Abu Dhabi’s Alef Education sustains strong growth in 2024, achieves revenues of $206.6 million
Economy Middle East » Banking & Finance
by Elias Al Helou
1d ago
Abu Dhabi-based Alef Education Holding Plc has announced its financial results for the period ending December 31, 2024, marking the third set of results since its debut on Abu Dhabi Securities Exchange (ADX) in June 2024. The company reported a 6 percent increase in profit before tax to AED491.7 million ($133.9 million), driven by a […] The post Abu Dhabi’s Alef Education sustains strong growth in 2024, achieves revenues of $206.6 million appeared first on Economy Middle East ..read more
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AD Ports Group posts net profit of $484.6 million in 2024, revenue up 48 percent to $4.7 billion
Economy Middle East » Banking & Finance
by Elias Al Helou
2d ago
AD Ports Group revealed its preliminary unaudited financial results for the fourth quarter and full year ending December 31, 2024. Profit Before Tax and Minorities rose by 45 percent year-over-year to AED2.04 billion in 2024, while the Group’s Total Net Profit saw a 31 percent year-over-year increase to AED1.78 billion ($484.6 million), resulting in a […] The post AD Ports Group posts net profit of $484.6 million in 2024, revenue up 48 percent to $4.7 billion appeared first on Economy Middle East ..read more
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Estithmar Holding’s revenues rise by 44 percent to $1.15 billion in FY2024
Economy Middle East » Banking & Finance
by Elias Al Helou
2d ago
Qatar’s Estithmar Holding Q.P.S.C. announced its financial results for the year ended December 31, 2024, approved by the company’s Board of Directors. The company recorded a 44 percent increase in revenues, reaching QAR4.2 billion ($1.15 billion), compared to QAR2.9 billion in 2023. The gross profits of the company reached QAR1 billion, up from QAR801 million […] The post Estithmar Holding’s revenues rise by 44 percent to $1.15 billion in FY2024 appeared first on Economy Middle East ..read more
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Nissan, Honda call off $60 billion merger talks amid increasingly volatile market environment
Economy Middle East » Banking & Finance
by Yara Abi Farraj
3d ago
Nissan and Honda announced today that they have ended talks to merge and create a $60 billion auto group “to prioritize speed of decision-making and execution of management measures in an increasingly volatile market environment heading into the era of electrification,” said Honda in a statement. Following the announcement, Nissan shares fell 0.34 percent while […] The post Nissan, Honda call off $60 billion merger talks amid increasingly volatile market environment appeared first on Economy Middle East ..read more
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WGS 2025: IFC provided over $2.3 billion in financing to UAE-based multinational companies in 2024
Economy Middle East » Banking & Finance
by Yara Abi Farraj
3d ago
The International Finance Corporation (IFC) has provided over $2.3 billion in financing to UAE-based multinational companies by the end of 2024, reflecting the strength of cooperation between the two sides. During the last financial year, the Washington-based organization invested $56 billion in emerging markets. Makhtar Diop, managing director of the IFC, told WAM on the sidelines […] The post WGS 2025: IFC provided over $2.3 billion in financing to UAE-based multinational companies in 2024 appeared first on Economy Middle East ..read more
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Egypt issues new guide to help investors understand rights, tax obligations
Economy Middle East » Banking & Finance
by Elias Al Helou
3d ago
Egypt has revealed an new extensive tax guide that details the rights and responsibilities of investors, aiming to enhance their understanding of rights and tax obligations. This initiative is designed to reassure both current and prospective investors regarding their future tax responsibilities. Rasha Abdel Aal, head of the Egyptian Tax Authority (ETA), reiterated the commitment […] The post Egypt issues new guide to help investors understand rights, tax obligations appeared first on Economy Middle East ..read more
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OPEC Fund loans $51.89 million to fuel Türkiye’s sustainable growth
Economy Middle East » Banking & Finance
by Economy Middle East
3d ago
The OPEC Fund for International Development (the OPEC Fund) has signed a €50 million ($51.89 million) loan agreement with the Industrial Development Bank of Türkiye (TSKB) to support investments in renewable energy, energy efficiency, climate adaptation, climate-related equipment production, and circular economy initiatives, according to a report from state media. The financing, provided through an […] The post OPEC Fund loans $51.89 million to fuel Türkiye’s sustainable growth appeared first on Economy Middle East ..read more
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ADNOC L&S announces revenue of $3.55 billion in 2024, up 29 percent year-on-year
Economy Middle East » Banking & Finance
by Elias Al Helou
3d ago
ADNOC Logistics and Services plc (ADNOC L&S) revealed its fourth quarter (Q4) and full-year 2024 financial results, reporting revenue of AED13,035 million ($3,549 million or $3.55 billion) for the year, marking a 29 percent increase compared to 2023. EBITDA rose by 31 percent to AED4,219 million ($1,149 million or 1.15 billion) during this period, propelled […] The post ADNOC L&S announces revenue of $3.55 billion in 2024, up 29 percent year-on-year appeared first on Economy Middle East ..read more
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Saudi Central Bank permits 4 fintech startups to operate under Regulatory Sandbox
Economy Middle East » Banking & Finance
by Elias Al Helou
3d ago
The Saudi Central Bank (SAMA) has granted approval for four new fintech startups to experiment with their innovative solutions within SAMA’s Regulatory Sandbox. The startups include SpireTech, which focuses on open banking, The Lending Hub and Soar for peer-to-peer (P2P) lending, and Ldun, which specializes in factoring for micro, small, and medium enterprises. This initiative, […] The post Saudi Central Bank permits 4 fintech startups to operate under Regulatory Sandbox appeared first on Economy Middle East ..read more
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WGS 2025: Sallianne Taylor, EMEA head of Government Relations, Bloomberg LP on strengthening financial markets
Economy Middle East » Banking & Finance
by Economy Middle East
4d ago
As data and AI revolutionize governance, the financial and regulatory landscapes are experiencing a profound transformation. At the World Government Summit 2025, Sallianne Taylor, EMEA head of Government Relations at Bloomberg LP,  speaks to Economy Middle East on the strategies policymakers must adopt to enhance transparency, streamline decision-making, and ensure the efficiency of financial ecosystems. […] The post WGS 2025: Sallianne Taylor, EMEA head of Government Relations, Bloomberg LP on strengthening financial markets appeared first on Economy Middle East ..read more
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