District cooling leader Tabreed announced a steady climb in revenue for the first quarter of 2024. The UAE-based company reported earnings of AED 468 million, marking a slight increase from AED 464 million during the same period in 2023. While the growth may seem modest, it signifies Tabreed’s continued financial stability and its ability to navigate a dynamic market. This positive performance is underscored by Tabreed’s Earnings […]
Bayanat, a leading provider of artificial intelligence (AI)-powered geospatial solutions listed on the Abu Dhabi Securities Exchange (ADX), kicked off 2024 on a high note. The company announced a strong financial performance for the first quarter (Q1), reporting AED 113 million in revenue. This marks a significant 12% year-over-year increase, solidifying Bayanat’s position in the geospatial solutions market. This impressive growth is attributed to Bayanat’s strategic expansion […]
In a significant move to empower women in business, Etihad Airways and the Abu Dhabi Businesswomen Council (ADBWC) have joined forces to support a staggering 25, 000 women-owned small and medium-sized enterprises (SMEs) operating in the capital. This collaborative effort aims to provide these businesses with greater access to opportunities and resources, fostering their growth and contribution to the UAE’s economy. Through a signed Memorandum of Understanding […]
Outdoor enthusiasts and off-grid adventurers in the Middle East have a new option for clean, portable power. BLUETTI, a global leader in clean energy solutions, recently announced its entry into the Middle Eastern market. The company boasts a strong track record of innovation, with over 535 patents and a presence in over 100 countries. BLUETTI’s arrival in the region signifies a growing trend towards sustainable power solutions […]
Highlights of FY23/24 Results For the financial year ended 31 March 2024, total sales amounted to US$3,814 million – an increase of 5% compared to the prior year Gross profit totalled US$851 million – an increase of 19% EBITA, adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, increased by 56% to US$343 million or 9.0% of sales (compared to 6.0% of sales in FY22/23) […]
The Abu Dhabi Investment Authority (ADIA), the sovereign wealth fund of the United Arab Emirates, has joined a consortium aiming to privatize Malaysia Airports Holdings Berhad (MAHB). The consortium, known as the Gateway Development Alliance, submitted a pre-conditional voluntary offer to acquire all remaining shares in MAHB for a total of $3.9 billion. This move comes as Malaysia seeks to raise capital and potentially improve the […]
In a significant stride towards its environmental goals, Saudi Arabia has launched a Green Financing Framework. This initiative, spearheaded by the Ministry of Finance, aims to propel the nation’s sustainability agenda and achieve net-zero emissions by 2060. The framework aligns with the principles of a circular carbon economy, underscoring Saudi Arabia’s commitment to environmental stewardship and responsible development. The Green Financing Framework serves as a roadmap for […]
Explores Local Development Opportunities HONG KONG SAR – Media OutReach Newswire – 16 May 2024 – XTransfer, World’s Leading & China’s No.1 B2B Cross-Border Trade Payment Platform, was invited to join the Hong Kong SAR delegation to visit the Middle East last week. The visit aimed to engage in discussions with local governments and financial institutions, exploring financial cooperation and development between Hong Kong and the Middle […]
Riyadh, Saudi Arabia – Metric, a global financial intelligence and analytics platform built for small and medium-sized businesses (SMBs), has been backed by the 500 Global program through the Sanabil 500 Mena Seed fund. This support underlines Metric’s commitment to fostering the burgeoning SME sector in Saudi Arabia, and the push towards digitization for businesses. 500 Global, a highly renowned multi-stage venture capital firm with $2.4B in […]
The pursuit of net zero emissions, often framed as a challenge, presents a unique opportunity for the Gulf Cooperation Council (GCC) countries to diversify their economies and emerge as leaders in the global energy transition. This shift holds immense potential for the region, fostering innovation, attracting investments, and creating new job markets. The GCC’s hydrocarbon wealth has been the cornerstone of its economic prosperity. However, the global […]
OCB achieves technology implementation speed 3x faster than industry norm in its launch of a customer-centric omnichannel banking platform, setting a new benchmark in Vietnam HO CHI MINH CITY, VIETNAM – Media OutReach Newswire – 15 May 2024 – Backbase, the global leader in Engagement Banking, Orient Commercial Joint Stock Bank (OCB), a top private bank in Vietnam, together with SmartOSC, the premium digital enabler, announce the […]
A group of Dubai gold merchants are in talks with the emirate’s authorities to simplify regulations that they believe hinder the competitiveness of the gold trade. The discussions, which have been ongoing for several months, center on streamlining “know your customer” (KYC) requirements and customs procedures, both seen as overly bureaucratic by some traders. Dubai has long been a global hub for the gold trade, attracting international […]
KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 15 May 2024 – Eq8 Capital Sdn Bhd (“Eq8”), (formerly known as i-VCAP Management Sdn Bhd), Malaysia’s leading equity Exchanged Traded Fund (“ETF”) manager and a wholly owned subsidiary of Kenanga Investors Berhad, unveils its new corporate identity with greater access to its best performing ETF, Eq8 Dow Jones US Titans 50 ETF (“EQ8US50”) through a strategic collaboration with […]
Former finance executive with Alibaba, Amazon, and Credit Suisse named MoneyHero’s permanent CFO SINGAPORE – Media OutReach Newswire – 14 May 2024 – MoneyHero Limited (NASDAQ: MNY) (“MoneyHero” or the “Company”), a market-leading personal finance and digital insurance aggregation and comparison platform in Greater Southeast Asia, today announced the appointment of Hao Qian as the Company’s new permanent Chief Financial Officer (“CFO”), effective immediately. Reporting directly to […]
Supported by Ronald McDonald House Charities Hong Kong and Dignity Kitchen HONG KONG SAR – Media OutReach Newswire – 14 May 2024 – In a groundbreaking initiative today, Coda Bridge introduced Purpose Bound Money (PBM) — the first innovative charity project of its kind in Hong Kong. Pictured above – Mr. James Loh, Chairman of Coda Bridge (right) and Ms. Grace Fung Oei, RMHC Global Board of […]
Abu Dhabi Ports (ADP), a major logistics and transportation company in the United Arab Emirates, reported a mixed bag of results for the first quarter (Q1) of 2024. While the company witnessed a significant increase in revenue, its net profit experienced a slight decline. According to a regulatory filing made on Tuesday, ADP’s revenue for Q1 reached AED 3. 89 billion (USD 1. 06 billion), which is […]
M42, a self-proclaimed “first-of-its-kind tech-enabled global health powerhouse, ” announced the formation of a new Advisory Board on May 13, 2024. This esteemed group of industry leaders brings together world-renowned expertise in healthcare and technology, with the explicit aim of revolutionizing the global health landscape. The Advisory Board’s focus will be on personalized, preventive, and precision healthcare approaches facilitated by cutting-edge technology. M42’s vision for the future […]
Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution in the United Arab Emirates, has announced a strategic move to expand its banking activities by actively supporting small and medium-sized enterprises (SMEs). This initiative signifies ADIB’s commitment to fostering the growth of the domestic economy by empowering a vital sector that drives innovation and job creation. The bank’s support for SMEs will likely encompass a variety […]
TAIPEI, TAIWAN – Media OutReach Newswire – 13 May 2024 – A pivotal water trade show in Asia, Taiwan International Water Week, known as TIWW, is set to take place at the Taipei World Trade Center, Hall 1, from September 11th to 13th, 2024. TIWW encompasses the full range of products and technologies from the upstream to downstream of the water supply chain. This year it focuses […]
By Nantoo Banerjee It is good to note that India’s defence manufacturing industry is fast emerging as a major contributor to the country’s economy and quietly supporting the latest stock market surge. Defence manufacturers have never had it so good. The private sector defence manufacturing enterprises are doing extremely well alongside the traditional government-run publicly […]
The post India’s Arms Industry Is Witnessing A Big Market Boom first appeared on Latest India news, analysis and reports on IPA Newspack.
SINGAPORE – Media OutReach Newswire – 13 May 2024 – UXLINK, the leading Web3 social infrastructure, has just unveiled a significant milestone in its journey with a new round of funding, arriving in under three months from its previous round. Spearheaded by SevenX Ventures, INCE Capital, and HashKey Capital, this round attracted multiple investors, consolidating UXLINK’s position as an industry frontrunner. Surpassing the $5 million mark, this […]
Arabian Post Staff – Dubai, the United Arab Emirates’ (UAE) crown jewel, has long been synonymous with innovation and forward-thinking leadership. This pioneering spirit extends to the burgeoning world of esports, where Dubai has emerged as a frontrunner with the introduction of a revolutionary visa program specifically designed for professional esports players and teams. The aptly named “egamers visa” is a testament to Dubai’s commitment to fostering […]
Dubai-based high-end supermarket chain Spinneys is setting its sights on aggressive expansion in the United Arab Emirates (UAE) and Saudi Arabia following a successful listing on the Dubai Financial Market (DFM). The company’s initial public offering (IPO) in May 2024 attracted significant interest from both regional and international investors, raising over $375. 7 million. This capital injection will fuel Spinneys’ ambitious growth plans, which include opening new […]
Arabian Post Staff – A rising Chinese hotel brand, Ji Hotels, is poised to make its mark on the Gulf region with its first properties planned for Dubai and Saudi Arabia. This move signifies China’s growing ambition to establish a foothold in the lucrative Gulf tourism sector, currently dominated by established international chains. Ji Hotels, established in 2010, has carved a niche in China’s mid-scale hotel market, […]
