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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.
  • Despite unrest, it’s business before politics in West Bank town

    Violence may rage elsewhere, but it's business before politics in the occupied West Bank town of Nilin where Palestinian merchants...

    Nilin is no stranger to the realities of occupation -- a number of the town's residents have been killed in past clashes with Israeli forces

    The Jewish state's separation barrier cuts through its western edge, and Israeli settlements, regarded as illegal under international law, dominate the surrounding hilltops

  • Booking volumes up 195% YoY for Eid, says dnata Travel

    The top five most-booked destinations this year so far with dnata Travel include the Maldives, the UAE itself, Turkey, Mauritius,...

    This year, 65 percent of UAE travelers opted for worldwide destinations, while 35 percent chose staycations, according to dnata

    This is compared to 68 percent of travelers booking UAE staycations and 32 percent seeking international holidays in 2021

  • TA’ZIZ, Reliance ink pact

    TA’ZIZ taps Indian conglomerate for Ruwais project.

    Reliance is India’s largest diversified conglomerate and a strategic partner with Abu Dhabi National Oil Company

    The formal shareholder agreement was signed by senior executives during a visit of Mukesh Ambani, Chairman and Managing Director of Reliance

  • Free speech or hate speech? Fears for Musk’s Twitter

    Elon Musk describes himself as a "free-speech absolutist," leaving rights groups fearful that Twitter will provide a forum for hate...

    Civil activists are worried that means Musk, 50, will allow banned extremists back to the platform

    Like other social media networks, Twitter has struggled against disinformation, bullying and hate-fuelled content

  • Saudi Arabia lifts ban on poultry and eggs from Denmark

    Saudi Arabia had stopped the imports as reports of avian influenza, or bird flu, emerged from across the world.

    Food products have a significant role in Denmark’s economy

    Two-thirds of his country’s exports are mainly food products

  • Russia boycott echoes in UAE retail market

    Chanel stores in the UAE reportedly refused to sell products to Russian customers unless they signed a document committing not...

    Russian influencers have complained of experiencing ‘Russophobia’ by global brands but refuse to comment on the issue

    The UAE's anti-discriminatory and anti-hatred law clearly provides a solid legislative ground for the environment of tolerance, co-existence, and acceptance

  • Alphabet Q1 profit slips

    Shares sank nearly 5 percent to $2,257 on the news.

    Alphabet reported net income of $16.4 billion in the first quarter of the current year

    Its revenue climbed 23 percent to $68 billion compared to the same period last year

  • Dubai Chamber adds 10,000 new companies as members in Q1

    More than 10,000 companies joined Dubai Chamber of Commerce as members during the first quarter of 2022, marking a 64...

    Member exports and re-exports saw 11.3 percent growth over the same period last year, while their value reached AED 61 billion.

    The number of certificates of origin issued by the Chamber during the first quarter of this year amounted to 178,654 certificates, a growth of 7.1 percent from 2021.

  • Jordan and UAE groups join hands to develop beach project

    Jordan Free and Development Zones Group Director Arwa Hiyari said the beach project is aimed at diversifying tourism.

    The project features a tourism camp housing restaurants, swimming pools and top-notch chalets of different sizes.

    The project will also provide new services for Dead Sea visitors and create job opportunities, an official said.

  • Dubai real estate market records highest single-quarter deals since 2010

    Dubai real estate market recorded the highest number of transactions since 2010 registered in a single quarter and the highest...

    Q1 2022 recorded a total of 20,539 sales transactions worth AED 55.51 billion ($15.11 billion).

    The quarter had the highest number of rental contracts ever recorded in a single quarter and it had a total of 160,530 rental contracts.