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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.

Mammoet, Aertssen sign agreement

The two firms will provide heavy-lifting solutions in Qatar.

Business

Tawazun Council acquires TASNEEF

Subsidiaries of TASNEEF were also acquired.

Economy
Business

Nestle sells €8.9bn L’Oreal shares

Around 22.26 million shares were sold for €400 each.
  • L'Oreal said in a statement it would cancel the shares, which represent 4 percent of its capital
  • The French group's shareholders will see their shareholdings increase due to the buyback, L'Oreal said
Business

Aramco lands $15.5bn Blackrock deal

The deal creates the Aramco Gas Pipelines Company.
  • The subsidiary Aramco Gas Pipelines Company will lease usage rights in Aramco’s gas pipelines and lease them back to Aramco for 20 years
  • In return, it will receive a tariff payable by Aramco for the gas products that will flow through the network
Business

Instagram tightens teen defenses

The app will be stricter about what it recommends to teen users.
  • The app will be stricter about what it recommends to teen users and will suggest a break if they have been spending a lot of time on the platform
  • The app is also to start "nudging" teens toward new topics if there is one they have been dwelling on for a while
Business

Rohingya sue FB for $150bn

The complaint says Facebook's algorithms target susceptible users.
  • Facebook has been sued by Rohingyas over allegations that it promotes disinformation and extremist thought against Muslims in Myanmar
  • According whistleblower Frances Haugen statement, Facebook is "fanning ethnic violence" in some countries.
Business

Evergrande to restructure debt

It also formed a risk committee before upcoming payment deadlines.
  • The company's struggles to meet its commitments have fanned concerns about China's property sector
  • The sector forms a substantial part of the world's second-biggest economy
Business

ENOC plans Dubai compact stations

The first compact station opened at Dragon Mart 2 this month.
  • After Dragon Mart and International City, the ENOC Group plans to open five more compact stations in Dubai
  • The remaining seven expected to be launched across additional locations by 2023
Business

Borouge awards EPC contracts

The $6.2 bn contracts are meant for expansion in Ruwais
  • With this expansion, Borouge said it will become the world’s largest single-site polyolefin complex.
  • Borouge 4 will boost the company’s annual polyolefin production to 6.4 million tons.
Business

Multiply Group starts trading on ADX

The IHC subsidiary starts trading under the ticker MULTIPLY.
  • Multiply Group will become the eighth IHC subsidiary to list on the ADX in less than a year.
  • The group has assets of AED8.16 billion ($2.2 billion) and 3,240 employees.
Business

BNET gets new CEO

Al Khalifa is an Engineer with 14 years of experience
  • Sheikh Ebrahim Al Khalifa is an Engineer with over 14 years of experience in information systems, customer care systems, business processes, and consultancy
  • BNET is the Kingdom of Bahrain’s national broadband network responsible for the design, construction and operation of Fiber infrastructure.
Business

Twitter admits policy ‘errors’

Extremists are abusing its new photo-sharing rule.
  • Twitter has noted that its teams have made errors in enforcing its new policy that disallows posting images of people without their consent
  • It said it has corrected those, errors and is undergoing an internal review to make certain that this policy is used as intended

Mammoet, Aertssen sign agreement

The two firms will provide heavy-lifting solutions in Qatar.
Business

Company News

Centrica 2022 profit US$4bn  

Renault boosts profitability

Airbus earns record net profit

NBQ 2022 net profit $99m

ADNIC 2022  profit is $103mn

Latest News

4.4m travel by SAR in H1 2023

Train trips in H1 2023 rose 46 percent compared to H1 2022.
Business

Yalla Group H1 revenue $152m

The Group posted revenues of $79 million in the second quarter.
Business

KIB posts $19.5m net profit

The bank's total operating income reached approximately $115 million.
Business

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Business

Estithmar opens branches in Iraq

Two subsidiaries of the Qatari firm open two branches.
  • Elegancia Healthcare, established a branch in Iraq in line with the memorandum of understanding that was signed recently to manage and operate several soon-to-be-opened hospitals.
  • Estithmar Holding told Qatar News Agency that it signed agreements with the Iraqi investment authority worth $7 billion that includes real-estate and tourism development.
Business

AD Ports Q2 revenue grows 66%

The company attributed growth to increased volume across key sectors.
  • On a like-for-like basis (LFL), which excludes the impact of M&A activity, the revenue growth was still significant, reaching 44 percent YoY
  • The growth drivers were primarily the Maritime Cluster with a substantial 208 percent YoY increase, followed by the Digital Cluster with 26 percent
Business

Ma’aden, BADC ink agreement

Firm to supply 600,000 tons of fertilizers to BADC.
  • The renewal is further proof of the company’s commitment to meet global market demand for phosphate fertilizers.
  • Ma’aden supplies approximately 42 percent of Bangladesh’s estimated requirement of diammonium phosphate.