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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Arkan-Emirates Steel merger complete

Emirates Steel and SNIM to form joint venture company.
  • The transaction provides significant revenue diversification for the Combined Group
  • Arkan issued to Senaat a convertible instrument, which converted into 5.1 billion ordinary Arkan shares

Arkan Building Materials Company PJSC (Arkan), a leading construction and building materials company in the UAE, has announced the legal completion of its merger with Emirates Steel Industries PJSC (Emirates Steel), a leading integrated steel manufacturer in the Middle East.

The merger of Arkan and Emirates Steel (the Combined Group) creates the UAE’s largest steel and building material company with a compelling strategic proposition and strong potential for growth in the UAE and internationally.

The transaction provides significant revenue diversification for the Combined Group and marks the first time that investors have access to a steel producer on a UAE public market.

The Group is well placed to scale and grow, create new business opportunities and ensure that homegrown manufacturers are at the forefront of driving a sustainable, diversified national economy.

Under key terms of the offer, Arkan issued to Senaat a convertible instrument, which converted into 5.1 billion ordinary Arkan shares.