Masar signs $82m land deal

Agreements signed with Abdulmohsin Al Rossais & Sons Group.

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

  • Buna and PAPSS will act as payment gateways that link the Arab region to the African continent

    Buna and PAPSS will act as payment gateways that link the Arab region to the African continent

    The collaboration will support the growth of trade and investments between the Arab region and Africa

  • Britain's competition authority had stopped the FB-Giphy merger.

    Created in 2013, Giphy — a platform and search engine for GIFs — has some 700 million daily users

    Britain’s competition authority found Meta’s proposed takeover of Giphy would give it too much market share

  • Certain FMCG companies benefited from the pandemic since people spent more time at home baking and spending time together. As...

    Rising worldwide raw material and transportation costs have put pressure on FMCG profits

    The current global issues caused by rising oil prices is also impacting consumers and prices

  • Global stock markets slid Friday after the Federal Reserve warned of an aggressive tightening of monetary policy to tame runaway...

    Frankfurt and Paris stocks were down almost two percent in late afternoon deals while London lost one percent

    In Asia earlier, Tokyo stocks slid more than 1.5 percent even as inflation data from Japan was in line with market expectations

  • The company said it added about $653m to Abu Dhabi's economy.

    The company said it made significant investments and expanded its mandate to the leisure tourism sector, which contributed to a strategic approach to diversifying the portfolio.

    In collaboration with SEHA, ADNEC was a key player in delivering critical support for Abu Dhabi and the UAE in mitigating the impact of COVID-19, the company said.

  • The stock exchange established Shariah Advisory Committee.

    The committee consists of representatives from the Kingdom’s largest financial institutions, who will work towards a unified Shariah-compliant rulebook

    The committee will also undertake the responsibility of overseeing and approving the list of Shariah-compliant listed companies on a periodic basis

  • About 2,145 real estate and property transactions worth AED 6.3 billion ($1.71 billion) were conducted in Dubai during the week...

    A total of 250 plots were sold for AED1.12 billion, and 1,436 apartments and villas were sold for AED3.2 billion.

    The top transactions were a land sale in Hadaeq Sheikh Mohammed Bin Rashid for AED96 million, and another plot of land that was sold for AED52.5 million in Palm Jumeirah.

  • More than a dozen Chinese coal power projects overseas were cancelled after a ban last year on funding such plants,...

    China is the world's biggest emitter of the greenhouse gases driving global warming

    The cancelled projects would have generated 12.8 gigawatts of electricity -- or the total power generation capacity in Singapore, the think tank added

  • The so-called "poison pill" Twitter has proposed to use against Elon Musk's potential hostile takeover is a mechanism with a...

    To halt a takeover, the board plans to activate the pill if the Tesla CEO comes to own more than 15 percent of Twitter

    The "poison pill" was invented 40 years ago by business lawyer Martin Lipton to counteract a wave of hostile takeovers on Wall Street

  • The bank said it continued to maintain a strong liquidity.

    The bank said it recorded an increase in net impairment provisions amounting to AED 61.5 million, compared to AED 48.0 million for the previous period.

    Net income on financing and investment products increased by 11.6 percent, equivalent to an increase of AED 30.6 million.