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AD Ports to invest in Kazakh port

Under the deal, AD Ports Group owns 51% stake.

PIF acquires stake in Saudi Re

The acquisition was made by way of a capital increase.

ADNOC Gas awards contracts

The $2.1bn contracts are aimed at enhancing LNG supply infrastructure.

ADNOC L&S buys stake in Navig8

The company will acquire the remaining stake in mid-2027.

DAE to acquire Nordic Aviation Capital

The terms of the transaction have not been disclosed.

  • Aldar Properties awards contracts worth US$2.8bn

    ABU DHABI, UAE - Aldar Properties has announced the awarding of 49 contracts, totaling US$5.9 billion (AED22 billion), for a...

    The contracts are being recirculated to the local economy, in line with the National In-Country Value (ICV) program.

    The ICV program is crucial to economic and social development, job creation, and the growth of the national GDP.

  • DEWA 2023 net profit $2.15bn

    The system demand for power surged to 56.5 TWh in 2023.

    The fourth quarter revenue was AED 7.1 billion and net profit AED 1.8 billion. The full-year audited results are expected to be released in the first week of March 2024.

    DEWA’s annual consolidated revenue increased by 7 percent, mainly driven by an increase in demand for electricity, water and cooling services.

  • Disney profit beats forecasts

    The company is looking to tap into the passion for video games.

    During the earnings announcement, Disney chief Robert Iger also revealed that the entertainment giant is acquiring a "small equity stake" in Fortnite-maker Epic Games

    Disney is looking to tap into the passion for video games in general and "Fortnite" in particular with a $1.5 billion stake in Epic, according to Iger

  • Unilever annual profit drops 15%

    Group revenue dipped 0.8 percent to 59.6 billion euros.

    Chief executive Hein Schumacher said in the earnings statement that "competitiveness remains disappointing and overall performance needs to improve" at the group

    Schumacher, the former head of Dutch dairy and nutrition firm Royal FrieslandCampina, launched in October an action plan to grow Unilever

  • Gucci owner says profit fell 17%

    Sales retreated 4 percent to 19.57 billion euros.

    Kerin reported a 17 percent drop in net profit to $3.2 billion

    Sales of the Gucci owner retreated four percent to 19.57 billion euros

  • Shipping giant Maersk’s profit sinks

    The company warned of "uncertainty" due to Houthi attacks.

    Maersk said its net profit reached $3.8 billion last year, slightly more than forecast by analysts but down sharply from the $29.2 billion logged in 2022

    The group lowered its 2024 forecast for its core profit -- earnings before interest, tax, depreciation and amortization -- to a range of between $1 billion and $6 billion

  • Uber posts first annual net profit

    The company reported $37.3 billion in sales in 2023.

    Uber booked a net profit of $1.9 billion in 2023, compared with a loss of $9.1 billion in 2022, according to a statement

    The company's shares were down slightly in trading on Wednesday, but they have doubled in value in the past year

  • Kuwait leads GCC market gains amid regional tensions

    Despite challenges from regional tensions and fluctuating oil prices, sectors like F&B and pharma see notable increases, showcasing the diverse...

    Despite challenges from regional tensions and fluctuating oil prices, sectors like F&B and pharma see notable increases, showcasing the diverse impacts on regional markets.

    Kuwait led with a 6.6% gain, while declines in Qatar, Saudi Arabia, and Abu Dhabi were balanced by other markets, amid notable drops in energy, materials, and real estate.

  • Alibaba share buyback program up $25bn

    Following the announcement, the firm's shares rise 5% in trading.

    In the quarter ending Mar 31, Alibaba posted sales of 260.3 billion yuan ($36.7 billion), up five percent year on year, the firm said -- but below analysts' forecasts.

    Based in eastern China's Hangzhou, Alibaba is a key player in the country's digital sector and is considered a barometer of consumer spending in the world's second-largest economy.

  • Czech farmer cull 140,000 birds to halt spread of bird flu outbreak

    Prague, Czech Republic - Czech farmers have killed about 140,000 birds since the start of the year in a bid to...

    The infected birds had the highly pathogenic H5N1 bird flu strain, which is potentially transmissible to humans

    The three commercial farms, all in central Czech Republic, have had to cull 50,000 ducks and 90,000 chicken