News

DUBAI / WAM Aramex today announced its financial results for the first quarter ending 31st March 2024, with net profit nearly doubling, reaching AED47 million, marking two consecutive quarters of strong performance. The net profit margin improved to 3%. In a statement on Friday, the company reported an 8% year-on-year (YoY) increase in group revenues, with strong contributions from all ...

HONG KONG / WAM Sanad, the global aerospace engineering and leasing solutions leader, wholly owned by Abu Dhabi’s sovereign investor Mubadala Investment Company, unveiled a strategic transaction between Sanad and CFM Materials, the world’s largest provider of used serviceable components for CFM International engines, during the International Society of Transport Aircraft Trading (ISTAT) Asia in Hong Kong. The sale of ...

ABU DHABI / WAM Khaled Mohamed Balama, Governor of the Central Bank of the UAE, and Perry Warjiyo, Governor of Bank Indonesia, signed a Memorandum of Understanding supporting the steady growth of trade relations between the two countries through the establishment of a framework that promotes the use of local currencies for bilateral transactions. The partnership between the UAE and ...

DUBAI / WAM Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has concluded its week-long trade mission to Southeast Asia by arranging 180 bilateral business meetings between companies from Dubai and Vietnam. The trade mission was organised as part of the “New Horizons” initiative spearheaded by Dubai International Chamber, which aims to drive ...

DUBAI / WAM CABSAT 2024, the premier conference for the broadcast, satellite, and content sectors, is slated to revolutionise media and entertainment with its innovative exhibitions and features for participants. The latest edition of CABSAT, taking place from 21st to 23rd May at Dubai World Trade Centre, will present innovative hall experiences for all attendees, while also highlighting cutting-edge technologies ...

VIETNAM / WAM Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said today that Dubai’s investments in Vietnam totalled approximately AED280 million between 2019 and 2023, fostering 4,500 job opportunities within the Vietnamese market. During the second leg of the trade mission organised by Dubai Chamber International to Indonesia and Vietnam, Lootah told the Emirates News Agency (WAM) ...

DUBAI / WAM The Dubai Financial Services Authority (DFSA), in 2023, marked a remarkable 25% increase in licensing from the previous year, bringing the total number of licensed firms to 791. This surge underscores the growing confidence in the DFSA’s regulatory framework and the attractiveness of the region for financial services firms. In its annual report for 2023, DFSA showcased ...

ABU DHABI / WAM The 13th edition of AIM Congress (Annual Investment Meeting) concluded with resounding success after three days of dynamic discussions, innovative exhibitions, and fruitful networking sessions at ADNEC. With the support of UAE Industry of Advanced Technology and the Abu Dhabi Department of Economic Development as lead partners, AIM Congress 2024 convened global investors, entrepreneurs, and policymakers ...

DUBAI / WAM Emirates has announced it will resume flight operations to Edinburgh starting from 4 November 2024. The highly anticipated return to the Scottish capital will complement the airline’s current A380 daily flight to Glasgow and offer customers 14 weekly flights to/from the country. The Dubai to Edinburgh route will be served utilising the Emirates A350-900 aircraft in a ...

DUBAI / WAM Al Ansari Financial Services PJSC (DFM: ALANSARI), (the Group), today reported its financial results for the first quarter of 2024 (Q1’24). According to First Quarter 2024 Financial Results, operating Income saw a 4.3% decline due to the pressure from the parallel market within major remittance corridors and the uncertainty prevailing macroeconomic conditions in the region. Net profit ...