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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.

Tawazun Council acquires TASNEEF

Subsidiaries of TASNEEF were also acquired.

Economy

EVA Air orders 33 Airbus planes

The deal could be worth as much as $8.5 billion.

Business
Business

Al Sadd releases Xavi

The Spanish legend may now return to Barcelona.
  • Xavi has so far led Al Sadd to the 20-2021 QNB Starts League title, and the 2020 and 2021 HH the Amir Cup titles
  • He has also coached the team to win the 2020-2021 Qatar Cup title, and the 2019 Qatar Super Cup
Business

Saudi bank inks $100m deal

The agreements are aimed at bolstering Saudi exports.
  • The Saudi Export-Import Bank has signed reinsurance agreements worth over $101 million (about SAR 380 million)
  • It signed the deals with the Arab Investment and Export Credit Guarantee Corporation or Dhaman
Business

Dubai Investments net profit $123m

The firm will focus on the real estate market, its CEO said.
  • Total Income also increased to AED 2.6 billion from AED 1.9 billion for the first nine months of the year.
  • The Group recently announced its new venture in the emirate of Ras Al Khaimah.
Business

Al Seer Marine net profit $666m

The net profit for the first nine months of 2020 was AED 25.40m.
  • The increase in net profit was driven by a rise in income from investments and recent acquisitions.
  • The company has acquired Very Large Gas Carriers for transport of LPG through its partnership with BGN International.
Business

Empower to buy DXB assets

The deal is valued at AED1.1 billion ($300 million).
  • A mega project has been signed by cooling services provider Empower for $300 million
  • As a result, Empower will own all of Dubai’s international Airport’s existing cooling assets
Business

DFM to list 10 new firms

Dubai aims to increase its market volume to AED3trn.
  • The Dubai Financial Market has listed 10 government and state-owned companies
  • The announcements came during the first meeting of the Securities and Exchange Higher Committee
Business

Emirates set for Boeing talks: CEO

The talks will be held over the delayed 777Xs 'before and during' Dubai Air Show.
  • The airline has repeatedly complained about the delivery of the long-haul jet, whose launch has been set back by a series of safety and technical problems.
  • Emirates announced an order of 150 777Xs at the 2013 Dubai Air Show and later revised the deal.
Business

Brazil’s InvestSP joins Global Logistics Passport initiative

InvestSP Corporation and the Global Logistics Passport initiative have signed a Memorandum of Understanding or MoU for better shipping and...
  • Members of the Global Logistics Passport Initiative can expect an annual increase in trade of 5-10 percent
  • As merchants benefit from more efficient commodity movements, new trade routes are expected to be opened
Business

Etisalat Q3 revenue up 2%

The aggregate subscriber base increases by 4 percent YoY.
  • Net profit amounts to AED 2.4 billion, an increase of 1 percent compared to the same period last year.
  • The company said that in the UAE, its subscriber base reached 12 million.
Business

Etisalat Q3 revenues rise 2%

Its consolidated revenues in Q3 reached AED13.3bn ($3.62bn).
  • Consolidated net profit after Federal Royalty amounted to AED2.4 billion ($653.5 million), an increase of 1 percent
  • Consolidated EBITDA amounted to AED 6.7 billion ($1.82 billion), resulting in an EBITDA margin of 51 percent

Tawazun Council acquires TASNEEF

Subsidiaries of TASNEEF were also acquired.
Economy

Company News

Equinor posts record profit

Dana Gas 2022 net profit $182m

Etihad Cargo, Astral sign MoU

BP posts loss on Russia exit

Doha Bank, Qatar Cinema profits rise

Latest News

NPCC receives award for MERAM project

The award has been received from ADCNOC Gas.
Business

Huawei H1 revenue at US$43.3bn

The firm works to diversify its business operations.
Business

ADNIC net profit $55.64m

The company's insurance revenue reached $582 million.
Business

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Business

QAMCO’s H1 net declines 60.7%

Average selling prices stood at US$2,743 per metric ton.
  • Earnings Per Share for QAMCO stands at US$0.0118 as of 30th June 2023, compared to US$0.0302 in 2022.
  • Decline in profits is attributed to a 24% drop in average selling prices and a slight decrease in sales volumes
Business

Alibaba quarterly revenue up 14 percent

Alibaba's revenue amounted to 234.1 billion yuan ($32.5 billion).
  • Alibaba's net profit was up 51 percent on-year, reaching 34.3 billion yuan ($4.76bn) during the April-June period
  • Alibaba is a key player in China's expansive digital economy and the operator of a major online shopping platform
Business

SoftBank Group Q1 loss $3bn

The investment giant was hit by a drop in the share prices of major holdings.
  • The firm has made huge bets to find and grow hot new tech ventures around the world, but that has left its earnings vulnerable to market forces.
  • The company suffered investment losses "due to declines in the share prices of Alibaba, Deutsche Telekom, and T-Mobile US.