Bayanat Continues Momentum with Q1 2024 Financial Results
Revenue for the quarter reached AED 113 million, a 12% Year-over-Year growth, owing to the company’s strategic market expansion plans, and strong product and service offering
The company’s Gross Profit reached AED 32 million, representing a gross margin of 28%
EBITDA reached AED 8 million, representing a 7% margin, aligning with Bayanat’s IPO strategy to continuously invest in R&D
Q1 results were driven by Bayanat’s continued focus on the company’s key segments and Artificial Intelligence (AI) capabilities
Tally Solutions Opens Nomination for the Fourth Edition of ‘MSME Honours’
Dubai, UAE, 14th May 2024: Tally Solutions, a leading international business management software provider, opens nominations for their fourth edition of MSME Honours. The flagship annual property, MSME Honours aims to acknowledge budding businesses and entrepreneurs who have made remarkable contributions in the MSME ecosystem across geographies.
Joyalukkas Rolls Out Mega Expansion Plans in the USA.
New Showrooms Set to Open in Dallas & Atlanta.
USA – May, 2024: Joyalukkas, the esteemed jewelry brand, has announced the forthcoming openings and reopening celebrations of five of its USA outlets. Led by Mr. Joy Alukkas, Chairman of Joyalukkas Group, these events mark a significant step in the brand’s expansion strategy in the USA market. The inaugurations will feature new store unveilings in Dallas and Atlanta, alongside renovations and reopening’s in Houston, Chicago, and New Jersey.
UBF Chairman H.E. Abdulaziz Al-Ghurair:Consumer confidence in UAE banking rises to 90%, reflecting sector’s commitment to further growth
Accelerating digital transformation improves customer experience and provides customised services.
Emiratisation, sustainability, governance and supporting SMEs are our top priorities.
The performance of UAE banks confirms the strength and resilience of the banking sector, which is achieving solid financial metrics.
Dubai, United Arab Emirates – 14 May 2024:
H.E. Abdulaziz Al-Ghurair, Chairman of UAE Banks Federation (UBF), the sole representative and unified voice of the UAE banks, said that the increase in consumer confidence in the UAE banking sector from 84% in 2022 to 90% in 2023 reflects its continuous development, as customer trust is an important pillar in banking and finance. He explained that the UAE ranks above the global average in the Trust Index and ranks higher than prominent international financial centres, which confirms the banking sector’s ability to meet the requirements of diverse customer segments.
Construction Technology ConFEX (CTF) to Spearhead a More Efficient and Sustainable Construction Industry Through Technology
14 May 2024, Dubai – Ventures Connect proudly announces the much-anticipated Construction Technology ConFex (CTF) UAE 2024, set to take place from 3rd to 4th June 2024 at the esteemed Ritz Carlton JBR Hotel Dubai. Co-located with the Property Technology ConFex, this event stands as a beacon of innovation and collaboration, providing a crucial platform for industry leaders, innovators, and practitioners to gather, exchange knowledge, and explore cutting-edge advancements reshaping the construction landscape.
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