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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.

  • Yahsat 2022 revenue up 6%

    The company recorded a revenue of $433 million for 2022.

    For the twelve-month period, Yahsat delivered growth in revenue and adjusted EBITDA, which increased 6 percent and 7 percent respectively year-on-year.

    Other highlights include Adjusted EBITDA of AED946 million ($258 million), up 7 percent year-on-year, delivering a margin of 60 percent.

  • US, European stocks dip as traders mull US rates outlook

    US and European stocks dipped as dealers fretted that the Federal Reserve would push interest rates higher than expected and...

    Oil prices rebounded, while the pound extended gains won on Brexit deal alterations.

    Eurozone bond yields surged higher, with the yield on the benchmark German 10-year government bond rising to a 12 year high.

  • Iraq, OPEC’s second largest producer, imports oil products

    Dubai, UAE-- Iraq has imported oil derivatives - gasoline, kerosene and gas oil - worth more than $5 billion in...

    Iraq produces 4.58 million barrels per day and aspires to reach production of 6 million barrels by 2025

    The total imported quantities of oil derivatives for 2022 increased by 60.43 percent compared to 2021

  • SABIC 2022 profit down 28%

    The firms said margins will continue to be under pressure in H1.

    The net profit of SABIC, which is one of the largest petrochemical companies in the world, after taxes was 16.5 billion riyals ($4.4 billion).

    In a statement, SABIC said that its fourth quarter 2022 net income was 290 million riyals, 84 percent lower compared to Q4 2021.

  • Khalifa Fund announces winner of CEO Program

    ABU DHABI, UAE - Khalifa Fund for Enterprise Development, in partnership with the Abu Dhabi Department of Economic Development (ADDED)...

    The CEO program is a rigorous nine-month program that aimed to cultivate entrepreneurship and innovation skills.

    The program also helps build and grow ag-food tech ventures and contribute to the UAE's Food Security Strategy.

  • Bayer 2022 profits $4.3 billion

    The profit in 2021 was 1 billion euros, the company said.

    Sales rose by 8.7 percent to 50.7 billion euros, in line with analyst expectations.

    The results were boosted by record sales in the company's agricultural division, up more than 15 percent year-on-year to 25 billion euros.

  • Edmond de Rothschild to open advisory office in Dubai

    Dubai, UAE -Edmond de Rothschild Group has announced the opening of an advisory office, Edmond de Rothschild (Middle East), at...

    The Group has obtained an advisory license from the Dubai Financial Services Authority, which regulates services in DIFC

    Ali Raza Syed, Senior Executive Officer of Edmond de Rothschild (Middle East), will be leading the local office in DIFC

  • Dubai Holding acquires the iconic The Westin Paris – Vendome

    The hotel, with its ultra-prime location, is one of the most sought-after real estate assets in Paris, France.

    The hotel, with its ultra-prime location, is one of the most sought-after real estate assets in Paris, France

    The acquisition further strengthens Dubai Holding’s extensive portfolio of world-class assets in key gateway locations

  • CBUAE revokes exchange house’s license over ‘misconduct’

    Abu Dhabi, UAE -The Central Bank of the UAE (CBUAE) has revoked the licence of Dollar Exchange, an exchange house...

    The findings highlighted that the exchange house had a weak compliance framework and had failed to comply with its regulatory obligations

    The central bank, through its supervisory and regulatory mandates, works to ensure that all exchange houses, their owners and staff abide by the UAE laws

  • Careem to end Qatar operations

    The company did not offer any explanation for the decision.

    The announcement comes two months after the World Cup in Qatar, when Careem-branded vehicles transported visiting fans

    Careem was bought by Uber Technologies Inc. in 2019 for $3.1 billion, giving the US firm market dominance across the Middle East and Pakistan