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Abu Dhabi Developmental Holding Co. (ADQ), a prominent sovereign wealth fund, unveiled its financial results for 2023, showcasing a positive year marked by growth in both revenue and net profit. The company reported a net profit of 16.1 billion dirhams (approximately $4.3 billion), reflecting a climb from 12.2 billion dirhams in 2022. This positive performance is further bolstered by a rise in revenue. ADQ’s consolidated revenue for […]

Following the strongest performance for the S&P 500 Index since November, which propelled the US stock gauge close to its March record levels, investors now confront a crucial decision. They must determine whether the recent downturn witnessed earlier in the month was merely a temporary setback, or if the possibility of postponed policy easing by the Federal Reserve could potentially drag the market lower once more. It’s […]

Dubai International Financial Centre (DIFC) has solidified its status as a premier destination for the world’s wealthiest families. Boasting over 120 billionaires and ultra-high net worth individuals (UHNWIs) with a combined net worth exceeding $1 trillion, DIFC has played a key role in propelling Dubai to the top spot in the Middle East, Africa, and South Asia (MEASA) region for wealthy residents. On a global scale, Dubai […]

HCM CITY, VIETNAM – Media OutReach Newswire – 29 April 2024 – The Hồ Chí Minh City Development Joint Stock Commercial Bank (HDBank, stock code: HDB) has announced an ambitious pre-tax profit target of VND15.85 trillion (US$625.5 million) for 2024, a 22% increase from the previous year, at its annual general meeting on Friday, April 26. Customers conduct transactions at an HDBank branch in HCM City. Photo […]

Refreshing the Brand to Tap into Chow Tai Fook Enterprises’ Extensive Resources Consistently Committed to Creating Value Beyond Insurance HONG KONG SAR – Media OutReach Newswire – 29 April 2024 – FTLife Insurance Company Limited (“FTLife”) announced today that it will change its company name to Chow Tai Fook Life Insurance Company Limited (“CTF Life”) and launch the new brand in the third quarter of this year, […]

Qatar Gas Transport Company (Nakilat), a leading Liquefied Natural Gas (LNG) shipping giant, reported a positive start to 2024 with a 6% increase in net profit for the first quarter. The company’s net profit reached 420 million Qatari riyals (approximately $115 million), exceeding the figure from the same period last year. This positive performance is attributed to a rise in demand for LNG shipping services. While the […]

The Board of Directors of Response Plus Holding PJSC (ADX: RPM), the leading pre-hospital care and emergency medical services provider in the UAE and Saudi Arabia, announced a AED20 million dividend distribution to shareholders for the fiscal year ending December 31, 2023. This decision, ratified during the company’s Annual General Assembly held on April 26, 2024, reflects Response Plus Holding’s strong financial performance and commitment to rewarding […]

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By Saifur Rahman Dubai Government will invest Dh128 billion (US$34.87 billion) in developing the world’s largest airport terminal at Al Maktoum International Airport, part of the 140-square km Dubai South Aerotropolis, which has a design-built capacity to handle 260 million passengers per annum. Al Maktoum International Airport will cover 70 square kilometres, or half of the 140-square kilometre Dubai South, which is ten times the size of […]

The Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME), a key driver of economic growth in the emirate, has unveiled a critical support package for businesses impacted by the recent severe weather. This initiative aims to bolster recovery efforts and empower SMEs to navigate the challenges brought on by the exceptional weather conditions. Dubai SME, a subsidiary of the Dubai Department of Economy […]

The Emirate of Abu Dhabi is revving up its industrial engine with the help of a major steel project spearheaded by Khalifa Economic Zones Abu Dhabi (KEZAD) Group and Dana Steel, a subsidiary of the Dana Group conglomerate. This collaboration promises to not only bolster Dana Steel’s manufacturing capabilities but also significantly contribute to Abu Dhabi’s ambitious industrial strategy. At the heart of the initiative lies the […]

Global leaders will descend upon Riyadh, Saudi Arabia, for a crucial dialogue on pressing issues facing the international community. The upcoming gathering, organized by the World Economic Forum (WEF), aims to foster collaboration and chart a course for a more resilient future. The forum, expected to take place later this year, will convene government officials, industry titans, and civil society representatives under the banner of “Shaping a […]

Techcombank achieves 246% growth in active digital business banking users leveraging on Backbase Engagement Banking Platform SINGAPORE – Media OutReach Newswire – 26 April 2024 – Backbase, the global leader in Engagement Banking, and Techcombank, Vietnam’s fifth largest private bank in asset size in Vietnam, have been named joint winners of the Best Digital CX Partner – SME Bank award by The Digital Banker, for the implementation […]

Launching New Brand Aitrasound® and an AI Medical Imaging Product Line HONG KONG SAR – Media OutReach Newswire – 26 April 2024 – Recently, Aitrasound® Medical Group (Telefield Medical Imaging Limited) announced the formal completion of a pre-Series A financing round of nearly 60 million Hong Kong dollars. The pre-Series A financing was started in March 2023 with an initial round of nearly 40 million Hong Kong […]

Saudi Aramco, the world’s largest oil producer, is engaged in discussions with Rongsheng Petrochemical, a leading Chinese refiner, regarding a possible stake sale in the Jubail Refinery. This potential partnership signifies Aramco’s ongoing strategy to attract foreign investment and expand its downstream operations, which involve processing crude oil into usable products. The talks center around Rongsheng acquiring a 50% stake in the Jubail Refinery, also known as […]

US stocks soared to their strongest weekly performance this year, fueled by a surge in the technology sector. The rally was sparked by positive earnings reports from industry giants like Microsoft and Google’s parent company, Alphabet. These reports, coupled with inflation data that fell within expectations, instilled optimism on Wall Street. The benchmark S&P 500 index climbed over 1% to close around 5,100 on Friday, marking its […]

UAE leaders sent their warmest greetings to Ethiopia on the occasion of the country’s National Day. The President of the United Arab Emirates, His Highness Sheikh Khalifa bin Zayed Al Nahyan, sent a message of congratulations to President Sahle-Work Zewde of Ethiopia. Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and […]

The Middle East and North Africa (MENA) region is grappling with a rising tide of debt, sparking anxieties about its potential to destabilize the global economy. Fueled by a confluence of factors, including lower oil revenues, social spending increases, and the economic fallout from the COVID-19 pandemic, the region’s debt-to-GDP ratio has ballooned in recent years. This trend has financial institutions and international organizations warily watching, as […]

Circular economy battery startup tozero GmbH walks away with the title of overall champion of the EPiC 2024 tozero GmbH crowned as EPiC 2024 champion claiming the top cash prize of US$90,000, 1,100,000 Asia Miles, as well as invaluable investor exposure and partnership opportunities The EPiC 2024 competition breaks new ground as the Grand Finale caps off the first-ever four-city semi-final series across the U.S., Europe and […]

The United Arab Emirates’ construction sector, a key driver of the country’s economic diversification, is facing potential delays due to the recent downpours. The unprecedented rainfall, the heaviest in decades, has flooded project sites, damaged materials, and hampered progress. While the long-term impact remains to be seen, industry leaders acknowledge the disruption caused by the adverse weather. Major concerns include delays in project timelines, potential cost increases […]

LIVERPOOL, UNITED KINGDOM – Media OutReach Newswire – 26 April 2024 – Liverpool FC continues with its ambitious plans for international growth, with the signing of its first ever retail partnership in South Korea. Working with Over the Pitch, a brand and creative design studio founded in 2014 that presents football culture in the country and collaborates with domestic and international clubs. The new partnership will bring […]

The adopt-and-build approach on the Backbase Engagement Banking Platform elevated TPBank into the Top 10 banks in Vietnam within 5 years SINGAPORE – Media OutReach Newswire – 26 April 2024 – Backbase, the global leader in Engagement Banking, in partnership with Vietnam’s Tien Phong Commercial Joint Stock Bank (TPBank), has won the ‘Best Omni-Channel Digital CX Solution’ award at The Digital CX Awards 2024. This accolade highlights […]

SHENZHEN, CHINA – Media OutReach Newswire – 24 April 2024 – On April 19th, Ge Jun, CEO of TOJOY Smart Enterprise Services, delivered a powerful annual speech in Shenzhen, emphasizing the critical theme of “Leap Ahead Again” for Chinese entrepreneurs, and their second-generation enterprise successors. A former Global Vice President of Intel, Apple and NVIDIA, Ge Jun’s inspiring speech was attended by a multitude of both domestic […]

Oman is charting a course for economic diversification by forging strategic alliances with regional and global partners. Recent developments highlight the Sultanate’s efforts to bolster its industrial sector, enhance trade ties, and address shared challenges. A significant step came in the form of a memorandum of understanding (MoU) signed with Saudi Arabia. The agreement, reached during a meeting between Omani Minister of Finance Sultan bin Salem Al-Habsi […]

The curtains closed on the AVPN Global Conference 2024, leaving a trail of inspiration and commitment in its wake. The event, a cornerstone for Asia’s social investing community, served as a launchpad for a multitude of transformative initiatives aimed at tackling the region’s most pressing social issues. High-profile figures like Becky Anderson of CNN, Gabriel Leung of the Hong Kong Jockey Club Charities Trust, and Indonesian Minister […]

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