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ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Empower okays $119.1m H2 2025 dividend

The dividend is equivalent to 43.75% of paid-up capital.

Alujain widens 2025 loss

The increase in loss is due to impairment charges, weaker prices.

Masar 2025 net profit $262m

Higher land plot sales boost revenue and operating income.

Tasnee’s 2025 losses deepen

The petrochemicals' company's revenue also fell 17.7 percent.

  • Binance allegations stir up Middle East crypto market

    Amidst the escalating crackdown on key cryptocurrency players, the Middle East is emerging as a potential beneficiary and a new...

    Amidst the escalating crackdown on key cryptocurrency players, the Middle East is emerging as a potential beneficiary and a new frontier for the crypto industry

    Bahraini cryptocurrency firm Rain comes to the UAE, while Coinbase CEO's UAE visit hints at potential expansion. Zurich's Julius Baer is also eyeing Middle East

  • Aramco, 5 local firms to jointly work on project in Pakistan

    ISLAMABAD, PAKISTAN - Five Pakistani state-owned companies are set to collaborate with Saudi Arabia’s Aramco to execute a $10 billion...

    The proposed joint venture will establish a mega refinery in Gwadar with a capacity of 400,000 barrels per day.

    The government of Pakistan has already approved a refinery policy for new projects in the country.

  • Egypt calls for renewal of Black Sea grain export deal

    MOSCOW, RUSSIA -  Egypt's president on Friday called on Russia and Ukraine to find "urgent solutions" to allow the resumption of...

    Moscow withdrew from the agreement after protesting for months that parts of the deal that allowed for export of Russian fertilizer were not honored.

    Russia refused to extend a deal brokered by UN and Turkey, under which Ukrainian grain exports passed through the Black Sea to reach global markets.

  • ESG H1 net profit $162m

    The net profit increased by 831 percent year on year.

    The revenue for H1 2023 experienced an 81 percent growth, amounting to AED 266 million, as opposed to AED 147 million in H1 2022.

    ESG's total assets surged by 93 percent in comparison to December 2022, culminating in a value of AED 2.2 billion by June end.

  • Saudi club Al-Ahli signs Manchester City player Riyad Mahrez

    London, United Kingdom - Manchester City forward Riyad Mahrez has left the treble winners to join Saudi side Al-Ahli, the two...

    The 32-year-old Algerian winger joined Pep Guardiola's team in 2018 from Leicester, winning 11 major trophies at the club.

    City agreed a fee understood to be worth up to £30 million ($38.6 million) with Al-Ahli last week.

  • ExxonMobil Q2 profits $7.9bn

    Profits fell on lower refining margins, natural gas prices.

    Natural gas prices are down sharply from the year-ago period following a mild winter.

    The comparative weakness in refinery margins reflects sluggish economic conditions.

  • Dubai records $2.88 billion in weeklong real estate transactions

    Dubai, UAE -- A total of 3,252 real estate transactions worth over AED 10.6 billion ($2.88 billion) were conducted during...

    The DLD report showed that 319 plots were sold for AED 1.92 billion, while 2,137 apartments and villas were purchased for AED 5.75 billion.

    The total value of mortgaged properties for the week reached AED 2.53 billion. Meanwhile, 283 properties were granted between first-degree relatives worth AED 495 million.

  • PIF sets up tourism firm Asfar

    Firm Saudi Tourism Investment Company has been set up.

    The company will invest in new tourism projects and develop attractive destinations with hospitality, tourist attractions.

    The company will leverage Saudi Arabia’s unique strategic location between the three continents of Asia, Africa and Europe

  • Italy’s Eni Q2 profits down

    Adjusted net profit also fell down 49 percent in the second quarter.

    Like its competitors, Eni benefited last year from the spike in gas and oil prices, fuelled by the economic recovery after the pandemic and Russia's invasion of Ukraine.

    Eni posted a record net profit of 13.8 billion euros in 2022, its best result in more than two decades.

  • Tabreed H1 23 net profit $105m

    New customers and projects were added in H1 2023.

    In the first half of the year, Tabreed's revenue increased by 9.4 percent YoY to US$290 million, from US$265 million in H1 2022.

    Earlier this month, Tabreed started operating the cooling infrastructure, officially commencing its first operations in India.