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IMF predicts global interest rate drop by mid-2024

The ongoing World Governments Summit 2024 (WGS) witnessed a pivotal plenary session headlined by Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), shedding light on the trajectory of global interest rates.…

Pinterest shares dip on weak outlook, revenue miss

Pinterest shares plummeted in extended trading on Thursday following the company’s disappointing revenue report and a weaker-than-expected forecast. However, the stock managed to recover some losses after Pinterest unveiled a new…

Aldar’s AED22 billion contracts boost UAE companies

Aldar Properties (“Aldar”) has disclosed the allocation of 49 contracts, totaling AED22 billion, for a spectrum of projects encompassing infrastructure, residential, commercial, and mixed-use developments throughout Abu Dhabi in 2023. These…

Adnoc Distribution hits $1b EBITDA milestone in 2023

ADNOC Distribution, a leading fuel distributor, has unveiled its financial results for 2023, achieving a significant milestone by surpassing $1 billion in earnings before interest, tax, depreciation, and amortization (EBITDA). The company…