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Financials and Investment News in United Arab Emirates

DIEZ Announces Exceptional Sustainability Achievements in 2022
6/25/2023 - Dubai Integrated Economic Zones Authority (DIEZ), through its economic zones, achieved exceptional sustainability results in 2022, highlighting its commitment to sustainability and its efforts to redu...
Ajman Bank AED 550mn Rights Issue Oversubscribed 7.4 Times
8/7/2023 - Ajman Bank’s AED 550 million Rights Issue saw an overwhelming response indicating oversubscription of 7.4 times, with a total demand of AED 4.1 billion.

The initiative attracted many inter...
Borouge, Borealis Launch New Sustainable Automotive Products Made From Up to 70% Recycled Materials
8/7/2023 -  Borouge, a leading petrochemical company that provides innovative and differentiated polyolefin solutions, and Borealis, one of the world’s biggest polyolefin manufacturers, today announced the launc...
Sharjah Asset Management, IHG Hotels & Resorts Boost Sharjah’s Tourism Industry
8/7/2023 -  IHG Hotels & Resorts and Sharjah Asset Management have announced the signing of a management agreement to bring a voco hotel to Sharjah, UAE.

The new hotel is poised to contribute to the g...
Ajman, UAQ Government Entities Join National ICV Programme
8/7/2023 - Ajman’s Departments of Economic Development and Finance and Umm Al Quwain’s Executive Council have joined the National In-Country Value (ICV) Programme, launched by the Ministry of Industry and Advanc...
SCCI, FDI Office Discuss Ways to Promote Sharjah's Real Estate Sector
8/8/2023 - The Real Estates Sector Business Group, operating under the Sharjah Chamber of Commerce and Industry (SCCI), has discussed with the Sharjah FDI Office (Invest in Sharjah) ways to promote lucrative rea...
ADNEC Services, Kenes Group Partner to Launch Specialised Conferences, Exhibitions in Abu Dhabi
8/8/2023 - ADNEC Services, the event agency arm of ADNEC Group, has partnered with events management company Kenes Group to launch new specialised conferences and exhibitions in Abu Dhabi across multiple sectors...
Dubai International Chamber Attracts Six Multinational Companies And 50 Smes to Dubai During H1 2023
8/8/2023 - Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has announced details of several notable achievements during the first six months of 2023 in attracting foreign d...
Dubai's GDP Grows 2.8% in Q1 2023 to Reach AED111.3 Billion
8/8/2023 - Dubai’s Real Gross Domestic Product (GDP) grew 2.8 percent year-on-year in the first quarter of the year to reach AED111.3 billion surpassing average global growth rates for Q1 2023.

The su...
Yahsat Reports Revenue of AED753 Million in H1 2023
8/8/2023 - Al Yah Satellite Communications Company (Yahsat) announced its consolidated financial results for the six months ended 30th June 2023.

Revenue for the first half of the year was stable at A...
80% of Passenger Flights to Resume By End of 2023: COO of Airport Authority Hong Kong
8/15/2023 - Vivian Cheung Kar-fay, Chief Operating Officer of Airport Authority Hong Kong (AAHK), said that 60 to 65 percent of the number of flights were resumed compared to total flights in 2019 before the COVI...
New Industrial Licences Surge 16.6% in First Year After Abu Dhabi Industrial Strategy Launch
8/15/2023 -  Launched by H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council in June 2022, the Abu Dhabi Industrial Strategy (ADIS) has accele...
Yalla Group Records Aed561 Million in First Half Revenues
8/15/2023 -  Yalla Group Limited today announced its unaudited financial results for the first half of the fiscal year 2023, ending on 30th June.

According to the financial results, Yalla’s H1 revenues...
Ethiopia And Afdb Ink $84.3 Mn Grant Agreement to Enhance Wheat Production
8/16/2023 - The African Development Bank Group (AfDB) has awarded grant funding totalling $84.3 million to Ethiopia to advance wheat production and increase farmers’ incomes.

Ethiopia’s Finance Ministe...
Africa Can Become A Key Link in Global Supply Chains: UNCTAD
8/16/2023 - African economies can become major participants in global supply chains by harnessing their vast resources of materials needed by high-technology sectors and their own growing consumer markets, the Un...
Mro Middle East And Aime Will Return for Record Edition in 2024
8/16/2023 - MRO Middle East and Aircraft Interiors Middle East (AIME) is set to return to Dubai in 2024 for its biggest edition yet, gathering the entire airline supply chain over two days.

The event s...
GDP Up By 0.3%, Employment Up By 0.2% in Euro Area
8/16/2023 -  In the second quarter of 2023, seasonally adjusted GDP increased by 0.3 percent in the euro area and was stable in the EU, compared with the previous quarter, according to a flash estimate published ...
DWTC's Hospitality Division Sees 32% Growth in H1'23
8/16/2023 -  Hospitality by Dubai World Trade Centre (DWTC) has once again proven its culinary prowess with a stellar H1 2023 performance, coupled with a significant medal haul at the recent Emirates Salon Culina...
UAE Suspends 50 Businesses for Failing to Register in Anti-Money Laundering System
8/21/2023 -  For failing to register in the anti-money laundering system (goAML) of the Financial Intelligence Unit (FIU), the UAE’s Ministry of Economy has suspended 50 establishments for three months during the...
CBUAE's Foreign Assets Up to AED592.11 Bn in June
8/21/2023 - The UAE's current account balances and deposits with banks abroad amounted to AED363.23 billion by the end of June, 2023, from AED361.78 in the previous month, according to the latest figures revealed...

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