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Luberef net profit falls 7% in Q1

A fall in by-products sales leads to profit dip.

SABIC net loss $322 million

The company's net profit was $66m in Q1 2024

PureHealth posts $137m Q1 net profit

The Group's revenue increased 8 percent YoY.

Borouge Q1 net profit $281 million

The total dividend paid to shareholders in 2024 $1.3bn.

Emirates expects first 777X delivery in H2 2026

Boeing had pushed back the first delivery to 2026 from 2025.
  • Qatar Tourism and Clia announce partnership

    The partnership should help Qatar broaden its appeal for visitors ahead of and beyond the 2022 Fifa World Cup.

    Qatar welcomed 207,000 cruise visitors to Doha in 2019-20

    It reopened its borders on July 12 to fully-vaccinated international travelers, and is expecting tourism to pick up

  • Azizi Developments records 263% hike in broker registrations

    The developer has strengthened and expanded its broker relationships following the introduction of its revamped channel partner strategy

    The developer has strengthened and expanded its broker relationships following the introduction of its revamped channel partner strategy

    Higher commissions, weekly commission pay-outs, and rigorous broker training and assistance have contributed to the surge in registrations

  • UAE on way to become cashless economy by 2025

    According to World Bank, the UAE has about 61 automated teller machines (ATMs) per 100,000 adults, much more than the...

    According to World Bank, the UAE has about 61 automated teller machines (ATMs) per 100,000 adults, much more than the world’s average of 43 ATMs

    The central bank digital currency (CBDC) could be launched in the UAE and Saudi Arabia in the next two to five years

  • UAE on way to become cashless economy by 2025

    According to World Bank, the UAE has about 61 automated teller machines (ATMs) per 100,000 adults, much more than the...

    According to World Bank, the UAE has about 61 automated teller machines (ATMs) per 100,000 adults, much more than the world’s average of 43 ATMs

    The central bank digital currency (CBDC) could be launched in the UAE and Saudi Arabia in the next two to five years

  • Oman: Sohar Port increases production capacity by 14%

    Production capacity touched 545,000 tons in the port’s free zone, where 45 countries have investments.

    The port posted a 168% increase in handling vessel-mounted mobile goods by the end of the second quarter

    However, it dealt with 2.3% fewer standard container units within the same duration

  • Union Properties posts a total profit of AED 32 million in H1

    The company witnessed a positive shift in many business activities in the UAE in general and in Dubai in particular,...

    Contributing most to the positive results was revenues from customer contracts.

    Financing costs witness a significant decrease of 32 percent in H1 compared to the same period in 2020.

  • Khalid Al Qubaisi new ADES CEO

    Al Qubaisi served as a VP at Mubadala Investment Company.

    ADES, a TAQA subsidiary, is responsible for retrofitting government and commercial buildings.

    TAQA expects the appointment shows its ambition to become a champion for low carbon power.

  • Dubai property transactions up 50 percent in Q2: Report

    Increased international interest has been a key factor in driving residential transactions to near-record levels. Dubai’s handling of Covid-19 pandemic...

    Residential transaction volume totaled 14,426 units, a rise of 35.48 percent from Q1 2021.

    Palm Jumeirah saw the highest increase in villa rents, at 3.9 percent Q-o-Q.

  • BinDawood’s net profit down 50 percent for Q2

    Taking a direct hit from the Covid restrictions, BinDawood, the Saudi supermarket retailer, has reported a 50 percent dip in...

    The retail supermarket said net profit in the quarter ended June 30 was 95 million riyals ($25.33 million),

    The second quarter of last year "benefited enormously from pantry-buying in response to lockdowns"

  • Damac Properties posts $27.5m net loss

    Damac Properties, the Dubai-based developer, posted a net loss of $27.5 percent for the second quarter as compared to the...

    Lower quantum of revenue recognition and product mix impacted adversely

    The better performance of the company has been attributed to improvement in the property market

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