Arabian Post Staff After a strong first half, Gulf Cooperation Council banks are returning to form. S&P Global Ratings expects that earnings for most GCC banks will reach almost pre-pandemic levels by year-end 2022, amid high oil prices and rising interest rates, supporting their creditworthiness. In the second half, S&P forecasts a more visible strengthening of regional banks’ interest margins and a manageable pick-up in cost of […]
Arabian Post Staff IMF has recommended a change from Dubai current real estate index into a residential property price index (RPPI) to better reflect the trends in the emirate’s property sector. An IMF mission that held discussions in this respect suggested that regardless of obtaining an overall real estate index covering all types of properties, a RPPI that follows the price trend of the residential buildings should […]
Arabian Post Staff The millionaire populations of Dubai, Mumbai, and Shenzhen are expected to break into the Top 20 wealthiest cities by 2030, according to global wealth intelligence firm New World Wealth. “Cities with strong oil and gas industries are performing especially well this year, including the likes of Riyadh, Sharjah, Luanda, Abu Dhabi, Doha, and Lagos. Others on the fastest-growing list include Lugano, a Swiss hotspot for […]
Arabian Post Staff Alternative investment firm Investcorp announced that Investcorp Saudi Pre-IPO Growth Fund LP led the Pre-IPO round in privately-held TruKKer Holding Limited, MENA’s largest digital freight network with a leading position across Saudi Arabia, the United Arab Emirates, Egypt and neighbouring countries. Investcorp led the initial close of this round with $51 million investment alongside new and existing investors. This investment is part of the […]
Arabian Post Staff Emirates carried more than 10 million passengers on nearly 35,000 flights to 130 destinations this summer, the airline announced. Having anticipated the strong return of travel demand, Emirates worked closely with its airport partners to operate as scheduled, minimise travel disruptions, and take customers to their planned holidays and trips to see friends and family across the world over the summer. The airline also […]
Arabian Post Staff Dubai based master developer Nakheel has unveiled a new vision for Dubai Islands which will redefine the concept of waterfront living. Comprised of five islands with a total area of 17 square kilometres, Dubai Islands have been designed to enhance the wellbeing and lifestyles of residents and visitors. Aligning with Dubai 2040 Urban Master Plan, Dubai Islands (formerly known as Deira Islands) will reinforce […]
Arabian Post Staff G42, the leading UAE-based AI and cloud computing technology company, announced the launch of the US$10 billion G42 Expansion Fund, a global technology growth fund formed in strategic partnership with Abu Dhabi Growth Fund (ADG). The fund, which will be managed by a subsidiary of G42, is focused on accelerating the pace of global innovation by investing in late-stage growth companies with disruptive technologies and […]
Arabian Post Staff The government of the Sultanate of Oman scored a major victory in the U.S. Department of Commerce’s countervailing duty investigation of steel nails from the Sultanate. The Commerce Department’s final determination included a first-ever finding in an Oman CVD case that the provision of electricity conferred no subsidy benefit on Oman Fasteners, the respondent company, and the final CVD margin was set at just […]
Arabian Post Staff Intense competition and an increase in claims frequency will continue to weigh on Islamic insurers’ earnings in 2022, S&P said in a report on the outlook for the GCC Takaful industry. But it forecast a modest recovery in 2023 thanks to anticipated rate adjustments in loss-making lines and higher interest rates, which should boost investment returns. Ongoing pressure on earnings and capital has already […]
Arabian Post Staff International Holding Company, a diversified Abu Dhabi-based conglomerate, has posted new record profits in the first half of 2022. The company attributes this to the 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 significant strengthening of the conglomerate’s balance […]
Nowadays, many young recent graduates decide to take a chance and try their luck in a foreign country to look for job offers. One of the favourite destinations is the Middle East, because the salary offered there is quite high. One of the places that hires the most foreigners is the United Arab Emirates. Therefore, if you think you might have the profile that the country’s famous […]
By Saifur Rahman Zimbabwe President Emmerson Mnangagwa on Wednesday broke ground to launch the US$500 million (Dh1.83 billion) Zim Cyber City – a state-of-the-art mixed-use hi-tech park at the outskirts of Zimbabwe’s capital city Harare – that is being developed by UAE-based diversified industrial conglomerate Mulk International. Sprawled across 2.5 million square feet, Zim Cyber City is currently under construction in Mount Hampden, New Harare. Mount Hampden’s master plan includes […]
Arabian Post Staff Expo 2020 has had a positive impact on all markets in the UAE, while the FIFA World Cup Qatar 2022 is expected to result in overspill demand to the key transit hubs in Dubai and Abu Dhabi, Colliers said in its monthly hotel report for MENA. However, rising instability in key CIS source markets is expected to suppress demand, with the largest impacts expected […]
Arabian Post Staff Abu Dhabi-based Alpha Dhabi Holding has increased its stake in Aldar Properties, reaffirming its position as the single largest shareholder and consequently becoming Aldar’s parent company. Through this latest additional stake, Alpha Dhabi has raised its shareholding of Aldar, to complement its existing majority representation on Aldar’s Board of Directors. Accordingly, Aldar will be treated as a subsidiary in Alpha Dhabi’s consolidated financial statements, the impact […]
Arabian Post Staff Oman Insurance Company announced it has completed the sale of its insurance operations in Turkey to VHV Reasürans, Istanbul/Turkey, a company of VHV Group, Hannover/Germany. The size of the financial transaction was not disclosed. This transaction represents a continuation of Oman Insurance’s transformation and simplification strategy with the objective to focus company’s resources on specific markets and segments. Jean-Louis Laurent Josi, CEO of Oman […]
Arabian Post Staff Etihad Credit Insurance (ECI), the UAE Federal export credit company, has entered into a historic collaboration with Israel Export Insurance Corp. Ltd. (ASHRA) to form the first Public-Private Partnership project between the UAE and Israel after the signing of the historic Abraham Accords in September 2020. The deal will provide buyer’s credit guarantees to the funding bank for Ghana’s AED 540 million (EUR 140 […]
Arabian Post Staff Nissan has won the case in which its erstwhile distributor Al Dahana FZCO brought various claims against it in the wake of their joint venture business in the Middle East, named Nissan Gulf FZCO was called off in 2019. In 2008 Nissan entered into an agreement with Al Dahana to form a joint-venture called NGF to manage the distribution of vehicles in part of […]
Arabian Post Staff Abu Dhabi Securities Exchange (ADX) has successfully completed a London investor roadshow which saw ADX host a delegation of over 25 senior executives from 9 listed companies and the exchange. The sizeable Abu Dhabi capital market representation reinforces the strong focus on investor relations and continuous dialogue that ADX and its listed companies continue to foster with international and institutional investors. Over the course […]
Arabian Post Staff’ DP World and CDPQ, a global investment group, announced an investment of US$5 billion (CA$6.3 billion) in three of DP World’s flagship UAE assets. CDPQ will invest US$2.5 billion in the Jebel Ali Port, the Jebel Ali Free Zone and the National Industries Park through a new joint venture in which it will hold a stake of approximately 22%, with the remainder of the […]
Arabian Post Staff Al Jalila Foundation, a member of the Mohammed bin Rashid Al Maktoum Global Initiatives, has partnered with a leading cryptocurrency platform to expand the foundation’s donation channels. The foundation has thus become the first healthcare charity in the UAE to accept digital money donations. The foundation simultaneously announced that it has been granted approval to receive charitable donations in cryptocurrencies. The unprecedented move in […]
Free training to help young leaders to be truly future-ready by getting climate-ready HONG KONG SAR – Media OutReach – 2 June 2022 – AXA Hong Kong and Macau (AXA) launches “AXA Climate School for university students in Hong Kong”, a free online course for all full-time university undergraduates in Hong Kong. Climate change is the biggest health risk facing humanity in the 21st century. Knowledge about […]
Arabian Post Staff Air and travel services provider dnata announced it would invest US$ 100 million in green operations in the next two years to further enhance environmental efficiency across its global network. The company’s ongoing investment in infrastructure, equipment and process improvement will support it to achieve its strategic objectives and reduce its carbon footprint by 20% by 2024, and by 50% by 2030. In recent […]
Arabian Post Staff Abu Dhabi Securities Exchange (ADX) announced the secondary listing of GFH Financial Group B.S.C. The listing is set to further expand GFH’s investor base and enhance liquidity in its shares amid increased regional and international participation on the exchange. To mark the occasion, ADX Managing Director and CEO, Saeed Hamad Al Dhaheri, and GFH’s Group Chief Executive Officer, Hisham Alrayes, rang the market-opening bell […]
Humans are sociable beings by nature. And, given that we spend one-third of our lives at work, it’s obvious that having strong connections with our coworkers will make our employees more pleasurable. Coworkers will be more confident in brainstorming, sharing their perspectives, and embracing new ideas if they feel comfortable with one another. This level of teamwork is necessary to embrace change, progress, and innovation. Productivity and […]
