Growth

GCC NEWS DESK UAE

UAE real estate sector set for resilient expansion across major asset classes in 2024: JLL

News Desk 1 28/02/2024

Building on the strong growth momentum and high levels of buyer demand experienced in 2023, the UAE’s real estate sector is expected to continue its upward trajectory in 2024 despite a softening global outlook, highlighted a panel of experts at JLL’s Navigating the Growth Spectrum: Exploring

GCC NEWS DESK UAE

Third Investopia annual conference to take place in Abu Dhabi

News Desk 1 27/02/2024

 The third annual conference of Investopia, the global investment platform launched by UAE government in September 2021, will take place on 28 and 29 February, in Abu Dhabi, under the theme Emerging Economic Frontiers: Investing in the “New Economy” Growth Sectors. The latest edition of the conference will once again bring together a wide array […]

NEWS DESK

Emirates Development Bank’s contribution to Industrial GDP grows 80% in 2023

News Desk 1 26/02/2024

Emirates Development Bank (‘EDB’ or the ‘Bank), the key financial engine of economic development and industrial advancement in the UAE, has unveiled its 2023 results, showcasing an extraordinary year of achievements and strategic milestones. The Bank revealed a significant 80% surge in its contribution to the UAE’s industrial GDP, which has grown from AED 2.4 […]

NEWS DESK

RAM delivers 80% year-on-year growth in 2023, powered by “Work Hard, Play Hard” Strategy

News Desk 1 21/02/2024

RAM continues on its strong growth trajectory in the Middle East with an outstanding performance in 2023 seeing sales rise 80% versus the previous year.  Powered by the truck’s ‘work hard, play hard’ strategy launched in 2018, the results enabled significant growth for RAM within its segment – up 11%.  Record net promoter scores also […]

NEWS DESK

Ericsson Mobility Report Business Review 2024: 5G business opportunities for CSPs

News Desk 1 16/02/2024

A new 5G-monetization-focused Ericsson (NASDAQ: ERIC) Mobility Report publication outlines four opportunity areas that communications service providers worldwide are addressing to drive business growth. Called Business Review 2024, the report is the second special business edition of the established Ericsson Mobility Report. It addresses how communication service providers

NEWS DESK

Hisense Retains No.2 Ranking Globally for TV Shipment in 2023

News Desk 1 15/02/2024

Global home appliance corporation Hisense retained its No. 2 global ranking for TV shipment in 2023, hitting a 25.9 million shipment volume for 2023 in global markets according to the ‘2023 Monthly Report of Global TV Shipment Volume of TV Brands’ from leading market research institute AVC Revo. Hisense has been the only brand that […]

NEWS DESK

SALAMA records full-year revenue of AED 1.11 billion

News Desk 1 15/02/2024

Islamic Arab Insurance Company, listed as “SALAMA” on DFM, announced its preliminary results for the 2023 fiscal year. The company recorded insurance revenue of AED 1.11 billion in 2023, an increase by 20% from fiscal year 2022. Total assets registered an increase at AED 3.70 billion in 2023, in comparison to AED 3.57 billion in […]

NEWS DESK

Bybit’s Market Share Eightfolded Amidst Record-Breaking $1.34tn Total Spot Trading Market Size

News Desk 1 15/02/2024

Bybit, one of the world’s top three crypto exchanges by volume with over 20 million users, has experienced remarkable growth in 2023 despite the turbulence in the crypto market. Recent data from Kaiko reveals that Bybit recorded the largest increase in spot market share among top exchanges, solidifying its position as a trusted platform for […]

NEWS DESK

MRO Middle East and AIME unveils conference agenda

News Desk 1 13/02/2024

As a transit gateway for international flights, the Middle East continues to witness significant growth across its aviation industry. Driven by the increasing demand for new aircraft as part of fleet expansion plans and modernisation programmes, the Middle Eastern MRO market is projected to account for more than 11.5% of worldwide demand over the next […]

NEWS DESK

Emirates Stallions Group Announces Record 316% Growth in Net Profit for 2023

News Desk 1 12/02/2024

Emirates Stallions Group (ADX: ESG), the leading provider of Manpower Supply, Workers & Staff Accommodation solutions, as well as Landscaping & Agriculture, Real Estate Development, Engineering Project Management and associated services to Construction, Development and Hospitality, and a subsidiary of International Holding Company (ADX: IHC), today announced a

GCC NEWS DESK UAE

Grant Thornton UAE strengthens leadership

News Desk 1 09/02/2024

Grant Thornton, a leading professional services firm, announced a series of partner appointments and promotions to further fortify its executive bench as it continues to accelerate its growth and expansion in the UAE. Imran Jaffer has been appointed as the Restructuring Advisory Partner and will lead the firm’s Financial Restructuring Advisory practice from the company’s

GCC NEWS DESK UAE

36% Sales Growth in 2023 and Top Performance Acknowledgment for Genesis UAE

News Desk 1 08/02/2024

Genesis UAE, represented exclusively by Juma Al Majid Co. L.L.C, proudly announces its exceptional performance in 2023, marked by a remarkable 36% increase in sales. This achievement not only showcases the continued dedication of the Genesis team but also marks the second consecutive year of receiving the prestigious ‘Best Performance’ award. Suliman Al Zaben, Director

NEWS DESK

ETOILE GROUP ANNOUNCES 2024 GROWTH PLANS ACROSS THE REGION

News Desk 1 08/02/2024

Etoile Group, the pioneering luxury fashion retail group, today marked its 40th anniversary and shared expansion plans, including the launch of six new stores across the GCC in the first quarter of 2024. The Group’s strategic growth focuses on strengthening key partnerships while nurturing the next generation of talent to strengthen its luxury retail presence […]

NEWS DESK

Presight Announces Profitable and Consistent FY2023 Growth

News Desk 1 08/02/2024

Presight AI Holding PLC (“Presight”, ADX: PRESIGHT) today announced its FY2023 results, which showed strong, consistent revenue growth with revenues up 14.7% (+AED 228.6M) to AED 1,780.6M compared with FY2022. Net Profit increased by 5.1% (+AED 27.6M) over the same period, with FY2023 Net Profit of AED 570.6M compared to AED 543.0M for FY2022. FY2023 […]

NEWS DESK

IHC Announces Stellar Preliminary Financial Results for 2023: Record Revenue and EPS Growth

News Desk 1 06/02/2024

International Holding Company (IHC), a leading investment conglomerate based in Abu Dhabi, has announced its Unaudited Preliminary Financial Results for the year ended December 31, 2023, showcasing a remarkable year of financial growth and strategic achievements. The Group’s Preliminary Revenue soared to AED 60,089 million, marking an 18% increase from the previous

NEWS DESK

Meydan Free Zone and Zoho to Fuel Businesses’ Growth with Comprehensive Tech Suite

News Desk 1 02/02/2024

Meydan Free Zone (MFZ), the UAE’s sole 24/7 digital free zone, has announced a partnership with Zoho, a leading global technology company, to empower businesses to fuel their growth through exclusive access to an extensive suite of cloud-based solutions. This strategic collaboration marks a significant step forward in elevating the business licensing experience

NEWS DESK

GCC Insurance Industry poised for accelerated growth

News Desk 1 31/01/2024

UAE-based investment banking advisory firm, Alpen Capital projects the gross written premium (GWP) of the region to grow at a CAGR of 5.3% reaching US$ 44.4 billion by 2028, in its latest GCC Insurance Industry report. The non-life insurance segment is anticipated to grow at a CAGR of 5.4% between 2023 and 2028 reaching US$ […]

NEWS DESK

Ghitha Achieves 100% Revenue Growth in 2023

News Desk 1 29/01/2024

Ghitha Holding PJSC (ADX:Ghitha), the Abu Dhabi headquartered  conglomerate that consolidates Food, Agriculture, Fish, Dairy, Poultry, Vegetable Oil, retail, distribution and catering services, and is a subsidiary of International Holding Company (ADX: IHC), has released its financial results for 2023. The group reported an operating profit of AED 254 million,

NEWS DESK

Marjan Unveils ‘RAK Central’: An Innovative New Hub to Drive Sustainable Economic Growth

News Desk 1 29/01/2024

Marjan, the master developer of freehold properties in Ras Al Khaimah, has today unveiled RAK Central, its latest mixed-use destination, which will feature a Grade-A office and commercial district that is set to open in 2026, helping to drive business and tourism development, unlock job opportunities and redefine lifestyle in the Emirate. Upon completion of […]

NEWS DESK

Frank Porter announces expansion plans on the back of a year of positive growth

News Desk 1 24/01/2024

Airbnb management company Frank Porter has reported positive market growth for 2023 and announced expansion plans across the emirates for 2024. In 2023, Frank Porter grew its portfolio to 700+ properties in Dubai and dipped its toes into the Abu Dhabi market with 10+ properties coming on board. As the company looks forward to 2024, […]