Business & Money | Sunday 12 May, 2024 12:39 pm

Saudi imports from GCC hit SAR 6.8B in February

Saudi Arabia’s imports from GCC countries rose 19% year-on-year (YoY) to SAR 6.78 billion in February 2024, according to a recent report by the General Authority for Statistics (GASTAT). UAE accounted for 65%, or SAR 4.4 billion of the total Saudi imports, up 16%...

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Business & Money | Sunday 12 May, 2024 10:07 am

Aramex doubles net profit in Q1 2024

Aramex today announced its financial results for the first quarter ending 31st March 2024, with net profit nearly doubling, reaching AED47 million, marking two consecutive quarters of strong performance. The net profit margin improved to 3%. In a statement on Friday, the company reported an 8% ...

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Business & Money | Sunday 12 May, 2024 9:58 am

Zain KSA reports revenue of SAR 2.5 billion in Q1 2024

Zain KSA announced the financial results for the first quarter of 2024, with revenue of SAR 2.5 billion, an increase of 4.7% compared to the same period in 2023. Zain KSA reported a net profit of SAR 67 million compared to SAR 1.1 billion in the first quarter of last year. The decline resulted from ...

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Business & Money | Sunday 12 May, 2024 9:55 am

Sanad announces strategic sale transaction with CFM Materials

Sanad, the global aerospace engineering and leasing solutions leader, wholly owned by Abu Dhabi's sovereign investor Mubadala Investment Company, unveiled a strategic transaction between Sanad and CFM Materials, the world's largest provider of used serviceable components for CFM International...

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Business & Money | Sunday 12 May, 2024 9:52 am

Dubai investments in Vietnam reach AED280 million during 5 years: Dubai Chambers President & CEO

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said today that Dubai's investments in Vietnam totalled approximately AED280 million between 2019 and 2023, fostering 4,500 job opportunities within the Vietnamese market. During the second leg of the trade mission organised by...

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Business & Money | Sunday 12 May, 2024 9:51 am

Central Bank of UAE, Bank Indonesia sign MoU to promote use of local currencies for bilateral transactions

Khaled Mohamed Balama, Governor of the Central Bank of the UAE, and Perry Warjiyo, Governor of Bank Indonesia, signed a Memorandum of Understanding supporting the steady growth of trade relations between the two countries through the establishment of a framework that promotes the use of local...

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Business & Money | Sunday 12 May, 2024 9:49 am

Arab bourses' market cap hit $4.36 trillion at end of April 2024: Arab Monetary Fund

The market cap of Arab stock exchanges exceeded $4.361 trillion at the end of April 2024, according to the Arab Monetary Fund (AMF). The monthly bulletin data of the AMF said that the market value of the Abu Dhabi Securities Exchange reached $754.7 billion, while that of the Dubai Financial...

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Business & Money | Sunday 12 May, 2024 9:47 am

AIM Congress 2024 concludes with high attendance, partnerships forged for future growth

The 13th edition of AIM Congress (Annual Investment Meeting) concluded with resounding success after three days of dynamic discussions, innovative exhibitions, and fruitful networking sessions at ADNEC. With the support of UAE Industry of Advanced Technology and the Abu Dhabi Department of Economic ...

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Business & Money | Sunday 12 May, 2024 9:44 am

Abu Dhabi non-oil exports to Poland soars 253% in 2023

Abu Dhabi’s non-oil exports to Poland have soared 253% in 2023, reflecting success of efforts made by the Abu Dhabi Department of Economic Development (ADDED) to deepen economic relations. This was announced at the 2nd Business Forum between Abu Dhabi and Poland, held in Silesia Region,...

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Business & Money | Sunday 12 May, 2024 9:39 am

Saudi Cable names Al Bilad Capital as underwriter

Saudi Cable Co. appointed Al Bilad Capital as an underwriter for the company’s capital increase via a SAR 400 million rights issue at SAR 10 a share, according to a statement to Tadawul. Saudi Cable will reveal updates as regards submitting the capital increase request to the Capital Market...

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