Boeing to sell some assets to Thoma Bravo
The $10.55 bn sale includes portions of digital aviation solutions business.
Business
Amlak Q3 net profit AED $73m
Business
Rabigh 9M net loss $879m
Business
Business
ENBD REIT announces H1 NAV
The company achieved a gross rental income of $15 million.
- The property portfolio value increased by $4.7 million from the previous quarter to $362 million
- The company achieved a gross rental income of $15 million, up 0.7 percent from the same period last year
Business
Americana UAE IPO share price is $0.75
The company is the largest quick service restaurant operator in MENA.
- Americana is the largest out-of-home dining and quick service restaurant operator in the MENA region
- The concurrent book building process generated orders of approximately AED 386 billion
Business
Nestle pours $1.8 bn in S Arabia
Firm said this will help bolster its presence in kingdom.
- Nestle's announcement is likely to be a major boost to Saudi Arabia as the kingdom pushes to attract greater foreign investment.
- Nestle will build a new factory, due to open in 2025 that will produce infant nutrition products and ready-to-drink coffee.
Business
ECI, African TIA sign pact
They will strengthen trade ties and boost exports between the two markets.
- The deal follows the MoU each entity signed in March last year to enhance the global competitiveness of exporters by improving their awareness of export credit.
- Trade between the UAE and Africa has registered steady growth in recent years, with the Emirates becoming the fourth-biggest investor in Africa last year.
Business
Lulu Group, Amazon sign agreement
They will optimize online grocery shopping for UAE customers.
- The products include everyday essentials and fresh grocery items delivered using fast-delivery options through the Amazon.ae online platform.Â
- Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development (ADDED), said that such partnerships are what Abu Dhabi and the UAE continue to push for.
Business
ADIB Securities 9M trades $5.98bn
ADIB Securities is a Shari'a-compliant brokerage firm in the UAE.
- The Abu Dhabi-based brokerage reported a 149 percent increase in its Digital Trading platform utilization compared to the same period last year.
- The growth was largely driven by a strong increase in the number of transactions routed through the company's digital channels.
Business
Lufthansa to hire 20,000 employees
Lufthansa had 108,000 employees at the end of September.
- Lufthansa made huge losses when Covid brought global air travel to a halt but a rebound in demand has helped it return to profit this year.
- In the third quarter, the airline group -- which also includes Eurowings, Austrian, Swiss and Brussels Airlines -- reported a healthy profit.
Business
Masdar Green acquires properties
The 3 Pearl rated properties in Masdar City are worth $254m.
- The acquisition follows a $200 million green loan secured from First Abu Dhabi Bank (FAB) in January to help finance the REIT’s growth.
- Masdar Green REIT was established by Masdar as an investment vehicle for professional investors to invest in a sustainable, income-generating real estate portfolio in Masdar City.
Business
Dubai Aerospace acquires Sky Fund Irish I
Sky Fund I leases aircraft to 14 airline customers.
- Next-generation technology aircraft represent more than 90 percent of the acquired portfolio.
- DAE's owned portfolio will now comprise nearly 50 percent of fuel-efficient, next-generation aircraft.
Business
ADNOC Drilling to buy 3 rigs
The company bought four rigs between May and Aug. this year.
- The three brand new high-specification offshore jack-up drilling units (rigs) will be purchased for AED1.17 billion ($320 million).
- Since listing on the Abu Dhabi Securities Exchange in October 2021, ADNOC Drilling has expanded its fleet from 95 to 108 owned rigs, as of 30th September.
Boeing to sell some assets to Thoma Bravo
The $10.55 bn sale includes portions of digital aviation solutions business.
Business
Company News
Dana Gas 9M net profit $126m
Business
Amlak Q3 net profit AED $73m
Business
Rabigh 9M net loss $879m
Business
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IHC 9M net profit $4.13bn
Business
Amanat net profit up 73%
Business
Fertiglobe Q3 revenue of $525m
Business
Deyaar, Arady Properties sign MoU
Deyaar is a leading real estate developer in Dubai.
TAQA, GS Inima and EWEC seal deal
Abu Dhabi's Shuweihat 4 desalination project secures $444 million.
Business
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Nike shares tumble after cost cuts
Nike promised up to $2 billion in cost savings Thursday.
- Shares fell heavily in after-hours trading as Chief Financia officer described the environment as "highly promotional" during a conference call with analysts
- Profits for the quarter ending November 30 jumped 19 percent to $1.6 billion, while revenues edged up one percent to $13.4 billion
Economy
Saudi EXIM Bank, DBK sign MoU
It will boost the trade between Saudi Arabia and Kazakhstan.
- Under the MoU, both banks have also agreed to exchange information, experiences, and best practices to enhance the development of services and products
- It will also facilitate collaborative research efforts and knowledge sharing to design export credit policies and practices and provide workforce training opportunities
Business
Warner Brothers Discovery explores merger
Warner Brothers Discovery brands include CNN and HBO.
- Warner Brothers Discovery chief executive David Zaslav met with Paramount Global boss Bob Bakish for several hours to discuss the possibility of merging the companies
- Warner Brothers Discovery brands include CNN, HBO, and its eponymous film studios, while Paramount’s properties include its movie studios of the same name