Nasdaq-listed Anghami’s revenues hit $35.5mln in 2021
Anghami, the first Arab tech company listed on Nasdaq, has generated total revenues of $35.5 million in 2021, up 16% year-on-year (YoY). The Abu Dhabi-headquartered company’s subscription revenues amounted to $25.7 million last year, while the advertising revenues rose by 70% YoY to $9.8 million, according to a press release on Wednesday. In the […]
EGA site recertified to Aluminium Stewardship Initiative
Emirates Global Aluminium (EGA), the largest industrial company in the UAE outside of oil and gas, today announced that its Al Taweelah site has been recertified to the Aluminium Stewardship Initiative’s Performance Standard for its sustainability performance. The Aluminium Stewardship Initiative brings together metals and mining companies, end-users of aluminium such as Apple and Nespresso, […]
UAE-German non-oil trade rises 10.5% to $9.5bln in 2021
The UAE has become Germany’s most important trading partner in the Middle East, said Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, adding that the non-oil trade between the two countries amounted to $9.5 billion during 2021, a 10.5 percent increase compared to 2020. He said this while addressing an […]
UAE top banks’ profits, margin levels ‘take a hit’ in Q1
The profitability of the top ten UAE banks has deteriorated marginally by 0.3% in Q1 2022 and return on asset (RoA) remained flat at 1.4% during the quarter compared to Q1 2021 as the sector braces for a slowdown. The country’s 10 largest listed banks are First Abu Dhabi Bank (FAB), Emirates NBD (ENBD), […]
UAE, Ukraine leaders talk post-war reconstruction, food security
The UAE has been invited to take part in the post-war reconstruction of Ukraine by its President, Voldymyr Zelenskiy, who also discussed the possibility of the emirates providing fuel to the war-torn nation. President Zelenskiy, whose country is fighting a war against neighbouring Russian Federation after an invasion which began in February, tweeted last night […]
Dubai’s branded residences now rival those in Miami, New York: Knight Frank
A bevy of new luxury properties being brought to the market has made Dubai a global leader in the branded residences market that now rivals favourites of the wealthy like Miami and New York, according to a new Knight Frank report. In recent times, the emirate has seen several launches of residential development projects from […]
Air Arabia Abu Dhabi launches city check-in services
Air Arabia Abu Dhabi, the UAE capital’s first low-cost carrier, has announced the introduction of its City Check-in services in Abu Dhabi. The City Check-in service aims to provide passengers with added convenience and flexibility by enabling them to drop off their baggage and collect their boarding pass at a location near them before traveling […]
Alpha Dhabi to invest $2.5bln in Alpha Wave Ventures II Fund
Alpha Dhabi Holding, an Abu Dhabi-based investment holding company, will invest 9.2 billion dirhams ($2.5 billion) in a venture fund launched at the beginning of the year, thus becoming its cornerstone investor. Alpha Wave Ventures II is a $10 billion fund co-managed by Chimera Capital, an Abu Dhabi investment fund, along with US alternative asset […]