Author: Arabian Media staff

Image credit: PIF/Website The Public Investment Fund (PIF) closed 2024 on a high note, with its assets under management (AuM) rising by 19 per cent to reach $913bn. This growth cements PIF’s position as one of the world’s largest and fastest-growing sovereign wealth funds (SWFs), driven by a long-term investment strategy and a mission to diversify Saudi Arabia’s economy, a PIF press release conveyed. According to its recently released 2024 annual report, the fund delivered an average total portfolio return of 7.2 per cent annually since 2017. Total revenue climbed by 25 per cent, while its cash reserves remained strong…

Image: Supplied We are living in times where global expansion has never been easier. It was often thought that international expansion is complicated, but new growth models and strategies are emerging that mean the reverse is true. The traditional location-bound approach to business incorporation is fast becoming obsolete. Where once it was the norm to register and operate a business solely within one’s domestic market, today’s entrepreneurs face a different reality — one that demands a global mindset from day one. With access to the right set of tools and with the willingness to adopt a new mindset, building a…

Owen Richards, partner – corporate finance at Addleshaw Goddard/Image: Supplied International law firm Addleshaw Goddard has advised Al Waha Land (Waha Land), a wholly owned subsidiary of Waha Capital, on the Dhs530m sale of integrated logistics assets at AlMarkaz Industrial Park in Al Dhafra, Abu Dhabi. The assets, totaling 182,500 sqm of net leasable area within the 6 million sqm industrial park, were acquired by Aldar on 30 June 2025, marking a notable milestone for the UAE’s real estate and logistics sectors. Developed by Waha Land and benefiting from special economic zone status, AlMarkaz Industrial Park is near full occupancy…

Image: Getty Images/ For illustrative purposes Presight AI  has reported an 80.2 per cent rise in H1 revenue to Dhs1.09bn, driven by strong domestic growth and accelerating international expansion, and upgraded its medium-term outlook. Organic revenue, excluding the contribution from AIQ, grew 33.5 per cent year-on-year. EBITDA increased 59.6 per cent to Dhs245.5m, while net profit rose 18.8 per cent to Dhs209.7m. Q2 revenue climbed 53.5 per cent to Dhs 523.9m, with organic growth accounting for 19.7 per cent. Quarterly EBITDA rose 45.5 per cent to Dhs104.5m and net profit was up 11.5 per cent at Dhs89.7m, reflecting the impact…

image: AD Ports Group AD Ports Group’s Q2 2025  revenue surged 15 per cent year-on-year (YoY) to Dhs4.83bn, driven by the Ports, Economic Cities & Free Zones (EC&FZ) and Maritime & Shipping clusters. Quarterly EBITDA rose 9 per cent to Dhs1.17bn, with the group’s EBITDA margin at 24.2 per cent. Profit before tax increased 5 per cent to Dhs519m, supported by higher operating performance but offset by increased depreciation and finance costs. Net profit was flat at Dhs445 m, as higher income tax weighed on the bottom line. Earnings per share remained steady at Dhs0.07. Capital expenditure in the quarter…

Image: Al Ansari Financial Services Al Ansari Financial Services, GCC’s non-banking financial services provider, reported a record first-half performance for 2025, achieving a 13 per cent year-on-year (YoY) rise in operating income to Dhs638m. The growth was driven by the consolidation of BFC Group’s results from Q2 2025 following its acquisition, alongside robust performance across most business lines. The results underscore the Group’s resilience and market leadership, achieved despite ongoing geopolitical headwinds, and reflect the effectiveness of its long-term strategy to leverage strong economic momentum in the UAE and wider GCC. H1 2025 highlights: Operating income up 13 per cent…

Cartex, a fast-growing fintech specialising in global payment solutions, has named Deepak Gusain as chief operating officer. Bringing over two decades of cross-sector experience in global digital infrastructure, Gusain will lead the execution of Cartex’s long-term growth strategy spanning financial services, embedded ecosystems, and digital commerce. In his new role, Gusain will oversee the scaling of Cartex’s core business lines, including card issuing, payment gateway infrastructure, telecom services, anti-fraud systems, and embedded financial tools. His mandate includes expanding the company’s multi-sector ecosystem to enable cross-border commerce, digital connectivity, and financial inclusion across markets in the GCC, Europe, India, Africa, and…

Image credit: Supplied Parkin Company PJSC (“Parkin”), the largest provider of paid public parking facilities in Dubai, has announced a landmark partnership with CAFU, the global leader in on-demand fuel delivery and car care services. The strategic alliance is set to roll out convenient, value-added automotive services—right where drivers park. Read-Smart parking in Dubai: How will it reinvent mobility in the city Starting Thursday, August 14, 2025, customers parking in any of Parkin’s facilities will be able to request on-demand fuel delivery and car wash services without ever needing to move their vehicles, a Dubai Media Office report said. The…

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Image credit: Getty Images Sharjah is strengthening its reputation as an age-friendly city by integrating artificial intelligence (AI) and smart care technologies to enhance support for senior citizens. This initiative is in line with the humanitarian vision of Sheikh Dr Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah. Read-UAE is using AI to hire: What skills do you need to land a job? At the 2024 Senior Citizens Services Forum, held under the theme “Artificial Intelligence in the Service of the Elderly”—the Sharjah Social Services Department issued key recommendations to expand AI applications in elderly care,…