News

Mubadala Capital, fully owned by Mubadala Investment, has signed a strategic partnership with Ceviora Holding Group to enhance asset management efforts in the region.

Sharjah Airport announced the results of air traffic, passenger movement, and cargo for the third quarter of 2024, noting a significant improvement in numbers compared to previous periods.

The Dubai Chamber of Digital Economy has signed a memorandum of understanding with the Geneva Chamber of Commerce, Industry and Services to enhance cooperation and promote digital economic initiatives.

The Ras Al Khaimah Statistics Center has launched a foreign investment survey project that will continue until December 31, 2024, aiming to enhance economic data and investment strategies.

Borex Company for Biotechnology achieved a profit of 3.3 billion dirhams (908 million dollars) in the first nine months of the current year, reflecting sustained growth in the biotechnology sector.

Phoenix Group's net profits in the first nine months of 2024 rose by 17.5% to $169.8 million. This positive growth reflects the company's robust financial performance amidst market challenges.

The board of directors of Brouge PLC has approved the company to enter into a renewable credit facility agreement worth $500 million, aimed at supporting its financial operations.

In its first eleven months, the Dubai Probate Court processed 1,814 inheritance cases, highlighting the city's commitment to an efficient judicial system. Under the leadership of Dubai Courts, key enhancements have improved service delivery and public trust.

Lulu Retail Holding has announced the IPO subscription period, expected to close on November 5, 2024, with share prices set between 1.94 and 2.04 AED. The company targets a market cap of 20.04 to 21.07 billion AED upon listing.

The 321 Festival in Dubai features iconic artists, including George Wassouf and Kazem El Saher, from December 6 to 8, celebrating the 30th Dubai Shopping Festival with exceptional events and concerts.

The Knowledge Summit 2024 will be held in Dubai on November 18-19 under the theme 'Future Skills and the Economy of Artificial Intelligence' with the participation of global experts.

Mohammed Al Ansari, chairman of a money exchange group, stated that while fees for branch transfers have risen, electronic transfer fees remain unchanged. He emphasized that UAE's rates are competitive globally despite increased operating costs in remittance services due to economic factors.