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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.

  • ADNOC L&S gets new VLCC

    VLCCs carry almost 2 million barrels of crude per voyage.

    The vessel is the first of four dual-fuel engine very large crude carrier which can also run on liquefied natural gas

    ADNOC L&S has committed approximately $2 billion to build more environmentally efficient vessels.

  • Alibaba names new CEO, chairman

    The move fits in with its plan to reorganize business operations.

    Under the reshuffle, Joseph Tsai will serve as chairman and Eddie Wu as CEO -- replacing Daniel Zhang, who holds both roles, appointments will take effect on September 10

    Daniel Zhang said in a statement it was the "right time" for him to step down as Alibaba looks to implement a full spin-off of its advanced cloud computing unit

  • Islamic banks’ assets climb up to US$177bn in Q1 of 2023: CBUAE

    Abu Dhabi, UAE--Gross assets of the Sharia-compliant banks in the UAE climbed to $177 billion by the end of the...

    According to the CBUAE, there was an increase in Islamic banks' credit to US$109 billion toward the end of March 2023, an annual growth of 2.51 percent

    The apex bank noted the jump in the Islamic banks' deposits to US$123.45 billion in March 2023, an annual rise of 6.2 percent, from nearly US$116.26bn in March 2022

  • Saudi-French Investment Forum signs $2.9 billion worth of agreements

    The Saudi-French Investment Forum witnessed the signing of 24 MoUs and investment agreements, collectively valued at approximately $2.9 billion. The...

    The agreements provide opportunities for increased investment and collaboration in diverse sectors

    Trade volume between France and Saudi Arabia surged by over 80% in 2022, reaching $11.5 billion

  • Oman’s economic growth to reach 2.7 percent in 2024, says IMF

    MUSCAT, OMAN - Oman’s economic growth is expected to rebound to 2.7 percent in 2024 but will slip in 2023...

    The projections reflect the oil production cuts by OPEC+, moderate growth in the non-hydrocarbon sector and a slowdown in global economic activity.

    Oman's real GDP rose by 4.3 percent in 2022, basically on an expansion of the hydrocarbon sector.

  • ADIB, ADIO to fund businesses

    ADIB will facilitate the opening of Shariah-compliant bank accounts.

    This strategic move ensures that businesses have access to banking solutions that align with Islamic principles, ADIB said in a statement.

    ADIB will also provide financing options based on collateral in the form of on-ground operating assets such as real estate, equipment, and machinery, the bank said.

  • India’s IndiGo places record order for 500 Airbus A320

    Indian carrier IndiGo said it had ordered a 500 A320 airliners from European manufacturer Airbus at the Paris Air Show....

    Airbus boss Guillaume Faury said the signing was "an enormous milestone, to our knowledge and recollection no-one has ever ordered" so many planes at a stroke.

    With an order book now at over 1,300 aircraft, the contract also makes IndiGo Airbus' largest customer for the A320 family.

  • PIF to set up pharma firm Lifera

    Lifera is a development and manufacturing company.

    Lifera will primarily focus on producing life-saving and essential pharmaceutical products, including insulins, vaccines, plasma therapeutics.

    PIF has also invested in the National Unified Procurement Company (Nupco), a prominent provider of medical procurement, storage, and distribution services for medicines.

  • Combined profit of capital market institutions in Saudi Arabia falls

    RIYADH, SAUDI ARABIA -  The combined profit of capital market institutions in Saudi Arabia dropped 19 percent to US$306 million...

    The combined profit of capital market institutions in KSA was S$381 million in Q1 2022.

    Revenues fell 2 percent to US$730 million in Q1 2023 from $744 million in Q1 2022.

  • Mubadala investee firms sign pact

    The partnership involves Tata Power Renewables, Princeton Digital.

    Under the agreement, PDG and Tata Power Renewables have co-invested in a captive power plant that will supply electricity to PDG’s MU1 data center in Airoli, Mumbai.

    First power from the solar plant, located in the Nanded district in the Indian state of Maharashtra, will be generated in June 2023.