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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

DFM to list 10 new firms

The Dubai Financial Market. AFP File Photo
  • The Dubai Financial Market has listed 10 government and state-owned companies
  • The announcements came during the first meeting of the Securities and Exchange Higher Committee

Dubai deputy ruler Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum has announced the listing of 10 government and state-owned companies on the Dubai Financial Market or DFM, local reports have said.

The move is a part of accelerating new listings in various sectors including energy, logistics, and retail, said the reports.

Sheikh Maktoum, who is also the UAE’s Minister for Finance, also announced the formation of a Dubai Markets Supervisory Committee and specialized courts for capital markets in Dubai.

He said that, as part of the vision of Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum, Dubai aims to increase the total volume of its stock markets to AED3 trillion ($816.88 billion).

The announcements came during the first meeting of the Securities and Exchange Higher Committee chaired by Sheikh Maktoum.

The committee approved the establishment of a market making fund worth up to AED2 billion ($544.59 million) to increase liquidity in the markets.

The committee is also expected to launch a AED1-billion ($272.29-million) fund to support tech company IPOs and encourage innovative financial products and solutions.

It will also reportedly mandate the study of a regulatory framework to attract new digital assets to operate from Dubai, in addition to supporting Environmental, Social, and Governance (ESG) factors and reporting in operations.