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World Bank revises Kuwait’s 2024 real GDP upwards to 2.8pcKuwait’s economic growth (real GDP) projection for 2024 was revised by the World Bank to 2.8% y/y, higher than the 2.6% y/y forecasted earlier in January 2024 owing to expectations of phasing out of OPEC+ production cuts, according to Kuwait Financial Centre (Markaz). More… |
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Ajman Bank names Hodges as Group TreasurerAjman Bank, a leading Islamic bank in the UAE, has announced the appointment of Adrian P.L. Hodges, an industry veteran, as the new Group Treasurer. With over three decades of robust experience in treasury and global markets, Hodges brings a wealth of ex More… |
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Steady global growth expected for 2024-25, says OECDThe global economy continues to grow at a modest pace, with a steady global GDP growth of 3.1% in 2024, the same as the 3.1% in 2023, followed by a slight pick-up to 3.2% in 2025, according to the OECD’s latest Economic Outlook. The impact of tight monet More… |
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Tecom Q1 net rises 15% to $79m, occupancy at recordTecom Group, the creator of specialised business districts and vibrant communities, has posted 15% year-on year (YoY) rise in net profit to AED290 million ($79 million) for the first quarter as occupancy levels hit historic levels at 91%. Following recor More… |
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CBI profit grows 19% to $9 million in Q1 2024Commercial Bank International (CBI) has announced its financial results for the first quarter of 2024, logging a 19% net profit before tax growth from AED34 million ($9.25 million) in Q1 2023 to AED40.4 million in Q1 2024, a report said. According to the bank, More… |
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DFM sees record number of new investorsDubai Financial Market (DFM) has revealed that the market attracted 10 times the average number of new investors during the first quarter of this year compared to the five-year period before 2019, a report said. Hamed Ali, DFM Chief Executive Offic More… |
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Janus Henderson enters emerging markets private capital spaceJanus Henderson has partnered with NBK Wealth of the National Bank of Kuwait Group, whereby NBK Wealth’s private investments team will join Janus Henderson as the firm’s new emerging markets private capital division. The transaction is struct More… |
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ADQ plans $2.5bn bond issue on London Stock ExchangeAbu Dhabi Developmental Holding Company (ADQ), an Abu Dhabi-based investment and holding company, announced its inaugural $2.5 billion bond issuance on the London Stock Exchange (LSE) as part of a significant step in diversifying its funding sources and supporting its strategic growth agenda. More… |
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DFM launches Arena for private offeringsDubai Financial Market (DFM), the region’s leading financial market, has unveiled its flagship initiative – Arena by DFM - an innovative platform for initial private offerings. Designed to catalyse growth opportunities for both companies and More… |
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PureHealth posts Q1 2024 net of $133.7m, revenue soars 52pcPureHealth Holding has posted a first-quarter (Q1) 2024 net profit of AED491 million, up by around AED272 million from Q1 2023, with a margin improvement of approximately 2.5 percentage points to 8.0%. In Q1 2024, PureHealth achieved robust revenue growt More… |
