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Riyadh to host World Investment Conference in NovemberSaudi Arabia will host a major global investment conference in November, bringing together a range of speakers to discuss global investment trends and opportunities. The 28th World Association of Investment Promotion Agencies (WAIPA) World Investment Conferenc More… |
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Alkhabeer Capital launches IPO of its traded fund unitAlkhabeer Capital, a prominent asset manager specialising in shari’a-compliant investments, financial services and brokerage services, today (April 28) announced the launch of the initial public offering (IPO) of the Alkhabeer Diversified Income Traded Fund 2030 units on the Saudi Excha More… |
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DIFC records 23% growth in insurance underwriting volumesDubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa and South Asia (MEASA) region, has consolidated its position as the principal hub for the (re)insurance industry, with the highest gross written premiums (GWP) recorded in its 20-year hist More… |
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Arab Bank Group Q1 profit surges 17pc to $253mArab Bank Group has reported solid results for the first quarter with a 17% jump in its net income after tax, reaching $252.8 million from $216.3 million last year. Announcing the results for the three-month period ended March 31, 2024, Arab Ba More… |
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Gulf Air to soon restart flights to Iraqi citiesBahrain's national airline Gulf Air has announced the resumption of its flights to the Republic of Iraq from its hub in Manama. Gulf Air’s first flight to Iraq was launched in 1974 and slowly it expanded to Baghdad, Najaf and Erbil cities. The More… |
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United Arab Bank reports net profit of $18 million for Q1United Arab Bank has announced its financial results for the three months ended March 31, 2024, reporting a net profit after tax of AED68 million ($18 million) for the first three months in 2024 as compared to net profit of AED55 million for the first three months in 2023, a report said. More… |
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Aggregate gross loans in GCC hit $2trn: Kamco InvestOutstanding credit facilities for GCC banks witnessed a healthy q-o-q growth of 2.1% during Q4-2023 with aggregate gross loans reaching $2 trillion, according to Kamco Invest, a regional non-banking financial powerhouse based in Kuwait. The y-o-y growth More… |
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Emirates Islamic Q1 net jumps 35pc to record $221mEmirates Islamic net profit surged to a record AED811 million ($221 million) in the first quarter of 2024, up 35% year-on-year, underpinned by a robust 19% growth in total income, propelled by higher funded and non-funded income streams. Net profit margin was at 4.7%. More… |
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ADCB Q1 net before tax jumps 26pc to $660mADCB has continued its growth momentum into 2024, delivering a first quarter (Q1) net profit before tax of AED2.431 billion ($660 million), an increase of 26% year on year. Net profit after tax was AED2.139 billion, with a return on average tangible equity of 14.1%. More… |
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Mashreq's net profit soars 25% to $544.5m in Q1Dubai-based Mashreq's net profit soared to AED2 billion ($544.54 million) in the first quarter of 2024, marking a substantial 25% increase year-on-year, the bank said. It said the results are despite the new 9% corporate tax imposed from January 1, 2024. More… |
