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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.

  • Turkey discovers oil field with 100k barrels daily capacity: Erdogan

    The oil field discovery is set to yield a daily production of up to 100,000 barrels that will help Turkey...

    Erdogan said in a speech that Turkey has already begun supplying "high-quality" oil to refinery, with a productivity rate reaching about 100,000 barrels per day

    The president said that with reserves worth "tens of billions" of dollars, it will shore up Turkey's energy prospects and contribute to its economic growth

  • e& profit at US$600mn in Q1

    Its consolidated revenues rise to US$3.53bn in Q1 of 2023.

    Etisalat by e& added 13.9 million subscribers in the UAE, a 6 percent increase as against the same period of last year

    According to Brand Finance, e& has strengthened its position as the most valuable brand in the MENA region

  • Growth key focus as CSPs navigate digital landscape

    “These positive growth levels are driving both the urgency and confidence for communication service providers (CSPs) to undertake significant investment...

    Communication service providers are focusing on upgrading network security, expanding services to underserved communities, and capitalizing on new market opportunities.

    Challenges include maintaining quality service, addressing API risks, and ensuring app availability and security. Also, IPv6 transition isn't easy due to scarcity of IPv4 addresses

  • Pfizer Q1 profit at $5.5bn

    Profit fell on declining COVID-19 vaccine revenues.

    Shares of the pharma giant edged higher as Pfizer CEO touted an "unprecedented" number of new launches.

    Revenues fell 29 percent to $18.3 billion following a $10 billion drop from COVID-19 vaccine Comirnaty.

  • Federal Reserve begins rate talks that could hearld end of hikes

    With the Federal Open Market Committee (FOMC) widely expected to raise its base rate a quarter-point on Wednesday, analysts will...

    In March, the Fed held off a larger rate hike, instead opting for a quarter-point rise amid a banking crisis unleashed by SVB's collapse.

    Like the Fed's previous rate decision, the meeting on May 2 and 3 takes place shortly after one of the largest bank failures in American history.

  • DIFC, PwC launch program to boost tax settlement knowledge

    DUBAI, UAE- DIFC Academy announced a collaboration with PwC’s Academy to offer a globally recognized diploma program aimed at upskilling...

    Under the deal, DIFC Academy will offer the UAE Corporate Tax Diploma Program in collaboration with PwC’s Academy.

    The program was announced in preparation for the UAE Federal Corporate Tax Law, which comes into effect June 1, 2023.

  • Eurozone banks toughen lending criteria, says ECB

    FRANKFURT, GERMANY -  Eurozone banks tightened lending criteria in the first quarter at their fastest pace since the 2011 sovereign debt...

    A net 27 percent of banks reported a tightening of credit standards for loans to companies, meaning it is harder for the enterprises to borrow.

    Demand for housing loans declined, while there was a smaller decrease in consumer credit and other lending to households.

  • UAE airports record 56% growth in Q1 with 32m passengers: GCAA

    Abu Dhabi, UAE - Passenger traffic through the UAE's airports during the first quarter of 2023 increased by 56.3 percent...

    UAE's civil aviation sector has managed to restore pre-pandemic passenger traffic levels, Director-General of the General Civil Aviation Authority (GCAA), Al Suwaidi said

    The aviation sector in the country contributes about 14% of the gross domestic product, while in major countries, the aviation sector's contribution does not exceed 2 to 3%

  • BP back in Q1 profit

    In Q1 2022, BP posted its biggest loss ever at $20.4bn.

    BP posted for the first three months of 2022 its biggest quarterly loss ever, at $20.4 billion after taxes, after Western sanctions forced its exit from Russia

    The company also revealed that underlying profit dropped by one fifth to $5 billion, reflecting lower energy prices compared with one year earlier

  • Egypt signs transport investment deal with Japan worth US$734mn

    Cairo, Egypt--Egypt has signed its biggest investment package with Japan aimed at supporting the North African country's transportation development plan.According...

    Egypt will use the money to finance expansion of Cairo's metro, a 30-km stretch of land that would link Egypt’s 6th of October city to the Giza plateau

    Japan's investments in Egypt have gone up by 99 percent during 2021-2022, touching $73.7 million as against $37.1 million in the previous year