Banking & Finance

DIFC revenues grow 37 percent to record $484 million in 2024

Center now houses 6,920 active companies, a 25 percent increase from 5,523 in 2023

e& enterprise collaborates with PayPal for enhanced digital payments solutions

Agreement enables UAE businesses to seamlessly integrate PayPal, attracting a broader international customer base

Bank of Sharjah acts as mandated lead arranger, bookrunner in $155 million loan for ‘Daewoo Engineering’

This three-year facility, arranged with regional banks, supports Daewoo’s global working capital needs

Elon Musk’s bid for OpenAI rejected: What’s next for the AI giant?

Musk's bid for OpenAI aims to prevent the organization from shifting to a profit-driven model

Dubai’s Emaar Properties posts $9.7 billion in revenue, $5.1 billion profit following record year

Property sales reached $19 billion, a 72 percent increase from $11 billion in 2023 

Abu Dhabi’s Alef Education sustains strong growth in 2024, achieves revenues of $206.6 million

The company saw a 6 percent rise in profit before tax to $133.9 million, driven by strong contracts

AD Ports Group posts net profit of $484.6 million in 2024, revenue up 48 percent to $4.7 billion

EBITDA grew 69 percent year-over-year to $1.2 billion, resulting in a 26.1 percent margin

Estithmar Holding’s revenues rise by 44 percent to $1.15 billion in FY2024

The company's net profit increases by 20 percent to $115.6 million

Nissan, Honda call off $60 billion merger talks amid increasingly volatile market environment

Honda CEO says the company wants to think about the possibility of collaborating with companies other than Nissan and Mitsubishi Motors

WGS 2025: IFC provided over $2.3 billion in financing to UAE-based multinational companies in 2024

During the last financial year, the Washington-based organization invested $56 billion in emerging markets

Egypt issues new guide to help investors understand rights, tax obligations

This initiative is designed to reassure both current and prospective investors regarding their future tax responsibilities

ADNOC L&S announces revenue of $3.55 billion in 2024, up 29 percent year-on-year

EBITDA rose by 31 percent to $1.15 billion during this period, propelled by robust performance across all business sectors

Saudi Central Bank permits 4 fintech startups to operate under Regulatory Sandbox

This highlights SAMA’s ongoing commitment to advancing the Saudi fintech sector, promoting financial inclusion and innovation

OPEC Fund loans $51.89 million to fuel Türkiye’s sustainable growth

The deal aims to support investments in renewable energy, energy efficiency, climate adaptation, climate-related equipment production, and circular economy initiatives

Abu Dhabi’s EMSTEEL delivers $2.25 billion in revenue for 2024

The company realized a solid Profit before tax of $117.6 million and Net Profit after tax of $106.7 million

Abu Dhabi’s IHC reports FY2024 revenue of $25.3 billion, 54.4 percent growth

Strong financial performance stemmed from robust contributions in Real Estate, Construction, Marine, and Dredging

DEWA announces record annual revenue of $8.43 billion for 2024

The Authority achieved EBITDA of $4.27 billion and net profit after tax of $1.97 billion

ADNOC Distribution posts record $1.05 billion EBITDA for FY 2024, up 4.8 percent year-on-year

Record performance highlights strong fuel volumes, retail growth, and contributions from Saudi Arabia and Egypt

WGS 2025: UAE launches annual federal budget yearbook 2025 “Empowering the Future of Generations to Come”

Comprehensive analysis of financial and non-financial data to enhance transparency and raise financial awareness

UAE Ministry of Finance unveils cabinet decision to introduce top-up tax for multinational enterprises

The UAE DMTT is closely aligned with the GloBE Model Rules issued by the Organisation for Economic Co-operation and Development (OECD)

IMF considers new funding for Egypt amid rising costs

Cairo currently benefits from an $8 billion IMF financing agreement expanded in 2022 for economic support

Central Bank of Oman launches 73rd issue of Government Development Bonds sized at $259.7 million

New offering has a maturity period of five years and a coupon rate of 4.60 percent per annum