Tesla to recall 1.6m EVs in China
China is a vital component in US-based Tesla's global layout.
Business
EITC posts Q1 revenue at $936m
Business
Beema’s Q1 profit soars
Business
Pfizer Q1 profit at $5.5bn
Business
Eshraq to buyback shares
Business
Business
Facebook hits back at scathing reports
The company is under pressure to guard against being misinformation platform
- The company is under pressure to guard against being misinformation platform
- One of the articles, citing Facebook's own research, said a 2018 change to its software ended up promoting political division
Business
Drydocks World develops ‘South Yard’
The latest project is aimed at increasing the company’s fabrication capacity.
- The firm is building a dedicated facility for new building projects comprising 70,000 sq.m. area
- The world-class yard will feature cutting-edge equipment, a much leaner execution process and a facility for heavy structures
Business
Etisalat’s SmartHub centres grow
SmartHub has become a key element of the digital infrastructure in the region.
- Etisalat’s SmartHub data centres act as an ICT bridge between continents, always supporting critical business activities of global customers
- SmartHub seeks to be a preferred location for carriers, cloud service providers, Internet exchanges and companies looking for a carrier grade data centres
Business
Mrs Bectors subsidiary comes up in UAE
The new company, Mrs Bectors Food International, was incorporated on September 14.
- Mrs Bectors Food Specialities Limited was incorporated as Quaker Cremica Foods Private Limited on September 15, 1995
- Following the termination of a JV agreement, the company was renamed Mrs Bectors Food Specialities Private Limited
Business
Dragon Oil to double output by 2026
Dragon Oil to double output by 2026
- The company is eying new developments in Turkmenistan, Iraq, and Egypt
- It achieved a positive performance in 2020, and continued to maintain steady annual growth in 2021
Business
Imdaad signs three contracts in a month
The total value of the contracts signed with several UAE clients is AED90 million.
- Several UAE-based clients have awarded contracts in retail, sports and real-estate sectors.
- Imdaad was hired by the Dubai World Trade Centre for Total Facilities Management services at Expo Village.
Business
flydubai signs pact with Saudi company
The Saudi company will undertake ground handling services for flydubai.
- The AED 100m agreement has been signed for five years.
- flydubai said the agreement reflects the longstanding relations between it and Saudi partners.
Business
Al Salam Bank buys back shares
The bank has bought 320,664 shares on DFM and Bahrain Bourse.
- The bank has bought 320,664 shares on Dubai Financial Market and Bahrain Bourse
- The move increases the total holding of treasury shares from 110,779,910 to 111,100,574
Business
NBF starts e-trading platform
NBFX will help customers digitally hedge their treasury requirements.
- The new platform is available for both conventional and Shariah-compliant banking customers on a 24/5 basis
- Customers will be able to execute transactions during and beyond the bank’s working hours and benefit from liquidity across all time zones
Business
$6bn merger for Ooredoo arm
The merged company will be called PT Indosat Ooredoo Hutchison.
- PT Indosat, the Indonesian arm of Qatari telecom firm Ooredoo, will be merged with and PT Hutchison 3 Indonesia
- H3I is a telecom company owned by Hong Kong-based CK Hutchison Holdings
Company News
Carrefour now opens in Israel
Business
DEWA Q1 profit $207.8m
Business
Maersk Q1 profit dips
Business
BMW Q1 net profit at $4.1bn Â
Business
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Airbus Q1 net profit at $514m
Business
EITC posts Q1 revenue at $936m
Business
Beema’s Q1 profit soars
Business
Pfizer Q1 profit at $5.5bn
Business
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Business
Aldar Properties Q2 net profit $353m
Aldar recorded AED 2.1 billion in net profits for the first half of 2023.
- It also achieved revenues of AED 6.3 billion dirhams, an increase of about 18 percent.
- Aldar reported a record development sale of AED 11.6 billion with 10 new project launches year-to-date.
Business
Aldar expands into Dubai, Bahrain
The company announces $95 million investment for expansion.
- This investment adds to the initial commitment of AED 1 billion announced last year, Aldar said in a statement.
- The acquisition of Kent College Dubai and Virginia International Private School will expand Aldar Education’s presence in the UAE, the company said.
Business
National Leasing’s profits hit $2.37m
A jump of 28 percent in net profit vis-a- -vis H1 2022.
- National Leasing Holding was established in 2003
- It was listed on QSE in 2003 with a capital of $135.9 million.