Multiply Group Achieves Net Profit of $72.44 million in Q1-2023
Multiply Group, an Abu Dhabi-based investment holding company, on Tuesday announced that it has reported a net profit excluding fair value gains (losses) of $72.44 million, a 241% growth compared to the same period last year. The Group generated $82.52 million of dividends from its public market portfolio.
Nakheel unveils new residential tower on Palm Jumeirah
Dubai master developer Nakheel on Wednesday announced the launching of Como Residences, a new exclusive residential development on Palm Jumeriah that will offer luxurious living experiences with privacy, exclusivity, and extensive premium amenities to its residents.
Dyson to Develop New Facilities in Singapore, UK and Philippines
The Singapore headquartered consumer electronics major Dyson on Wednesday announced that it will be building new manufacturing facilities and technological hubs at Tuas in region Singapore, the Philippines, and the UK as part of its ongoing five-year $3.4 billion global investment plan for the development of its software and AI capabilities.
ADB Announces New Programme to Fight Climate Change
The Asian Development Bank (ADB) on Tuesday announced the Innovative Finance Facility for Climate in Asia and the Pacific (IF-CAP), a landmark program which could significantly ramp up support for the region in the battle against climate change.
Annual Investment Meeting 2023 kicks off at ADNEC in Abu Dhabi
Under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, the Annual Investment Meeting (AIM Global 2023) was inaugurated today (8 May) at the Abu Dhabi National Exhibition Centre (ADNEC) in Abu Dhabi.
US major home goods retailer Bed Bath & Beyond files Bankruptcy petition
Bed Bath & Beyond Inc, the US-based omni chain home goods retailer, on Sunday announced that it and certain of its subsidiaries, filed voluntary petitions for relief under Chapter 11 of the US Bankruptcy Code (Chapter 11) in the US Bankruptcy Court of New Jersey to implement an orderly wind down of its businesses while conducting a limited marketing process to solicit interest in one or more sales of some or all of its assets.
Australia Energy Storage Systems (ESS) – An Overview of its Market Trends, Innovation & Forecast
IHS Markit makes a bold prediction in their most recent study that energy storage installations in Australia will increase from a mere 500 MW to an astounding 12.8 GW by 2030. Though Australia currently only accounts for less than 3% of total global installations for battery energy storage, the country is expected to represent 7% […]
Electric Car Sales to Reach 14 million in 2023, says IEA
Electric car sales are expected to continue strongly through 2023 and more than 2.3 million electric cars were sold in the first quarter, about 25% more than in the same period last year, International Energy Agency (IEA) said on Wednesday.
19th Edition of Digital Transformation Summit
16 Jun 2023 Manila, Philippines – 16th June, 2023 – The Digital Transformation Summit: Philippines, the 19th Edition of its kind, is poised to become the premier platform for forging strategic partnerships, addressing critical business challenges, and fostering knowledge transfer in order to accelerate the technology revolution in the Philippines.
How Digital Disruption is Impacting Traditional Banking in the Middle East?
Digital banks in UAE, Kuwait, and Saudi Arabia are posing significant challenges and opportunities for traditional banks in the region. While the prevalence of cash payments remains high, recent government policies, regulatory initiatives, and the outbreak of the COVID-19 pandemic are spurring rapid changes in the payments landscape. According to a survey conducted by McKinsey, 90% of payment practitioners believe that the shift toward digital payments will be permanent. Nonbank payment providers are predicted to emerge victorious by 60% of survey respondents, highlighting the importance of traditional banks prioritizing digitizing customer journeys and investing in fintech to remain relevant in this dynamic space.
