Business - TRENDS MENA

The rights issue aimed at boosting growth.

Tower infrastructure sale among factors responsible for the performance.
The Q3 report also reveals a net profit of SAR 285 million, showcasing a growth of 234 percent compared to the corresponding period in 2022.
The company said it has not only experienced growth in 5G revenue but also witnessed increased demand for consumer services.
The Group's third-quarter revenues grew by 9.5 percent.
In Q3 2023, IHC grew its total assets by 3.3 percent and reduced total liabilities by 1.3 percent (compared to December 2022).
The Group intends to remain focused on optimizing its balance sheet and improving shareholder returns, IHC said in a statement.
The company recently reported a net loss of US$4.9bn in Q3.
The chief executive Bill Anderson said in a statement that the company was not happy with "this year's performance"
Bayer said it plans to remove "multiple layers of management and coordination" by the end of the year
The company posted a 44 percent growth in revenues for 9M-period.
Revenu growth was driven by strong performance at the Education platform up more than two times, boosted by contribution from the recently acquired Human Development Company.
Amanat reported an increase in EBITDA by 65 percent year-on-year to AED173.7 million in 9M 2023, on track to significantly exceed the AED188 million recorded in full year 2022.
The company attributes the growth to surge in demand.
Operating revenues went up to $15.19 billion, marking a 2.2% increase compared to the same period in the previous year
The company attributed the revenue growth primarily to a surge in demand for electrical energy during the summer season
Dubai, UAE-- The UAE is a key market for French businesses due to its strategic location as a hub and...
The French official said that his country's exports to the UAE exceed $5.13 billion, while UAE imports from France exceed $2.67 billion
He said French exhibitors are looking to establish new partnerships, sign agreements, with specialized entities in the field of food industries
While the digital revolution continues to unfold, the core of customer trust and regulatory frameworks stays unshaken, shaping the future...
While the digital revolution continues to unfold, the core of customer trust and regulatory frameworks stays unshaken, shaping the future of banking in the region, says a report.
In the UAE, neobanks struggle with funding over trust issues in the absence of deposit insurance, while the CBUAE supports their growth, ensuring traditional banking stability.
ABU DHABI, UAE - The United Arab Emirates, represented by the Ministry of Finance (MoF) as the issuer, in collaboration...
The fifth auction of the UAE T-Sukuks program witnessed strong demand through with bids received worth US$1.57 billion.
The success is reflected in the market-driven prices, which was achieved by a spread of 4 to 11 bps over US Treasuries with similar maturities.
Riyadh, Saudi Arabia - In a step towards bolstering Saudi Arabia's renewable energy initiatives, the Saudi Power Procurement Company (SPPC)...
These projects are part of Round 4 of the National Renewable Energy Program (NREP), which aligns with Vision 2030's goals of optimizing the energy mix.
The first agreement comprises Masdar as the Managing Member, EDF Renouvelables as the Technical Member, and Nesma Company Ltd as the Consortium member.
ABU DHABI, UAE - A recent report revealed that 29 initial public offerings (IPOs) were recorded in the Middle East...
The report indicated that the MENA region witnessed six IPOs during the third quarter of this year with proceeds of US$523 million.
The report described plans to list shares for IPO in the fourth quarter of 2023 and early 2024 as still promising.