Tech revolutionizes professional landscape for women
Women First Jobs offers tailored solutions for women in the UAE, overcoming societal norms and unequal access to opportunities, says...
Business
Qatar to ramp up gas output with new mega field expansion
At the start of this month, Qatar said it would supply 7.5 million tonnes of LNG per year for 20 years...
Economy
Business
Sharjah to showcase its FDI potential at Dubai Expo 2020
Invest in Sharjah has confirmed participation at the world’s biggest fair and announced it will host discussions and specialized activities...
- Sectors that will be promoted include culture and tourism, mobility and logistics, health and wellbeing and Greentech.
- Emirate's investor-friendly climate is reflected in six free zones and the integrated business and licensing services, said Invest in Sharjah.
Business
Union Properties begins work on townhouses in Dubai’s Motor City
Union Properties, the Dubai-based developer, has begun work on the construction of Motor City Hills, building three-story townhouse villas.
- The company has just signed an investment agreement with real estate firm Aqua Properties
- Motor City Hills is Union Properties’ latest project in the heart of Dubai’s Motor City
Business
UAE’s ADNOC Drilling to list on Abu Dhabi Securities Exchange
ADNOC Drilling will list on Abu Dhabi Securities Exchange on October 3. The company will list under the trading symbol...
- In the first week of September, the ADNOC subsidiary floated 11 percent of its share capital in an initial public offering (IPO) at 2.3 dirhams ($0.6262) per share
- In a statement the exchange said the company will list under the trading symbol ADNOCDRILL
Business
Al Mazaya’s subsidiary to sell Saudi firm stake
First Dubai Real Estate Development Co. board cleared the $51.4m deal.
- The board also approved to set off its entire accumulated losses by reducing its capital to 74.129 million dinars from 100 million dinars.
- In May, Bait Al-Amar Al-Khaleeji General Trading and Contracting has purchased 60.029 million shares of Al Mazaya Holding.
Business
Rush to invest in Saudi mining sector heats up, 4073 applications received
Saudi Arabia has been flooded with license applications from investors at home and abroad to invest in its mining sector....
- The Kingdom plans to launch a comprehensive geological survey to map the country’s mining potential
- According to geological surveys dating back 80 years, the Kingdom has an estimated reserve of untapped mining potential valued at $1.3 trillion
Business
UAE’s Amanat sells stake in Saudi IMC for $118m
The United Arab Emirates-based healthcare and education investment company, Amanat Holdings, has sold its 13.13 percent of minority equity stake...
- The sale is expected to net a gain of $11mln
- Amanat held this stake through its 100 percent holding via subsidiaries in Saudi Healthcare and Education Fund
Business
Panasonic completes acquisition of Blue Yonder for $8.5bn
Panasonic has now purchased the remaining 80 percent of shares of Blue Yonder, adding to the 20 percent which Panasonic...
- The acquisition has completed antitrust clearance procedures and received approval of regulatory authorities in the US and other countries
- The acquisition has completed antitrust clearance procedures and received approval of regulatory authorities in the US and other countries
Business
Qatar First Bank acquires office building in US
Fourteen555 is QFB’s eighth shariah-compliant real estate acquisition in the USA.
- The building becomes the first multi-tenant office addition to QFB’s now eleven-asset strong portfolio, the bank said.
- Major tenants of the building include billion-dollar revenue firms such as Moss Adams and Infor.
Economy
UAE and KSA: Competing for a real estate pie
Saudi Arabia and the United Arab Emirates contributed about 70 percent of the total value of the Gulf Cooperation Council's...
- Saudi Arabia and the UAE contributed about 70 percent of the total value of the GCC's real estate deals in H1 2021
- Reports published by KAMCO Research claim Saudi Arabia provided 44% of the value of deals in the MENA region in 2021
Business
Saudi CMA looks to double $213bn funds under its control
The Saudi Capital Market Authority (CMA) intends to double the $213 billion funds under its management.
- The Capital Market Authority wants to create more jobs in the financial sector by increasing the assets under management
- The Fintech accelerator is helping to build the capabilities and talent required by financial technology companies
Tech revolutionizes professional landscape for women
Women First Jobs offers tailored solutions for women in the UAE, overcoming societal norms and unequal access to opportunities, says...
Business
Company News
ADNIC records 17% profit rise
Business
Latest News
Dubai Investments net rises to $157m
Real estate sector remains one of the key business verticals.
Business
UAE 2023 growth prospects face least risk in Middle East, Africa
Lower oil production, high inflation, tighter monetary policies, increased borrowing costs, and the rising cost of servicing debt continue to...
Economy
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Business
Empower H1 2023 revenue at $333m
The company’s EBITDA in H1 2023 was US$178 million.
- In the July 2022 to June 2023 period, Empower’s consolidated revenue was US$778 million.
- Empower CEO said the firm continues to expand investments in its portfolio of assets and infrastructure.
Business
Burjeel Holdings H1 net profit $61m
Firm's EBITDA rose 12.7% y-o-y to $127 million in H1 2023.
- Burjeel Holding reported revenue of US$599 million, up 13.9 percent y-o-y during H1 2023.
- The net profit was attributable to robust topline growth and significantly lower finance costs.
Business
ADNOC Drilling posts $446m net profit
The increase was attributed to expansion in fleet and services.
- ADNOC Drilling’s first half revenue increased to $1.4 billion, up 13 percent year-on-year.
- Second quarter revenue grew by 8 percent year-on-year to $724 million and by percent sequentially.