Company Insights Investment Corporation of Dubai Banking and Finance Investment Corporation of Dubai News Finance PIF top spender among sovereign funds in 2023 Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF), was the top spender worldwide among state-owned investors, the 2024 Global Sovereign Wealth Fund report has revealed, underlining the kingdom’s determination to reallocate its hydrocarbon revenues to diversify and expand its domestic economy. State-owned investors include sovereign wealth funds (SWFs), public pension funds and central banks, […] January 1, 2024 Finance Dubai’s investment arm almost doubles profits Transport and finance have helped the Dubai government’s investment body almost double profits for the first half of the year. Investment Corporation of Dubai (ICD) reported an 86 percent rise in first-half net profit on Thursday as earnings from its financial services and transportation divisions surged. ICD, which is the Dubai government’s main investment unit, […] November 23, 2023 Construction Gulf contractor ALEC’s five-year plan to double business ALEC Engineering and Contracting, the company behind some of the Gulf’s biggest projects, is looking to double its business in the next five years, with Saudi Arabia making up a core part of its plans. Developments already under their management include the UAE’s first casino and Saudi Arabia’s entertainment city. Barry Lewis, ALEC’s recently appointed […] October 18, 2023 Analysis Banking and Finance Gulf sovereign wealth funds vary recipes for success Gulf sovereign wealth funds are pursuing differing investment strategies when it comes to the way they buy into target companies, according to a report by analyst Global SWF Institute. The paper highlights how the Kuwait Investment Authority (KIA) and Investment Corporation of Dubai prioritise buying into target assets via funds, while Saudi Arabia’s Public Investment […] August 3, 2023 Banking and Finance Dubai sovereign wealth fund sees profits rise five-fold Investment Corporation of Dubai (ICD) reported a five-fold rise in annual net profit on Wednesday as the government-owned holding company benefited from soaring hydrocarbon and transportation-related revenues. Dubai’s sovereign wealth fund owns Emirates and FlyDubai airlines, travel agency dnata, Emirates National Oil Company and stock exchange operator Borse Dubai. It also holds major stakes in […] May 31, 2023 Analysis Aviation Emirates’ record dividend lifts total paid to Dubai past $6.5bn The record AED4.5 billion ($1.2 billion) dividend paid by Emirates Group for 2022-23 has pushed the Dubai government’s total earnings from its flagship airline past $6.5 billion. The group’s annual report released last week showed that over the past 34 years, it has paid 28 dividends to its owner – the Investment Corporation of Dubai, […] May 16, 2023 Aviation Emirates soars to its most profitable year Emirates airline has recorded the most profitable 12 months in its 38-year history, despite operating costs soaring 57 percent. Dubai’s flagship carrier reported a profit of AED10.6 billion ($2.9 billion) over the last 12 months, a turnaround from a loss of AED3.9 billion in the previous financial year. The return to the black was a […] May 11, 2023 Retail GMG opens Egypt HQ with plans for 1,000 new jobs GMG, which manages more than 120 retail brands across the Middle East, North Africa and Asia, has announced plans to increase its Egyptian workforce 10-fold over the next four years. The retailer, headquartered in Dubai, said it has opened a dedicated office in Cairo to support plans to create more than 1,000 new jobs in […] March 13, 2023 Retail Dubai’s GMG buys supermarket and mall operator Aswaaq GMG, which manages more than 120 retail brands across the Middle East, North Africa and Asia, has announced a major expansion through the acquisition of the retailer Aswaaq. The Dubai-headquartered conglomerate bought Aswaaq from the Investment Corporation of Dubai, the principal investment arm of Dubai’s government. The deal adds a total of 11 community malls […] February 7, 2023 Construction Gulf project contracts to hit $110bn this year A combined $110 billion worth of project contracts are expected to be awarded in the GCC this year, with Saudi Arabia accounting for more than half of the total as it ramps up its Vision 2030 economic diversification plans. Saudi Arabia make up $64 billion of the combined value, followed by the UAE ($23 billion), […] February 1, 2023 Posts navigation Previous 1 … 3 4 5 Next
Finance PIF top spender among sovereign funds in 2023 Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF), was the top spender worldwide among state-owned investors, the 2024 Global Sovereign Wealth Fund report has revealed, underlining the kingdom’s determination to reallocate its hydrocarbon revenues to diversify and expand its domestic economy. State-owned investors include sovereign wealth funds (SWFs), public pension funds and central banks, […] January 1, 2024
Finance Dubai’s investment arm almost doubles profits Transport and finance have helped the Dubai government’s investment body almost double profits for the first half of the year. Investment Corporation of Dubai (ICD) reported an 86 percent rise in first-half net profit on Thursday as earnings from its financial services and transportation divisions surged. ICD, which is the Dubai government’s main investment unit, […] November 23, 2023
Construction Gulf contractor ALEC’s five-year plan to double business ALEC Engineering and Contracting, the company behind some of the Gulf’s biggest projects, is looking to double its business in the next five years, with Saudi Arabia making up a core part of its plans. Developments already under their management include the UAE’s first casino and Saudi Arabia’s entertainment city. Barry Lewis, ALEC’s recently appointed […] October 18, 2023
Analysis Banking and Finance Gulf sovereign wealth funds vary recipes for success Gulf sovereign wealth funds are pursuing differing investment strategies when it comes to the way they buy into target companies, according to a report by analyst Global SWF Institute. The paper highlights how the Kuwait Investment Authority (KIA) and Investment Corporation of Dubai prioritise buying into target assets via funds, while Saudi Arabia’s Public Investment […] August 3, 2023
Banking and Finance Dubai sovereign wealth fund sees profits rise five-fold Investment Corporation of Dubai (ICD) reported a five-fold rise in annual net profit on Wednesday as the government-owned holding company benefited from soaring hydrocarbon and transportation-related revenues. Dubai’s sovereign wealth fund owns Emirates and FlyDubai airlines, travel agency dnata, Emirates National Oil Company and stock exchange operator Borse Dubai. It also holds major stakes in […] May 31, 2023
Analysis Aviation Emirates’ record dividend lifts total paid to Dubai past $6.5bn The record AED4.5 billion ($1.2 billion) dividend paid by Emirates Group for 2022-23 has pushed the Dubai government’s total earnings from its flagship airline past $6.5 billion. The group’s annual report released last week showed that over the past 34 years, it has paid 28 dividends to its owner – the Investment Corporation of Dubai, […] May 16, 2023
Aviation Emirates soars to its most profitable year Emirates airline has recorded the most profitable 12 months in its 38-year history, despite operating costs soaring 57 percent. Dubai’s flagship carrier reported a profit of AED10.6 billion ($2.9 billion) over the last 12 months, a turnaround from a loss of AED3.9 billion in the previous financial year. The return to the black was a […] May 11, 2023
Retail GMG opens Egypt HQ with plans for 1,000 new jobs GMG, which manages more than 120 retail brands across the Middle East, North Africa and Asia, has announced plans to increase its Egyptian workforce 10-fold over the next four years. The retailer, headquartered in Dubai, said it has opened a dedicated office in Cairo to support plans to create more than 1,000 new jobs in […] March 13, 2023
Retail Dubai’s GMG buys supermarket and mall operator Aswaaq GMG, which manages more than 120 retail brands across the Middle East, North Africa and Asia, has announced a major expansion through the acquisition of the retailer Aswaaq. The Dubai-headquartered conglomerate bought Aswaaq from the Investment Corporation of Dubai, the principal investment arm of Dubai’s government. The deal adds a total of 11 community malls […] February 7, 2023
Construction Gulf project contracts to hit $110bn this year A combined $110 billion worth of project contracts are expected to be awarded in the GCC this year, with Saudi Arabia accounting for more than half of the total as it ramps up its Vision 2030 economic diversification plans. Saudi Arabia make up $64 billion of the combined value, followed by the UAE ($23 billion), […] February 1, 2023
