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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.

  • Air Arabia to pay 15% dividend

    The shareholders approved dividend after record growth.

    The announcement of the dividend comes after the airline reported a record net profit of $327 million in 2022, an increase of 70 percent compared to 2021.

    Last year, the airline added 24 new routes to its global network from its operating hubs in the UAE, Morocco, Egypt, Armenia, and Pakistan

  • Inditex hits record profit

    Zara owner is the world's biggest fashion retailer.

    Inditex, like many other Western companies, closed up shop in Russia last year following the invasion of Ukraine and sweeping Western sanctions against Moscow

    The Spanish group underwent a leadership shake-up last year, with Marta Ortega, daughter of multi-billionaire founder Amancio Ortega, taking over as chairwoman

  • Shunned for long, KSA welcomes home top designer

    Western fashion was once largely taboo in Saudi Arabia, but with the kingdom undergoing great social changes, a designer is...

    Mohammed Ashi made his career abroad, training in the United States and working for Givenchy and Lebanese couturier Elie Saab

    International stars like Beyonce, Deepika Padukone, Zendaya and Cardi B wear his outfits, showing up on red carpets from the Oscars to Cannes

  • Apple loses to rival Samsung in Middle East smartphone market

    Dubai, UAE - Apple has lost ground in the Middle East smartphone market during 2022 to main rival Samsung, according...

    Samsung has enhanced its share in the smartphone market in the Middle East to 40 percent in 2022, up from 34 percent in 2021

    Xiaomi also lost market share, falling to 14 percent from 15 percent in 2021, while Transsion fell to 13 percent from 15 percent in 2021

  • Qatar stays committed to support SMEs, innovations

    The small and medium enterprises are an important component of the Qatari private sector, as they account for over 90...

    The Qatari economy maintained positive growth rates during 2022, recording over 4 percent growth during the second and third quarters, says the country's finance minister

    Speaking at the third edition of the SME Excellence Awards 2022, Ali bin Ahmed Al Kuwari also points out that SMEs are an important component of the Qatari private sector

  • UAE and Japan look to widen economic, trade, investment ties

    Tokyo, Japan--The UAE and Japan are looking to increase economic, trade and investment cooperation, and explore new economic opportunities of...

    Al Zaabi exhorted Japanese companies to utilize opportunities in Abu Dhabi and benefit from the UAE's position as a gateway to the Middle East, Africa, and South Asia

    Kodaira said that the meeting comes at a time when Japan and the UAE are beginning a new half-century of economic cooperation in different fields

  • Saudi PIF launches three initiatives to spur private sector growth

    Riyadh, Saudi Arabia -- Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has announced three key initiatives aimed...

    Local Content Growth Program, called MUSAHAMA, seeks to increase the share of local content spend in PIF's domestic portfolio to 60 percent by the end of 2025.

    The Private Sector Hub initiatve is a dedicated channel that is now live and will share supplier and investment opportunities with the private sector.

  • Meta to slash 10,000 jobs

    The firm also announced 5,000 other roles would remain unfilled.

    Meta had suffered a rough 2022 amid a souring economic climate, which forced advertisers to cut back on marketing.

    The company is also under pressure for making a huge gamble on the metaverse, the world of virtual reality.

  • Bahri posts $277m net profit

    The profit increased by more than 440 percent compared to 2021.

    The company attributed the increase in net profit to the increase in revenues—which rose by more than 60 percent to SAR 8.58 billion.

    In the oil transportation sector, Bahri's revenues have increased by SAR 2.01 billion, the company said in a bourse filing.

  • Mashreq facilitated $15.5bn in sustainable finance since 2021: Official

    Dubai, UAE -- Mashreq Bank, the oldest privately-owned bank in the UAE, has facilitated $15.5 billion in sustainable finance, Joe...

    The finance was facilitated between Jan 2021 and Dec 2022 in addition to wastewater treatment projects worth $1.36 billion.

    Mashreq has said it aims to increase the amount of sustainable finance that it facilitates to reach $30 billion by 2030.