The latest issue is out! In this issue, we explore how Middle Eastern sovereign wealth funds are reshaping the investment landscape, emerging as major players in the global economy. We analyse their strategies for tapping into promising opportunities beyond their home markets while remaining committed to supporting entrepreneurship, innovation and economic development within their respective regions. Our cover story provides a comprehensive snapshot of the GCC financial markets, focusing on the region’s IPO momentum. In 2023, GCC states raised a total of $10.79 billion from new listings. Will this trend continue? Experts weighed in with their insights. This edition also delves into the Middle East travel sector, which is forecasted to grow by 40% between 2022 and 2026, with the hospitality industry’s market value projected to reach $37.62 billion by 2028. In the coming years, the region is set to unveil a series of large-scale, sustainable and luxury-focused destinations designed to capture—and retain—the world’s attention. How is the Middle East achieving this? We provide the answers in our detailed story inside. Additionally, in an exclusive interview with Finance Middle East, Red Sea Global’s Gregory Djerejian shares his vision for the future of investment, IPOs and upcoming milestones for the Saudi developer. Lastly, we look ahead to what’s in store for the global economy for the rest of 2024. With the first half of the year behind us, investors and researchers are keenly searching for clues about what the next six months will bring and which investments are poised to yield the highest returns. Follow the link to read the e-magazine: https://lnkd.in/dUNFWWuf
نبذة عنا
Finance Middle East is leading the way in revolutionising financial reporting in the region. Our extensive coverage – from Islamic finance to the complexities of the oil and energy industries, modern financial regulations, and insightful economic analyses – is available both in print and online. Our exclusive perspectives shed light on the burgeoning realm of startups and entrepreneurial ventures, conduct meticulous examinations of local tax frameworks, and uncover untapped potentials within emerging markets, among a myriad of other vital focal areas. Join us on our voyage as we navigate through the intricate landscapes of finance, committed to continuously uncovering new opportunities and prospective avenues each day. Finance Middle East is a publication of ITP Media Group.
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رابط خارجي لـ Finance Middle East
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المواقع الجغرافية
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رئيسي
Dubai ، AE
موظفين في Finance Middle East
التحديثات
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The Central Bank of the United Arab Emirates (CBUAE) has revoked the licence of Galaxy Insurance Broker (Galaxy), an insurance broker operating in the UAE, and struck its name off the Register. Follow the link for more details: https://lnkd.in/dJQ_ikDC #insurance #regulations #financemiddleeast
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Egypt has announced a 15% increase in petrol prices, effective Friday, as part of a reform package requested by the International Monetary Fund (IMF). Follow for more details: https://lnkd.in/dwfUSBzH #egypt #financemiddleeast
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Mashreq has announced its financial results for the first half of 2024, logging a net profit of Dh 4 billion, reflecting a significant 14% increase year-on-year (YoY), mainly driven by a rise in net interest income. Follow for more details: https://lnkd.in/dt6d26qP #uae #mashreq #financemiddleeast
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The UAE's Masdar (Abu Dhabi Future Energy Company) will invest €817 million (Dh3.27 billion) for a 49.99% stake in Spain's Endesa solar energy projects, with an enterprise value of €1.7 billion. Follow for more details: https://lnkd.in/dWXjwna7 #uae #masdar #endesa #financemiddleeast
Masdar acquires 49.9% of Spain’s Endesa solar energy plants
https://www.financemiddleeast.com
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أعاد Finance Middle East نشر هذا
The final bill for the Paris 2024 Games is still unknown, but there are already estimates of how much the city is set to spend to host the world's largest sporting event. Based on historical lessons, Beatriz Valero de Urquía looks at the question: just how much does it cost to host the Olympic Games? And, more importantly, do countries make the money back? Read more: https://lnkd.in/diQx_xEm #sport #economics #paris2024 #olympicgames #financemiddleeast
How much does it cost to host the Olympic Games?
https://www.financemiddleeast.com
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Dubai Islamic Bank reported an 8.6% surge in H1 2024 net profit to Dh3.38 billion. The bank’s balance sheet expanded by 2.7% year-to-date to Dh323 billion, driven by robust growth in various sectors. Total income rose by 21% year-on-year to Dh11.3 billion. Group pre-tax profit surged by 18% year-on-year to Dh3.72 billion. The bank’s net financing and sukuk investments grew by 3.8% year-to-date to Dh278 billion, with gross new underwriting and sukuk investments totalling Dh43.4 billion in the first half of 2024. Follow the link for more details: https://lnkd.in/dQYGy7Rn
Dubai Islamic Bank reports 8.6% surge in net profit for H1 2024
https://www.financemiddleeast.com
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ADIB - Abu Dhabi Islamic Bank has announced a remarkable performance for the first half of 2024, with net profit after tax soaring by 30% year-over-year to Dh3.03 billion. In the second quarter of 2024 alone, ADIB reported a net profit after tax of Dh1.58 billion, marking a 9% sequential and 29% year-over-year increase. The bank’s total assets surpassed Dh200 billion for the first time, driven by a strong 17% growth year-over-year, reaching Dh213 billion. Follow the link for more details: https://lnkd.in/dJDtvhzR
Abu Dhabi Islamic Bank records 30% surge in net profit for H1 2024
https://www.financemiddleeast.com
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Commercial Bank of Dubai (CBD) announced a net profit of Dh1.45 billion for the first six months of 2024, up 30.2% compared to the same period in 2023. The growth was primarily driven by strong loan performance, increased revenues and improved asset quality. Follow the link for more details: https://lnkd.in/dw5waGpG
Commercial Bank of Dubai reports Dh1.45 billion in H1 2024 net profit
https://www.financemiddleeast.com
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Astra Tech’s subsidiary, Quantix Technology Projects LLC, has been awarded a full Finance Company Licence by the Central Bank of The UAE (CBUAE), marking it the first fintech platform to receive this distinction. The Finance Company Licence enables Quantix to offer a broad range of lending, credit and micro-financing services, significantly enhancing its financial portfolio through digital platforms. Notably, this is the first Finance Company Licence issued by the CBUAE since 2016. Follow the link for more details: https://lnkd.in/dTnaW9Qx
Quantix Technology receives CBUAE’s Finance Company Licence
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