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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 inks pact with SeaOwl to design unmanned vessels

    ABU DHABI, UAE - ADNOC Logistics & Services (ADNOC L&S) announced on Thursday it has signed an agreement with SeaOwl...

    The innovative design of the vessel is likely to reduce carbon emissions up to 30 percent as the vessel will be lighter and smaller.

    The design for the 55 meters long vessel will allow the vessels to be operated from an onshore control room through a satellite link.

  • Bank of England hikes interest rate to highest level since 2008

    The Bank of England lifted its key interest rate to the highest level since the 2008 financial crisis, noting inflation...

    Global policymakers are battling elevated inflation caused largely by runaway energy bills.

    Bank of England warned of "considerable uncertainties" on when UK inflation would return to its two-percent target.

  • Arabian Cement Q1 net profit $13.11m

    The net profit increased by 17 percent in Q1 compared to Q1 2022,

    The revenue for the first quarter reached SAR240.1 million, less 7.4 percent from SAR259.3 million during the same period last year.

    The company attributed the rise in net profit to an increase in the average selling price, decrease in cost of sales and decrease in selling and distribution expenses.

  • Aramex Q1 net profit down 49%

    Aramex said revenue was impacted by currency fluctuations, etc.

    Net Q1 profit declined by 49 percent YoY to $6.54m due to a mix of factors, including currency devaluation in certain markets.

    The company said its revenues -- which declined marginally by 1 percent YoY to AED 1.43 billion -- were driven by stable performance in International Express.

  • Aramco’s plans to produce blue hydrogen ‘remain unchanged’

    Dhahran, Saudi Arabia -- The Saudi Arabian Oil Company (Saudi Aramco) denied reports that its plans for blue hydrogen were...

    The energy giant denied reports that it has temporarily suspended plans to produce blue hydrogen.

    It targets to produce up to 11 million tons of blue ammonia, a carrier of blue hydrogen, by 2030.

  • Foxconn Q1 profit dips 56%

    Foxconn blamed the plunge on weakened demand.

    The net profit of Foxconn dropped 56 percent during the first quarter of 2023, compared to 2022 Q1, with a net profit $417 million.

    Foxconn said its sale is likely to drop during the second quarter of 2023 as well, citing 'slow season' as a reason for it.

  • e&, Vodafone form relationship

    As per pact, e& is a cornerstone shareholder of Vodafone.

    e& and Vodafone will explore offering joint cross-border digital services to multi-national customers and public sector organizations.

    Services will include fixed and mobile connectivity, Mobile Private Networks, IoT, cybersecurity, and cloud-based services.

  • Saudi Industrial Production Index up 4.1 percent in March

    Riyadh, Saudi Arabia -- Saudi Arabia's Industrial Production Index (IPI) increased by 4.1 percent in March 2023, compared to the...

    The kingdom's General Authority for Statistics (GASTAT) said the IPI rose to 134.8 points in March, according to the base year 2010, compared to 129.5 points in March 2022.

    The index of the mining and quarrying activity increased by 1.6 percent and the sub-index of the manufacturing activity increased by 10.5 percent over previous year.

  • Emirates Group yearly profit $3bn

    The group declared a dividend of $1.2 billion to its owner.

    The Emirates airline business alone banked $2.9 billion after returning a $1.1 billion loss in the previous financial year.

    The Middle East's biggest airline had posted a $5.5 billion loss for Covid-ravaged 2020-2021, its first in over three decades.

  • Nissan 2022 profit $1.6bn

    The company sold 3.16 million vehicles for the year to march 2023.

    Nissan registered a net profit of 220 billion yen for the financial year 2022, pipping its original predicted profit of 220 billion yen.

    The company said the gains were the result of sales improvements and cost-cutting, as well as favorable foreign exchange rate fluctuations.