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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.

Al Arabia subsidiary wins Dubai contract

The contract was awarded by Dubai Roads and Transport Authority.

Business

Delta reports profit jump

Its revenue jumped to $14.2 billion for the quarter.

Business

Jordan bank plans acquisition

Central Bank will acquire the Societe Generale Bank Jordan.
  • The acquisition is said to be part of a drive to expand the Central Bank's foothold regionally and domestically
  • Its chairman Bassem Al Salem said the bank would also issue $100 million in perpetual bonds to help drive growth
Business

Evergrande vows to deliver homes

The Chinese real-estate firm has $300 billion in liabilities.
  • In recent months, Evergrande has repeatedly said it will finish its unfinished projects and deliver them to buyers
  • This, despite the company having missed a payment of more than $1.2 billion earlier this month

Grankraft to invest in Hamriyah

Grankraft has leased 323,000 sq ft of land in the free zone.
  • The MoU was signed by Hamriyah Free Zone Authority Director Saud Salim Al Mazrouei and Grankraft Director J George
  • George said his company was always looking for new ways to develop its services and build landmarks
Business

McDonald’s Japan rations fries

It will sell only small-sized French fries for a week.
  • McDonald’s said it is limiting fries’ sale in Japan to ensure that customers can still order them
  • This, even though the ‘stable procurement of resource materials’ is proving difficult
Business

Russia fines Google, Meta

The regulator said Google, Meta had "ignored multiple demands”
  • Moscow has repeatedly taken legal action against them for allegedly not moderating their content properly and interfering in the country's affairs
  • But so far fines on Facebook parent company Meta and Google have stretched into the tens of millions of rubles, not billions
Business

ADQ taps Etihad for services

The terms of the transaction were not disclosed.
  • As part of the transaction, several of Etihad airline-support businesses will become part of a new ADQ aviation firm
  • The move is expected to support the ongoing transformation of Etihad and the growth of civil aviation in Abu Dhabi
Business

Mubadala, G42 plan campus

The biopharma campus is expected to be set up in Abu Dhabi.
  • The biopharma campus is expected to tap into global vaccine and therapeutic products to strengthen regional supply chains
  • It is also expected to drive the UAE’s diversification and economic-growth agenda
Business

IHC acquires stake in Al Qudra

The acquisition is part of Al Qudra's diversification strategy.
  • Al Qudra Holding, founded in 2005, has a large portfolio of customers including Manarah Bay, a multi-usage project covering about 52,000 square meters in Abu Dhabi.
  • The frim operates as an investment holding company and focuses its investments and strategic partnerships in sectors such as oil and gas.
Business

Rossi appointed Acer Mideast VP

Michele Montecchio was appointed as Country Manager for the Middle East.
  • Paul Collins, after driving the Acer Middle East and Africa business for seven years, has decided to retire.
  • Rossi has been with the firm since 2007, having started in product development.
Business

Omantel pushes for 5G adoption

The Oman-origin telecom firm has signed a deal with Optiva for this.
  • Omantel’s agreement with Optiva will upgrade the latter’s Charging Engine to a cloud-native architecture on the former’s private cloud
  • The upgrade is expected to support new business models for 5G monetization

Al Arabia subsidiary wins Dubai contract

The contract was awarded by Dubai Roads and Transport Authority.
Business

Company News

SABIC 2022 profit down 28%

Bayer 2022 profits $4.3 billion

SABIC Agri profit $2.7 bn

Ericsson to cut 8,500 jobs

Eni posts record profit in 2022

Latest News

Sukoon Insurance sets up OIWSS

Aim is administration of Employee Money Purchase schemes.
Business

DEWA files patent for energy liquid

The liquid enhances efficiency of energy storage systems.
Business

SAB sees $26m negotiated deal

The deal does not directly impact the last deal price.
Business

Most Read

Business

BAE to acquire Ball Aerospace

The value of the acquisition was reported to be $5.55bn.
  • The British firm BAE said it hoped to complete the acquisition of the aerospace firm in the first half of 2024.
  • The proposed deal will be funded by a combination of new external debt and existing cash resources, it added.
Business

DP World H1 EBITDA $2.6bn

The company's revenue grew 13.9 percent to $9.03 billion.
  • CEO Sultan Ahmed bin Sulayem said the company's balance sheet remains robust, and it continues to generate high levels of cash flow.
  • DP World's focus on high-margin cargo, end-to-end bespoke supply chain solutions and cost optimization has been crucial in securing these results.
Business

Tencent Q2 net income $3.6 bn

Tencent last year posted its first decline in quarterly sales since its listing.
  • Tencent also announced an 11 percent increase in revenue during the second quarter, reaching 149.21 billion yuan ($20.46 billion).
  • The Shenzhen-based firm is the world's largest video game company in terms of revenue, dominating the Asian market in particular.