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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.

GSK to buy Aiolos Bio

The focus is on an asthma medication still at the testing stage.

Business

Baims acquires Orcas Edtech

The firm plans to incorporate one-to-one tutoring services.

Business
Business

Google debuts new Pixel

Smartphone sales are dominated by Apple, Samsung
  • Smartphone sales are dominated by Apple and Samsung
  • Google touted the phones as completely "reimagined" during a presentation
Business

Zoomcar enters Egypt market

Zoomcar targets 5,000 cars in Egypt by March 2022.
  • Zoomcar to launch their functioning in Egypt
  • The target of Zoomcar is to have 20,000 cars in market by 2022 end
Business

Mobily signs recycling deal

Mobily will recycle old and discarded Ericsson devices.
  • Mobily is now expected to join the Ericsson Product Take-Back Program to recycle discarded electronic devices
  • The program is responsible for the disposal and recycling of electrical equipment at the end-of-life stage
Business

Marjan lands $272m RAK project

Dubai Investments and Marjan have tied up for the project.
  • The project’s design is reportedly set to offer a private enclave with waterfront views
  • It is targeted at social gatherings, family unions, business meetings, or personal relaxation
Business

Toyota makes US battery push

Japanese firm Toyota is the world’s biggest carmaker.
  • Toyota has unveiled plans to invest $3.4 billion into automotive batteries in the United States
  • As part of the plan, it will build a factory in the country for production of such batteries
Business

Sabic leads low-carbon plan

Sabic, WEF, and global companies will formalize the plan.
  • The agreement will look to formalize the low-carbon emitting technologies or LCET initiative into a standalone entity by 2023
  • As a result, LCET members will share early-stage risks and co-invest in developing and upscaling low-emission technologies
Business

Al Dahra opens five animal feed plants

The plants are located in Serbia, Romania and Bulgaria.
  • The new plants have a capacity of 500,000 tonnes per annum of clover and more than 15 types of feed and concentrated grains.
  • The firm recently added some 11,000 hectares of clover to its existing plants in Romania.
Business

SODIC lands $100m loan

This will finance SODIC’s West Cairo flagship project.
  • The Arab African International Bank and Banque Misr is providing this facility to SODIC
  • SODIC is expected to use this facility to finance its West Cairo flagship development known as SODIC West
Business

AD Ports H1 revenue up 21%

Diversification, new leases, and partnerships fueled the rise.
  • AD Ports Group revenue increase 21 percent year-on-year to AED1,832 million ($499 million) in H1 2021
  • This was in contrast with its H1 2020 revenue of AED1,517 million ($413 million)
Business

Samsung AI course for UAE youth

The students will learn data science, probability, statistics, linear algebra, python
  • The course will enable participants to learn AI modeling on a solid foundation of mathematics while developing a fluid understanding of AI projects
  • The curriculum will also allow participants to experience ML tools and real-world problem solving with various exercises and practical projects

GSK to buy Aiolos Bio

The focus is on an asthma medication still at the testing stage.
Business

Company News

QInvest exends book building period for MEEZA IPO

Masraf Al Rayan’s 2022 profit dips by 22%

Boubyan Bank 2022 net profit $189m

Flybe stops trading, cancels flights

UAE banks’ saving deposits rise to $67bn

Latest News

Dubai Investments net rises to $157m

Real estate sector remains one of the key business verticals.
Business

ADNOC Gas H1 revenue $10.6bn

The decline in revenue is due to lower gas prices.
Business

Empower H1 2023 revenue at $333m

The company’s EBITDA in H1 2023 was US$178 million.
Business

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Business

ADNOC Drilling posts $446m net profit

The increase was attributed to expansion in fleet and services.
  • ADNOC Drilling’s first half revenue increased to $1.4 billion, up 13 percent year-on-year.
  • Second quarter revenue grew by 8 percent year-on-year to $724 million and by percent sequentially.
Business

ADNOC to acquire stake in Absheron field

TotalEnergies and SOCAR will hold 35% stake each in the field.
  • Entering into a strategic partnership with SOCAR also elevates ADNOC’s long-standing partnership with TotalEnergies, who until now had held a 50% share alongside SOCAR in Absheron.
  • The partnership will enable ADNOC to build a major footprint in a region with prolific natural resources and significant growth potential.
Business

Adidas posts $92m Q2 profit

Adidas now expects to end the year with an operating loss of $492m.
  • The German sportswear giant reported a net profit of 84 million euros ($92 million) from April to June.
  • Adidas shares were up 1.4 percent on the Frankfurt Stock Exchange after the results were released.