BusinessLatest Business and Company Updates
Mashreq Bank Posts Strong 2024 Performance with 24% Revenue Growth
Mashreq Bank announced a significant financial performance in 2024, with its net profit reaching AED 9 billion, reflecting a 4 percent increase compared to the previous year. The bank's net profit before tax stood at AED 9.9 billion, marking a 12 percent rise. This robust growth highlights Mashreq’s continued strength
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Kuwait Finance House Divests Sharjah Islamic Bank Stake for $351 Million
Kuwait Finance House has completed the sale of its entire stake in Sharjah Islamic Bank, fetching $351 million. This divestment marks a significant shift in the bank’s investment strategy, reflecting a broader trend of strategic asset reallocation in the Gulf
Primrose Capital Secures ADGM Nod to Tap Gulf Family Offices
Primrose Capital Management has obtained in‑principle approval from the Financial Services Regulatory Authority of Abu Dhabi Global Market, positioning itself for full licencing and regional expansion. The firm plans to recruit portfolio‑engineering and client‑coverage specialists in Abu Dhabi and aims
Sharjah Strikes AED5.5bn Real Estate Milestone in May
Sharjah achieved a total real estate trading value of AED 5.5 billion during May 2025, recording 8,415 transactions across the emirate. The total area traded reached 13.2 million square feet, underlining the emirate’s advancing market strength.Investors conducted 1,574 outright sales deals, accounting for
