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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.

ADQ appoints new ADX chairman

The company also appointed two new Board directors.

Business

Penguin, SkyBlue ink MoU

The aim is to redefine outdoor media advertising in Abu Dhabi.

Business
Business

Apple fix for Pegasus breach

Researchers found the problem while analysing a Saudi activist's phone
  • Researchers found the problem while analysing a Saudi activist's phone
  • Hours after releasing the fix, Apple said it had "rapidly" developed the update
Business

Apicorp to allot $1bn for green energy

The bank will make the investment over the next two years.
  • Currently, green assets comprise more than 13 percent of the bank’s overall portfolio
  • This is equal to around $550 million in loans and direct investments
Business

Adnoc Drilling sets IPO share price

The initial price is set at AED2.30 (around $0.63) per share.
  • The subscription period for the Adnoc Drilling IPO will close on September 23 for UAE retail investors
  • It will close on September 26 for qualified domestic and international institutional investors
Business

Knight Frank strengthens UAE team

The company hires two members for Industrial and Logistics.
  • Company credits Maxim Talmatchi, who was hired as manager and co-head of Industrial and Logistics, with 300 successful transactions.
  • Dumitru Mamaliga, hired as industrial surveyor, has focused in the industrial and logistics sector in the UAE since 2017.

Kuwait Airways to resume New York flight

The destination is in high demand from business travelers, tourists.
  • Two kinds of aircraft will be operated for the route.
  • The airways has resumed operations from various destinations.

DGCX, Zimbabwe exchange ink pact

DGCX will extend technical support and skills to VFEX.
  • The aim of the agreement is to establish an international commodities exchange in Zimbabwe.
  • The one-year agreement was signed during the visit of a high-level Zimbabwean ministerial delegation.
Business

Lanzone is new Yahoo boss

Yahoo has been gradually supplanted by titans like Google
  • Yahoo has been gradually supplanted by titans like Google and was bought this year by private equity firm Apollo Global Management in a deal for Verizon's media properties.
  • Yahoo remains popular with internet users, particularly for its financial and sports news, and claims 900 million monthly users.
Business

WhatsApp users may encrypt backups

FB was recently accused of breaching WhatsApp users’ privacy.
  • Mark Zuckerberg has announced that WhatsApp will let users encrypt chats they choose to back up
  • The facility will be available for users of devices that can run Apple’s iOS and Google’s Android
Business

TIER takes e-scooter service to Bahrain

This came as part of TIER’s ongoing expansion in the Middle East.
  • Bahrain is the third country in the Middle East and 14th overall where TIER has a presence
  • It launched in Bahrain by collaborating with the country’s Ministry of Transportation and Telecommunications
Business

Adnoc Drilling eyes $86m rigs

Adnoc, Adnoc Drilling, and H&P have formed an alliance for this.
  • The rigs are expected to be delivered and commissioned in stages over a 12-month period
  • The process is subject to acceptance upon successful completion of a final inspection on customary terms and conditions

ADQ appoints new ADX chairman

The company also appointed two new Board directors.
Business

Company News

FAB, Magnati, PayRow join hands

BHP to face trial in UK

ADNOC acquires 24.9% stake in OMV

Aramco, SABIC sign pacts

KEZAD Group signs lease

Latest News

National Leasing’s profits hit $2.37m

A jump of 28 percent in net profit vis-a- -vis H1 2022.
Business

QGIRC net profit down

The first half 2023 profit of $9.64m was 25% less than that of H1 2022.
Business

ESG H1 net profit $162m

The net profit increased by 831 percent year on year.
Business

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Business

PIF sets up tourism firm Asfar

Firm Saudi Tourism Investment Company has been set up.
  • The company will invest in new tourism projects and develop attractive destinations with hospitality, tourist attractions.
  • The company will leverage Saudi Arabia’s unique strategic location between the three continents of Asia, Africa and Europe
Business

Italy’s Eni Q2 profits down

Adjusted net profit also fell down 49 percent in the second quarter.
  • Like its competitors, Eni benefited last year from the spike in gas and oil prices, fuelled by the economic recovery after the pandemic and Russia's invasion of Ukraine.
  • Eni posted a record net profit of 13.8 billion euros in 2022, its best result in more than two decades.
Business

Tabreed H1 23 net profit $105m

New customers and projects were added in H1 2023.
  • In the first half of the year, Tabreed's revenue increased by 9.4 percent YoY to US$290 million, from US$265 million in H1 2022.
  • Earlier this month, Tabreed started operating the cooling infrastructure, officially commencing its first operations in India.