Category Archives: Business & Investments

Business & Investments

Ajman Bank Reports AED 134M Profit in Q1 2026

H.H. Sheikh Ammar bin Humaid Al Nuaimi chairs Ajman Bank Board meeting; profit before tax of AED 134 million in the first quarter

Total revenue up 22% to AED 443 million

Ajman, United Arab Emirates – 29 April 2026. Ajman Bank PJSC reported a strong first quarter on Wednesday, posting net profit before tax of AED 134 million and net profit after tax of AED 130 million, as total revenue rose 22% year-on-year to AED 443 million, reflecting growth across the Bank’s core financing, treasury and fee-generating businesses.

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Business & Investments

Enhancing Efficiency at Bahna Power Plant

  • Advanced Gas Path upgrades at Bahna are expected to help increase output and improve efficiency
  • Long-term services agreements for Bahna and Nubaria are expected to support reliable and efficient power generation
  • Project aligns with Egypt’s power infrastructure modernization and energy efficiency goals

Cairo, Egypt (April 29, 2026) – GE Vernova Inc. (NYSE: GEV) announced today that it received an order from Middle Delta Electricity Production Company (MDEPC), an affiliate of Egyptian Electricity Holding Company (EEHC), for projects at MDEPC’s Bahna and Nubaria power plants in Egypt. The scope includes two Advanced Gas Path (AGP) upgrades for the two GE Vernova 9F gas turbines at the Bahna power plant, along with multiyear services agreements for Bahna and Nubaria with terms of 15 and 8 years, respectively. The projects are expected to support efforts to modernize power generation infrastructure and improve operating efficiency. The order was booked in the first quarter of 2026.

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Business & Investments

Mashreq Partners with Cashew for Seamless Financing Solutions

Platform-level collaboration aimed at supporting evolving needs of digital ecosystems designed to make financing for essential and significant expenses more accessible

Dubai, UAE – 29th April 2026: Mashreq, a leading financial institution in the MENA region, and Cashew, a UAE-based fintech platform, are strengthening their collaboration to co-create an embedded lending framework that brings together regulated banking expertise and digital platform innovation.

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Business & Investments

GPCA and IRU join forces to drive safety in dangerous goods transport

Under the new agreement, GPCA and IRU will work together to strengthen safety, efficiency and sustainability in the cross-border transport of dangerous goods

Dubai, UAE – 29 April 2026: The Gulf Petrochemicals and Chemicals Association (GPCA), the voice of the chemical industry in the Arabian Gulf, is proud to announce it has signed a Memorandum of Understanding (MoU) with IRU, the world road transport organization, to advance safer dangerous goods transport.

Under the newly signed agreement, GPCA and IRU will work together to strengthen safety, efficiency and sustainability in the cross-border transport of dangerous goods, including chemical and petrochemical products.

The MoU sets out several priority areas for cooperation, including knowledge sharing, training and capacity building for stakeholders involved in dangerous goods transport.

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Business & Investments

AD Ports Group Partners with Azerbaijan for Strategic Trade Growth

Abu Dhabi, UAE – 29 April 2026: AD Ports Group (ADX: ADPORTS), a leading global enabler of trade, industry and logistics solutions, has signed a Memorandum of Understanding (MoU) with Azerbaijan Transport and Communications Holding (AZCON Holding) to explore strategic collaboration across ports, shipping, logistics, and digital trade solutions in Azerbaijan.

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