Mubadala lists dollar, dirham bonds
This is Mubadala's seventh listing of a green debt instrument on ADX.
Business
Foxconn Q1 profit dips 56%
Business
e&, Vodafone form relationship
Business
Nissan 2022 profit $1.6bn
Business
Business
Evorra secures pre-seed investment
Investors include Area Tech Holdings and FirstPartyCapital.
- The funds will be used to finalize Evorra's B2B SaaS audience marketplace.
- Evorra offers a solution to the death of third-party cookies so that brands can be custodians of their customer’s marketing data.
Business
ACWA Power listed on Saudi bourse
ACWA Power shares can be traded on Tadawul from Monday.
- ACWA Power will be allowed a daily price fluctuation limit of 30 percent and a static price fluctuation limit of 10 percent both ways
- After three days, the daily price fluctuation limit of 30 percent will come down to 10 percent, while the static price fluctuation limit will not apply
Business
Fedex arm plans Saudi growth
FedEx Express is a subsidiary of FedEx Corp.
- FedEx Express will invest more than SAR1.5 billion ($400 million) into the Saudi economy over the next 10 years
- This investment will be through talent management as well as local operations and infrastructure
Business
Samsung Q3 profit to soar 30%
The company expects its operating profits at 15.8 trillion
- The world's biggest smartphone maker said it expected its operating profits to reach around 15.8 trillion won ($13.3 billion) in a regulatory filing, up 27.9 percent year-on-year
- The conglomerate's overall turnover is equivalent to a fifth of the country's gross domestic product
Business
Utico lands Hassyan project deal
The MoU was signed at the WETEX and Dubai Solar Show.
- Utico and Siemens have signed an MoU for the engineering, supply, and services for an independent water project in Hassyan
- By capacity, this will be Siemens’ largest desalination plant project to date in Dubai
Business
Investcorp expands US holdings
Mubadala is biggest shareholder of asset manager Investcorp.
- Bahrain-based Investcorp has acquired 89 industrial properties across four major US markets
- The real estate acquired is approximately 2.2 million square feet, for a total of $380 million
Business
Arkan-Emirates Steel merger complete
The merger creates the UAE’s largest steel and building material company.
- The transaction provides significant revenue diversification for the Combined Group
- Arkan issued to Senaat a convertible instrument, which converted into 5.1 billion ordinary Arkan shares
Business
Apicorp green bonds fetch $750m
Apicorp is a multilateral development financial institution.
- The five-year benchmark issuance was the first green bond in the Mena region issued by an energy-focused investment institution
- It was nearly three times oversubscribed, garnering $2.2 billion in orders from more than 80 investors
Geostrategy
Google lets users factor climate change into life
New features unveiled on Wednesday provide users with ways to help in the effort, whether it be driving routes that...
- Artificial Intelligence used in Google's free Maps service in the US shows people fuel-efficient routes.
- CO2 emission information is being added to a flights service for booking travel by air.
Business
Fertiglobe plans IPO in Abu Dhabi
Fertiglobe is a fertilizer partnership of Adnoc and OCI.
- This offering is open to UAE citizens and residents, as well as domestic and international institutional investors
- The offer will open on October 13, subject to regulatory approvals and other relevant considerations
Mubadala lists dollar, dirham bonds
This is Mubadala's seventh listing of a green debt instrument on ADX.
Business
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Aramex Q1 net profit down 49%
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Foxconn Q1 profit dips 56%
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e&, Vodafone form relationship
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Adidas posts $92m Q2 profit
Adidas now expects to end the year with an operating loss of $492m.
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EIH buys stake in Gewan Holding
Acquisition aims to diversify and expand into several sectors.
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Business
SABIC H1 net profit slumps 87%
The second quarter net profit fell 85 percent on weaker demand.
- Year to date, SABIC's share in the results of non-integral joint ventures and associated companies decreased versus prior year.
- Compared to Q1 2023, net profit climbed 78.8 percent from SAR 660 million, due to the re-measurement gains in option rights related to joint venture agreements.
Business
DAE H1 profit up 13%
The company posted a 15% increase in revenue to $670 million.
- The company acquired seven aircraft (two owned and five managed), while 16 aircraft were sold (10 owned and six managed), it added.
- A total of 64 lease agreements, extensions and amendments were signed -- 48 owned and 16 managed -- while its customers were spread across 60 countries.
Business
Mubadala invests in Aligned
Mubadala will become a minority partner with this investment.
- Aligned offers both Scale Data Centers (colocation) and Build-to-Scale (build-to-suit) solutions to support global hyperscale and enterprise customers.
- The investment is part of Mubadala’s expanding global digital infrastructure portfolio headed by its Executive Director, Mounir Barakat.