Latest news with #980
Gulf Today
3 days ago
- Business
- Gulf Today
DIFC records best ever performance for H1 2025
Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA), today announced its best-ever performance for the first half of a year, reinforcing its pivotal role in driving the future of finance and contributing to the Dubai Economic Agenda D33. In the first six months of 2025, DIFC saw a record number of new firms establishing operations in the centre, bringing the total number of active registered companies to 7,700, up from 6,153 in H1 2024 - a 25 percent year-on-year increase. Additionally, 1,081 new active registered companies joined DIFC between January and June 2025, a 32 per cent increase on the same period in 2024. The number of professionals working in DIFC rose to 47,901, marking a significant 9 per cent increase from 43,787 a year earlier. Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance and President of DIFC, said, 'The unprecedented results that DIFC continues to achieve across all fronts are a direct reflection of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai - a vision focused on positioning Dubai at the forefront of the world's most advanced financial centres. Dubai has entered a new and greater phase of growth, and these results highlight the competitiveness, attractiveness, and global confidence it enjoys. We firmly believe the future holds even more opportunities, and we will continue to strengthen DIFC's capabilities and its ecosystems that foster innovation, agility, and business growth.' Driven by DIFC's strategic initiatives and unmatched scale in the region across all sectors, Dubai has been categorised as one of only eight cities globally to possess 'broad and deep' capabilities across all parts of the finance industry in the Global Financial Centres Index (GFCI), standing alongside cities like London, New York, and Paris. Dubai is currently the sole centre in the Middle East, Africa and South Asia to be listed among the top GFCI ranked financial cities globally in several sectors: FinTech (5th), professional services (6th), investment management (8th), infrastructure (9th) and business environment (10th). DIFC continues to advance its position as the region's largest regulated financial services ecosystem. A total of 980 entities are now regulated by the DFSA, the independent regulator for business undertaken from or within DIFC, up 17 per cent year-on-year from 2024. Total Financial services authorisations grew 28 per cent year-on-year, reaching 78 in H1 2025 compared to 61 in H1 2024. DIFC's banking and capital markets cluster is unrivalled in the region, and growth aligns with the demand for broad and deep financial services capabilities to support the region's economic development aspirations. A total of 289 companies operate in this sector, up from 247 a year ago, a substantial 17 per cent growth rate. Dubai is home to the highest concentration of private wealth in any Middle Eastern city, according to Henley & Partners. This has supported growth in DIFC's wealth and asset management cluster, which is the biggest in the region. The number of firms in the sector increased to 440, up from 370 in H1 2024, growing 19 percent year-on-year. The centre is now home to more than 85 hedge funds, soaring 72 percent over the last 12 months and includes 69 billion-dollar funds. Over 10,000 funds are being managed or marketed from DIFC. DIFC's approach to supporting family businesses, including providing access to alternative investments through its wealth and asset management clients, and structures to support growth, continues to ensure the centre is their preferred location. The number of entities associated with family businesses operating in DIFC has risen to 1,035, up from 600 a year ago, marking a 73 percent increase. The number of foundations in DIFC has accelerated to 842, up from 548 in H1 2024, a 54per cent year-on-year increase. The insurance and reinsurance sector also experienced robust growth, with 135 related firms now operating in the ecosystem, increasing 8percent from 125 in H1 2024. During the first half of 2025, it was announced that Gross written premiums reached US$3.5 billion for 2024, compared to US$2.6 billion a year earlier – a significant 35 percent increase. New entrants to DIFC's expanding client base during H1 2025 include ABK Capital, Avaloq, Baron Capital, Bluecrest Capital, Bridge Investment Group, Cambridge Associates, China International Capital Corporation, dLocal, Manulife, National Bank of Kuwait, Pearl Diver Capital, PIMCO, RV Capital, Silver Point Capital, Tourmaline, TransAmerica Life Bermuda, Welwing Capital Management and many others. Essa Kazim, Governor of DIFC, said, 'DIFC remains the driving force behind Dubai's economic growth, as a key enabler of the financial services sector's expansion and diversification. Our consistent performance across all key sectors and rising global standing are evidence of our commitment to supporting innovation, attracting global capital, and reinforcing Dubai's status as one of the world's most competitive and diversified economies.' Arif Amiri, Chief Executive Officer of DIFC Authority, commented, 'In H1 2025, DIFC has exceeded expectations across every metric. Our strong performance demonstrates the power of our ecosystem, the scale of our platform, and the depth of expertise we bring to the industry. We remain committed to transforming the future of finance from Dubai and advancing our position as the region's number one global financial centre.' DIFC's innovation ecosystem continued to attract a growing number of technology-led firms. The number of FinTech and Innovation companies reached 1,388, up from 1,081 in H1 2024 a surge of 28 per cent, securing Dubai's position a one of the world's top five hubs for FinTech in the latest Global Financial Centres Index. During H1 2025, this contributed to an overall 28 per cent growth in total active non-financial entities, increasing to 6,335, up from 4,935 a year earlier. The centre's flagship events, the Dubai AI Festival and Dubai FinTech Summit, collectively attracted over 20,000 participants from over 120 countries. During these events and in support of DIFC's innovation agenda, the Dubai AI Academy was launched, and Dubai Future Finance Week was announced. Being held in May 2026, the week will bring together six major events, including the FinTech Summit, Future Sustainability Forum, and the Dubai Future District Fund AGM. Having launched Ignyte at the end of 2024, a growth platform targeting 100,000 founders, start-ups, and investor subscribers, has already redeemed benefits exceeding Dhs182 million. This reflects Ignyte's real economic benefit and demonstrates how the platform is an enabler for growth. Supporting the objectives of Dubai's Education Strategy 2033 and the Dubai Economic Agenda D33, the DIFC Academy has become a preferred choice for world-class universities. Amongst DIFC's partners, renowned universities including American University of Cairo, ESCP Business School, ESSEC Business School, Georgetown University, London Business School, Pantheon Assas University and SKEMA Business School offer 12 masters degree programmes. Through 32 active partners, 46,103 learners have completed programmes at the DIFC Academy since inception, including 4,947 during H1 2025 – the highest ever number in a six-month period. To drive long-term impact, DIFC has launched the '1 Million Learners' initiative with the support of 30 founding partners, under the Sustainable Finance Catalyst, which aims to equip one million individuals with sustainability knowledge by 2030. The initiative builds on the demand for sustainability-related training at the DIFC Academy, which has delivered 6,075 hours of related learning in H1 2025, taking the total programming to 22,241 hours from 42 courses. DIFC's legal and regulatory frameworks continued to evolve to keep pace with global developments. DIFC's legal framework features bespoke, best-in-class legislation, developed from leading international sources and standards to most effectively meet the needs of an international financial centre. This is complemented by a robust system of DIFC common law, with its substantial body of developed jurisprudence. This combination delivers an optimal balance of legal certainty, commercial flexibility, and judicial sophistication, positioning DIFC as the jurisdiction of choice for businesses across the region and globally. During H1 2025, the centre proposed to enact new Variable Capital Company Regulations. The proposed regulations seek to significantly enhance investment structuring and asset management options for proprietary investment in DIFC. Additionally, legal updates were proposed through the DIFC Laws Amendment Law, including refinements to the Law of Security, Insolvency Law and Employment Law, ensuring alignment with international standards. In a milestone achievement underscoring Dubai's growing influence in global governance, DIFC was selected to host the upcoming Global Privacy Assembly 2026, the premier global forum for data protection and privacy authorities. DIFC's real estate portfolio continues to support Dubai's urban development ambitions. Inventory that was provided to the market for the recently launched DIFC Heights, sold out in three days, underscoring strong demand for premium living in the financial district. Over 1.6 million square feet of commercial space is currently under development, and construction is being accelerated to meet demand. The new space will be ready for occupancy starting from Q1 next year. DIFC also launched a new data platform enabling third-party access to real estate information, aligning with the Dubai Real Estate Strategy 2033. WAM
Al Etihad
4 days ago
- Business
- Al Etihad
Dubai International Financial Centre records best ever performance for H1 2025
28 July 2025 11:49 DUBAI (ALETIHAD)Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA), Monday announced its best-ever performance for the first half of a year, reinforcing its pivotal role in driving the future of finance and contributing to the Dubai Economic Agenda the first six months of 2025, DIFC saw a record number of new firms establishing operations in the centre, bringing the total number of active registered companies to 7,700, up from 6,153 in H1 2024 - a 25 percent year-on-year 1,081 new active registered companies joined DIFC between January and June 2025, a 32 percent increase on the same period in number of professionals working in DIFC rose to 47,901, marking a significant 9 percent increase from 43,787 a year Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister of the UAE, Minister of Finance and President of DIFC, said, 'The unprecedented results that DIFC continues to achieve across all fronts are a direct reflection of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai - a vision focused on positioning Dubai at the forefront of the world's most advanced financial centres."Dubai has entered a new and greater phase of growth, and these results highlight the competitiveness, attractiveness, and global confidence it enjoys. We firmly believe the future holds even more opportunities, and we will continue to strengthen DIFC's capabilities and its ecosystems that foster innovation, agility, and business growth.'Driven by DIFC's strategic initiatives and unmatched scale in the region across all sectors, Dubai has been categorised as one of only eight cities globally to possess 'broad and deep' capabilities across all parts of the finance industry in the Global Financial Centres Index (GFCI), standing alongside cities like London, New York, and is currently the sole centre in the Middle East, Africa and South Asia to be listed among the top GFCI ranked financial cities globally in several sectors: FinTech (5th), professional services (6th), investment management (8th), infrastructure (9th) and business environment (10th).DIFC continues to advance its position as the region's largest regulated financial services ecosystem. A total of 980 entities are now regulated by the DFSA, the independent regulator for business undertaken from or within DIFC, up 17 percent year-on-year from Financial services authorisations grew 28 percent year-on-year, reaching 78 in H1 2025 compared to 61 in H1 banking and capital markets cluster is unrivalled in the region, and growth aligns with the demand for broad and deep financial services capabilities to support the region's economic development aspirations. A total of 289 companies operate in this sector, up from 247 a year ago, a substantial 17 percent growth is also home to the highest concentration of private wealth in any Middle Eastern city, according to Henley & Partners. This has supported growth in DIFC's wealth and asset management cluster, which is the biggest in the number of firms in the sector increased to 440, up from 370 in H1 2024, growing 19 percent year-on-year. The centre is now home to more than 85 hedge funds, soaring 72 percent over the last 12 months and includes 69 billion-dollar funds. Over 10,000 funds are being managed or marketed from approach to supporting family businesses, including providing access to alternative investments through its wealth and asset management clients, and structures to support growth, continues to ensure the centre is their preferred number of entities associated with family businesses operating in DIFC has risen to 1,035, up from 600 a year ago, marking a 73 percent number of foundations in DIFC has accelerated to 842, up from 548 in H1 2024, a 54percent year-on-year insurance and reinsurance sector also experienced robust growth, with 135 related firms now operating in the ecosystem, increasing 8percent from 125 in H1 the first half of 2025, it was announced that gross written premiums reached $3.5 billion for 2024, compared to $2.6 billion a year earlier – a significant 35 percent entrants to DIFC's expanding client base during H1 2025 include ABK Capital, Avaloq, Baron Capital, Bluecrest Capital, Bridge Investment Group, Cambridge Associates, China International Capital Corporation, dLocal, Manulife, National Bank of Kuwait, Pearl Diver Capital, PIMCO, RV Capital, Silver Point Capital, Tourmaline, TransAmerica Life Bermuda, Welwing Capital Management and many Kazim, Governor of DIFC, said, 'DIFC remains the driving force behind Dubai's economic growth, as a key enabler of the financial services sector's expansion and diversification. Our consistent performance across all key sectors and rising global standing are evidence of our commitment to supporting innovation, attracting global capital, and reinforcing Dubai's status as one of the world's most competitive and diversified economies.'Arif Amiri, Chief Executive Officer of DIFC Authority, commented, 'In H1 2025, DIFC has exceeded expectations across every metric. Our strong performance demonstrates the power of our ecosystem, the scale of our platform, and the depth of expertise we bring to the industry. We remain committed to transforming the future of finance from Dubai and advancing our position as the region's number one global financial centre.'DIFC's innovation ecosystem continued to attract a growing number of technology-led firms. The number of FinTech and innovation companies reached 1,388, up from 1,081 in H1 2024 a surge of 28 percent, securing Dubai's position a one of the world's top five hubs for FinTech in the latest Global Financial Centres H1 2025, this contributed to an overall 28 percent growth in total active non-financial entities, increasing to 6,335, up from 4,935 a year centre's flagship events, the Dubai AI Festival and Dubai FinTech Summit, collectively attracted over 20,000 participants from over 120 support of DIFC's innovation agenda, the Dubai AI Academy was launched, and Dubai Future Finance Week was announced. Being held in May 2026, the week will bring together six major events, including the FinTech Summit, Future Sustainability Forum, and the Dubai Future District Fund launched Ignyte at the end of 2024, a growth platform targeting 100,000 founders, start-ups, and investor subscribers, has already redeemed benefits exceeding Dh182 million. This reflects Ignyte's real economic benefit and demonstrates how the platform is an enabler for the objectives of Dubai's Education Strategy 2033 and the Dubai Economic Agenda D33, the DIFC Academy has become a preferred choice for world-class universities. Amongst DIFC's partners, renowned universities including American University of Cairo, ESCP Business School, ESSEC Business School, Georgetown University, London Business School, Pantheon Assas University and SKEMA Business School offer 12 masters degree 32 active partners, 46,103 learners have completed programmes at the DIFC Academy since inception, including 4,947 during H1 2025 – the highest ever number in a six-month drive long-term impact, DIFC has launched the '1 Million Learners' initiative with the support of 30 founding partners, under the Sustainable Finance Catalyst, which aims to equip one million individuals with sustainability knowledge by 2030. The initiative builds on the demand for sustainability-related training at the DIFC Academy, which has delivered 6,075 hours of related learning in H1 2025, taking the total programming to 22,241 hours from 42 legal and regulatory frameworks continued to evolve to keep pace with global developments. DIFC's legal framework features bespoke, best-in-class legislation, developed from leading international sources and standards to most effectively meet the needs of an international financial centre. This is complemented by a robust system of DIFC common law, with its substantial body of developed combination delivers an optimal balance of legal certainty, commercial flexibility, and judicial sophistication, positioning DIFC as the jurisdiction of choice for businesses across the region and H1 2025, the centre proposed to enact new Variable Capital Company Regulations. The proposed regulations seek to significantly enhance investment structuring and asset management options for proprietary investment in legal updates were proposed through the DIFC Laws Amendment Law, including refinements to the Law of Security, Insolvency Law and Employment Law, ensuring alignment with international a milestone achievement underscoring Dubai's growing influence in global governance, DIFC was selected to host the upcoming Global Privacy Assembly 2026, the premier global forum for data protection and privacy real estate portfolio continues to support Dubai's urban development ambitions. Inventory that was provided to the market for the recently launched DIFC Heights, sold out in three days, underscoring strong demand for premium living in the financial 1.6 million square feet of commercial space is currently under development, and construction is being accelerated to meet demand. The new space will be ready for occupancy starting from Q1 next year. DIFC also launched a new data platform enabling third-party access to real estate information, aligning with the Dubai Real Estate Strategy 2033.
The Star
03-07-2025
- Business
- The Star
Closed wellness chain ordered to refund two clients
Claimants duped by the wellness and spa company waiting to attend hearings at the Johor Consumer Claims Tribunal. A COMPANY manager was caught by surprise when the wellness and spa chain she patronised suddenly ceased operations in May. Molly Tea had signed up for 90 sessions worth RM4,400 with the Taman Nusa Bestari branch of the chain on Sept 12, 2024 and paid through 12 interest-free monthly instalments of RM366.67. 'I chose the body massage and head spa package,'' Tea said when met outside Johor Consumer Claims Tribunal at Menara Ansar, Johor Baru. 'I managed to go for 20 sessions of body massage and head spa. 'My mother went for five head spa sessions,'' she recounted. She made a booking for a body massage in May and was given a May 17 appointment date. 'But when I turned up for my appointment, the place was closed,'' she said. Tribunal president Hafez Zalkapli ordered the respondent to refund RM3,202 to the claimant within two weeks. In a similar case, a housewife and her husband only managed to go for five sessions before the closure of the chain's 29 branches. Lee Yan Shan had signed up for 80 sessions with the company's Mutiara Rini branch, paying RM168 in cash and RM2,232 via online bank transfer on March 30 this year. 'My first treatment was a two- hour body massage on April 6,'' she said. The claimant said that her husband, who works as an accountant in Singapore, went for two body massages. 'I told the person-in-charge that we were able to go for the massage only on Sundays,'' added Lee. The claimant said they attended five sessions on April 6, 13, 20, 24 and 27. 'I called them on May 1 to book our next appointment but was shocked to learn from my sister that the chain had ceased operations,'' said Lee. Hafez ordered the respondent, who was not present, to refund RM1,980 to the claimant within two weeks. Those who need assistance can call 07-227 1755 / 1766 or visit the Tribunal at Level 17, Menara Ansar, Jalan Trus, Johor Baru.
Mint
12-06-2025
- Business
- Mint
Monolithisch India IPO opens today; check GMP, subscription status, issue details, more
Monolithisch India IPO opens for subscription on Thursday, June 12 and will conclude on Monday, June 16. Monolithisch India IPO price band has been set between ₹ 135 and ₹ 143 per equity share, with a face value of ₹ 10 each. Investors can place bids for a minimum of 1,000 equity shares and in increments of 1,000 shares thereafter. Monolithisch India Limited produces and distributes specialized "ramming mass," a heat-resistant refractory utilised in induction furnaces for the iron and steel sector. The company's range of products includes SGB-777, SLM-999, BG-77, Quartzite Grain SLM -980, and SLM 980. As an ISO certified entity, the company focuses on manufacturing tailored ramming mass for heat insulation, which customers use as a refractory consumable in induction furnaces within iron, steel, and foundry operations. The primary customers of the company are iron and steel manufacturers located in Eastern India, predominantly in West Bengal, Jharkhand, and Odisha. The manufacturing facility is located in Purulia, West Bengal. The number of clients increased from 43 in 2023 to 61 by 2025. Monolithisch India's revenue surged by 41%, while its profit after tax (PAT) jumped by 70% from the financial year ending March 31, 2024, to March 31, 2025. As per the red herring prospectus (RHP), the company's sole listed peer is Raghav Productivity Enhancers Ltd (with a P/E of 88.64 times). Subscription for the public issue will open at 10:00 IST during Thursday's deals. Monolithisch India IPO consists of a fresh issue of 54,48,000 equity shares, aggregating to ₹ 82.02 crore. There is no offer-for-sale (OFS) component. The Monolithisch India IPO intends to use the net proceeds from the offering for several purposes, including financing capital expenditures for establishing the Company's manufacturing facility, making investments in its subsidiary, addressing working capital needs, and covering general corporate expenses. Hem Securities Limited serves as the book-running lead manager for the Monolithisch India IPO, whereas Kfin Technologies Limited acts as the registrar for this offering. The market maker for the Monolithisch India IPO is Hem Finlease Private Limited. Monolithisch India IPO GMP today is +36. This indicates Monolithisch India share price was trading at a premium of ₹ 36 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Monolithisch India share price is indicated at ₹ 179 apiece, which is 25.17% higher than the IPO price of ₹ 143. According to the grey market activities from the last seven sessions, the IPO GMP is trending upward today, suggesting a robust listing. The minimum GMP recorded is ₹ 10.00, while the maximum is ₹ 36, as per the insights from investorgain experts. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
The Sun
11-06-2025
- Automotive
- The Sun
Mitsubishi Motors Launches Enhanced Triton Athlete in Malaysia
MITSUBISHI Motors Malaysia (MMM), the official distributor of Mitsubishi vehicles in the country, is celebrating two decades of operations with the launch of an upgraded Triton Athlete. This latest iteration of the brand's flagship pick-up truck combines refreshed styling with improved practicality, reinforcing its reputation for rugged reliability and dynamic performance. The enhanced Triton Athlete arrives at a time when Mitsubishi Motors is marking 20 years of presence in the Malaysian market. As part of the celebrations, the company has rolled out a series of exclusive promotions and incentives for customers. The Triton Athlete, now offered at a revised price of RM159,980 (on-the-road, without insurance, for Peninsular Malaysia), features several design and functional enhancements. These include a more aggressive front bumper garnish that accentuates its commanding presence, a new styling bar that adds to its muscular profile, and a tailgate assist function designed to make loading and unloading more effortless. A decorative body decal also gives the vehicle a distinctive and personalised appearance. MMM has described the new Triton Athlete as a model that reflects its continued commitment to delivering high-quality, high-performance vehicles tailored to Malaysian drivers. The flagship pick-up has enjoyed sustained popularity in the market, with close to 120,000 units sold since its introduction. The model's enduring appeal stems from its ability to combine SUV-like refinement with off-road capability and day-to-day usability. Shinya Ikeda, CEO of Mitsubishi Motors Malaysia, stated that the Triton has become a trusted symbol of strength and dependability among local motorists. He added that the latest enhancements reaffirm the brand's dedication to evolving with customer needs while maintaining the vehicle's core appeal. According to him, the 20th anniversary is a moment to reflect on Mitsubishi's journey in Malaysia and to thank customers for their unwavering support. In conjunction with the anniversary, Mitsubishi Motors is offering an exclusive promotion for Triton Athlete buyers. For a limited period, customers may choose between a five-year free maintenance package or up to RM8,000 in rewards. The Triton Athlete is also backed by a five-year warranty with unlimited mileage, adding to its long-term value proposition. Financing packages through Maybank or Public Bank are also available, with interest rates starting as low as 0.6 per cent. These tailored offers aim to make the range-topping Triton Athlete more accessible to customers across the country. To further engage with the public, MMM is launching a nationwide 'Scratch & Win' contest beginning June 16. Customers who book a new Triton or XPANDER at any authorised Mitsubishi dealership will be eligible to participate. Upon vehicle registration and collection, they will receive a scratch card with prizes including the iPhone 16, iPad, iPods, Seiko watches, and THULE merchandise. As the company celebrates its 20th year in Malaysia, Mitsubishi Motors is using this milestone not only to highlight its achievements but also to reaffirm its focus on innovation, customer satisfaction, and value. The enhanced Triton Athlete stands as a testament to that commitment, offering drivers a compelling blend of style, functionality, and performance.
