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Early profitability sets the stage for a promising start toward its 2025 financial targets Highlight and achievements of Q1 FY24: Growth momentum continues, as revenue increased by 33% YoY, exceeding 31% of FY24 guidance to reach JPY 7.4 billion, driven by robust traction from existing customers and early success in vertical diversification strategies Gross profit grew 37% YoY, with gross margin reaching 51.7%, a historical high for […]

The Wisconsin State Investment Board (WSIB) made waves in the financial world today after it disclosed the purchase of $99 million worth of shares in BlackRock’s iShares Bitcoin Trust ETF. This move marks a significant development, as it represents one of the first major forays by a government-run investment board into the world of cryptocurrency. The WSIB, which oversees the investments of Wisconsin’s public pension funds, has […]

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 […]

By Saifur Rahman Emirates Group that includes the world’s largest international passenger carrier Emirates Airline and its ground handling and ticketing arm Dubai National Air Travel Agency (Dnata) reported a 71 percent jump in net profits exceeding Dh18.7 billion (US$5.1 billion) in 2023-24 financial year ending March 31 2024, compared to Dh11 billion (US$3 billion) recorded the previous year. This is a new profit record for Emirates […]

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 […]

El Salvador, the nation that took the world by storm when it adopted Bitcoin as legal tender in 2021, has taken another bold step towards cryptocurrency integration. On May 12th, the National Bitcoin Office (ONBTC) launched a dedicated mempool space, granting the public unprecedented access to the country’s Bitcoin holdings. This move signifies a commitment to transparency in El Salvador’s ongoing Bitcoin experiment. The mempool, a term […]

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Currency risk is emerging as a prominent concern for investors, garnering increased attention as currency volatility continues to disrupt investment returns. The recent fluctuations in the yen against the dollar serve as a stark example of the challenges posed by currency movements in today’s global financial landscape. Over the past month alone, the yen has experienced dramatic swings against the dollar, causing significant disruptions for investors with […]

The Philippine financial landscape is set to see a digital innovation with the Bangko Sentral ng Pilipinas (BSP) approving PHPC, a peso-pegged stablecoin launched by the popular crypto exchange Coins. ph. This move is expected to significantly impact the way Filipinos, particularly overseas workers, send money back home. Traditionally, sending money to the Philippines has involved remittance centers or bank transfers, both of which can be slow […]

ADNOC Drilling Company, a leading oil and gas drilling services provider, continues its impressive performance streak, achieving record first-quarter revenue and Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the period ending March 31, 2024. This stellar performance marks the third consecutive quarter where the company has surpassed market expectations. Revenue surged to a staggering $886 million, reflecting a robust 24% year-on-year growth. This upswing can […]

SIHANOUKVILLE, CAMBODIA – Media OutReach Newswire – 13 May 2024 – In a historic move, AIM Global Foundation and Canopy Sands Development (CSD) have signed a Memorandum of Understanding (MOU) today to jointly develop an international convention and exhibition center in the Bay of Lights, Sihanoukville, Cambodia. Representatives from AIM Global Foundation and Canopy Sands Development sign a MOU at the 2024 AIM Congress, initiating a landmark […]

Money sent home by foreign workers in Saudi Arabia reached a two-year high in March, reflecting a growing expatriate population and their evolving financial habits. According to official data, remittances climbed 28% compared to February, reaching a total of $3. 2 billion (SR 11. 96 billion). This marks the highest level of expatriate money transfers since June 2022. The surge in remittances is attributed in part to […]

JPMorgan Chase, a leading American financial institution, disclosed a data breach impacting the personal information of over 450, 000 customers. According to filings submitted to the Maine Attorney General’s office, the bank identified a software vulnerability that remained active since August 26, 2021. This flaw gave unauthorized access to retirement account records of affected customers. The exposed data reportedly included names, addresses, Social Security numbers, and bank […]

Petrofac, a major oil and gas service provider, faces potential disruption to ongoing projects valued at a staggering $6. 6 billion across the Middle East and North Africa (MENA) region. Analysts warn that Algeria and the United Arab Emirates (UAE) could be the most significantly impacted. This development comes amidst a period of uncertainty for Petrofac. The company recently underwent a financial restructuring and continues to grapple […]

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 […]

Dubai’s real estate market is experiencing a shift as a growing number of new property owners are opting to convert their units into short-term rentals. This trend is driven by several factors, including the potential for higher returns compared to traditional long-term leases and the increased flexibility that short-term rentals offer. The allure of short-term rentals stems from Dubai’s thriving tourism sector. The emirate has become a […]

Burjeel Holdings, a leading healthcare provider in the United Arab Emirates (UAE) and the broader Middle East and North Africa (MENA) region, announced strong financial performance for the full year 2022. The company reported a net profit of AED 355 million, reflecting a significant increase of 52% compared to the previous year. This upsurge highlights the success of Burjeel’s yield enhancement strategy, which focuses on maximizing revenue […]

BEIJING, CHINA – Media OutReach Newswire – 8 May 2024 – The number of Mainland Chinese small businesses that expect to grow and hire new employees this year is on the rise, reflecting an improving business environment, according to a new survey by one of the world’s largest professional accounting organisations, CPA Australia. CPA Australia Asia-Pacific Small Business Survey 2023-24 – Mainland China results CPA Australia’s annual […]

The Monetary Policy Committee of the Bank Negara Malaysia (BNM) will meet on 8 – 9 May to decide on monetary policy. Octa’s experts expect the interest rate to remain at 3.00%. Read for more details. Bank Negara Malaysia will likely keep the overnight policy interest rate stable at 3.00% at the next monetary policy meeting on 8 – 9 May. Investors’ expectations for the tight U.S. […]

MoneyHero study casts a spotlight on personal loan trends in Hong Kong, analysing organic traffic data and applications through the MoneyHero platform that manages approximately 1.4 million monthly unique users. Year-over-year data also revealed an increase in user interest in loans from licensed money lenders, with the proportion of applications for money lender loans versus bank loans growing from 51% in 2022 to 62% in 2023, while […]

Arabian Post Staff – The International Monetary Fund (IMF) recently designated Singapore as Asia’s wealthiest nation by GDP per capita, reclaiming the title it held for several years before Dubai’s meteoric rise. This shift has reignited discussions surrounding the two economic powerhouses and their unique approaches to growth. Singapore, a tiny island nation with a population of roughly 5. 7 million, has long been lauded for its […]

A new wave of regional collaboration is surging across industries, aiming to accelerate digital transformation efforts. This unified approach brings together businesses, universities, and government agencies to tackle shared challenges and unlock the full potential of digital technologies. One prime example of this collaborative spirit is the University Startups Initiative Program in the Middle East and North Africa (MENA) region. Launched in 2023, the program fosters partnerships […]

Al Ansari Financial Services (AFS), a leading financial services provider in the United Arab Emirates, reported a net profit of AED 98. 7 million for the first quarter of 2024 (Q1 2024). This represents a 26% decrease compared to the AED 133 million net profit achieved in Q1 2023. The decline in profitability is attributed to two key factors. AFS underwent a significant branch network expansion during […]

21 Singaporean locals with no prior IT backgrounds will now be assigned to work on GovTech and other projects as Digital Business Analysts for a year to hone their professional competencies SINGAPORE – Media OutReach Newswire – 10 May 2024 – Temus, a digital transformation services firm, commemorates the graduation of 21 trainees from its flagship ‘hire, place and train’ digital career conversion programme, Step IT Up. […]

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