Saturday 24 February 2024

GCC to outperform global economy in 2024, says report

The economies of the UAE and Gulf countries will outpace the global forecast for 2024, helped by the domestic multi-year investment cycle in the region, according to First Abu Dhabi Bank’s Global Investment Outlook (GIO) 2024 Report: ‘Making a positive impact’.


UAE to host the 2024 ACFE Fraud Conference Middle East

The UAE will host the Association of Certified Fraud Examiners (ACFE) Fraud Conference Middle East 2024. Organised by the UAE Accountability Authority (UAEAA), this prestigious event will take place on February 26 and 27 at the Fairmont Bab Al Bahr Hotel in Abu Dhabi.   


Dubai's economy would grow by around 5pc this year: Al Ghurair

Dubai's economy would grow by around 5% this year, predicts Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers. He mentioned that Dubai benefits from robust infrastructure, an appealing business environment, and an expected decrease in interest rates starting in the middle of the y


Dubal Holding posts robust 2023 net profit of $490m

Dubal Holding (DH), the investment arm of the Dubai Government in the commodities and mining, power and energy, and industrial sectors, posted a net profit of AED1.79 billion ($490 million) in 2023. DH had a remarkable year due to its international acquisition, new expansion as well as e


$77bn Bahraini Islamic finance industry well-developed: Fitch

The $77-billion Bahraini Islamic finance industry is well-developed, with Fitch rating over 80% of the US dollar sukuk outstanding from Bahrain ($11.4 billion), with 90.3% rated ‘B+’ at end-2023.   Fitch Ratings expects continued gro


Vista sees strong Mideast growth; on-fleet hours up 31pc

Vista, a leading global private aviation group, said it witnessed strong growth across the GCC, with a remarkable 31% increase in on-fleet hours and a 33% rise in the number of flights, as it outlined its performance in the Middle East region during the 2023 financial year. Innovating


flydubai posts its strongest-ever performance in 2023

Dubai-based carrier flydubai announced on February 22, 2024, record-breaking annual results for its financial year ending December 31, 2023, marking the carrier’s strongest-ever performance. Commenting on the airline’s full-year results for 2023, Sheikh Ahmed bin Saeed Al M


Bud Financial, Fintech Galaxy in tie-up to boost Open Banking

Data intelligence platform Bud Financial (Bud) is joining forces with Fintech Galaxy, a leader in Open Banking and financial innovation, to strengthen the Open Banking scene in the Mena region. The two firms will also transform how financial institutions (FIs), FinTechs, and businesses integr


Kuwait power rental group JTC profit up 37pc in 2023

JTC, a leading regional provider of ports management, logistics, warehousing, equipment leasing and power rental services based in Kuwait, has recorded solid results for FY 2023 registering a 37% jump in its net profit over the previous year.   Announc


Mubadala buys remaining stake in Truist Insurance Holdings

Abu Dhabi-based Mubadala Investment Company has partnered with leading private equity firms, Stone Point Capital and Clayton, Dubilier & Ross, to strike a deal with US-based Truist Financial Corporation to buy the remaining stake in its insurance subsidiary - Truist Insurance Holdings.

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