Category Archives: Business & Investments

Business & Investments

UBF CEOs Consultative Council Reaffirms Commitment to Further Develop Banking Industry

Abu Dhabi, United Arab Emirates-April 30, 2025:

The CEOs Consultative Council of UAE Banks Federation (UBF), the sole representative and unified voice of UAE banks, held its first regular meeting for 2025 under the chairmanship of H.E. Mohammed Omran Al Shamsi, Vice Chairman of UAE Banks Federation and Chairman of the Board of Directors of RAKBANK, to discuss developments, challenges and their effects on the banking and financial sector, as well as ways to achieve the UBF’s strategic objectives for the current year (2025).

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Business & Investments

Sharjah FDI Office holds ‘Sharjah-Mexico Business Roundtable’ to expand investment across SME financing, real estate, and automotive sectors

The event was organised in collaboration with the Mexican Business Council and was attended by the Ambassador of Mexico to the UAE

  • Luis Alfonso de Alba: This event signals the great potential to expand commercial ties between Sharjah and Mexico… potential is huge and the time is right.
  • Mohamed Al Musharrkh: Sharjah and Mexico may be miles apart, but our ambitions are aligned. We share a belief in innovation, entrepreneurship, and the power of collaboration to create lasting impact.
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Business & Investments

RetailGPT: An AI-powered ally for UAE retailers

Dubai, UAE; 29 April 2025: As Dubai plays host to the world’s most forward-thinking minds at Dubai AI Week, RetailGPT, a generative AI Platform designed to bridge digital and physical retail, is showing how the sector can align with the country’s tech-enabled transformation.

A study of the retail market in the UAE shows that E-commerce, while growing rapidly, only represents about 15% of the market but is the primary driver of recent growth – a signal that UAE retailers must connect their digital and physical worlds to stay relevant, and  RetailGPT is built to do just that.

Sadique Ahmed, Pathfinder CEO

Backed by over 20 years of consumer behaviour data from tech solutions provider Pathfinder, RetailGPT turns shopper insights into action. The mobile-first platform uses Generative AI to help supermarkets personalise how they engage with customers – suggesting what they may want to see, buy, or return for, based on real patterns of behaviour.

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Business & Investments

United Foods Company reports strong FY2024 performance

Board of Directors proposes 100% cash dividend of paid-up capital, reflecting robust financial performance and dedication to consistent returns to shareholders

Financial Highlights (Year ended 31 December 2024):

  • Sales volumes increased 5.9%, highlighting strong market demand across core categories
  • Gross revenue reached record of AED 601.7 million, up from AED 589.4 million in 2023
  • Gross profit expanded 8% to AED 99.6 million, underscoring operational efficiency
  • Profit before tax and remuneration is increased by 22% to AED. 37.5 million
  • Net profit after tax and remuneration was AED 30.8 million
  • Earnings per share increased 11% to AED 1.02 (2023: AED 0.92), representing stronger shareholder returns
  • Total assets increased to AED 439.4 million, while equity reached AED 344.5 million

Dubai, United Arab Emirates – 29 April 2025 – United Foods Company (PSC) (DFM: UFC), a leading UAE-based food manufacturing and distribution company, announced financial results for the full year ended 31 December 2024.

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Business & Investments

Stellantis Middle East and Petromin Strengthens Anti-Counterfeiting Efforts with Major Enforcement Action in China

  • In collaboration with the official authorities, Stellantis successfully seized over 15 different fake parts
  • Using counterfeit parts like brakes, wheels and steering components can pose a severe risk to road safety

Dubai, United Arab Emirates – 29 April 2025 – Stellantis Middle East and its local Saudi dealer Petromin, has successfully halted a counterfeit spare parts manufacturing operation in China that was targeting Saudi Arabia.  Based on an inspection conducted by Petromin Stellantis’ field team, counterfeit parts were identified in the market In collaboration with its global team and the Chinese government, Stellantis disrupted a significant source of counterfeit automotive components entering a key regional market.

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