Growth

NEWS DESK GCC UAE

World of Coffee Dubai 2024 attracts over 13,000 specialized visitors with 30% growth

News Desk 1 24/01/2024

World of Coffee Dubai 2024, organised by DXB Live, the integrated event management and experiential agency of the Dubai World Trade Centre, in collaboration with Specialty Coffee Association, has successfully concluded with a remarkable turnout and overwhelming participation of more than

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Almosafer’s comprehensive trends report highlights growth of thriving domestic tourism

News Desk 1 22/01/2024

Almosafer, Saudi Arabia’s leading travel company (part of Seera Group), has revealed that Saudi travellers are showing a strong appetite for the diverse range of tourism offerings within the country, leading to impressive gains for the domestic tourism sector in 2023. The new domestic travel trends report was released by Almosafer during the 2024 Saudi […]

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India at 75: A Remarkable Journey of Growth

News Desk 1 22/01/2024

As India celebrates its 75th Republic Day, it is a moment of reflection and pride for the nation. The journey from an independent nation to one of the world’s fastest-growing economies in a relatively shorter period has been remarkable. By 2027, the nation is poised to become the world’s third-largest economy, surpassing economic powerhouses like […]

NEWS DESK GCC UAE

ASSA ABLOY opens new state-of-the-art regional headquarters in Dubai, UAE

News Desk 1 22/01/2024

Showcasing a firm commitment to innovation and excellence, ASSA ABLOY, the global leader in access solutions, unveils a new Regional Headquarters at National Industries Park in Dubai, putting them at the epicentre of the Middle East, that is transforming its infrastructure and enabling technology and innovation for growth. The inauguration of the new facility took […]

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Alfa Romeo Reports Impressive Year-End Growth in the GCC

News Desk 1 18/01/2024

Alfa Romeo, the renowned Italian luxury automobile manufacturer, today announced its year-end growth in the Gulf Cooperation Council (GCC) region, concluding 2023 with a notable 5% increase over the previous year. The UAE recorded the highest levels of growth – with an impressive 24% year-over-year increase in sales in 2023, against 2022 figures. The year […]

NEWS DESK GCC Oman

A new era for real estate dawns in Oman

News Desk 1 16/01/2024

The importance of the real estate sector in any nation’s economic and social development is no secret. For years, construction has been celebrated as a pivotal economic driver, and in recent decades we have seen developed economies evolve from industrial and service-oriented development to what experts call a finance and real estate-driven economy. In this […]

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DIFC, Guernsey Finance Collaborate to Unlock Dynamic Economic Growth

News Desk 1 15/01/2024

Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa and South Asia (MEASA) region, today announced it is joining forces with Guernsey Finance, a joint industry and government initiative established to promote Guernsey’s financial services sector internationally, to foster growth and innovation in a continued effort to

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OPSWAT reiterates commitment to securing regional critical infrastructure

News Desk 1 09/01/2024

OPSWAT, a global leader in Critical Infrastructure Protection (CIP) cybersecurity solutions, today reiterated its commitment to helping critical infrastructure organizations in the region shore up their perimeter defenses against a threat landscape that shows an increasing interest in OT/ICS. OPSWAT’s commitment to the region comes on the back of significant growth in

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Money Maestro Anticipates 25 Percent Growth in 2024

News Desk 1 09/01/2024

Money Maestro, a financial mortgage consultancy firm, that has been operating in the UAE for past three years; anticipates 25 percent growth in 2024. The company, known for customised mortgage solutions and financial services in the region has a customer-centric approach, distinct from traditional financial service providers. As an independent brokerage firm, Money Maestro

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Global Re Selects DXC Technology’s Reinsurance Software to Accelerate Growth

News Desk 1 13/12/2023

DXC Technology (NYSE: DXC), a leading Fortune 500 global technology services provider today announced it has secured a seven-year contract with Global Re, a full-service global reinsurance firm, to deliver DXC Assure Reinsurance, which will underpin their expansion in the Middle East.  Global Re has selected DXC Assure Reinsurance, as its core administration

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Non-Oil Sector on the Rise, Diversification Drives Growth

News Desk 1 13/12/2023

2023 was an eventful year from all standpoints, ending unexpectedly with the Israel-Gaza conflict breaking out in the Middle East. Financial and economic observers agree on the importance of remaining cautious when making projections about Middle Eastern markets for 2024 noting the possible spill-out of the conflict into other neighboring countries. However, forecasts

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Beltone achieves record Operating Revenue of EGP957 million in 9M2023

News Desk 1 27/11/2023

Beltone Financial Holding (“Beltone” or “the Company”), one of the fastest growing financial institutions, announces its consolidated financial and operational results for the period ending September 30, 2023. Beltone’s new management embarked on a journey of restructuring and transformation, following the acquisition. Many functions were revamped, policies and procedures

NEWS DESK GCC Saudi Arabia

AliExpress Records Growth in Saudi Arabia

News Desk 1 22/11/2023

AliExpress, an international online retail marketplace under Alibaba International Digital Commerce Group, concluded its 2023 11.11 Global Shopping Festival last Saturday. In Saudi Arabia, sales in the first 6 hours of this year’s 11.11 exceeded the sales of the entire day of Nov 11th last year. The platform saw nearly threefolds of new consumers placing […]

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Customised, eco-friendly paper and stationery products driving growth of Middle East market

News Desk 1 21/11/2023

A recent report by Technavio has forecast that the Middle East office stationery supplies and services market size is estimated to increase by USD 725.04 million by 2027. Global experts, speaking this morning at Paperworld Middle East and Gifts and Lifestyle Middle East at the Dubai World Trade Centre (DWTC), highlighted that a notable rise […]

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SALAMA reports strong financial performance with 19% growth in net profit

News Desk 1 15/11/2023

Islamic Arab Insurance Company (DFM listing: “SALAMA”), UAE’s largest Takaful solutions provider, posted a net profit of AED 18.6 million for the first nine months of 2023 (9M 2023), a healthy 19% rise from AED 15.6 million reported in the corresponding period of the previous year. The company reported a significant 21% growth in revenue […]

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ADNOC Drilling Delivers Robust Growth in Third Quarter, with Net Profit Up 36% Year-on-Year to $257 million

News Desk 1 14/11/2023

ADNOC Drilling Company PJSC (“ADNOC Drilling” or “the Company”) (ADX symbol: ADNOCDRILL / ISIN: AEA007301012) today announced its financial results for the third quarter and first nine months of 2023. Third quarter revenue increased to $776 million, up 16% year-on-year with growth across all segments. Third quarter EBITDA increased by an impressive 27%

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ENOC’s jet fuel sales to reach over a billion gallons by the end of 2023

News Desk 1 14/11/2023

Reaffirming its commitment to the growth of the aviation sector in Dubai, ENOC Group will reach more than one billion gallons of jet fuel sales – exceeding pre-pandemic levels – at the end of this year by supplying more than 153,000 commercial, military, and general aviation flights around the world. The announcement was made on […]

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TAQA Group Reports AED 15 billion Net Income for first Nine Months of 2023

News Desk 1 13/11/2023

Abu Dhabi National Energy Company PJSC (“TAQA”, the “Group” or the “Company”), one of the largest listed integrated utilities in Europe, the Middle East and Africa, reported its earnings for the period ending 30 September 2023 and unveiled revised growth targets that will see the Group accelerate the development of new power and water generation […]

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Stellantis Reports 7% Growth in Q3 2023 Net Revenues

News Desk 1 10/11/2023

Stellantis N.V. continued to build momentum in Q3 2023, delivering a 7% year-over-year increase of Net revenues driven by continued strength in shipments. The Company’s “Third Engine”(5) achieved 25% revenue growth year-over-year. Global BEV sales were up 37% versus third quarter 2022, led by the following vehicles: Jeep® Avenger, Citroën Ami, Peugeot E-208, Fiat New […]

NEWS DESK GCC UAE

Rapid growth in Abu Dhabi powered by strategic foresight and enabling regulatory reforms

News Desk 1 09/11/2023

Abu Dhabi’s robust economic performance and the enticing opportunities it offers to global investors take centre stage in the newly released “The Report: Abu Dhabi 2023″ by the research and advisory firm Oxford Business Group. In 2022, Abu Dhabi achieved a growth rate of 9.3% – the highest in the Middle East and North Africa […]