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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.

SIB’s 2024 profit $272m

The profit surpassed AED 1 billion for the first time in bank's history.

  • L’Oreal sales, profits surge

    Sales rose by 15.3% from last year to $36.9 bn.

    Sales rose by 15.3 percent from last year to 32.3 billion euros ($36.9 billion), marginally above the analyst consensus figures compiled by Bloomberg and Factset

    net profits hit 4.6 billion euros, up by more than a quarter from 3.6 billion in 2020 and 3.75 billion in 2019

  • Microsoft vows app store fairness

    The company is courting favor of antitrust regulators

    Microsoft president Brad Smith laid out a set of "Open App Store Principles" that will apply to the store it runs for Windows-powered computers

    Microsoft's $69 billion deal to buy video game powerhouse Activision Blizzard needs to pass muster with regulators in Europe and the United States

  • Growing cyber threat demands a united response

    A 2021 report by McAfee estimates the monetary loss from cybercrime globally to be approximately $945 billion. When you add...

    The dollar cost to organizations of all types due to cyber threat is staggering. It is estimated that the average cost of remediation in 2021 was $517,961 in the UAE

    The monetary loss from cybercrimes globally is put at $945 billion. When you add to this the global cost of cybersecurity products, it touches $1trn annually

  • Dubai plans to attract 50 multi-national companies under a three-year strategy

    Dubai plans to attract 50 multinational companies within three years and push the external expansion of 100 companies from Dubai...

    Drawn by Dubai International Chambers, the strategy will also push the the external expansion of 100 companies from Dubai to priority foreign markets.

    It will also support and motivate multinational companies to list on the Dubai Financial Market.

  • Dubai Islamic Bank issues $750m five-year sukuk

    Dubai Islamic Bank has successfully priced its $750 million five-year senior sukuk, taking advantage of global interest in Islamic bonds....

    The debt sale, a first in the UAE this year, attracted huge investor interest and was more than 2.5 times oversubscribed

    The bonds were priced at 95 basis points with a profit rate of 2.74 percent

  • SAN Group to invest in RAKEZ

    The firm will construct a sustainable hydrogen production unit in the zone.

    This biotech facility will consist of a research center, laboratory, desalination plant, greenhouse as well as hydroponic and aquaponic indoor systems.

    The project will be constructed with an investment of $3.2 million and will be operational at the end of 2022.

  • Covid lockdown in China makes aluminum costlier

    The Covid lockdown this week of a relatively unknown Chinese city sent global prices of aluminum rocketing to a 14-year...

    Located near the border with Vietnam, Baise is nicknamed the "aluminum capital of southern China"

    It produces about 2.2 million tonnes of the commodity per year -- more than 80 percent of the output in the resource-rich Guangxi region

  • DP World volume growth 9.4 percent

    All DP World regions delivered volume growth, especially India.

    2021 gross volume growth was broad-based with India, Asia Pacific, Middle East & Africa, Europe, Australia and Americas regions being the key growth drivers.

    Chief Executive Officer Sultan Ahmed Bin Sulayem said the performance was due to the company's continued investment in high-quality assets in the right locations.

  • EGA to build an aluminum recycling facility in UAE

    Emirates Global Aluminum is looking to set up an aluminum recycling facility with a capacity to churn out 150,000 tonnes...

    EGA intends to market recycled aluminum under the product name "EternAL," the company announced on Wednesday in a statement

    Feasibility studies for the project are underway. Production ramp-up could begin as early as 2024, the company revealed

  • Asian markets rise again as traders wait for US inflation data

    Signs of lower tensions between Russia-Ukraine have put investors at ease.

    Asian markets rose following a positive performance as traders prepared for the release of highly anticipated US inflation data

    Oil prices also enjoyed a small bounce on demand optimism after two days of losses fueled by several worldwide factors