finance

  • Another month of successful sales for Maserati

    Maserati returns excellent sales results for the month of August on all the main European markets.

  • Apollo Global exits Ahuja Constructions’ super luxury Mumbai residential project at 69.35 Million USD

    NYSE-listed global private equity fund Apollo Global Management has made an exit from super-luxury residential project Ahuja Towers of Mumbai-based Indian real estate company Ahuja Constructions' at approximately 69.35 Million USD (conversion rate as on date of exit: Rs 460 crores). 

  • Arab Bank Group announces a net Profit of USD 424.9 millionin the first half of 2016

    Arab Bank Group delivered solid financial results for the period ending June 2016, recording net profit after taxes and provisions of USD 424.9 million compared to USD 422.9 million for the same period last year. The results were drivenby the Bank’s well diversified businessmodelwhich enables itto perform consistently and withstandthe volatile market challenges.

  • Arab Bank Group profits grow by 7% to $643 million for nine month 2018

    Arab Bank Group reported net income after tax for the nine month period ended 30 September 2018 of $643 million compared to $601 million in the prior period, recording a growth of 7%. The Group’s net income before tax grew by 8% to reach $865 million with net operating income reaching $ 988 million and recording a growth of 9%.

  • Arab Bank Group reports 20% growth in net profits and the Board of Directors recommends 30% distribution of Dividends

    Arab Bank Group announced its 2016 results reporting a growth of 20% in net profits. Net operating income before provisions and taxes exceeded US $1.1 billion, whilst the Group’s net profit after tax reached USD 533 million for the year 2016 as compared to US $ 442 million for 2015.

  • Arab Bank Group reports profits of $436 million for first half of 2018

    Arab Bank Group reported net income after tax for the six months period ended 30 June 2018 of $ 436 million compared to $415 million in prior period, recording a growth of 5%. The Group’s net income before tax grew by 6.4% to reach $582 million with net operating income reaching $ 668.5 million and recording a solid double digit growth of 13%.

  • Arab Bank Group Reports USD 617.9 Million in Net Profits for the Third Quarter of 2016

    Arab Bank Group continued to achieve robust results during 2016, reporting net profit after tax and provisions for the period ending September 2016 of USD 617.9 million, compared to USD 615.1 million in the same period last year, while the Group’s net profit before tax reached USD 815.8 million. The Bank maintains a healthy capital base with shareholders equity standing at USD 8.3 billion.

  • Arab exports to Brazil touches USD 3.377 billion during H1 of 2015

    According to the recent statistics released by Brazil’s Ministry of Development, Industry and Foreign Trade and compiled by the Arab-Brazilian Chamber of Commerce, Arab Nations exported USD 3.377 billion worth of products to Brazil during first half of 2015. The growing volume of export reflects thriving trading relations between the South American country and Arab region with both parties keen to explore more business opportunities.

  • Arab-Brazilian Chamber of Commerce reveals UAE & Saudi Arabia among top importers of Brazilian shoes during Q1 2015

    The Arab-Brazilian Chamber of Commerce (ABCC) has revealed that two Arab states were among the top importers of Brazilian shoes during the first quarter of 2015, demonstrating anew the steadily growing trade relations between the region and the South American nation. The ABCC cited figures recently released by the Brazilian Footwear Industry Association (Abicalçados) showing the significant increase in the UAE’s and Saudi Arabia’s Brazilian shoe imports.

  • Aramex Net Profit Surges 26% in Q2 2018

    Aramex (DFM: ARMX), the leading global provider of comprehensive logistics and transportation solutions, today announced its financial results for the second quarter and first half year ended 30th June 2018.

  • Artificial Intelligence Boosts UAE GDP by USD 96 Billion by 2030

    Rapid adoption of artificial intelligence (AI) solutions will increase the UAE’s GDP by USD 96 billion by 2030, enabling organizations to better meet and predict customer and citizen trends and drive digital business innovation.

  • Arzan Wealth Delivers Strong Results with Sale of VW Warehouse in Germany

    Arzan Wealth (DIFC) Limited (‘Arzan Wealth’), a Dubai-based advisory firm regulated by the Dubai Financial Services Authority, is pleased to announce that it has advised on the successful sale of the German warehouse used as a spare parts storage and the distribution center by Volkswagen AG, Germany (“VW Property”).

  • Association of Accounting Technicians Introduces New VAT Qualification to Support UAE Businesses

    Business leaders from around the world came together recently to mark the launch of a new VAT qualification by the Association of Accounting Technicians (AAT), the world’s leading professional body for technical accountants and bookkeepers. The qualification has been designed to support individuals and companies in the GCC region in getting up to speed with the new VAT regulations and help them understand how the tax affects their business.

  • Asteco Reports Further Declines in Rental Rates across Abu Dhabi, Al Ain

    Abu Dhabi Real Estate Report Q2 2018 by Asteco, a leading property services company in the UAE, has recorded a continued decline in villa and apartment rental rates across all asset classes in Abu Dhabi and Al Ain. The quarterly report also highlights the current and anticipated handovers of key projects across the emirate.

  • August and September expected to be positive for gold prices with the probability of delivering a 70% positive return - Century Financial Brokers Weekly Market Report

    Currencies

    Heikin Ashi suggest exhaustion in downtrend

    Australian economic data has been tending to outperform relative to economists’ expectations. A similar outcome here could increase RBA rate hike bets. At the moment, overnight index swaps are pricing in a better than even chance of 55.1 percent that the central bank will raise rates in July 2019. The following week offers a plethora of event risk for the Aussie Dollar and we shall begin with domestic ones. On Wednesday, Australia’s second quarter inflation report will cross the wires.

  • Australian Islamic Finance Juggernaut Moving Forward with Middle-East Expansion

    Equitable Financial Solutions (EFSOL), Australia's largest, international Islamic finance company, headquartered in Sydney, is today pleased to announce the establishment of its Dubai office at Emirates Towers, Shaykh Zayed Road. EFSOL is actively pursuing its Middle-East expansion strategy, following the successful establishment of its ASEAN office based in Singapore, last April 2016.

  • Average Costs for Solar and Wind Electricity Could Fall 59% by 2025

    The average costs for electricity generated by solar and wind technologies could decrease by between 26 and 59 per cent by 2025, according to a report released today by the International Renewable Energy Agency (IRENA). The report, The Power to Change: Solar and Wind Cost Reduction Potential to 2025, finds that with the right regulatory and policy frameworks in place, solar and wind technologies can continue to realise cost reductions to 2025 and beyond.

  • AVIVO Group buys majority stake in Kalium Group & Aesthetica Clinics

    AVIVO Group – a leading healthcare services provider in GCC with 32 healthcare facilities under its umbrella, announced today that it has successfully completed the purchase of majority stake in   KALIUM Group, a well-established group in the field of medical aesthetics with a regional distribution company, clinics and educational institutes.

  • AW Rostamani acquires majority stake in UK car retailer

    AW Rostamani has acquired a majority stake in Brayleys, the leading London and South East England car retailer, for an undisclosed sum. With annual revenues in excess of $2 billion and a heritage of over 50 years, this marks the AW Rostamani’s first investment in the UK’s motor retail sector.

  • Bahrain tourism industry to reach US$1 billion by 2020

    The tourism industry in the Kingdom of Bahrain is growing rapidly and is expected to reach US$1 billion by 2020, according to figures released ahead of Arabian Travel Market 2017, which takes place at the Dubai World Trade Centre April 24-27.