UAB net profit up by 50% for H1
Business
ADNOC shifts OMV stake to XRG
Business
SIB H1 net profit $189m
Business
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.
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
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.
Business
Maaden raises $1.25bn in sukuk offering
The Sukuk were offered in a five-year and a 10-year tranche.
- The five-year tranche of $750 million consists of 3,750 Sukuk based on the minimum denomination and total issue size.
- Maaden said the annual return on the five-year tranche is 5.25 percent and 5.50 percent for the 10-year tranche.
Business
DAE net profit up 36.2%
Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.
- Total assets reached more than US$13 billion by the end of 2024 compared to US$12.26 billion in 2023.
- DAE said it acquired 83 aircraft (owned: 30; managed: 53) and sold 68 (owned: 19; managed: 49).
Business
Borouge 2024 net profit $1.24bn
The company said it will maintain a $1.3bn dividend for 2025.
- EBITDA climbed 14 percent year-on-year to $2.48 billion, driven by a 4 percent year-on-year revenue increase to $6 billion.
- Sales volumes reached their highest-ever level of 5.3 million tonnes, supported by strategic positioning in high-growth markets across Asia, the Middle East and Africa.
Business
ADQ, Orion to establish JV
The partners commit to deploying $1.2bn in the next four years.
- The JV will make strategic investments in the metals and mining sector to enhance supply chain security locally and globally.
- The joint venture will invest in a diverse range of metals and minerals in various geographies, focusing initially on emerging markets in Africa, Asia and Latin America.
Business
Alpha Dhabi acquires interest in NCTH
The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.
- It acquired the 73.73% controlling interest after selling assets from Alpha Dhabi Hospitality Holding and Murban Energy Limited to NCTH in exchange for shares.
- The deal Alpha Dhabi Holding’s investment in the domestic and international luxury hospitality sector and involves the transfer of four key hotel assets.
Business
Samsung says planning job cuts
The layoffs could affect about 10 percent of the workforce.
- The world's largest memory chipmaker is modifying staffing levels in Southeast Asia, Australia, and New Zealand, a company spokesman told AFP
- The "routine workforce adjustments" are carried out "to improve operational efficiency," said Samsung Electronics in a statement
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Emirates NBD H1 profit $3.40bn
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ADIB H1 pre-tax profit $1.08bn
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UAB net profit up by 50% for H1
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Eni profit falls due to dip in oil prices
Q2 net profit fell by 18% to $637 million.
- Revenues also declined in the second quarter by 14 percent year-on-year to 18.8 billion euros, the company said in a statement.
- The oil giant also confirmed its production target of 1.7 million barrels of oil a day for the current year, despite a three percent decline in the second quarter.
Business
Emirates NBD H1 profit $3.40bn
Total income rose by 12 percent in the same period.
- Lending increased by AED41 billion, or 8 percent, during the first half of 2025, fueled by very strong demand both in the UAE and across its growing international network.
- Operating profit grew 9 percent as the strong loan and deposit growth momentum easily absorbed earlier interest rate cuts.
Business
ADIB H1 pre-tax profit $1.08bn
Q2 pre-tax net profit increases by 14 percent.
- Total income for H1 2025 rose 11 percent to AED5.9 billion, up from AED5.3 billion in H1 2024.
- Non-funding income rose 15 percent year-on-year to AED2.3 billion in H1 2025, up from AED2 billion in the prior-year period.