Yahsat to invest US$100m
Business
Invictus plans $272m expansion
Business
KEZAD Group, GFCF ink deal
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Arada H1 sales $1.15bn
Business
QNB H1 2023 net profit at $2bn
Business
Business
Saudi bank inks $100m deal
The agreements are aimed at bolstering Saudi exports.
- The Saudi Export-Import Bank has signed reinsurance agreements worth over $101 million (about SAR 380 million)
- It signed the deals with the Arab Investment and Export Credit Guarantee Corporation or Dhaman
Business
Dubai Investments net profit $123m
The firm will focus on the real estate market, its CEO said.
- Total Income also increased to AED 2.6 billion from AED 1.9 billion for the first nine months of the year.
- The Group recently announced its new venture in the emirate of Ras Al Khaimah.
Business
Al Seer Marine net profit $666m
The net profit for the first nine months of 2020 was AED 25.40m.
- The increase in net profit was driven by a rise in income from investments and recent acquisitions.
- The company has acquired Very Large Gas Carriers for transport of LPG through its partnership with BGN International.
Business
Empower to buy DXB assets
The deal is valued at AED1.1 billion ($300 million).
- A mega project has been signed by cooling services provider Empower for $300 million
- As a result, Empower will own all of Dubai’s international Airport’s existing cooling assets
Business
DFM to list 10 new firms
Dubai aims to increase its market volume to AED3trn.
- The Dubai Financial Market has listed 10 government and state-owned companies
- The announcements came during the first meeting of the Securities and Exchange Higher Committee
Business
Emirates set for Boeing talks: CEO
The talks will be held over the delayed 777Xs 'before and during' Dubai Air Show.
- The airline has repeatedly complained about the delivery of the long-haul jet, whose launch has been set back by a series of safety and technical problems.
- Emirates announced an order of 150 777Xs at the 2013 Dubai Air Show and later revised the deal.
Business
Brazil’s InvestSP joins Global Logistics Passport initiative
InvestSP Corporation and the Global Logistics Passport initiative have signed a Memorandum of Understanding or MoU for better shipping and...
- Members of the Global Logistics Passport Initiative can expect an annual increase in trade of 5-10 percent
- As merchants benefit from more efficient commodity movements, new trade routes are expected to be opened
Business
Etisalat Q3 revenue up 2%
The aggregate subscriber base increases by 4 percent YoY.
- Net profit amounts to AED 2.4 billion, an increase of 1 percent compared to the same period last year.
- The company said that in the UAE, its subscriber base reached 12 million.
Business
Etisalat Q3 revenues rise 2%
Its consolidated revenues in Q3 reached AED13.3bn ($3.62bn).
- Consolidated net profit after Federal Royalty amounted to AED2.4 billion ($653.5 million), an increase of 1 percent
- Consolidated EBITDA amounted to AED 6.7 billion ($1.82 billion), resulting in an EBITDA margin of 51 percent
Business
Batelco net profit up 9 percent
Batelco said steady revenue growth led to this rise in profit.
- Batelco has announced net profit of BD15.7 million ($41.6 million) for Q3 2021
- This is a 9 percent increase from BD14.4 million ($38.2 million) for the corresponding quarter of 2020
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Yahsat to invest US$100m
Business
Invictus plans $272m expansion
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KEZAD Group, GFCF ink deal
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Arada H1 sales $1.15bn
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Cisco buys Splunk for US$28bn
Splunk is a software platform that uses AI to identify malware.
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Securiguard Middle East renews contract
Firm won $109 million contract extending over four years.
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Business
stc’s acquisition of Telefonica stake okayed
Spain's Securities Market Regulatory Authority cleared the deal.
- Morgan Stanley, which advises on the deal from the buyer's side, accumulated a little less than 3 percent of Telefonica’s capital during an unspecified period of time.
- Media reports said that stc announced recently it acquired a 9.9 percent stake in Telefonica for SAR 8.5 billion (2.1 billion euros).
Business
DAE closes $1.6 billion loan
DAE said this is the company's largest ever loan facility.
- The facility enabled DAE to tap the Islamic banking liquidity and consolidate its existing banking relationships in the Middle East, Asia, North America, and Europe, it said.
- Proceeds from the facilities will support the future financing needs of the business and refinance a maturing credit facility.
Business
EIH buys stake in Al Ain Pharmacy
Move aligns with EIH's aim to diversify sources of investment.
- The acquisition is vital for EIH as it seeks to strengthen its investment in healthcare through its subsidiary Health Plus Holding.
- The move will help provide additional and sustainable value to investors and achieve the maximum return on investment.