ADNOC Gas to pay $3.41bn dividend
It includes $1.7 billion scheduled for distribution in Q2 2025.
Business
Thuraya, nybl sign MoU
Business
NHC, NAVER Cloud ink pact
Business
Dar Alarkan 2024 profit up 32%
The company's net profit increased by 81.5 percent in Q4 2024.
Business
Stora Enso posts loss again
Business
DEWA okays H1 dividend of $843m
Business
Aramco, ENOWA ink pact
Business
RSG, KHC set up joint venture
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Business
Goldman Sachs Q3 profit at $3bn
The bank's revenues declined 12 percent to $12 billion.
- Profits were $3.0 billion, down 44 percent from the 2021 period, while revenues declined 12 percent to $12.0 billion.
- The bank's chief executive, David Solomon, said that businesses should be "cautious" in light of increased volatility.
Business
Aramco to build fabrication yards
The yards will more than triple Saudi offshore fabrication capacity.
- The new yards are being constructed in Ras Al Khair in collaboration with National Petroleum Construction Company (NPCC) and McDermott International.
- They are expected to fabricate and assemble offshore platforms, jackets and structures for subsea pipelines.
Business
ADQ submits shareholding offer to ADA
ADQ aims to establish a diversified aviation services and MRO business.
- The combined group would have assets of approximately AED 9.4 billion ($2.6 billion) with an extensive portfolio of aircraft, MRO centers and hangars.
- Following completion, ADQ would own approximately 59 percent of the entire issued share capital of ADA.
Business
BP to buy Archaea for US$4.1bn
BP bought US firm to reach net zero emissions by 2050.
- BP, the London-listed energy major, is flush with cash after recent surges in oil prices.
- There have been calls for the cash-strapped UK government to massively enlarge a windfall tax on British energy giants.
Business
Al Seer signs JV
The agreement was signed with Damen Shipyards and DTec Industries.
- They will implement their success formulas to ventures and local partnerships to sell, build and maintain high-quality, innovative, and cost-effective marine vessels.
- The Joint Venture between the companies will combine the best maritime talent in the industry and help position the UAE as the industry centre of excellence.
Business
Bayanat AI to list shares on ADX
About 77% shareholding will be held by Group 42 Holding.
- About 77 percent shareholding will be held by Group 42 Holding Ltd. on the listing date, provided that the offering shares are fully subscribed
- Bayanat leverages its artificial intelligence and its developmental capabilities to offer differentiated geospatial AI solutions
Business
Reliable Engineering opens plant
The production unit was inaugurated at Hamriyah Free Zone in Sharjah.
- The new facility, which covers an area of more than 150,000 sq feet, caters to the needs of the oil and gas, marine, and oil and wind farming sectors.
- The production lines manufacture up to 500 metric tons of steel per month, by more than 160 employees and specialized technicians.
Business
flydubai, Smartwings sign agreement
flydubai will wet lease four Next-Generation Boeing 737-800 aircraft.
- flydubai currently operates a single-fleet type of Boeing 737 aircraft that includes 32 Next-Generation Boeing 737-800, 33 Boeing 737 MAX 8 and three Boeing 737 MAX 9.
- The all-Economy Class aircraft will operate on select routes on the flydubai network including Chattogram, Colombo, Dhaka, Karachi, Multan, Muscat and Sialkot.
Business
Mubadala buys stake in EQT Infrastructure’s GlobalConnect
GlobalConnect is a fiber-based data center services provider.
- Headquartered in Stockholm, Sweden, GlobalConnect is a fiber-based data communication and data centre services provider.
- The company was created in 2019 through the combination of four independent fiber platforms in Denmark, Norway and Sweden.
Business
VW, Horizon Robotics plan JV
JV will help in strengthening VW's presence in China.
- Volkswagen's software arm Cariad will hold a 60 percent stake in the new company, with the deal set to close in the first half of 2023.
- As part of its transition to electric vehicles, Volkswagen has long been investing in China.
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ADNOC Gas to pay $3.41bn dividend
It includes $1.7 billion scheduled for distribution in Q2 2025.
Business
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General Motors Q3 profit surge
Business
Stora Enso posts loss again
Business
DEWA okays H1 dividend of $843m
Business
Aramco, ENOWA ink pact
Business
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Business
HPDC, HDC ink agreement
The aim is to stimulate the growth of the halal industry.
- The two companies will exchange information on industry-leading practices and successful models of halal ecosystems.
- The agreement will broaden the scope of collaboration by facilitating engagement with halal exporters and investors.
Business
Masdar, Taaleri acquire 8 energy projects
The hybrid renewable energy projects in Poland have 1Gw capacity.
- Masdar and Taaleria have purchased the projects from Domrel Biuro Usług Inwestycyjnych, a prominent player in Poland's renewable energy sector.
- These projects incorporate solar photovoltaic (PV) and onshore wind technologies and are projected to power approximately 223,000 households.
Business
ENEC, Kazatomprom ink pact
The move will ensure a secure supply of nuclear fuel.
- ENEC's global partnerships will support the continued rapid decarbonisation of the country's heavy and energy-intensive industries.
- This will create further clean energy sources while using the latest technologies and helping to deliver Net Zero by 2050.