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Company News

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Empower okays $119.1m H2 2025 dividend

The dividend is equivalent to 43.75% of paid-up capital.

Alujain widens 2025 loss

The increase in loss is due to impairment charges, weaker prices.

Masar 2025 net profit $262m

Higher land plot sales boost revenue and operating income.

Tasnee’s 2025 losses deepen

The petrochemicals' company's revenue also fell 17.7 percent.

EDGE, Baykar collaborate

EDGE smart weapons will be integrated into Bayraktar UAVs.

Business

CBI 2023 net profit at $46.5m

The 2023 annual net profit rose 14 percent from 2022.

Business
Business

Microsoft to buy Activision Blizzard

The $69-billion deal is the largest acquisition in the gaming world.
  • The deal will make Microsoft the third-largest gaming company by revenue, behind Tencent and Sony
  • This will be the largest acquisition in the industry, far ahead of Take-Two's $12.7-billion purchase of Zynga
Business

Emaar EC inks $16m contract

Emaar EC signed the $16-million contract with SAFE.
  • As part of the contract, SAFE will provide security services at the King Abdullah Economic City
  • It has a duration of five years from the date of signing, which happened on Monday, January 17
Business

Arada enters Dubai market

Full details will be revealed at the sales launch, scheduled to take place in the third quarter of 2022.
  • Design work on Arada’s mixed-use project on Palm Jumeirah has begun and will contain residential, leisure and F&B components
  • Arada’s projects include Aljada, Sharjah’s largest ever mixed-use megaproject where 5,000 units are currently under construction
Business

TAQA Group, EWEC price green bond

The bonds were 1.8 times oversubscribed.
  • The bonds, one of TAQA’s first forays into green financing, will refinance existing debt facilities of SPPC.
  • TAQA is one of the largest listed integrated utility companies in the Europe, the Middle East and Africa.
Business

HP, UAE sign education MoU

MoU aimed at enhancing cyber skills training in UAE schools.
  • HP and the Cyber Security Council will launch various initiatives nationwide and expect to work with more than 500 students a year.
  • The partnership with the Cyber Security Council has three separate elements that support schoolchildren, university students, and graduates.
Business

FB ad policy irks Iraq NGO

Facebook has been mired in global controversies for its ad policies.
  • The most prominent Facebook ads controversy was when Cambridge Analytica targeted political ads at users after collecting their data without consent
  • The results were advertisement that led to Donald Trump winning the US presidential election, and Britain voting to exit the EU
Business

Securrency Capital picks advisor

Ryan Lemand has joined the brokerage as a board advisor.
  • Lemand holds a PhD in financial econometrics, and is the author of two books on financial contagion
  • Securrency Capital is a blockchain-enabled brokerage providing access to trading in traditional and digital assets
Business

Google buys $1bn London office

It is buying the Central St Giles office site, where it is a tenant.
  • Google, however, stressed it remained committed to new hybrid working patterns in the wake of Covid-19
  • It said it would give the site a multi-million-pound overhaul for flexible working patterns, including outdoor work spaces
Business

Citi to sell SE Asian biz for $3.6 bn

Singapore's United Overseas Bank will buy the franchises
  • The total price of the Singapore's United Overseas Bank acquisition is Sg$4.9 billion ($3.6 billion).
  • As part of the deal, around 5,000 Citi employees are expected to transfer to UOB, the lenders said.
Business

Moody’s ranks QIIB ‘stable’

It has also has assigned the Qatari bank an A2 rating.
  • Moody's said the rating reflects the bank’s position as one of Qatar's leading Islamic financial institutions
  • It added that the financial institution has solid asset quality, profitability, liquidity, and capitalization

EDGE, Baykar collaborate

EDGE smart weapons will be integrated into Bayraktar UAVs.
Business

Company News

VW to cut e-car prices

Credit Suisse delays yearly report

CVC to invest in WTA

Ducab 2022 revenues up 19%

Lego to gain market share

Latest News

AviLease acquires aircraft leasing platform

The $3.6bn deal will see AviLease acquire a portfolio of 100 aircraft.
Business

SAMI launches radio systems line

PIF-owned SAMI will be partnering with the Ministry of Defense.
Business

NIDC drills 195 oil wells in 2 years

Wells were drilled in onshore, offshore operations.
Business

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Business

Evergrande posts H1 loss

Firm said it has $556 million remaining in cash assets.
  • The developer's January-June losses amounted to 33 billion yuan ($4.53 billion), compared to 66.4 billion yuan lost in the same period last year.
  • Its statement on Sunday estimated its liabilities now stood at almost $328 billion, down from nearly $340 billion at the end of 2022.
Business

stc Group begins work in Europe

stc’s subsidiary TAWAL buys assets in eastern Europe.
  • TAWAL aims to ensure a reliable and efficient ICT infrastructure network to all mobile networks operators in the market.
  • TAWAL aims to bring significant investments, best processes and practices, as well as innovative products to its portfolio.
Business

Bing, LinkedIn vow more ads transparency

It comes as EU rules on tech platforms enter into force.
  • Internet giants must now enforce the milestone EU's Digital Services Act (DSA), which demands they protect users online from harmful content.
  • Microsoft-owned LinkedIn said in a blog post they had implemented this change for the desktop and mobile version of the network.