ADNOC Drilling approves $788m dividend
The final cash dividend of $394m for 2024 was approved at the AGM.
Business
JPMorgan Q3 profit at $13.2bn
Business
Delta posts Q3 profits of $1.1b
Business
Business
Gulf Navigation repays loan
The $2.7m loan was financed by "Rasmala" for a vessel.
- In a bid to reduce financing costs, the company said last August that it had refinanced five petrochemical tankers under new and preferential terms with a major Chinese lender.
- The debt has also fallen to 294 million dirhams today, compared to 433 million dirhams at the end of 2020.
Business
Pure Health to invest US$500m
It will buy stake in a US healthcare firm Ardent.
- Ardent Health Services is the fourth largest private hospital operator in the United States with operations across six states.
- Pure Health would receive board observer rights but would not have a seat on Ardent’s board of directors.
Business
Aldar acquires Spark Security
Spark Security Services employs over 5,000 security professionals.
- Aldar said the all-cash $34m acquisition strengthens its property and integrated facilities management platform to deliver a broader offering to customers.
- Spark serves major organisations operating in a wide range of sectors, including infrastructure, banking, healthcare and hospitality.
Business
Jafza records 19% trade growth
The company overcomes the global economic headwinds.
- Complementing this growth was an 18.6 percent increase in the number of new companies registered in the free zone
- More than 25 percent of the new companies registered in the free zone belonged to the retail and general trading segment
Business
Ashok Leyland bags 1,400-bus order
This is the company's biggest UAE order for school buses.
- The 55-seater Falcon bus and 32-seater Oyster bus - will be supplied from Ashok Leyland’s $50 million manufacturing facility in Ras Al Khaimah.
- Most of the supplies will be made to Emirates Transport and STS Group, a statement from the company said.
Business
Uniper seeks state aid on prices
Massive hike in the gas prices hits firm's profitability.
- The Duesseldorf-based group said it had used up the nine-billion-euro line of credit agreed in the bailout as the cost for gas soared.
- One of biggest importers of Russian gas, Uniper has been squeezed as Moscow has reduced supplies to the continent in recent months
Business
Honda, LG to invest $4.4 bn
Firms say construction of US plant to begin next year.
- Japanese auto giant Honda and South Korean battery maker LG Energy Solution announced a joint venture to invest $4.4 billion in a US electric car battery plant
- The move comes after California last week ruled that all new cars sold in America's most populous state must be zero-emission from 2035
Business
NBK Bahrain H1 net profit $145m
The profit in the same period last year was $159m
- As of end of June 2022, NBK-Bahrain’s total assets stood at BHD 7.05 billion compared with BHD 7.13 billion for the same period in 2021.
- customer deposits increased by 68 percent y-o-y to BHD 3.080 billion compared with BHD 1.829 billion for the same period of previous year.
Business
Bahri, stc sign logistics deal
Customs clearance assistance is part of the agreement.
- The stc group has operations in Saudi Arabia, Kuwait, Bahrain, and Oman.
- The contract was signed by Soror Basalom, President of Bahri Logistics and Ali Alhudhayf, Acting VP of Human Resources and Logistics Support at channels by stc.
Business
Palms Sports wins its biggest contract
The 30-month UAE government contract is worth $83.31m.
- Under the new contract it will provide 350 expert Jiu-Jitsu and close combat instructors in locations across all seven emirates.
- Palms Sports reported the first half profit of AED47.2 million, a 37 percent increase for the same period last year.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
ADNOC Drilling approves $788m dividend
The final cash dividend of $394m for 2024 was approved at the AGM.
Business
Company News
Latest News
Sipchem 9M net profit down 67%
Business
JPMorgan Q3 profit at $13.2bn
Business
JABEEN signs contracts with Retal, Abyatna
The firms will build primary and secondary infrastructure works.
Business
Most Read
Business
Naufar partners with MEEZA
MEEZA is a Managed IT Service and Solutions provider in Qatar.
- Naufar aims to overhaul its IT infrastructure by leveraging MEEZA's expertise to migrate to the secure and innovative Azure cloud platform
- The move is poised to enhance operational efficiency, reinforce data security measures, and elevate patient care services through cutting-edge Microsoft Azure capabilities
Business
EDGE signs MoU with MBRSC
The pact sets up a framework for knowledge, data sharing
- The agreement exemplifies the strength of local partnerships in the UAE.
- It underlines EDGE's commitment to expand its expertise into the space sector.
Business
Solutions+, EIH sign MoU
The pact will help in creating job opportunities in the UAE.
- The pact outlines a strategic cooperation that contributes to supporting and developing closer ties between the two companies.
- The agreement will help improve efficiency in Business Process Outsourcing, Digital Management and Facility Management.