Boursa Kuwait posts $51m net profit
Operating profit for 2023 was recorded at US$59 million.Company News Business Economy
SEWA completes 10-km natural gas line to Al Zubair district
Sharjah Electricity, Water and Gas Authority (SEWA) has completed the implementation of a 10-km line project to connect the natural...The natural gas network and pumping stations operate according to the best technical specification, said Amna bin Hadda, Director of the Natural Gas Department.
She added that the SEWA is keen to encourage the residents of Sharjah to use natural gas as compared to using liquefied gas cylinders.
Saudi Central Bank launches POS between Saudi Arabia, Qatar
Upon the services launch, Mada and NAPS cardholders will be able to carry out POS transactions in the two countries...Upon the services launch, Mada and NAPS cardholders will be able to carry out POS transactions in the two countries through the Gulf Payments Network.
The central bank added in its statement that GCCNET enables GCC bank customers to execute ATM cash withdrawals in the host country’s local currency
‘Hero’ Lebanon hostage-taker turns self in after bank drama
The incident was the latest involving local banks and angry depositors unable to access savings that have been locked in...Official media said the suspect turned himself in when the bank agreed to give him $30,000 out of his more than $200,000 in trapped savings
Inflation is rampant in Lebanon, electricity is scarce and, according to the United Nations, around 80 percent of Lebanese live in poverty
Emaar Properties buys Dubai Creek Harbour for $2 billion
Emaar Properties announced Thursday it would fully acquire Dubai Creek Harbour, the major development located along the historic Dubai Creek...It is expected that Emaar will profit from 100 million square feet of future development at Dubai Creek Harbour.
Emaar recorded sales of AED 4.2 billion in 2021 and AED 3.6 billion sales in Dubai Creek Harbour in the first half of 2022
Al Dahra, CLAAS sign deal
The two firms will cooperate in agriculture sector.Al Dahra Holding Company and the German company "CLAAS" signed an MoU for the cooperation.
The MoU oversees the purchase of new machines, and maintain appropriate level of after-sales service.
Ma’aden H1 net profit at $1.6bn
H1 2022 net profit increased by 232 percentH1 2022 EBITDA increased by 128 percent, compared with the same period in the prior year, to $ 3billion.
Q2 2022 EBITDA increased to $1.8 billion reflecting robust sales performance.
ADNOC hires 13 jack up barges to boost offshore efficiency
Abu Dhabi National Oil Company (ADNOC) signed a $1.17 billion (AED4.3bn) for hiring 13 self propelled jack-up barges to drive...The jack up barges will enhance the capacity of its crude oil production to five million barrels per day (mmbpd) by 2030.
Deployed across ADNOC's offshore fields, it will support extensive operations, including project work and maintenance.
MoCCAE discusses food security with feed manufacturers in UAE
UAE's Ministry of Climate Change and Environment (MoCCAE) hosted a meeting with licensed feed manufacturers in the country to explore...UAE's Ministry of Climate Change and Environment hosts a meeting with licensed feed manufacturers to talk of enhanced food production
Participants highlight the importance of modern technologies in feed production and to adhere to the highest safety standards
CBUAE’s Financial Stability Report lists steps taken to help economy
The Central Bank of the United Arab Emirates has issued its Financial Stability Report for 2021, which outlines the measures...Among the steps were CBUAE's gradual exit strategy from the Targeted Economic Support Scheme as the UAE economic recovery commenced
The CBUAE also conducted risk-based supervision and solvency and liquidity stress tests to assess potential vulnerabilities.
DEWA H1 2022 revenue is $3.3bn
DEWA's net profit in H1 2022 is US$898 millionIn H1 2022, DEWA's revenue is US$3.3 billion (AED12.08 billion), and net profit is US$898 million (AED3.30 billion).
DEWA's first half revenue increase of 15 percent to $3.3 b (AED12.08 b) was mainly driven by an increase in demand.
