Bahrain’s GFH Financial Group reports net profit of $84.22m in 2021

The group’s net profit increased by 86.77 per cent over 2020, supported by diversification and an international investment portfolio

Abu Dhabi: The 2022 edition of UMEX and SimTEX to return this month

The hybrid event will take place at Abu Dhabi’s ADNOC Business Centre

UAE’s EGA plans to build first aluminium recycling facility

Feasibility studies for the project are underway

UAE reports 1,538 Covid-19 cases, 2,457 recoveries

The nationwide case count has risen to 862,514

First Abu Dhabi Bank makes offer to acquire majority stake in EFG Hermes Holding

The potential acquisition would be paid for in cash

Dubai Islamic Bank prices $750m senior sukuk

The sukuk will be listed on Euronext Dublin and Nasdaq Dubai

Getty Images/Unsplash

Data and digital consulting firm Artefact expands to Saudi Arabia

Artificial intelligence is expected to contribute over $135.2bn in 2030 to the kingdom’s economy, equivalent to 12.4 per cent of GDP

Aldar

Abu Dhabi’s Aldar achieves annual property sales of Dhs7.2bn in 2021

The company reported a preliminary full year net profit increase of 21 per cent

Historic feat: One year since the UAE’s Hope Probe reached Mars

The UAE became the first Arab country to launch a space mission to Mars

Qatar considers refinancing $10bn debt due next year

No final decision has been made

Cover story: Investment is a level playing field, says Dubai’s AIX

The Covid-19 pandemic has effectively broadened the investment landscape, explains AIX Investment Group’s board advisor Fadi Dabbagh

Here are five steps to increase your followers on Instagram

Instagram in particular, is a social media platform that ranks supreme when it comes to its potential as a marketing tool, especially amongst B2C brands

Covid-19 vaccine

Covid-19: Fourth dose of Pfizer-BioNTech vaccine now available in Abu Dhabi

It is mandatory for six months to have passed since receiving the last dose of the vaccine, except in the case of high-risk individuals who can receive the booster after three months

DP World’s Imperial acquires a controlling stake in Africa FMCG Distribution Ltd in Nigeria

DP World reports volume growth of 9.4 per cent in 2021

Spurred by the volume performance, DP World remains focused on increasing profitability while managing growth capex

F22

US to bring F-22 fighter jet squadron to the UAE imminently

It has already deployed the the guided-missile destroyer USS Cole to patrol the waters of the UAE

ADNOC

UAE’s ADNOC mulls sale of green bonds as it seek ESG funds

The UAE became the first Gulf state to commit to neutralising planet-warming emissions within its borders, which it aims to do by 2050

Abu Dhabi’s Aldar awarded development project contracts worth Dhs8.5bn in 2021

The company signed 16 contracts with UAE-based companies to support the National ICV programme

Dubai Financial Services Authority signs MoU with India’s IFSCA

The agreement sets a framework for mutual assistance and exchange of information in areas, including money laundering and terrorism financing

Covid-19 update: UAE reports 1,615 cases, 2,219 recoveries

The nationwide case count has risen to 860,976

Abu Dhabi Ports surges on debut after $1.1bn share sale

In 2021, Abu Dhabi Ports handled 45 million tons of general cargo volumes

AD Ports Group

Abu Dhabi-based Al Seer Marine invests Dhs1.2bn in AD Ports Group

With this investment, Al Seer Marine has received a 7.36 per cent stake in Abu Dhabi Ports

Saudi makes 48-hour negative Covid test mandatory for Umrah pilgrims

The new directive will come into effect on 1am, February 9, 2022

UAE

UAE business tax will help support smaller emirates’ economies, S&P says

The country plans to levy a 9 per cent corporate tax from June 2023

Diriyah: Nesma awarded SAR1.2bn transportation contract

It covers the construction of a network of road tunnels, ramps and a major bridge deck as well

Middle Eastern oil is flavour of the month as benchmarks diverge

Oil futures have soared to the highest level in seven years in the opening weeks of 2022

Saudi Arabia

Saudi wealth fund edges closer to green bond with Moody’s rating

Last week, Fitch Ratings gave the fund a rating of A

AD Gaming partners with Attarius Network to underpin Abu Dhabi’s gaming sector

Via the agreement, Attarius will help developers in Abu Dhabi build blockchain-based games

Bahrain

Bahrain introduces permanent residency golden visas

Open to both residents and non-residents, as well as their families, the visa can be renewed indefinitely

single-use plastic ban starts on Jan 1

Dubai to impose tariff on single-use plastic bags from July 1

The tariff of 25 fils is being introduced with the ultimate aim of completely banning the use of these plastic bags over the next two years

Abu Dhabi Islamic Bank posts 45% rise in net profit for 2021

The bank’s revenue increased 4 per cent to Dhs5.56bn