Financial Services provider, Al Baraka Bank has announced exceptional performance results for the second quarter of 2024, reporting a 31% year-on-year (YOY) increase in net profit after tax, reaching EGP 1,336 million. This growth underscores the successful execution of the bank’s strategy to expand its footprint in the Egyptian banking sector and enhance its Sharia-compliant […]
Financial Services Company, Network International, has announced a strategic partnership with Epsilon, a global leader in customer loyalty programmes. This collaboration aims to revolutionise regional loyalty solutions by integrating Network International’s payment infrastructure with Epsilon’s advanced loyalty management expertise. The partnership will enable Network International to leverage Epsilon’s technology and analytics platforms to offer customised […]
Empire State Developments (ESD) is evaluating significant real estate projects in east and west Cairo, with plans to invest EGP 17 billion over the coming years. The company is particularly interested in the New Administrative Capital (NAC), which already owns El Centro Mall, as it seeks to capitalise on the area’s high investment potential. Chairperson […]
Mohammed Bin Rashid Housing Establishment (MBRHE) and Dubai Islamic Bank (DIB) have signed a partnership agreement worth AED 29.7 million to support community initiatives. This collaboration seeks to enhance community partnership and corporate social responsibility, reinforcing the support needed to ensure stability and well-being within the community. “We are proud to collaborate with Dubai Islamic […]
Facebook parent company Meta, has unveiled the Llama 3.1 Impact Grants, a new initiative providing up to USD 2 million to support innovative AI applications addressing global challenges. This programme continues Meta’s tradition of empowering organisations with funding to leverage open-source AI for social good. The Llama 3.1 Impact Grants programme invites proposals from organisations […]
Saudi-based electric power generation company ACWA Power has announced its consolidated financial results for the first half of 2024, ending June 30. The company reported a net profit of SAR 927 million, marking a 36% increase from the same period in 2023. Operating income before impairment losses and other expenses reached SAR 1,389 million, with […]
Dubai-based Capital Market Company MultiBank Group has announced a strategic partnership with Mashreq to introduce an innovative instant payment service. This collaboration aims to enhance transactional efficiency and operational transparency for over 1 million traders across 90 countries. Mashreq Bank’s integrated advanced payment processing capabilities will enable MultiBank Group to offer clients nearly instantaneous deposit […]
Appliances and consumer-based tech firm Samsung Electronics Co., Ltd. has announced that its SmartThings platform has received the ISA/AEC 27001:2022 certifications, a prestigious international standard for information security management systems(ISMSs). The ISA 27001 standard, established by the International Organisation for Standardisation (ISO), provides comprehensive guidelines for managing risks to information assets. Samsung’s certification, granted by […]
Real Estate Company’s YBA Kanoo’s investment division, Kanoo Ventures has announced a significant investment in CorrosionRADAR, a predictive Corrosion under Insulation (CUI) monitoring solution. This latest funding round, attracting investments from Aramco Ventures, Dow, and Mercia Ventures, has raised CorrosionRADAR’s total funding to $14 million (£11.7M). This capital influx will enable CorrosionRADAR to expand the […]
Kuwait-based telecommunications company Ooredoo has announced a strategic partnership with retail company, Landmark Group, integrating popular brands like Centrepoint, Max, and Home Centre into its Nojoom Rewards programme. This collaboration unveiled during a ceremony featuring Ooredoo’s Chief Commercial Officer Tapan Tripathi and Landmark Group’s Shabbir Fakhruddin, enhances the Nojoom programme’s offerings. The partnership introduces an “Earn-And-Burn” mechanism, allowing […]
UAE-based tech and Web3 powerhouse, Phoenix Group PLC, announced a significant 141% year-on-year rise in net profit for Q2 2024, reaching USD 56.1 million, compared to USD 23.2 million in the same period last year. On Friday, This growth was primarily driven by strategic investments in digital assets and the expansion of their self-mining business. […]
On Thursday, the Bahrain-based auction platform of “Mumtalakat” holding, Mazad, announced a strategic partnership with Kanoo Real Estate, a subsidiary of the Yusuf bin Ahmed Kanoo group. This collaboration aims to expand Mazad’s asset share and strengthen its position as the leading auction platform in Bahrain and the Gulf region. Under the partnership, Kanoo Real […]
Mutual Trust Bank PLC (MTB) has been honoured with the “Best Bank in CSR – Bangladesh” award by Business Tabloid Magazine. This distinguished recognition highlights MTB’s exceptional commitment to Corporate Social Responsibility (CSR) in various sectors including education, healthcare, environmental sustainability, and disaster management. The award underscores MTB’s impactful CSR initiatives, which have significantly benefited […]
Mutual Trust Bank PLC (MTB) proudly announces that Syed Mahbubur Rahman, Managing Director and CEO, has received the “Most Influential Banking Leader, Lifetime Achievement Award – Bangladesh” from Business Tabloid Magazine. This distinguished honour recognises Rahman’s impactful leadership and strategic expertise that have significantly shaped the banking sector in Bangladesh. Under Rahman’s leadership, MTB has […]
The real estate developer, SKY AD. On Thursday, developments under the direction of the Emirati Diamond Group began construction on the Bluetree project in New Cairo’s prestigious Golden Square. This is the company’s third venture in Egypt and its first development in the Fifth Settlement. During a media visit, the company formally announced the project […]
