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ADNOC Distribution 2024 net profit down 7%

Minus UAE corporate tax, it would have grown by 2.4% to $725m

Maaden raises $1.25bn in sukuk offering

The Sukuk were offered in a five-year and a 10-year tranche.

DAE net profit up 36.2%

Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.

Borouge 2024 net profit $1.24bn

The company said it will maintain a $1.3bn dividend for 2025.

ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.
  • Facebook accused of blocking Australian health sites

    "Facebook intentionally put lives at risk to protect its bottom line," said Whistleblower Aid chief Libby Liu.

    US based organization said that Facebook "overblocked" websites in Australia that were providing support for vulnerable people

    Australia had passed a law to force Facebook to negotiate with news content providers after the five days of blackout

  • Qatar’s migrant army queues for glimpse of World Cup

    The price of tickets means that most of those who waited up to two hours for the chance of a...

    Some tickets costing QAR40 ($11) have been reserved for Qatar's 2.8 million population, most of whom are foreign workers

    However, all the cheap tickets are apparently gone, and the cost of others was too high for those earning $275 a month

  • Saudi Arabia to attract $32bn investment in mining sector

    The investment is expected to be made in nine new projects across the country.

    The projects are aimed at supporting supplies of mineral products to local and international markets

    The ministry is currently studying 145 applications for exploration licenses from foreign companies

  • Reliance nets $100bn annual revenue

    With this turnover, it became the first Indian firm to cross the mark.

    The conglomerate reported a net profit of INR162.03 billion ($2.1 billion) between January and March

    This was 22.5 percent higher than the same period last year for the group, owned by Asia’s richest man

  • Brazil, Guyana agree to widen energy cooperation

    US giant ExxonMobil announced in April the discovery of three new oil deposits in Guyana, raising estimates of the country's...

    Guyana has emerged as one of the main low-cost oil production countries

    It is now preparing to auction offshore oil blocks at the end of the year

  • ‘Brain training’: the new frontier for eSports

    The days of playing your favourite game for hours at a time to stay competitive in eSports are gone, with...

    Team Liquid is one of the biggest in the professional eSports leagues and they are keen to keep their edge, with the focus on brain training adding to the use of coaches

    "We believe The Pro Lab will make waves in the eSports industry and beyond,” Dutchman Victor Goossens, founder and co-CEO of Team Liquid, said in a statement

  • ‘Like family’: Japan’s virtual YouTubers make millions from fans

    Mayu Iizuka sheds her soft-spoken personality and starts cackling, screaming and waving wildly in a makeshift studio in Tokyo as...

    The videos are designed to make fans feel they are interacting directly with their favourite animated idols

    Most fans spend only $1 per comment, but the most dedicated sometimes splurge $400 to post impassioned missives to their virtual idols

  • UAE: Where sustainable shopping can be a way of life

    If there is one country in the GCC where the idea of sustainable shopping can take off, it is the...

    what is sustainable shopping? It is a means in which you consume goods and services that considers the most efficient and beneficial options for all the species

    “Go green!” they say. “Shop green!” “Think green!” they say. The color green is associated with sustainability.

  • Stocks slide in Asia and Europe, pound drops to two-year low

    Asian and European stocks tanked Friday, accelerating a global selloff on fears over the impact of interest rate hikes that...

    The euro jumped to 85.77 pence, which was last seen late last year

    Rate tightening increases borrowing costs for consumers and businesses, harming economic recovery from the pandemic

  • US FDA limits use of J&J Covid vaccine

    The US said Thursday only adults who "have personal concerns" about mRNA vaccines, access issues or medical reasons for refusing...

    The vaccine, which was authorized as a single shot, is less protective than those developed by Pfizer and Moderna

    Thursday's decision by the Food and Drug Administration builds on that recommendation by limiting the J&J vaccine's emergency use authorization