Foxconn Q1 profit dips 56%
Business
e&, Vodafone form relationship
Business
Avalon sets sights on Tadawul listing
The firm will offer 6 million shares in its Initial Public Offering.
Business
stc Q1 revenue $4.84 billion
Business
Savola Group net profit up 45%
Business
Burjeel Holdings Q1 profit $33m
Business
Carrefour now opens in Israel
Business
Business
Outdoor ad firm Al Arabiya announces IPO
The company expects to sell 30 percent of its shares in the offering.
- The IPO is expected from Oct. 22 to Oct. 26 and a book-building process will determine offer price per share.
- In June, the Capital Market Authority had approved the company's request for the IPO.
Business
ADQ to buy stake in IHC subsidiary
Abu Dhabi-based firm will acquire Eltizam Asset Management for AED111.6 million.
- IHC has entered into a strategic partnership with ADQ to sell a 50% stake in its subsidiary
- Eltizam offers an integrated suite of strategic management and real estate services
Business
Creative Zone expands into Qatar
The CZ is one of the top firms in the United Arab Emirates.
- The CZ is one of the top firms in the United Arab Emirates
- Hyundai, LG are among some of its clients
Business
Galaxy Racer eyes Pakistan market
The UAE-based Esports company has over 400 million subscribers.
- The Esports company has over 400 million subscribers worldwide
- The company is aiming for a Nasdaq listing in the next three years
Business
Anaam land sale nets $22.6m
The transaction will be reflected on Anaam’s Q3 financial results.
- The deal has been inked with the buyer Khaled Mustafa Mohamed Monem
- It includes the sale of all equipment, machinery, buildings, and cars
Business
EDB to push Ajman growth
The EDB-Ajman MoU is in line with the Make it in the Emirates Campaign.
- Under the terms of the agreement, EDB will support SMEs registered at Ajman Free Zone, in line with its applicable policies and procedures
- In addition, the companies operating in the free zone will be given access to the bank’s key programs, financing solutions, and other facilities
Business
ABHGA readies $13bn investment
This agreement can be considered the start for several projects.
- This agreement aims at increasing the level of cooperation between the public and private sectors to achieve the objectives of Vision 2030
- The areas of cooperation between ABHGA and NIDLP, subject to this agreement, includes establishing a joint framework
Business
Netflix buys first video game studio
The company has bought the California-based Night School Studio
- The company has bought the California-based Night School Studio
- Netflix had indicated its intention to venture into video games in July
Science
Amazon robot that can patrol homes
The tech giant cheered the "Astro" robot as a breakthrough for security
- The tech giant cheered the "Astro" robot as a breakthrough for security
- But digital watchdogs raised concerns for potential risks to people's most private moments
Business
United Airlines fires 593 workers
The employees refused to comply with a requirement to be vaccinated for Covid-19.
- The employees refused to comply with a requirement to be vaccinated for Covid-19
- Another 2,000 employees have also requested a medical or religious exemption to the vaccine requirement
Company News
Aramex Q1 net profit down 49%
Business
Foxconn Q1 profit dips 56%
Business
e&, Vodafone form relationship
Business
Latest News
Nissan 2022 profit $1.6bn
Business
stc Q1 revenue $4.84 billion
Business
Savola Group net profit up 45%
Business
Burjeel Holdings Q1 profit $33m
Business
SABIC H1 net profit slumps 87%
The second quarter net profit fell 85 percent on weaker demand.
Business
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Business
Arabian Drilling H1 profit up 36%
The company has approved a cash dividend of SAR225 million.
- In a Tadawul disclosure, the company said that is second-quarter net profit climbed 22.8 percent to SAR 140 million from SAR 114 million in Q2 2022.
- The increase was mainly due to the additional revenue from the two new offshore rigs (AD110 and AD120) that started in December 2022.
Business
e& H1 net profit $1.27bn
The company's second quarter net profit increased 4% year on year.
- In a statement, the company said its consolidated EBITDA reached AED 12.8 billion, resulting in an EBITDA margin of 48 percent.
- In the UAE, etisalat by e& recorded 13.9 million subscribers, an increase of 5.1 percent compared to the same period of last year.
Business
Ooredoo Algeria gets new CEO
Roni Tohme, the Acting CEO, has been confirmed as the CEO.
- Tohme brings over 21 years of experience in telecoms and finance to his new role, having previously served as Ooredoo Algeria’s Chief Financial Officer.
- During his tenure as CFO, he played a vital role in shaping an agile and lean finance department, contributing to the company’s business transformation.