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Dubai Islamic Bank (DIB) reported a pre-tax profit of Dh9 billion for 2024, reflecting a 27% increase from the previous year. Total income rose to Dh23.3 billion, a 16% year-on-year growth, while net financing and sukuk investments grew by 10.1% to Dh295 billion. Shareholders approved a 45% cash dividend, amounting to approximately Dh3.25 billion, and ratified the appointment of the bank’s Internal Sharia Supervision Committee and external auditors for the 2025 financial year.
Uber Technologies is reportedly considering the acquisition of BluSmart Mobility, a Gurugram-based operator of all-electric cabs. The negotiations focus on BluSmart’s assets, including a fleet of over 5,000 EVs operating in major cities like Delhi, Mumbai, Bengaluru, and Dubai, primarily consisting of Tata Motors and MG Motor vehicles. Additionally, BluSmart manages EV charging infrastructure in NCR and Bengaluru and leases vehicles from private individuals.
Bank of Sharjah reported a net profit of Dh385 million for 2024, with operating income nearly tripling to Dh727 million. Customer deposits grew by 13% to Dh29.7 billion, while total assets increased by 10.4% to Dh43.6 billion, driven by loan growth and an expanded investment portfolio. Effective cost-control measures led to a 23.8% reduction in operating expenses, significantly improving the cost-income ratio to 36.6%.
Gulf Navigation Holding PJSC has secured shareholder approval for an $871 million acquisition of Brooge Energy Limited's assets, enhancing its position in the midstream oil and gas sector. The deal includes cash, new shares, and Mandatory Convertible Bonds, aiming to drive operational efficiencies and support sustainability goals. Completion is anticipated in the second quarter of 2025, pending regulatory approvals.
Dubailand homes may soon benefit from the expansion of the Dubai Metro line, as evidenced by diverse property listings. 1-bedroom apartments are available for prices ranging from Dh600,000 to Dh860,000, while deluxe 2-bedroom units are priced at Dh2.9 million for those with a larger budget.
Dubailand homes may soon benefit from the expansion of the Dubai Metro line, as evidenced by diverse property listings. 1-bedroom apartments are available for prices ranging from Dh600,000 to Dh860,000, while deluxe 2-bedroom units are priced at Dh2.9 million.
The Arab region's GDP rose by 1.8% to $3.6 trillion in 2024, driven mainly by growth in Saudi Arabia, the UAE, Egypt, Iraq, and Algeria, which account for over 72% of the total GDP. Looking ahead, a positive outlook for 2025 anticipates a growth rate of 2.9%, bolstered by increased oil production and major investments, particularly in Saudi Arabia under the Vision 2030 program.
Sharjah's real estate market thrived in February 2025, recording transactions worth AED 3.5 billion ($953 million) across 7,768 deals, including diverse properties like vacant land and built-up units. The emirate's appeal lies in its tax benefits, affordable prices, and robust infrastructure, making it a prime investment destination. Real estate agencies can capitalize on this growth by employing data-driven marketing strategies to enhance visibility and attract clients.
Sharjah's real estate market thrived in February 2025, recording transactions worth AED 3.5 billion ($953 million) across 7,768 deals, including diverse properties like vacant land and built-up units. The emirate's appeal lies in its tax benefits, affordable prices, and robust infrastructure, making it a prime investment destination. Real estate agencies can capitalize on this growth by employing data-driven marketing strategies to enhance visibility and attract clients.
Huda Sabil Abdulla, CFO of Emirates Islamic, has been recognized as one of Finance Middle East’s Top 26 most influential women in finance for 2025. With over 30 years of experience, she has significantly enhanced operational efficiency and profitability through strategic financial management and innovative frameworks. A pioneer in the UAE banking sector, she was the first Emirati woman to hold a CFO position and has received multiple awards for her contributions to banking and finance.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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