According to a new report the UAE’s Petrochemical industry is set for strong growth in 2016. Business Monitor International (BMI) research reveals that parts of the plastics and rubber industry will see growth in the new year of nearly 170%. Predications expect polyethylene production to triple to 3.52 million tonnes per annum. It’s also revealed that by 2016, ethylene capacity will reach five million tonnes per annum in the UAE.
TECOM Group’s 9-month shows 20% revenue growth
TECOM Group has announced a 20 per cent revenue growth reaching more than AED 2.1 billion, with a net profit exceeding AED 1.1 billion, marking an 18 per cent year-on-year increase.
DFM reports 212% increase in net profit before tax to AED930.8 million
The Dubai Financial Market (DFM) has announced its consolidated financial results for the nine months ending September 30, reporting a net profit before tax of AED 930.8 million, an increase of 212 per cent compared to the same period in 2024.
DMCC unveils plans for new financial centre
DMCC — Dubai’s leading international business district — has announced plans to create a new Financial Centre that will anchor trade finance, fintech innovation and digital asset solutions across its 26,000-member community.
UAE cuts key interest rate by 25 basis points
The Central Bank of the UAE (CBUAE) has decided to cut the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points, from 4.15 per cent to 3.90 per cent, effective from Thursday, October 30.
UAE-based companies contribute to $28 billion investments to Syria
Syrian President Ahmed Al-Sharaa announced that the country has attracted approximately $28 billion in investments during the first six months of this year, highlighting significant participation from companies based in the UAE, Saudi Arabia, and Qatar.
