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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.

Alpha Dhabi acquires interest in NCTH

The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.

Meraas awards construction contract

The $272m contract has been awarded for Bluewaters Bay.

  • TAQA to recommend $600m dividend

    The company has already paid $500m in quarterly dividends.

    The dividend payment will be in addition to the final payment of AED1.2 billion ($330 million).

    AED1.9 billion ($500 million) (1.65 fils per share) have already been paid in quarterly dividends.

  • Turkish drones make waves in Russia-Ukraine war

    Kyiv has around 20 Bayraktar TB2 drones, built by the Turkish military. Relatively cheap and effective, President Recep Tayyip Erdogan...

    But while they have proved their worth in several recent conflicts -- from Syria to Libya to Nagorno-Karabakh -- the terrain this time is less favorable, experts say

    The Ukrainian ambassador in Ankara has regularly tweeted images of explosions attributed to the drones, targeting Russian columns and artillery

  • Emirates opens office in Fujairah

    The office is located in Al Ghilaila Building, overlooking the Fujairah corniche.

    Emirates has worked in partnership with dnata Representation Services as its General Sales Agent (GSA) in Fujairah for the past three decades.

    The new retail sales office four customer service counters dedicated to flight reservations, ticketing, and general customer enquiries.

  • Demand for gas and wheat drives Suez Canal’s business up 15%

    The Suez Canal has seen a fifteen percent jump in business as ships carrying wheat and gas have filled the...

    Grain exports will make their way to Northwestern Europe while iron exports will go to Canada and Northwestern Europe

    the Suez Canal will begin applying additional fees, ranging from 5 to 10 percent of the transit fees, for various categories of ships transiting the channel

  • Aramco shares hit record high on the back of high oil prices

    Saudi energy giant Aramco's shares rose to a record high on Wednesday amid a surge in global oil prices following...

    Aramco's stock was trading at 42.9 Saudi riyals ($11.4) in Riyadh, according to the Saudi Tadawul market website

    Aramco had priced its landmark initial public offering at 32 riyals ($8.53) per share and it soared the maximum limit to 35.2 riyals on its market debut

  • Yahsat revenue $123m in 2021

    The company signed several contracts in Data and Mobility solutions businesses.

    Yahsat said it is well-positioned to grow in 2022, with approximately 70 percent of the Group's 2022 projected revenues contracted as of 31 December 2021.

    In 2021, Yahsat achieved an Adjusted EBITDA margin of 59 percent with Adjusted EBITDA of AED883.2 million [$240.5 million].

  • US finds Ericsson disclosures on Iraq graft ‘insufficient’

    Sweden's Ericsson said Wednesday that US authorities have found its disclosures about an internal inquiry into its conduct in Iraq,...

    The news from the telecom equipment maker sent shares tumbling more than 10 percent as the Stockholm stock exchange opened

    It revealed an internal Ericsson 2019 investigation that was never made public, identifying possible corruption over many years in the group's Iraqi operations

  • Romania-UAE Business Forum promotes economic collaboration

    Romanian business leaders were speaking at Romania-UAE Business Forum at Expo 2020 Dubai.

    Romanian business leaders were speaking at Romania-UAE Business Forum at Expo 2020 Dubai

    Private sector representatives from the UAE and Romania called for harnessing available opportunities to create joint investment ventures

  • Boeing halts Russia support

    It has stopped its Moscow operations and support for Russian airlines.

    Boeing suspended parts, maintenance, and technical support services for Russian airlines over Putin's invasion of Ukraine

    Apple has already stopped all its products sales in Russia while the EU has banned Russian state media from streaming

  • Master Works raises $40m

    The transaction was done by Merak Capital.

    Founded in 2010, Master Works offers products and services across multiple technology fields

    They include data management, AI, data strategy, API management, software development, and RPA