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1 month ago | 
economymiddleeast.com | Anupam Varma
Dubai Investments PJSC reported a net profit before tax attributable to shareholders of AED1.3 billion ($354 million) for the fiscal year ending December 31, 2024, compared to AED1.07 billion during the same period last year, marking a 21 percent increase.
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1 month ago | 
economymiddleeast.com | Anupam Varma
The value of endowment assets in Dubai has risen to AED11.1 billion ($3 billion) in 2024, a 9 percent growth compared to the previous year, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, said.
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1 month ago | 
economymiddleeast.com | Anupam Varma
The Emirates Group is one of Dubai’s most popular brands. Emirates airline, the group’s flagship entity, is one of the world’s best and most recognisable carriers, putting Dubai on the world map. The airline brings in millions of tourists into the UAE every year, helping sustain the boom in tourism that has become a key contributor to the emirate’s GDP.
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1 month ago | 
economymiddleeast.com | Anupam Varma
DP World reported a 9.7 percent growth in revenue to $20 billion for the financial year ended December 31, 2024, the company announced on Thursday. Profit for the year was $1.5 billion, a decrease by 2 percent mainly because of higher finance costs. EBITDA rose by 6.7 percent to $5.5 billion with an adjusted EBITDA margin of 27.2 percent. The revenue growth was primarily because of improved performance from ports and terminals, and contributions from new acquisitions and concessions.
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1 month ago | 
economymiddleeast.com | Anupam Varma
Aldar Investment Properties (AIP) has successfully raised $500 million through a 10-year green sukuk, it announced on Thursday. AIP is a subsidiary of Aldar Properties PJSC and owner-manager of an AED28 billion ($7.6 billion) portfolio of income-generating properties. Strong responseThe issuance was oversubscribed 7.2 times, attracting $3.6 billion in orders, with regional and international investors representing 61 percent and 39 percent of the total transaction allocation, respectively.
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1 month ago | 
economymiddleeast.com | Anupam Varma
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai, has approved a series of policies and initiatives aimed at expanding affordable housing, enhancing education outcomes and supporting independent legal professionals in Dubai.
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1 month ago | 
economymiddleeast.com | Anupam Varma
Binance, the world’s largest cryptocurrency exchange, and MGX, the Abu Dhabi-based AI and advanced technology investor, have announced a landmark $2 billion investment. This transaction, the first institutional investment in Binance to date, marks a significant step in advancing digital asset adoption and reinforcing blockchain’s role in global finance. It is also the single largest investment into a crypto company and the largest investment ever paid in crypto (stablecoin).
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1 month ago | 
economymiddleeast.com | Anupam Varma
Al Etihad Payments and Mastercard have announced a strategic collaboration to launch ‘Jaywan-Mastercard’ co-badged debit and prepaid cards in the UAE. Al Etihad Payments, a wholly owned subsidiary of the Central Bank of the UAE (CBUAE), operates the UAE’s national card switch (UAESWITCH) and manages domestic card scheme Jaywan.
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1 month ago | 
economymiddleeast.com | Anupam Varma
The UAE’s National Investment Strategy 2031, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, is a key milestone in cementing the country’s status as a global investment hub, Minister of Investment Mohamed Hassan Al Suwaidi said.
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1 month ago | 
economymiddleeast.com | Anupam Varma
The International Monetary Fund completed the fourth review of Egypt’s economic reform program and approved $1.2 billion for disbursement. The IMF’s executive board also approved Egypt’s request for an arrangement under the resilience and sustainability facility with access to about $1.3 billion, the lender said in a statement. The latest disbursement under the extended fund facility (EFF) programme brings Egypt’s total purchases under the EFF to about $3.207 billion, 119 percent of quota.
