Growth

NEWS DESK

Saudi Arabia Leads G20 Countries in Tourism Growth, According to Latest UN Tourism Barometer

News Desk 1 23/09/2024

Saudi Arabia has emerged as the fastest-growing G20 country in the latest UN World Tourism Barometer report, marking a significant milestone in the Kingdom’s rapid ascent as a global tourism destination. The Barometer highlights a 73% increase in international tourist arrivals to Saudi Arabia

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MEA paper & pulp industry poised to cross over USD 20 billion on the back of big packaging push

News Desk 1 17/09/2024

The Middle East and Africa (MEA) paper and pulp industry is on a growth surge, poised to cross over USD 20 billion in the next six to seven years, with GCC countries led by Saudi Arabia and the UAE at the forefront of a demand upswing for paper packaging products fuelling the rise, industry experts […]

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MicroVention Rebrands to Terumo Neuro – Reflects Expanded Focus and Strategic Growth

News Desk 1 13/09/2024

MicroVention, Inc., a global leader in neurovascular innovation and a wholly owned subsidiary of Terumo Corporation, today announced its official rebranding to Terumo Neuro, effective immediately. This name change signifies a new chapter in the company’s evolution while maintaining its unwavering commitment to the creation and commercialization of groundbreaking

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Playbook Partners launches $250 million growth capital fund

News Desk 1 11/09/2024

India based growth capital firm Playbook Partners announced first close having raised over $130 million through established global investors from Middle East, Europe, US, and India. In response to strong institutional investor interest, the fund is using the green shoe option and can grow to $250 million. Playbook will partner with growth-stage, tech-enabled businesses in

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Gosu Academy announces UAE expansion to boost nation’s Esports growth

News Desk 1 10/09/2024

Gosu Academy, the global leader in esports coaching and education, announced its expansion into the UAE today. The company’s entry into the region comes at an opportune time, as the gaming industry is poised to contribute over $1 billion to Dubai’s GDP by 2033, with an estimated 30,000 jobs to be created. The announcement further […]

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RAKBANK completes its inaugural Tier 2 Issuance of USD 250 Million

News Desk 1 04/09/2024

RAKBANK has successfully completed its first Tier 2 security issuance, raising USD 250 million, the securities were issued with a maturity of 10.25 years and a non-call period of 5.25 years (10.25NC5.25), carrying a coupon rate of 5.875%. The issuance was met with a very strong investor demand, being oversubscribed by 4 times with peak […]

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Sandbox VR Leans Into Franchise

News Desk 1 03/09/2024

Sandbox VR, the world’s premier destination for premium location-based virtual reality experiences, is announcing significant growth milestones of its franchise program. The company saw 60% growth in franchise deals in Q2 with plans to open 280 new franchise locations in the next four years. This announcement comes on the heels of opening their 50th store […]

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Family Development Foundation celebrates Emirati Women’s Day

News Desk 1 30/08/2024

The Family Development Foundation (FDF) organised an event under the theme ‘We Share for Tomorrow’ to commemorate Emirati Women’s Day, recognising and appreciating the invaluable contributions of Emirati women towards community development and advancing the UAE’s growth. The event, which was held at the Abu Dhabi Centre of the Family Development Foundation, witnessed the

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Saxo Bank reports 35% growth: Strong performance highlights H1 2024 results

News Desk 1 29/08/2024

During 2024, the Saxo Bank Group rolled out a new competitive pricing structure that lowers costs for clients as well as improvements to the client experience, leading to a record number of clients and client assets, with over 1.2 million end clients and USD 122 billion in client assets as of 30 June 2024. Volatility […]

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Oil Falls 2% on Growth Concerns; Gold and US Stocks Weaken Amid Market Uncertainty – APM Capital Market Report

News Desk 1 28/08/2024

Commodities Oil prices saw a sharp reversal yesterday and fell about 2% on worries that slower economic growth in the US and China could reduce demand for energy, especially after prices surged over 7% during the prior three days. Brent futures fell $1.88, or 2.3%, to settle at $79.55 a barrel, while US West Texas […]

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UAE’s latest home-grown brand Flava Coffee Co.

News Desk 1 26/08/2024

Flava Coffee, a Dubai-based producer of specialty roasted coffee, unique for its signature blends and coffee brewing equipment, has forayed into the UAE at a time when the food and beverage (F&B) market is experiencing robust growth. The combined coffee sales revenue in the GCC is expected to reach US$6.84 billion in 2024. Revenue generated […]

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MultiBank Group Achieves Record-Breaking Revenue and Exceptional Profit Growth in 2023

News Desk 1 22/08/2024

MultiBank Group, one of the world’s largest financial derivatives institutions headquartered in Dubai, announces its most successful financial year to date, with an impressive revenue of $306,636,717 in 2023. Based on the latest audited financial statements, MultiBank Group achieved a strong 10% revenue increase, growing from $279,523,140 in 2022. This milestone

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Zoho Empowers Kerala Business Forum Members

News Desk 1 19/08/2024

Zoho, a leading global technology company, and Kerala Business Forum (KBF), a prominent organisation for Kerala-origin entrepreneurs in Qatar, today announced a strategic partnership aimed at accelerating business growth and digital transformation of the members of the KBF community. Through this collaboration, KBF members will receive Zoho wallet credits to access Zoho’s

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Canada Growth Fund to Invest up to US$100 Million in Svante to Accelerate Growth

News Desk 1 17/08/2024

Canada Growth Fund Inc. (“CGF”) and Svante Technologies Inc. (“Svante” or the “Company”), a leading global carbon capture and removal solutions provider headquartered in Vancouver, Canada, announced today a financing commitment of up to US$100 million to accelerate the development and construction of Svante’s commercial carbon capture and removal projects in Canada and the

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Canada Growth Fund to Invest up to US$100 Million in Svante to Accelerate Growth

News Desk 1 16/08/2024

Canada Growth Fund Inc. (“CGF”) and Svante Technologies Inc. (“Svante” or the “Company”), a leading global carbon capture and removal solutions provider headquartered in Vancouver, Canada, announced today a financing commitment of up to US$100 million to accelerate the development and construction of Svante’s commercial carbon capture and removal projects in Canada and the

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Bybit and DMCC Extend Successful Partnership, Pioneering New Role to Drive the Growth of Dubai’s Crypto Ecosystem

News Desk 1 13/08/2024

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, announced the extension of its strategic partnership with Dubai Multi Commodities Centre (DMCC), After a year of successful collaboration, Bybit is  thrilled to announce its new role from a key ecosystem partner to an advisory role, solidifying its position as a leading force in Dubai’s

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ADNOC Gas Announces Record Q2 Net Income of $1.19 Billion

News Desk 1 12/08/2024

Revenue tops $6 billion, for third quarter in a row, driven by stronger domestic gas growth    Continued focus on efficiency drives EBITDA growth to $2.09 billion, up 18% year-on-year Interim dividend of $1.706 billion approved, up 5% on 2023; $3.41 billion to be distributed for the full year Abu Dhabi, UAE – August 12,

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IHC reports impressive 46% revenue growth to AED41.7 billion and 18% net profit jump to AED12.3 billion in H1 2024

News Desk 1 07/08/2024

International Holding Company (ADX:IHC), the global diversified Abu Dhabi-based conglomerate, announced outstanding results for the first half of 2024 with a net profit of AED 12.3 billion, marking an impressive 18% jump compared to the same period last year. Revenue reached AED 41.7 billion, representing a 46% year-on-year increase, driven particularly by sustained growth

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Gradiant Announces Rapid Sales Growth

News Desk 1 06/08/2024

Gradiant, a global solutions provider for advanced water and wastewater treatment, today announced it closed the first half of 2024 with over $500 million in new orders, continuing the momentum from a record first quarter order book of $337 million. This performance marks the fifth year of doubling annual sales and the impact of the […]

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Asteco’s Q2 2024 Report Reveals Sustained Growth In the UAE Real Estate Market

News Desk 1 06/08/2024

According to the Asteco Q2 2024 real estate report, Dubai’s strong economy and attractive lifestyle remain major draws for expatriates. Dubai’s underlying fundamentals are robust, driven by high equity in the real estate market, continued economic growth, infrastructure development and a growing population. The report also highlights that Abu Dhabi’s real estate market is