logo
Ahlibank expanded credit card benefits by offering 25% cashback at ‘extra'

Ahlibank expanded credit card benefits by offering 25% cashback at ‘extra'

Zawya03-07-2025
Muscat: In line with its ongoing commitment to addressing evolving customer needs and consistently enhancing their experiences, ahlibank announced an exclusive, limited-time offer that provided its credit cardholders with a 25% cashback in Pearl Points – ahlibank's loyalty program – when shopping at 'extra' stores, as well as through the retailer's official app and website. This initiative reflected the bank's approach to delivering valuable offers that seamlessly integrated into customers' daily lives, adding meaningful value. The promotion applied to purchases made on 29 and 30 June 2025, allowing customers to accumulate up to OMR 30 in Pearl Points during the offer period.
Such offers reflect ahlibank's commitment to delivering quality rewards that align with its customers' aspirations, especially during the holiday and summer seasons. The bank continues to introduce a diverse range of offers both within the Sultanate and abroad, covering cinemas, dining, fashion, jewellery, and entertainment venues. By strengthening its partnerships with leading brands in the retail sector, ahlibank continues to develop tailored experiences that serve its customers and foster long-term relationships built on trust.
It is worth noting that 'extra' is one of the leading retail brands in the Sultanate of Oman and the wider region, offering a comprehensive shopping experience that combines innovation and quality in the world of consumer electronics and home appliances. With its extensive presence across the Middle East, 'extra' maintains a strong foothold and stands as the preferred shopping destination for over 12 million customers in the region, thanks to its diverse product range and exceptional service offerings.
By forging partnerships that align with customer interests, the bank reinforces its position as a forward-looking financial institution that integrates added value into its comprehensive service portfolio. As ahlibank advances its strategic growth agenda, initiatives like these reaffirm its unwavering commitment to delivering tangible value and continuously enhancing its customers' banking experiences.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Solidarity Bahrain reports $16.18mln profit for H1 2025
Solidarity Bahrain reports $16.18mln profit for H1 2025

Zawya

time28 minutes ago

  • Zawya

Solidarity Bahrain reports $16.18mln profit for H1 2025

Bahrain - Solidarity Bahrain, one of the largest insurance companies in Bahrain and a subsidiary of Solidarity Group Holding, announced its consolidated financial results for the second quarter ended June 30, 2025. During the quarter, the company has consolidated Bahrain National Insurance Company (BNI) and Bahrain National Life Company (BNL), effective April 1, 2025, in compliance with the applicable financial reporting standards. The company reported a net profit attributable to shareholders' funds of BD4.710 million for the three-month period ended June 30, 2025, compared to BD1.196m for the corresponding period in the previous year, representing a 294pc increase. The diluted earnings per share for the quarter stood at 27.72 fils, compared to 7.04 fils for the same period in 2024. For the six-month period ended June 30, 2025, the net profit attributable to shareholders' funds was BD5.968m, compared to BD2.447m for the corresponding period in 2024, reflecting a 144pc increase. The diluted earnings per share for the six-month period was 35.12 fils, up from 14.40 fils in 2024. The total net profit and surplus for the three-month period ended June 30, 2025 was BD4.559m, compared to BD1.501m for the same period in 2024, reflecting a 204pc increase. The total net profit and surplus for the six-month period ended June 30, 2025 was BD6.146m, compared to BD3.055m for the same period in 2024, representing a 101pc increase, primarily driven by the consolidation of BNI and BNL results, as well as gains recognised upon the reclassification of a financial investment to investment in associate as part of the consolidation adjustments. Total equity attributable to shareholders as of June 30, 2025 stood at BD46.618m, compared to BD39.511m as of end-2024, reflecting an 18pc increase. Total assets reached BD198.026m, compared to BD108.177m as of end-2024, marking an 83.1pc increase, mainly due to the consolidation of BNI and BNL in Q2 2025. The policyholders' fund reported a net loss of BD151,000 for the three-month period ended June 30, 2025, compared to a surplus of BD305,000 in the same period of 2024, representing a decrease of 150pc. For the six-month period, a net surplus of BD178,000 was recorded, compared to BD608,000 in 2024, reflecting a 71pc decrease. Recognised takaful contributions for the three-month period ended June 30, 2025 stood at BD26.808m, compared to BD13.138m in the same period of 2024, marking a 104pc increase. For the six-month period, contributions were BD40.462m, up from BD27.059m, reflecting a 50pc increase. Commenting on the company's performance, Solidarity Bahrain chairman Shaikh Khalid bin Mustahail Al Mashani said: 'We are pleased to report strong financial results for the second quarter of 2025, driven significantly by the successful consolidation of BNI and BNL. This strategic move marks a milestone in our journey, contributing to remarkable growth in profit, equity, and overall assets. The company recorded a 144pc increase in half-yearly profit, reflecting our ability to integrate, scale, and extract value from strategic acquisitions. Our continued focus remains on enhancing value for our shareholders, customers, and all stakeholders through sustainable growth and performance.' He added: 'We look to the future with confidence and are pursuing a long-term growth strategy aimed at delivering sustainable returns, ensuring Solidarity remains at the forefront of the local insurance industry. We are committed to expanding our business by seizing future growth opportunities, leveraging our deep-rooted expertise and solid experience in the insurance sector.' Solidarity Bahrain chief executive Jawad Mohammed added: 'The company's outstanding results in Q2 2025 reflect the significant impact of consolidating BNI and BNL as well as organic growth during this quarter. This milestone has strengthened our financial position and underscores our forward-looking growth strategy, vision, and proven expertise in mergers and acquisitions.' He continued: 'We remain committed to driving innovation and agility in our business model. As we have initiated the process of working towards a future merger with BNI and BNL, we aim to elevate our product and service offerings and deliver a more integrated, seamless customer journey. These efforts reinforce our ambition to lead the sector with a modern, resilient, and customer-centric insurance platform.' Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (

RAK Properties delivers robust H1 2025 performance
RAK Properties delivers robust H1 2025 performance

Zawya

time28 minutes ago

  • Zawya

RAK Properties delivers robust H1 2025 performance

Exceptional financial performance for the half year ended June 30th is indicative of a high-performing developer deeply embedded in a rapidly evolving real estate destination with evolving global reach KEY HIGHLIGHTS H1 2025 revenue increased by 27% to AED774.79 million Net Profit soared to 80% AED160.60 million Sales Value increased by 101% to reach AED1,411 million Sales backlog grows 42% YoY to AED 2,624 million giving clear visibility on future cashflow Operating Profit jumped 47% to AED204.15 million 42% increase in EBITDA to AED239.25 million showcases healthy cash generation and operational strength Strong financial position reflected in 3.5% total assets growth to AED8,290 million coupled with 3% boost to Capital and Reserves Ras Al Khaimah, UAE: RAK Properties (ADX: RAKPROP), Ras Al Khaimah's leading publicly listed property developer, today announced its financial results for the first six months of 2025, highlighting a clear upwards trajectory driven by solid growth and strong sales across its rapidly evolving Mina flagship destination. This period was defined by exceptional financial performance, a significant increase in sales value, and continued progress across RAK Properties' development pipeline. Underpinned by a robust balance sheet and an efficient business model that attracts global brands and partners, RAK Properties has balanced growth across its asset range. As Ras Al Khaimah solidifies its position as a global investment and lifestyle hub, RAK Properties continues to demonstrate its pivotal role as a high-performing developer with a long-term strategic outlook, deeply embedded in the emirate's economic ambitions ROBUST H1 2025 FINANCIAL PERFORMANCE RAK Properties recorded revenue of AED774.79 million for the H1 period, with Net Profit soaring by a remarkable 80% to AED160.6 million – compared to AED89.06 million registered for the first half last year. The newly released figures also resonated with a 101% increase in Sales Value to AED1,411 million – up from AED703 million last year. As a result, RAKP Properties' development backlog – a clear indicator of future revenue and cashflow certainty – stands at AED2,624 million, up 42% year on year. This was fueled by a 59% surge in the number of units sold – reaching 788 – a core indicator of both demand and consistently positive traction across RAK Properties' ecosystem of assets and projects. Overall, this clearly demonstrates RAK Properties' strong operational efficiency, expanding appeal, and market capture that continues to attract buyers and investors to one of the UAE's fastest moving real estate sectors. RAK Properties' consistent progress across its portfolio of residential and hospitality projects is revealed in a jump in Operating Profit for H1, which increased 47% to AED204.15 million – up from AED138.51 million last year. This is further underscored by a 42% increase in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) with H1 figures showing AED239.25 million – a reflection of the developer's operational strength. With this solid financial foundation propelling continued growth, RAK Properties' balance sheet remains robust. Recorded total assets grew by 3.5% reaching AED8,290.00 million, with this stable financial position, coupled with a 3% increase in Capital and Reserves to AED5,701million, this provides clear and positive visibility into the developer's revenue funds for future expansion plans and sustained investment. Investor confidence remains solid, reflected in RAK Properties' share price rising by 26.3% YTD to AED1.44 and Market Capitalisation reaching AED4,320 million by H1 2025 end. Abdulaziz Abdullah Al Zaabi, Chairman of RAK Properties, said: ' RAK Properties' robust H1 results are a testament to the remarkable growth and strategic vision that is driving both the company, and Ras Al Khaimah as a whole. As RAK Properties celebrates its 20th year, these impressive figures underscore a consistent plan that is yielding tangible success – a plan closely aligned with the visionary leadership of His Highness Sheikh Saud bin Saqr Al Qasimi. Our performance highlights Ras Al Khaimah's unprecedented appeal as a real estate destination and investment hub. The emirate's diversified economy, investor-friendly regulations, and growing population reflect an increasing demand for a new kind of modern, urban-beachfront community with Mina as its vibrant heart. Already home to world-class resorts, and with more branded hotels and residences taking shape, its success mirrors the emirate's broader vision to attract top-tier hospitality and investment from around the world – investment that continues to reshape both the emirate's coastline and skyline.' Sameh Muhtadi, CEO of RAK Properties, commented: 'Our H1 results show a successful six months for RAK Properties. We continue to see our success shaped by a steady stream of assets coming online, rising sales figures, and international interest in RAK as a place to live, invest, and thrive. So far this year, RAK Properties has solidified its role as a driver of the emirate's economic growth, with strong financial results supported by disciplined and expertly managed operations across diverse projects, from newly launched residential projects to landmark hotel announcements. The timely and steady growth of Mina – from new homes to critical infrastructure – signals our status as trusted and high-performing developer with the scale, vision, and expertise to achieve even more in the months and years ahead.' DELIVERY MILESTONES AND CONSTRUCTION UPDATES The delivery of high-profile projects at the Mina development will continue for the rest of 2025 and into 2026. Landmark projects, such as Bay Residences, Granada II and Cape Hayat are moving ahead steadily, while Bay Views, Edge, and Quattro Del Mar have also registered significant progress, moving through key construction phases, with major contracts awarded and site works underway. With progress across the RAK Properties' Mina development continuing at pace, over 800 units are scheduled to be delivered before year end – further, definitive proof of RAK Properties' strict adherence to its construction and delivery commitments and continued appeal to diverse stakeholders. MINA: FROM VISION TO DESTINATION With the earlier release of the luxury branded and serviced Anantara Mina Ras Al Khaimah Residences, which will consist of 19 villas and 84 apartments on the Hayat Island waterfront, RAK Properties has also expanded its range of five-star resort-level developments. This was followed by the launch of the ENTA residential concept in partnership with HIVE, a design-focused live-and-work residential concept, strengthens RAK Properties' expanding portfolio. The H1 results are built upon on solid foundations and reflect Mina's ongoing growth as part of RAK Properties' comprehensive master plan. Backed by a substantial AED5 billion development pipeline for 2025, Mina's transformative growth is driving ahead with the goals of the RAK Vision 2030 plan with ongoing investment in infrastructure and facilities to empower the emirate's long-term goal to evolve the key residential, retail, and hospitality sectors across the Mina waterfront development. Throughout the first half of this year, RAK Properties solidified landmark projects, including collaborations with Four Seasons – a pioneering project for the emirate – alongside ongoing agreements for the Nikki Beach Resort & Spa Ras Al Khaimah at Mina, and Porto Playa by Ellington, which are also taking shape. H1 also saw the launch of Solera, a new apartment community located on Raha Island. Representing the highly anticipated first stage of the Downtown Mina district, Solera will bring to market 451 units across three architecturally distinct buildings. A vibrant new urban hub, it will seamlessly link with the wider Mina master plan's ecosystem of amenities, including dedicated retail and F&B hubs, landscaped parks, and community spaces. ORGANISATIONAL STRENGTH AND LEADERSHIP GROWTH The Company's internal strength and long-term planning are critical components that proved key in achieving H1's positive overall results. RAK Properties continues to grow its workforce, onboarding highly experienced international, as well as local, talent in core sectors, from engineering, development, sales, and customer service. The addition of new staff has beencritical in expanding internal capacity and ensuring the overall organization is well positioned to achieve its upcoming growth plans. Introduced earlier this year, a fully digital Sales and Purchase Agreement (SPA) has proved to be pivotal to not only streamline transactions but also elevating the overall customer journey as part of the Company's drive towards ever-greater operational excellence. Building on its strong fundamentals, expanding portfolio, and evolving network of strategic partnerships, the remainder of 2025 sees RAK Properties well-positioned to deliver long-term value for shareholders. With Arqaam Capital, appointed earlier this year, as the liquidity provider for RAKP stock, as well as to partner for capital market initiatives, and audience engagement, the Company will continue to integrate organizational performance with enhanced communication and transparency As Ras Al Khaimah accelerates its transformation into a globally competitive destination for investment, lifestyle, and tourism, RAK Properties remains firmly at the forefront of the emirate's development – activating new, integrated communities, shaping new economic hubs, and contributing to the emirate's global appeal. POST PERIOD NEWS - GLOBAL BRAND PARTNERSHIPS The Armani Beach Residences Ras Al Khaimah, a landmark collaboration with Giorgio Armani and SIE Group, stands out as a pivotal moment in Mina's development. This exclusive partnership will feature the world's first Armani branded villas, setting new standards for luxury and further enhancing the global reputation of RAK Properties. A groundbreaking collaboration, the partnership announcement coincided with the 25th anniversary of Armani/Casa, the Giorgio Armani brand's 50th anniversary, and RAK Properties 20th anniversary. The development will take shape within a serene bay location on Raha Island – Mina's prime residential district. Each of the Armani Beach Residences Ras Al Khaimah's 41 villas and 32 apartments will embody the iconic designer's signature design and deep-rooted aesthetic, while also reflecting Mina's ultra-lux urban island living proposition. RAK Properties recently announced the official appointment of renowned hotel and hospitality architecture firm Denniston – responsible for many of the world's most luxurious hospitality and branded residential projects – as the lead design partner. This aligns with the project's clearly defined style and aesthetic, while also reflecting its status, its expansive appeal, and its central role within Mina's, and Ras Al Khaimah's, continuing growth.

DELTA Wealth Partners announces launch of AI and deep tech venture fund, anchored in ADGM
DELTA Wealth Partners announces launch of AI and deep tech venture fund, anchored in ADGM

Khaleej Times

time28 minutes ago

  • Khaleej Times

DELTA Wealth Partners announces launch of AI and deep tech venture fund, anchored in ADGM

DELTA Wealth Partners announced the launch of its new fund, the DELTA Future Fund 1 LP a venture capital investment fund dedicated to early-stage partnerships with founders advancing artificial intelligence, deep tech, fintech, and transformative digital solutions across the Middle East, Europe, and North America. Established as an Abu Dhabi Global Market (ADGM) limited partnership and registered with the Abu Dhabi Global Market's Financial Services Regulatory Authority (FSRA), this new fund reflects a long-term commitment to building the next chapter of responsible technology investment. DELTA Future Fund 1 LP is designed to enable investments in forward-looking sectors including AI, automation, quantum computing, and digital infrastructure reflecting the Middle East's emergence as a dynamic hub for technological innovation. 'Artificial intelligence is entering a new era. One where data, ethics, and foresight must converge to create real, lasting progress,' said Dr. Abdalla Kablan, the internationally recognised AI expert and CEO at DWP. 'With the DELTA Future Fund, we are focused on building a bridge between world-class founders and global capital, supporting ventures that are driven by both technical excellence and responsibility at scale.' DWP brings together a cross-border network, deep sector expertise, and its proprietary Artificial Wisdom investment framework to identify and work alongside founders whose missions align with building a better future. The firm's team comprises experienced entrepreneurs, technologists, and investment professionals with extensive backgrounds in company building and international market expansion. DWP's launch marks a new benchmark for innovation and ethical leadership at the intersection of MENA's strategic capital, Western technology, and robust regulatory oversight.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store