Business

Arab Bank Group reported net income after tax of $182.4 million as compared to $152.1 million for the same period last year, recording a growth of 20%. During the first quarter of 2021, Arab Bank consolidated the financial statements of Oman Arab Bank under its Group accounts increasing total assets by $8.2 billion to reach $63 billion compared to $51.6 billion for the same period last year. Oman Arab Bank has also recently finalized the acquisition of Al Izz Islamic Bank, a full-fledged Islamic bank, strengthening its presence in the Sultanate of Oman.

The central banks are under pressure of fears of higher inflation around the world, and the investors are closely monitoring how the central banks would react to recent record inflation rates.

The real estate and properties transactions valued at 5.4 billion in total during the week ending 29 July 2021. The sum of transactions was 1,617.

Dubai’s real estate sector has maintained an increasing pace of performance, reflecting the vitality, flexibility and attractiveness of Dubai’s property market by recording 6,388 sales transactions worth AED 14.79 in June 2021, which is the highest in value in eight years, specifically since December 2013 according to the 16th edition of Mo’asher, Dubai’s official sales price index, launched by Dubai Land Department (DLD) in cooperation with Property Finder. The sales transactions in June 2021 are 44.33% higher in terms of volume and 33.2% in value compared to May 2021.

Fitness apps were already on the rise before 2020’s pandemic skyrocketed the entire industry’s revenue numbers even more. The industry is well-placed to build on this momentum, as projections show sustained growth in the coming years. According to data presented by TradingPlatforms.com, global revenue from fitness apps is projected to experience a 34.4% growth in 2021 and reach $13.54B.

In the backdrop of a turbulent economy caused largely by Covid-19, many individuals are looking to add an element of stability to their investment portfolio and to do so, gold has emerged as a popular investment option.