Business & Money | Monday 13 May, 2024 12:17 am

Yaqeen S&P ESG MENA ETF starts IPO today

Yaqeen S&P ESG MENA ETF launched its initial public offering (IPO) on the Saudi Exchange (Tadawul) today, May 12. The offering period is 15 business days and the fund manager has the right to extend the IPO to extend up to 45 additional business days. The public, open-ended ETF aims...

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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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Government | Sunday 12 May, 2024 10:04 am

Dubai International Chamber organises 180 meetings between companies from Dubai, Vietnam

Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has concluded its week-long trade mission to Southeast Asia by arranging 180 bilateral business meetings between companies from Dubai and Vietnam. The trade mission was organised as part of...

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Technology & IT | Sunday 12 May, 2024 10:02 am

CABSAT 2024 to highlight latest innovations in media, entertainment sectors

CABSAT 2024, the premier conference for the broadcast, satellite, and content sectors, is slated to revolutionise media and entertainment with its innovative exhibitions and features for participants. The latest edition of CABSAT, taking place from 21st to 23rd May at Dubai World Trade Centre, ...

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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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