CFI posts record first-half trading volume of $5.34 trillion
Dubai, UAE -- CFI Financial Group said it recorded its strongest first half on record, with trading volume reaching $5.34...
Business
Business
Awqaf Dubai investment portfolio market value rises to $402 million
Dubai, UAE -- Dubai's Endowment and Minors' Trust Foundation (Awqaf Dubai) said on Monday the market value of its securities...
- The portfolio's cost value increased 16.6 percent year-on-year to AED1.398 billion, while its market value rose 5.5 percent, or AED76.5 million.
- Awqaf Dubai said it made new investments worth AED285.1 million during the first six months of the year, up 150.7 percent from the same period a year earlier.
Business
Sanad posts record revenue
Growth driven by global demand for services.
- Company expanded engine portfolio to 17 assets and increased annual workforce 44 percent as it broadened aerospace capabilities.
- Sanad invested over $218 million in infrastructure, including new repair and testing facilities, to support long-term aviation growth.
Business
Saudi public investment funds assets rise 20 percent in Q1 to $61 billion
Dubai, UAE -- Assets of Saudi Arabia's public investment funds rose 20 percent year-on-year to SAR231.7 billion ($61.8 billion) in...
- Assets of local funds increased 17 percent from a year earlier to SAR192.1 billion, accounting for 83 percent of total public investment fund assets, Argaam reported.
- Assets of foreign funds, which represented the remaining 17 percent of total assets, rose 35 percent year-on-year to about SAR39.6 billion, according to the report.
Economy
UAE non-oil trade reaches record $527 billion in H1, says Al Zeyoudi
The milestone reflected the success of the UAE's strategy to build a diversified, competitive and open economy while strengthening its...
- He said the performance demonstrated continued international confidence in the UAE economy despite global headwinds and regional geopolitical tensions.
- Al Zeyoudi attributed the growth to the country's expanding trade relationships, supported by its Comprehensive Economic Partnership Agreement (CEPA) programme.
Business
Abu Dhabi real estate transactions more than double in H1
Data released by the Abu Dhabi Real Estate Centre (ADREC) showed total real estate transactions reached $31.9 billion in the...
- Foreign investment jumped 309 percent while new investment zones and projects underscored growing global confidence in Abu Dhabi property.
- The number of nationalities represented by non-resident investors rose to 116 from 82 a year earlier.
Saudi Ports Authority signs $266.6 million logistics agreements
Dubai, UAE -- Saudi Ports Authority (Mawani) signed seven agreements worth 1 billion riyals ($266.6 million) to establish logistics centres...
- The agreements were signed during the inauguration of the Truck Marshaling Project.
- They include projects to develop integrated logistics, warehousing, storage, distribution and re-export facilities.
Business
PIF-backed SURJ launches venue venture radia with Live Nation, OVG
Dubai, UAE -- SURJ Sports Investment Co, owned by Saudi Arabia's Public Investment Fund (PIF), has launched a joint venture...
- PIF-owned SURJ formed radia with Live Nation and Oak View Group to manage Saudi sports venues and operations nationwide.
- Xavier Campbell was appointed chief executive officer and will lead the company's market launch and long-term growth strategy.
Business
EDGE to acquire 100% stake in Brazilian firm AKAER
Dubai, UAE -- UAE defense and advanced technology group EDGE has agreed to acquire a 100 percent stake in Brazilian...
- EDGE said the acquisition would accelerate industrialization timelines for key unmanned aerial vehicle (UAV) programs.
- Founded in 1992 and headquartered in São José dos Campos, AKAER has delivered more than 10 million engineering hours across military and commercial aerospace programs.
Business
Bank of Sharjah profit up 39%
Bank's total assets grow 10% to $14.4 billion.
- Net interest income climbed 45 percent to AED465 million ($126.6 million), supported by growth across the bank's core businesses.
- The lender said its total capital ratio strengthened by 463 basis points to 18.7 percent, while its cost-to-income ratio remained at 29%, reflecting continued cost discipline.
Business
flydubai doubles daily Bangkok flights amid strong demand
Dubai, UAE -- Dubai-based carrier flydubai will introduce a second daily flight to Bangkok from July 18, doubling its daily...
- The carrier said the expanded schedule would provide passengers with greater flexibility and strengthen Dubai's position as a global aviation hub.
- The airline has also recently launched services to Benghazi in Libya and plans to begin flights to Aleppo in Syria on July 20 and Pokhara in Nepal on Sept. 23.
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FAB profit edges higher
Business
UAB H1 profit climbs
Business
Latest News
Musk kicks Kanye West off Twitter for ‘incitement to violence’
West has made a series of anti-Semitic comments recently, as the one-time titan of fashion and music appears to have...
Oman sees hospitality industry revenue fall 3.5%
The National Centre for Statistics and Information says domestic guest have supported the Oman's hotels.
Proof of Covid-19 vaccination, PCR test needed to enter Expo Dubai
Expo 2020 visitors will need a coronavirus vaccination or a negative PCR test to enter, organisers in Dubai has said....
Cyberattack hits hundreds of US businesses
A US IT company urges customers to shut down their servers after the attack UN Security Council members recently warned...
Saudi Arabia to generate $150 billion in investments from its new transport policy
The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private...
Sanad posts record revenue
Business
Saudi public investment funds assets rise 20 percent in Q1 to $61 billion
Dubai, UAE -- Assets of Saudi Arabia's public investment funds rose 20 percent year-on-year to SAR231.7 billion ($61.8 billion) in...
Business
UAE non-oil trade reaches record $527 billion in H1, says Al Zeyoudi
The milestone reflected the success of the UAE's strategy to build a diversified, competitive and open economy while strengthening its...
Economy
Abu Dhabi real estate transactions more than double in H1
Data released by the Abu Dhabi Real Estate Centre (ADREC) showed total real estate transactions reached $31.9 billion in the...
Business
Most Read
Business
PIF-backed SURJ launches venue venture radia with Live Nation, OVG
Dubai, UAE -- SURJ Sports Investment Co, owned by Saudi Arabia's Public Investment Fund (PIF), has launched a joint venture...
- PIF-owned SURJ formed radia with Live Nation and Oak View Group to manage Saudi sports venues and operations nationwide.
- Xavier Campbell was appointed chief executive officer and will lead the company's market launch and long-term growth strategy.
Business
EDGE to acquire 100% stake in Brazilian firm AKAER
Dubai, UAE -- UAE defense and advanced technology group EDGE has agreed to acquire a 100 percent stake in Brazilian...
- EDGE said the acquisition would accelerate industrialization timelines for key unmanned aerial vehicle (UAV) programs.
- Founded in 1992 and headquartered in São José dos Campos, AKAER has delivered more than 10 million engineering hours across military and commercial aerospace programs.
Business
Bank of Sharjah profit up 39%
Bank's total assets grow 10% to $14.4 billion.
- Net interest income climbed 45 percent to AED465 million ($126.6 million), supported by growth across the bank's core businesses.
- The lender said its total capital ratio strengthened by 463 basis points to 18.7 percent, while its cost-to-income ratio remained at 29%, reflecting continued cost discipline.