EasyLease buys stake in United Trans
This helps EasyLease expand its presence in mobility sector.
Business
SoftBank Group Q1 loss $3bn
Business
Eshraq Q2 profit $9.79m
Business
Yahsat H1 net income up 5%
Business
Elm to list on TASI
The final offer price was set at SR128 ($34.1) per share, the top end of an indicative range.
- The listing comes amid a boom in the Saudi initial public offering market in a bid to enhance liquidity.
- Owned by the Public Investment Fund, the company had earlier raised $820 mil in proceeds from an IPO.
Business
Intel to acquire Tower Semiconductor
The acquisition for around $5.4bn part of Intel's IDM 2.0 strategy.
- As a key part of its IDM 2.0 strategy, Intel established Intel Foundry Services (IFS) in March 2021 to help meet the growing global demand.
- Tower operates a geographically complementary foundry presence with facilities in the U.S. and Asia.
Business
Engie posts €4.2bn profit
It pointed to energy prices and good asset performance for the rise.
- The firm posted a net profit of €3.7 billion ($4.2 billion) after a loss of €1.5 billion in 2020
- The emergence of the Covid-19 pandemic had roiled the global economy and energy prices
Business
Etisalat 2021 revenue up 3.2%
The consolidated revenue stood at AED53.34 billion ($14.52 billion).
- The company attributed the growth to increased demand for data connectivity and digital services
- The growth was also attributed to international operations and improvement in domestic operations
Business
Mubadala closes Brazil fund
Brazil Special Opportunities Fund I is Mubadala's first fund in Brazil.
- The fund raised capital from a diverse set of global investors, including a leading public pension fund, family offices and corporates among others.
- Mubadala Capital manages over $10 billion of assets in third-party managed funds across its Brazil, private equity, public equities and venture capital businesses.
Business
YGS awarded $247m mandate
The company will provide enhanced managed services to the UAE government.
- The agreement augments the previous operations and maintenance services provided, to include technology management support, from Jan 2022 until the end of 2026.
- Yahsat has been providing operations and maintenance services since 2011 on its first two satellites, Al Yah 1 and Al Yah 2.
Business
Apollo to invest in Aldar
Apollo-managed funds and clients will invest $1.4bn in Aldar.
- A total of $500 million would be invested into a land joint venture, $500 million are meant as perpetual Subordinated Notes issued by Aldar Investment Properties.
- Aldar said the land joint venture will allow it to realize long-term value tied up in its vast landbank while maintaining flexibility to develop or sell the land.
Business
DEWA expands fibre optic ducts
The company lays 394 kms of Fibre Optic ducts in 2021.
- The company increased the total length of these cable ducts since 2015 and until the end of last year to 3,275 kilometres
- The external FO ducts protect and direct all Fibre Optic Cables in communication, data transfer and remote operations.
Business
East Pipes to list on TASI
The offer comprised a total of 6.3 million shares.
- This came after the initial public offering of the company was 71.8 times oversubscribed, setting the final offer price at SR80 ($21.3)
- SNB Capital, as the financial advisor of the offer, led the book-building process, which started on Jan. 11 and ran through Jan. 17
Business
QLM net profit up 8 percent
The insurer reported a growth of 16 percent in underwriting income.
- The Company’s net profit for the Year 2021 is QAR 106.2 million compared to QAR 98 million in 2020, a growth of 8 percent.
- The company’s board has recommended a cash dividend of 22 percent (QAR 0.22 per share).
EasyLease buys stake in United Trans
This helps EasyLease expand its presence in mobility sector.
Business
Company News
SoftBank Group Q1 loss $3bn
Business
Eshraq Q2 profit $9.79m
Business
Yahsat H1 net income up 5%
Business
Latest News
Siemens Energy posts Q3 loss
Business
Most Read
Business
EasyLease Q3 revenue $57.66m
It's net profit was AED 26.5 million ($7.21m) in Q3 2023.
- it's net profit was AED 26.5 million ($7.21m) in Q3 2023, compared to AED 32.73 million ($8.91m) YoY over Q3 2022.
- Cost-effectiveness, exceptional maneuverability and expedited travel, are driving the popularity of two-wheelers in the UAE.
Business
MAWANI and SGP sign $266m contract
They will establish a logistics zone in King Abdulaziz
- The zone will provide major logistics services, unique solutions, integrated services, and environmental systems, including warehouses and yards.
- It will also include a warehouse and re-export area to provide sorting, regional distribution, and value-added operations.
Business
EU okays takeover of Seagen
Pfizer announced in March its deal with Seagen.
- The European Commission, the bloc's powerful anti-trust authority, said it had "unconditionally approved" the transaction after a market investigation
- The firm came to major drugmakers' attention with its work on antibody-drug conjugates that are "designed to preferentially kill cancer cells"