KARACHI: Faysal Bank Limited (FBL), one of the leading Islamic banks in Pakistan, continued with its growth stride during the first quarter of 2024, whereby the profit after tax doubled to PKR 6.5 billion as compared to Q1 2023. Earnings per share increased from PKR 2.12 to PKR 4.29, while the Bank also declared an interim cash dividend of Re. 1/- per share, i.e. 10%. The total assets reached a new high of PKR 1.5 trillion, with deposits increasing to PKR 1.050 trillion …

DUBAI: Celebrating a year of transformative presence in the Middle East, Nomadic, the award-winning business traveller offering by Fragomen, is thrilled to announce its debut at the Arabian Travel Market (ATM) 2024, from May 6th to 9th, at the Dubai World Trade Centre. Nomadic introduces solutions to streamline global business travel. Arabian Travel Market serves as a key global hub …

News Desk DUBAI: Finvasia, a global innovator leveraging engineering and technology, has joined theDubai FinTech Summit (DFS), organised by Dubai International Financial Centre (DIFC), the leading global Financial Centre in the MEASA region, as a Lead Sponsor, underscoring its dedication to support businesses with a cost-effective, ethical and integrated ecosystem of products and services that inter-operate across various industry segments. Finvasia Group was established in …

By Muhammad Rafiq DUBAI: Dubai World Trade Centre (DWTC) has announced a record-breaking year for its Hospitality business in 2023, catering to over 1 million guests across 2,846 events. This remarkable achievement reflects a 48% increase Y-o-Y in guests catered to and a 23% rise Y-o-Y in events catered for, underscoring DWTC’s commitment to delivering exceptional experiences and solidifying its …

GENEVA/DUBAI: The International Air Transport Association (IATA) released data for March 2024 global air cargo markets showing continuing strong annual growth in demand. Total demand, measured in cargo tonne-kilometers (CTKs*), rose by 10.3% compared to March 2023 levels (11.4% for international operations). This is the fourth consecutive month of double-digit year-on-year growth. Capacity, measured in available cargo tonne-kilometers (ACTKs), increased by …

ABU DHABI: e& today disclosed its consolidated financial results for Q1 2024, reporting consolidated revenue of AED 14.2 billion, growing 9% year-over-year, while consolidated net profit increased to AED 2.3 billion, a year-over-year growth of 7%. The group’s consolidated EBITDA reached AED 6.4 billion, growing 3% year-over-year, resulting in an EBITDA margin of 45%. The number of e& UAE subscribers …

DUBAI: From thrilling take-offs to smooth landings, pilots play a vital role in connecting the world – whether it’s people, businesses, trade, or aid – and transforming it. On 26 April, World Pilots’ Day, Emirates shone the spotlight on its own aviator roles by announcing significant and exciting changes to recruitment, including higher salaries, new roles, and a radical change …

ABU DHABI: e& topped the ranking of the Brand Finance Middle East 150 and Brand Finance UAE 50 reports for 2024 as the fastest-growing technology brand in the Middle East. In addition to its investments in emerging technologies, e& has successfully diversified its investment portfolio into new markets through strategic acquisitions as it transforms from a telco into a global …

DUBAI: Arab Monetary Fund (AMF) has joined theDubai FinTech Summit (DFS), organised by Dubai International Financial Centre (DIFC), the leading global Financial Centre in the MEASA region, as a  strategic partner. Founded in 1977, AMF is a regional Arab organisation with 22 member countries. With an objective to strengthen economic, financial, and monetary stability, it aims to promote economic development in …

By Rafiq Vayani DUBAI: Merex Investment marks a significant milestone with the near completion of J1 Beach, its flagship beachfront project situated in the vibrant Jumeirah neighbourhood.  Nearing 94% completion and slated for a grand opening in September 2024, J1 Beach is poised to redefine the Dubai beachfront experience with its innovative design, luxury dining and world class amenities. The …