continuing the company’s robust growth trajectory and potential as highlighted at the time of it’s more

    Fifth Auction of Islamic Treasury Sukuks Continues to Achieve Exceptional Results

    • AED1.1 billion Islamic Treasury Sukuks were issued in the fifth auction, as part of the Islamic Treasury Sukuks issuance program for 2023. • Bids worth AED5.77 billion were received. • Oversubscription by 5.2 times.   UAE: November 07, 2023 – The United Arab Emirates, represented by the Ministry of Finance (MoF) as the issuer, in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and paying agent, has announced the results of the fifth auction of the Islamic Treasury Sukuks (T-Sukuks), which is part of the T-Sukuks issuance program more

    EDGE Group Acquires a Majority Stake in Leading Autonomous Air Systems Developer ANAVIA

     52% shareholding in the Switzerland-based VTOL systems manufacturer will see EDGE become a market leader in the advanced unmanned helicopter domain   United Arab Emirates - 6 November, 2023: The UAE’s EDGE Group, one of the world’s leading advanced technology and defence groups, has announced the acquisition of a 52% majority shareholding in ANAVIA, a Switzerland-based company that specialises in the design, development, and manufacturing of versatile vertical take-off & landing (VTOL) systems of up to 750 kilograms, and their associated capabilities. The more

    LG Announces Third-Quarter 2023 Financial Results

    High Performance, Strong Profitability Reflect Progress in Advancing Business Portfolio, Accelerating B2B Business and Procuring New Growth Engines 02 November, 2023 — LG Electronics Inc. (LG) today announced third-quarter 2023 consolidated revenue of KRW 20.7 trillion and operating profit of KRW 996.7 billion, both the second highest third-quarter figures in the company’s history. The noteworthy performance was driven by both the company’s core home appliance business and vehicle solutions, one of its future growth engines. Home appliances more than doubled its operating more

    Standard Chartered and DIFC Innovation Hub Award Top Three UAE Women Entrepreneurs at the Women in Tech Accelerator Programme

    Standard Chartered awards Intella, The Waste Lab and Wellx a total of USD 100,000 in equity-free seed capital  Dubai, UAE; 2 November 2023: Standard Chartered’s fifth cohort of the Women in Tech accelerator programme, launched in partnership with DIFC Innovation Hub, has awarded a total of USD 100,000 in equity-free seed capital to the top three female-led tech startups in the UAE. The first-place winner, Nour Taher, Co-founder and CEO at Intella, whose company bridges the gap between global AI advancements and the Arabic speaking world by building and fine-tuning machine more

    Union Coop Signs Memorandum of Understanding with Smile Train

    The Cooperative and Smile Train have signed similar agreements previously as well  Dubai, UAE:  Union Coop has entered into a Memorandum of Understanding (MoU) with Smile Train International, reinforcing their partnership through the exchange of expertise and the utilization of available resources for mutual benefit. The collaboration also includes joint promotion and marketing of projects and initiatives, with a focus on delivering high-quality and effective services. The agreement was formally signed by Eng. Abdulla Mohammad Rafie Al Dallal, Managing Director of Union Coop, more

    DAE Announces Financial Results for the Nine Months ended September 30, 2023

    Revenue increased by 16% to US$989 million   Dubai, U.A.E., 1 November 2023 – Dubai Aerospace Enterprise (DAE) Ltd today reported its financial results for the nine months ended September 30, 2023. The consolidated financial statements can be found here.    Selected Financial Highlights:   Nine Months Ended US$ millions Sep 30, 2023 Sep 30, 2022 Total Revenue 989.2 853.9 Profit for the period before tax and exceptional items (1) 207.5 200.6 Operating Cash Flow 928.9 956.6     Adjusted Pre-Tax Profit Margin (1) 21.0% more

    Dubai Islamic Bank 3rd Quarter 2023 Group Financial Results

     Robust rise in total income by 47% YoY to AED 14.5 billion.  Net profit of AED 4.8 billion, strong growth of 18% YoY.  Balance sheet crossing a new milestone reaching AED 313 billion, up 9% YTD.  Asset quality improves to 6.0% down 50 bps YTD, beating guidance.   Continued improvement in RoTE registering 18.4%, up 140 bps YTD.    Dubai, October 31, 2023   Dubai Islamic Bank (DFM: DIB), the largest Islamic bank in the UAE, today announced its results for the period ending September 30, 2023.   9M 2023 more

    KEZAD Commences AED 330m Primary Infrastructure Development for Food and Auto-Hubs

    Developments expand KEZAD Al Ma’mourah’s footprint along E311 between Abu Dhabi and Dubai Abu Dhabi, 30 October, 2023: Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones in the UAE, today announced that infrastructure work at a cost of approximately AED 330 million on the development of Abu Dhabi Food Hub, Global Auto Hub - Abu Dhabi and other projects has already started within its Area B1 in KEZAD Al Ma’mourah. These investments are part of AD Ports Group’s 5-year organic capex program of AED more

    Online Trading Academy Enhances Community Engagement with a Special Mastermind Gathering

    Dubai - October 30, 2023: Online Trading Academy (OTA) Middle East and North Africa, a leader in investing and trading education, has recently organized a gathering event bringing together members of its Mastermind Community at the Dubai Knowledge Park Conference Centre. The congregation, hosted by the academy's local team, helped the OTA to enhance the engagement of its community members and strengthen support and collaboration within the group, reinforcing its since inception.  Commenting on the success of the event, Mr. Tariq Abu Hantash, General Manager of OTA MENA, said, more

    Mashreq's Net Profit surges 122% to AED 5.8 Billion in the First 9 Months of 2023 Driven by Robust Income Growth and Low Risk Cost

    Dubai, UAE; 26th October 2023: Mashreq announces its financial results for 9M 2023 continuing its strong sustainable growth trajectory and enhancing shareholder value with an Earnings per Share of AED 28.75.   1. Operating Income & Net Profit • The increase in operating income and net profit is primarily attributed to a significant 82% increase in net interest income. This growth is a result of several factors, including the expansion of our balance sheet, healthy client margins, and the prevailing high-interest rate environment. Additionally, our non-interest income more

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