Sunday 14 August 2022

Eshraq Investments completes acquisition of Goldilocks

Eshraq Investments, an investment Company based in Abu Dhabi, UAE, has completed acquisition of Goldilocks Investment Company Limited shares with Eshraq now owning 99.25% of Goldilocks shares. Following obtaining all regulatory approvals, Eshraq has completed the decrease of the


Yahsat H1 net income soars 50.7pc; revenue at record

Al Yah Satellite Communications Company (Yahsat), the UAE’s flagship satellite solutions provider, has seen first-half (H1) net income soar 50.7% to AED167 million ($45 million) year-on-year, driving a strong net margin of 22.1%.   Underpi


IHC achieves new net profit record of $2.82bn for H1

International Holding Company (IHC), a diversified Abu Dhabi-based conglomerate, has posted new record profit in the first half of 2022, as the company continues its aggressive investment strategy.   The solid business performance across all IHC subsidiaries has


UAE consumer spending increases by 22% in H1

Overall spending in the UAE increased by 22% in January to June 2022 (H1) from the same period last year, driven by growth of 16% in retail spending and 31% in non-retail sectors, a report said. The latest State of the UAE Retail Economy report released by Majid Al Futtaim, the l


DIFC launches global family business and private wealth centre

Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, has launched the world’s first Global Family Business and Private Wealth Centre. DIFC is the first financial centre in the world to cre


Inflation, cybersecurity key concerns for UAE investors

Inflation, cybersecurity and risk of a potential recession are key concerns for UAE investors, with as many as 45% of them holding off on big purchases and 72% concerned about the long-term impact on retirement savings, a report said. Despite inflation concerns cash holdings saw


Gross Premium Written to grow by 5-10pc in KSA: S&P

S&P Global Ratings foresee Gross Premium Written (GPW) in Saudi Arabia to grow by approximately 5%-10% in 2022. GPW is a closely monitored earnings metric because it reflects the growth or decline in the new insurance business.    The GPW growth in Saud


Bupa Arabia tops global and regional rankings

Bupa Arabia has won a number of regional and international awards as well as topped global rankings in the health insurance, digital innovation, and sustainability fields among others.    The leading health insurer topped Brand Finance's list of the mos


Bahrain Car Parks Company Q2 net slides 20pc to $360,875

Bahrain Car Parks Company (Amakin) has seen its net profit for the second quarter of 2022 fall 20% to BD136,000 ($360,875) from BD170,000 in Q2, 2021 largely due to an adverse operating climate.    However, its operating income jumped of 23% to BD546,000 co


KSA’s MISA closes 49 deals worth $925m in Q2

Buoyed by the ambitious objectives of the National Investment Strategy, the Ministry of Investment of Saudi Arabia (MISA) has signed 49 major investment deals worth at least $925 million in the second quarter of 2022.    This is set to crea

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