Qatar to ramp up gas output with new mega field expansion
At the start of this month, Qatar said it would supply 7.5 million tonnes of LNG per year for 20 years...Business Energy
Air Arabia 2022 net profit $326m
FY'22 turnover rose to $1.4 billion, up 65 percent YoY.The average seat load factor – or passengers carried as a percentage of available seats – for the full year stood at a high 80 percent.
Air Arabia’s Board of Directors proposed a dividend distribution of 15 percent of share capital, which is equivalent to 15 fils per share.
Emirates Steel Arkan 2022 profit $138.44m
Revenue in fourth quarter of 2022 was $630m.The Group’s net profit for the full year 2022 was AED508.5 million compared to a pro-forma loss of AED636.7 million in financial year (FY) 2021.
The Group’s 4Q22 EBITDA was AED300 million, showing a continuing growth on the AED269 million achieved in the third quarter (3Q) of 2022.
DEWA, ENOC sign MoU
Aim is to develop hydrogen-based mobility pilot project.The MoU between DEWA and ENOC was signed at the World Government Summit 2023 in Dubai.
The project will utilize DEWA's existing green hydrogen production facility and ENOC's knowledge of the fuel market.
UAE-France-India trilateral cooperation discussed at Paris meet
Paris, UAE--The second technical UAE-France-India trilateral initiative has taken place in Paris during the visit of a UAE delegation from...UAE delegation was led by Assistant Foreign Minister for Economic and Trade Affaiirs Saeed Mubarak Al Hajeri.
The meeting discussed the adoption of the UFI trilateral cooperation roadmap.
Empower 2022 net profit $762m
Firm has proposed dividend of S$115 million for 2nd half 2022.The quality and sustainability of its services and advanced infrastructure has made it one of the world's largest player in the district cooling industry.
This performance reflects the confidence in Empower by its customers and stakeholders, and the economic boom of Dubai.
ADNOC Drilling 2022 net profit $802m
Full year earnings before EBITDA were $1.23 billion.ADNOC Drilling’s revenue for the year increased to US$2.67 billion, up 18 percent compared to 2021.
The company said it achieved record revenue ($733 million), EBITDA and net profit ($234 million) during the fourth quarter of 2022.
Dubai to see flying taxis launch in three years
Dubai, UAE-- Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai...Dubai has offered promises to launch flying taxis in the city already home to the world's tallest building and other architectural wonders
The city plans four “vertiports” by Dubai International Airport, the world’s busiest for international travel, downtown Dubai, the Palm Jumeirah archipelago and Dubai Marina
Boursa Kuwait posts profit
The stock exchange's net profit jumped 13% to $59m in 2022.The company also recorded operating revenue of $115 million over the same period, an increase of 12.8%
Its earnings per share increased 13.3% from 79.15 fils in 2021 to 89.67 fils for the financial year ended December 31, 2022
CBUAE unveils FIT program to promote digital transactions
Dubai, UAE---The Central Bank of UAE Sunday launched Financial Infrastructure Transformation Program (FIT program) to accelerate the digital transformation in...In a statement, the bank said the FIT is a step towards enabling the CBUAE to be among the top central banks globally.
As part of the FIT Program, the CBUAE will strengthen its digital leadership by adopting advanced supervisory technologies and data management solutions.
MENA startups raise $103 million in Jan
Startups in the Middle East and North Africa raised $3.94 billion in 2022, a 24 percent increase in investment value...In the first half of 2022, startups in the Middle East raised around $1.8 billion, according to a MAGNiTT report.
The fintech sector remained the most capital attracting sector last year, raising nearly $1.7 billion.
