INSEAD Day 4 - 728x90

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

  • Tencent is the owner of popular messaging app WeChat.

    Tencent's profit dropped to $27.3bn in 2022, after making a profit of $32.66bn in 2021.

    The drop in profit comes in the background of increased scrutiny on China's tech sector.

  • The UAE accounts for over 40% of Pakistan's trade with Arab countries, with non-oil exports from the UAE to Pakistan...

    UAE is Pakistan's leading investment partner in the Gulf and fifth at a global level, a report said at the end of 2021.

    The non-oil trade between the two hit the figures of $7 bn in 2022, marking an increase of 30 percent compared to 2021.

  • The venture is an extension of Ares’ credit and secondaries platforms, which respectively had approximately $214 billion and $22 billion...

    The JV seeks to capitalize on the anticipated growth and demand from general and limited partners for customized liquidity solutions for credit secondaries asset class.

    Dave Schwartz will serve as partner and head of the credit secondaries strategy and a member of the Ares secondaries executive committee.

  • Dubai, UAE -- Dubai real estate market recorded real estate deals valued at more than AED2.3 billion ($626 million) on...

    The deals included a total of 434 sales transactions worth AED1.83 billion, in addition to 86 mortgage deals of AED426.46 million, and 139 gift deals amounting to AED123.6 million.

    The sales included 395 villas and apartments worth AED944.57 million, and 37 land plots worth AED889.15 million.

  • At its Annual General Meeting, ADNIC okayed 40% dividend.

    The company’s gross written premiums increased by 20.1 percent to AED5.13 billion ($1.39 billion), compared to AED4.27 billion ($1.16 billion) for the same period in 2021.

    ADNIC's net underwriting income was AED490.9 million ($133 million), compared to AED491.9 million ($134 million) for the same period in 2021.

  • Bard, ChatGPT and other similar artificial intelligence apps churn out essays, poems or computing code on command and have taken...

    Google CEO Sundar Pichai told staff that after testing Bard with 80,000 Google employees, the chatbot would be tested with the public in US and Britain

    People wishing to play with Bard can sign up on a waiting list at bard.google.com website, distinctly separate from the tech giant's search engine

  • The company posted an increase of 41.7% in profit.

    The new fixed dividend policy stipulates that the company annually pays a minimum of 50% of its distributable net profit

    The company also approved the appointment of the Fatwa and Sharia’ Supervisory Board members for the year 2023

  • If the company raided is guilty of antitrust violations, it risks large fines but can be granted immunity if it...

    EU's executive arm said earlier its teams carried out unannounced inspections Monday at the premises of Red Bull.

    EU authority is probing allegations the company violated antitrust rules that prohibit cartels and restrictive business practices.

  • The company had reported a net profit of $182 m for 2022.

    A payout of 4.5 fils per share for the second half of 2022 would take the total dividend payment for 2022 to AED630 million ($171.5m)

    The increased payout reflects higher global energy prices and the company’s good operational performance for the year, Dana said.

  • Dividend of 13.5 fils per share highest ever in company's history.

    The dividend marks an increase of 1.5 fils per share on the 12 fils per share equivalent paid to shareholders in 2022.

    Tabreed said it added nearly 55,000 refrigeration tons of new connections in the UAE and across the region.