Sharjah Islamic Bank Q1 profit rises 19.4 percent
Sharjah Islamic Bank (SIB) reported a 19.4 percent rise in first-quarter net profit, supported by higher income from Islamic financing...
Business
Alujain widens 2025 loss
Business
Masar 2025 net profit $262m
Business
Tasnee’s 2025 losses deepen
Business
AD Ports records $564 million 2025 net profit
The company said revenue grew 20 percent year-on-year to $5.65 billion, while net profit increased 16 percent, supported by strong...
Business
AD Ports Group 2024 net profit $484m
The Group's revenue increased 48 percent year-on-year.
- Net profit attributable to owners grew 24 percent YoY to AED1.33 billion led by strong operating performance.
- Total assets grew by 15 percent YoY to AED63.70 billion in 2024 while total equity increased 15 percent YoY to AED27.83 billion.
Nissan, Honda shares surge after merger talks scrapped
Nissan and Honda shares surged in Tokyo Friday after the auto giants confirmed they scrapped merger talks and Nissan detailed...
- Nissan shares soared 8.17 percent to 449 yen in early trade before easing to 439.5 yen
- Honda shares rose 4.46 percent to 1,498 yen, before easing to 1.487 yen
Business
Stocks mostly rise, oil falls as Trump fans Ukraine peace hopes
London, United Kingdom -- Major stock markets mostly rallied and oil prices retreated Thursday on hopes for an end to the...
- London was a rare faller owing to sharp losses to share prices of big companies, including Unilever, Barclays and British American Tobacco.
- With Russia being a major producer of oil, crude futures fell heavily on easing supply concerns, while the dollar lost some of its safe-haven support.
Business
TAQA net income $1.93bn in 2024
The company's revenues increased 6.7 percent year-on-year.
- TAQA said the net income excludes one-off items (AED 10.8 billion) related to the acquisition of a 5 percent stake in ADNOC Gas.
- The company's revenues increased 6.7 percent year-on-year to AED55.2 billion, driven by sustained Transmission & Distribution (T&D) growth.
Business
ADNOC L&S 2024 net profit $756m
The company's revenue increased by 29 percent to $3.54 billion.
- EBITDA rose by 31 percent to $1.149 billion (AED 4.219 billion) in the same period, driven by robust performance across all business segments.
- The Company's Q4 revenue increased by 6 percent year-on-year (y-o-y) to $881 million (AED 3.237 billion).
Business
UAE to launch DeepSeek-inspired AI models: Faisal Al Bannai
Dubai, United Arab Emirates -- The United Arab Emirates is planning to launch new artificial intelligence models inspired by China's DeepSeek,...
- The UAE is betting big on the transformational technology as part of its push to diversify its economy away from fossil fuels.
- The UAE launched Falcon in 2023, a large language model that compared favorably with industry leaders including OpenAI's ChatGPT.
Business
ADNOC Distribution 2024 net profit down 7%
Minus UAE corporate tax, it would have grown by 2.4% to $725m
- The company achieved its highest-ever (EBITDA) of $1.05 billion (AED3.86 billion), an increase of 4.8 percent year-on-year.
- The company's Board of Directors has recommended a cash dividend of $350 million (AED1.285 billion) for H2 2024.
Altman rejects Musk’s US$97.4 billion bid to buy OpenAI, as feud continues
After receiving backing from his OpenAI board, Sam Altman informed an Elon Musk-led group of investors that sought to buy...
- Musk is suing OpenAI's restructuring plans from a non-profit to a for-profit
- In a repartee, Altman offered to buy Twitter (X) for US$9.74 billion
Business
Chinese auto giant BYD to integrate DeepSeek, broaden self-driving tech
BYD will install its "God's Eye" autonomous driving system in at least 21 models, including the Seagull budget hatchback priced...
- The company also said it would integrate AI startup Deepseek's software into its cars, following domestic peers such as Geely, Great Wall Motors, and Leapmotor
- BYD is Tesla's biggest rival in China and increasingly abroad, and Monday evening's announcement led analysts to suggest a new price war might be on the horizon
Government chiefs and tech leaders gather in Paris for AI summit
Political and tech industry leaders were set to descend on Paris Monday for a two-day summit on artificial intelligence, hoping...
- Macron announces US$113 billion investments in AI in coming years in France
- China is opening an investigation into monopolistic practices by Google
Sharjah Islamic Bank Q1 profit rises 19.4 percent
Sharjah Islamic Bank (SIB) reported a 19.4 percent rise in first-quarter net profit, supported by higher income from Islamic financing...
Business
Company News
Alujain widens 2025 loss
Business
Masar 2025 net profit $262m
Business
Tasnee’s 2025 losses deepen
Business
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DP World 2025 revenue $24.4bn
Business
Aramco 2025 net profit $104bn, to pay $85.4 bn in dividends
Dubai, UAE -- Saudi Arabian Oil Co. (Aramco) reported a net profit of $104.7 billion for 2025, a decline from...
Business
Flynas posts 2025 loss despite revenue growth, Q4 profit rebound
Saudi Arabia’s low-cost carrier flynas posted a net loss of SAR 527 million in 2025, compared with a net profit...
Business
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Business
UAE consolidates its position as global hub for cross-border e-commerce
ABU DHABI, UAE -- The United Arab Emirates has consolidated its position as one of the world’s leading global and...
- Specialised international reports indicate that the UAE is among the world’s most prepared markets for digital trade.
- The UAE’s influence is not limited to its domestic market but extends to supporting the growth of e-commerce across the region
Business
Empower distributes $701 million dividends since listing
Dubai, UAE -- Emirates Central Cooling Systems Corporation PJSC (Empower) said it has distributed AED2.575 billion in dividends to shareholders...
- The company recorded AED3.419 billion revenue in 2025, while net profit rose 10.5% year-on-year to AED1.004 billion.
- In 2025, shareholders approved a dividend of AED875 million for 2025, paid in two equal instalments of AED437.5 million in April and October.
Geostrategy
Khalifa Education Award begins judging stage
Abu Dhabi, UAE — The General Secretariat of the Khalifa Award for Education, one of the institutions of the Zayed...
- This phase will be carried out through interviews conducted by specialized judging committees to review educational projects.
- The General Secretariat said the evaluation and judging phase aims to measure the actual impact of the submitted works.