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ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Empower okays $119.1m H2 2025 dividend

The dividend is equivalent to 43.75% of paid-up capital.

Alujain widens 2025 loss

The increase in loss is due to impairment charges, weaker prices.

Masar 2025 net profit $262m

Higher land plot sales boost revenue and operating income.

Tasnee’s 2025 losses deepen

The petrochemicals' company's revenue also fell 17.7 percent.

  • AUB to acquire Citi Bahrain unit

    The acquisition includes retail banking and credit card.

    Citigroup expects to close the transaction by the second half of this year, after which no changes will apply to the services provided to Bahraini customers.

    Citigroup plans to exit operations in 13 markets, including Bahrain, Australia, China, India, Indonesia and South Korea.

  • Lebanon central bank not bankrupt, says governor

    Lebanon’s Deputy Prime Minister Saadeh al-Shami claimed on Monday that the country and its central bank had gone bankrupt. The...

    Lebanon is in the third year of a financial implosion, which is widely blamed by experts on decades of corruption and bad policies

    These have led the currency to crash in value by more than 90 percent since end-2019, and banks to lock most savers out of hard currency

  • Amazon inks satellite deals

    Satellites in low orbit to provide internet service to people below.

    Amazon said that its contracts with Arianespace, Blue Origin and United Launch Alliance (ULA) are the largest commercial procurement of launch vehicles in history.

    The overall cost and timing of launches booked to make Amazon's Project Kuiper a reality were not disclosed.

  • Islamic banking tipped to grow in GCC

    Of recent, Islamic banking has been getting quite a boost from governments and financial institutions in the Gulf Cooperation Council.

    Islamic banks are prohibited from collecting or paying interest, which raises the question: How do they make a profit, or even stay in business?

    The answer is that they make money through equity participation, which requires a borrower to give the bank a share of their profits

  • Oman to generate 25 GW of solar, wind energy

    The country aims to produce 25 gigawatts (GW) of renewable solar and wind energy, which will be used to produce...

    The country aims to produce 25 gigawatts (GW) of renewable solar and wind energy, which will be used to produce over 1.5 million tons of carbon-free hydrogen per year.

    Najla Zuhair Al Jamali, Executive Manager of Alternative Energy at OQ said that GEO is at the vanguard of mega-scale green fuels projects

  • Dubai Financial Services Authority inks MoU with Central Bank of Mauritius

    The MoU places an emphasis on technologies pertinent to financial services, regulation and supervision.

    The MoU places an emphasis on technologies pertinent to financial services, regulation and supervision

    The two authorities will foster open dialogue on operational and technology risk supervision and anti-money laundering

  • ACI exports up 50% in Q1

    The growth was driven by medical supplies, dermatology, knitting sector.

    The United States, India, Saudi Arabia and Iraq imported JD940 million worth of ACI exports, which is more than half

    India came first with JD373 million imported in the first quarter of 2022 compared to JD157 million in the same period of 2021

  • Saudi Arabia launches platform with Homeland of Dates tag

    The Saudidates platform is expected to help the center promote digital transformation and digitize markets and the entire sectors.

    The National Center for Palms and Dates in Saudi Arabia has launched a platform called Saudidates

    The platform is one of the center’s projects to invest in the history and culture of the kingdom

  • Saudi Arabia to import 625,000 tons of wheat later this year

    The wheat is being procured from Europe, North and South America, and Australia, and will arrive in Saudi Arabia from...

    The Russian invasion of Ukraine has threatened the food supply of not just Saudi Arabia but the entire Middle East and North Africa region

    Saudi Arabia buys wheat, beef, and milk from both Ukraine and Russia and relies on them for various products, particularly agricultural products

  • Elon Musk buys 9.2% Twitter stake

    The investment is worth $2.9 billion based on Friday's share price.

    Musk became Twitter’s largest shareholder following the purchase of 73.5 million shares or 9.2 percent of common stock

    The Tesla founder is currently the world's richest man, with a net worth of $287.6 billion, according to various sources