Growth

Business GCC UAE

UAE and South Korea discuss strengthening of economic & investment cooperation

News Desk 2 12/06/2023

Abu Dhabi, 12 June 2023: H.E. Abdullah bin Touq Al Marri, UAE Minister of Economy, held a bilateral meeting with H.E. Lee Young, South Korean Minister of SMEs and Startups, to explore the strengthening of cooperation in promoting entrepreneurship and supporting the growth of small and medium

Business

Musafir Business Achieves 97% Growth in the Gulf, Enters Indian Market

News Desk 2 12/06/2023

Dubai, UAE – June 12, 2023 – Musafir Business, the leading all-in-one corporate travel management platform in the region by musafir.com, has achieved a remarkable 97% increase in Gross Merchandise Volume (GMV). Surpassing pre-pandemic sales, the company is poised for a record-breaking year. Additionally, Musafir Business has successfully launched in India, a rapidly

Tech

HONOR Expands Rapidly in the Middle East as a Part of its Strategy for Overseas Growth

News Desk 2 12/06/2023

Dubai, UAE, 12 June 2023: HONOR has been actively growing its presence globally beyond its home market of China. The brand has successfully entered and gained traction in various markets around the world, expanding its reach and customer base. The global technology brand has experienced noteworthy growth in overseas markets during Q1 2023, particularly Europe, […]

Business

Demand for innovative designs surges across industries, ‘THE FITOUT’ anticipates robust growth

News Desk 2 08/06/2023

June 08, 2023 THE FITOUT, one of the leading providers of comprehensive interior solutions in the Middle East, and a subsidiary of Union Properties, has projected a substantial expansion in the region’s interior fit-out market in the coming years due to an increasing number of collaborations and developments within the sector. The company’s statement is […]

NEWS DESK

Emirates Post Group undergoes restructuring to drive growth with a vision to become the leading logistics market enabler in the UAE

News Desk 2 06/06/2023

UAE, June 6, 2023 Emirates Post Group Company (EPG) has undergone a strategic restructuring aimed at positioning itself as the logistics market enabler in the UAE. The new structure follows the organisation’s transition to a Public Joint Stock Company, fully owned by Emirates Investment Authority, which necessitated a review of its overall business operations to […]

NEWS DESK

H.E. Mariam bint Mohammed Almheiri inaugurates new headquarters of International Islamic Food Processors Association in Dubai

News Desk 2 30/05/2023

In a significant development for the global Islamic food industry, the UAE has become the new headquarters of the International Islamic Food Processors Association (IFPA), a subsidiary of the International Organisation for Islamic Food Security (IOFS) established by the founding members of the Organisation of Islamic Cooperation (OIC) in December 2020. As one of the […]

Business GCC UAE

H.E. Bin Touq: UAE-India partnership a driver for economic growth that creates trade & investment opportunities for over 3.8 billion people

News Desk 2 26/05/2023

H.E. Abdulla bin Touq Al Marri, Minister of Economy, participated in a session titled ‘Is Minilateralism the Future of Global Trade?’ as part of the annual Confederation of Indian Industry (CII) conference 2023 held in New Delhi on 24 and 25 May. The session was attended by Sanjeev Bajaj, President of CII; Chandragit Banerjee, Director […]

Logistics NEWS DESK

Shipsy sees 200-300% growth out of thriving Africa logistics market

Arnold Pinto 26/05/2023

Shipsy – a trending global smart logistics management platform provider – is eyeing 200-300% growth year-on-year in the Africa market as spiralling consumerism across the 54-nation bloc is spearheading the urgent need for logistics and supply chain providers to keep up pace by modernising their processes along international best practices. Confirming the

Business

Panasonic Accelerates Growth Strategy for FY2023 in Middle East and Africa

News Desk 2 24/05/2023

Panasonic Marketing Middle East & Africa (PMMAF) has revealed that it will accelerate its growth strategy for the MEA region.  Underpinned by the brand’s inspiring new global motto — Create Today. Enrich Tomorrow. — Panasonic laid out its plans on expanding its regional market share, eyeing double-digit revenue growth for 2023, as it continues to […]

Business

Savoye achieves remarkable growth in 2022 with turnover exceeding AED 800 million

News Desk 2 22/05/2023

Savoye, a leading global warehouse automation integrator and software publisher in the Middle East, achieved a remarkable milestone globally by attaining a global turnover of over AED 800 million in 2022, which is a six per cent increase compared to the previous year. Savoye’s remarkable growth in 2022 can be attributed to its unwavering focus […]

NEWS DESK

Alfa Romeo starts 2023 with a record first quarter

News Desk 2 18/05/2023

After recording an extremely positive 2022, Alfa Romeo is gaining momentum in its recovery with a record-breaking first quarter, the result of a solid strategic plan implemented rigorously and with constant focus on 360° quality. 2023 will be a complex year filled with exciting challenges, although the excellent commercial performance in Q1 includes evident growth […]

NEWS DESK

Business Growth Opportunities and Emerging Industry Trends in the Spotlight on Day 2 of CABSAT 2023

News Desk 2 17/05/2023

May 17, 2023: Day two of CABSAT 2023, the flagship event for broadcast, satellite, content creation, production, distribution, digital media and entertainment industries, welcomed visitors from around the world to network, collaborate, and seek opportunities for advancement. Through a dynamic programme of conference sessions, live technology demos, and showcases of global

Business

DIFC Records Promising Growth in Q1 2023 Welcoming International Powerhouses Apple

News Desk 2 15/05/2023

Dubai, UAE; 15 May 2023: Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa, and South Asia (MEASA) region, continues to attract world-class international firms to Dubai with Apple, Aramco, Baker McKenzie, JLL, Stryker, and others establishing new regional presence at the Centre. These additions reinforce DIFC’s 2022

Business

Emirates Steel Arkan Profit Doubles Year-on-Year

News Desk 2 10/05/2023

Abu Dhabi, United Arab Emirates, 10 May 2023: Emirates Steel Arkan (ADX: EMSTEEL) (“the Group”), the largest publicly traded steel and building materials company in the UAE, announces its growth in revenues and profits for Q1 2023. The strong performance in Q1 2023 was driven by several factors, including increased volumes from the Steel division, […]

Business

Ducab Group announces 380% growth in the volume of utilities solutions supplied between 2021 and Q1 2023

News Desk 2 08/05/2023

Ducab Group, one of the biggest end-to-end solutions providers and manufacturing firms in the United Arab Emirates, has reported 380% growth in the volume of utilities solutions supplied supplied starting from 2021 and until the first quarter of 2023. The announcement was made as the Group takes part in the World Utilities Congress (WUC) 2023, […]

NEWS DESK

Minister of Economy reviews national tourism sector’s growth & accomplishments

News Desk 2 03/05/2023

Abu Dhabi, 3 May 2023: H.E. Abdulla bin Touq Al Marri, Minister of Economy, visited the 30th edition of the annual Arabian Travel Market (ATM) exhibition, which was held at the Dubai World Trade Center recently. During the visit, H.E. emphasized that the UAE, following the vision of its wise leadership, has made significant strides […]

NEWS DESK

IMF Regional Economic Outlook Projects 3.1 per cent GDP Growth in the MENA Region

News Desk 2 03/05/2023

Dubai, UAE, May 3, 2023: The International Monetary Fund (IMF) today hosted a hybrid event to launch the May 2023 Regional Economic Outlook (REO) for the Middle East and Central Asia region at the Dubai International Financial Centre. The IMF finds that despite global shocks, growth in the Middle East and North Africa (MENA) region […]

NEWS DESK GCC UAE

Sharjah Airport records footfall of over 3.8 million passengers in first quarter of 2023

News Desk 2 01/05/2023

01 May, 2023 Sharjah Airport has welcomed more than 3.8 million passengers in the first quarter of 2023, recording a 28.01 per cent increase over the same period in 2022, and is expected to achieve even higher growth rates by the year’s end due to its notable services for passengers. The aircraft movement for the […]

Business

Orient Finance achieves remarkable growth in Q1 of 2023

News Desk 2 01/05/2023

May 01, 2023 Orient Finance, a leading and trusted ‘Global Investment Partner’ in the Middle East, recorded a robust performance during the first quarter (Q1) of this year by opening hundreds of new trading accounts for citizens and residents in the UAE and the Middle East. The trade volume also increased by 20 per cent […]

NEWS DESK

National Marine Dredging Group achieves 366% growth in net profit during first quarter of 2023 to reach AED 303 million

News Desk 2 01/05/2023

National Marine Dredging Group (ADX: NMDC), one of the world’s leading Engineering, Procurement, Construction (EPC) and marine dredging groups, announced achieving a record growth in its net profit by 366% during the first quarter of 2023, to reach AED 303 million, compared to net profit of AED 65 million during the same period last year. […]