Friday 3 February 2023

Abu Dhabi Chamber launches its new strategy for 2023-2025

The Abu Dhabi Chamber of Commerce and Industry (ADCCI) today (February 2) launched its new three-year strategy spanning from 2023 to 2025, which centres on serving the Abu Dhabi economy and solidifying its  position as the 'Voice of the Private Sector.'  


EPC leader NMDC’s net profit grows 30pc to $350m in 2022

National Marine Dredging Group (NMDC), a world-leading EPC and marine dredging group with over $15 billion of projects under execution, has grown its net profit by 30% in 2022 to reach AED1.3 billion ($350 million). This is compared to the net profit of AED1 billion reported


CBB raises key interest rate by 25 basis points

Central Bank of Bahrain (CBB) has decided to raise its key policy interest rate  on the one-week deposit facility from 5.25% to 5.50%.    The CBB has also decided to raise the overnight deposit rate from 5.00% to 5.25%, the four-week deposit rate from


Adani calls off $2.5bn FPO after market setback

Indian billionaire Gautam Adani's Adani Enterprises Ltd (AEL) has decided not to go-ahead with the fully subscribed $2.5 billion Follow-on Public Offer (FPO).   This follows the unprecedented hammering of Adani stocks at the Indian stock market after US-base


Saudi Arabia signs 13 key investment deals with Oman

The Ministry of Investment of Saudi Arabia (MISA) has concluded hosting a senior delegation from Oman, which culminated in 13 MoUs being signed covering vital sectors such as biochemicals, energy, mining, financial investment, logistics, maritime transport, information technology among other


Tarabut Gateway announces two senior appointments

Tarabut Gateway, Mena’s leading regulated open banking platform, has appointed Oussama Bouhcine as Vice President of Customer Success and Services and Derek Lakin as Vice President of Engineering.   With over a decade of experience in project management fo


BAB collaborates with members to advance financing for SMEs

The Bahrain Association of Banks (BAB) has addressed ways to overcome the challenges facing many small and medium enterprises (SMEs) when applying for financing from banks.   "We all know how important SMEs are, which make up more than 95% of the number of


ENBD REIT net asset value for Q3 2022 soars to $173m

ENBD REIT, a sharia-compliant real estate investment trust managed by Emirates NBD Asset Management, has announced that its net asset value (NAV) for the third quarter of 2022 rose to $173 million ($0.69 per share), up from $168 million the previous year.   This


India to increase capex by massive 33% next financial year

India has announced plans to increase capital expenditure by 33 per cent to Rs 10 lakh crores ($122 billion), which will account for 3.3 per cent of the GDP, in the next financial year.   Presenting the 2023-24 Union Budget in Parliament, Finance Minister Nirmal


Yokogawa makes $10m Series B investment in Ideation3X

Yokogawa Electric Corporation has made a $10 million Series B investment in Ideation3X Pte Ltd (i3X), a Singapore-based venture company that is targeting the rapidly expanding integrated solid waste management (ISWM) sector in India.    i3X adopts a process

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