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ADNOC Drilling approves $788m dividend

The final cash dividend of $394m for 2024 was approved at the AGM.

Google says to buy Wiz for $32 bn

The all-cash deal brings Wiz into the Google Cloud operation.

Borouge proposes share buyback

The company had posted a 24% YoY increase in net profit to $1.24bn.

DAE to acquire 17 aircraft for $1 bn

This portfolio comprises 100 percent next-generation aircraft

DP World posts record $20bn revenue

The adjusted EBITDA rose by 6.7% to $5.5bn in 2024.

Emaar EC Q1 losses $45m

Emaar boasted a 15 percent year-over-year growth in property sales.
  • Argaam reported that the company's gross operating loss increased by SAR 3.3 million from SAR32.2 million in Q1 2022 to SAR 35.5 million the first quarter of this year.
  • Total shareholders’ equity, excluding minority interest, fell to SAR 6.48 billion as of March 31, 2023, from SAR 7.61 billion a year earlier.

Dubai, UAE — Emaar the Economic City Co. (Emaar EC) posted a net loss of SAR171 million ($45.59 million) for the first quarter of 2023, which is higher than the loss of SAR166 million a year earlier.

The company, however, narrowed its losses when compared to the loss of SAR530 million in the last quarter of 202.

Argaam reported that the company’s gross operating loss increased by SAR 3.3 million from SAR32.2 million in Q1 2022 to SAR 35.5 million the first quarter of this year mainly due to reduction in school revenue by SAR5.2 million due to transfer of school operation to a third-party operator.

Emaar EC also saw higher general and administrative expenses, impairment loss and financial charges as well as lower share of results of equity accounted investees and other income, Argaam reported.

Total shareholders’ equity, excluding minority interest, fell to SAR 6.48 billion as of March 31, 2023, from SAR 7.61 billion a year earlier.