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Alpha Dhabi H1 profit $1.79bn

Adjusted EBITDA rises to $2.36bn.

Borouge Q2 net profit $193m

The H1 revenue stood at $2.72 billion.

ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

Warner Music Group buys out Qanawat Music

Qanawat will operate as a standalone company under WMG’s umbrella.
  • This comes as part of the multinational entertainment and record label conglomerate's plans
  • Qanawat Music will act as WMG's key domestic distributor and source of upstreaming opportunities

Warner Music Group has bought out Qanawat Music, the Middle East and North Africa’s leading music distributor, for an undisclosed sum.

This comes as part of the multinational entertainment and record label conglomerate’s plans to expand its footprint across the region.

Qanawat Music will act as WMG’s key domestic distributor and source of upstreaming opportunities.

It will operate as a standalone company under WMG’s umbrella.

Qanawat Music provides services to over 20 countries in the MENA region with presence in Dubai, Cairo and Casablanca.

It is also accountable for a major number of new releases in the region.

Reportedly, Alfonso Perez-Soto, President, Emerging Markets, Recorded Music said that WMG intends to take advantage of the rising global Arabic diaspora by exporting talents from the MENA region.