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Alpha Dhabi Holding reports $4.74bn revenue for Q1Alpha Dhabi Holding has reported a revenue of AED17.4 billion ($4.74 billion) for the quarter ending March 31, 2025, a 23 percent increase YoY, reflecting the depth of Alpha Dhabi’s diverse portfolio alongside its consistent track record of growth. The c More… |
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Dubai Holding launches IPO for Dubai Residential REITDubai Holding, through its wholly-owned subsidiary DHAM REIT Management (the Fund Manager), today announced its intention to launch an initial public offering (IPO) for Dubai Residential REIT. Dubai Residential REIT is a Shariah-compliant income-generating clo More… |
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Saudi non-oil GDP grows at 4.2% in Q1Saudi Arabia’s real GDP grew 2.7% y-o-y in Q1 2025, driven by a 4.2% rise in non-oil GDP, while oil GDP declined by 1.4%, according to flash estimates by GASAT. The non-oil PMI reached 58.1, and remained above the long-run average of 56.9, indicating con More… |
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MAG to tokenise $3bn real estate assetsMAG, a leading real estate developer in the UAE, has signed an historic $3 billion tokenization agreement with MultiBank Group, the world’s largest financial derivatives institution based in Dubai, and Mavryk, a leading blockchain innovator. This marks t More… |
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MENA pace of growth likely slow, says IMFGrowth is projected to rise in the Middle East and North Africa in 2025 and 2026, but at a slower pace than anticipated earlier, says a new report from IMF. Across the region, rising trade tensions and policy uncertainty are adding to More… |
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CBB says it stays firm on rule violationsThe Central Bank of Bahrain (CBB) has reaffirmed its commitment to ensuring the compliance of licensed financial institutions with regulatory requirements and taking necessary measures in response to any violations, in line with its supervisory mandate. In a s More… |
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FAB delivers record Q1 results; 23% rise in net profitFirst Abu Dhabi Bank (FAB) delivered record results for the first quarter of 2025, with group net profit of AED5.13 billion ($1.4 billion), up 23% year on year, and group profit before tax reaching AED6.13 billion, up 22% year on year. This outstanding f More… |
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UAE entities to launch dirham-backed stablecoinThe UAE's IHC, ADQ, and First Abu Dhabi Bank (FAB) have announced plans to launch a new stablecoin backed by Dirhams, which will be fully regulated by the Central Bank of the United Arab Emirates (CBUAE) and issued by the UAE’s largest bank, FAB (subject to regulatory approval). More… |
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Oman projects 3.4% economic growth for 2025Oman’s GDP is expected to grow by 3.4% this year, outperforming many global economies — a testament to the resilience of the national economy and international market confidence, said Qais bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion. More… |
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RGA sets new design criteria for Saudi roundaboutsSaudi Arabia's Roads General Authority (RGA) has unveiled the design criteria for safe roundabouts, in accordance with the Saudi Road Code. The Authority emphasised the need for adequate road width to accommodate all types of vehicles, including heavy truc More… |
