Inditex posts record net profit
Inditex, the world's biggest fashion retailer, is owned by Zara.
Ethmar net profit up $114m
Business
TCS Q1 profit at US$1.35bn
Business
Yahsat to invest US$100m
Business
Invictus plans $272m expansion
Business
KEZAD Group, GFCF ink deal
Business
Business
YahSat Q3 profit down 38 percent
YahSat said its contracted future revenues are over $2 billion.
- Yahsat said a final dividend of $52.5 million for 2021 is expected to be paid to all shareholders in April 2022.
- YahSat was last week appointed by the UAE government to complete a detailed analysis, assessment and recommendation for two new satellites.
Business
Air France inks Dubai deals
It has signed sustainable aviation fuel deals with Dubai firms.
- A high-level Air France delegation held strategic meetings with aviation leaders based in Dubai at Expo 2020
- The networking event was organized in partnership with the lille3000 association and sponsored by Clarins
Business
Al Sadd releases Xavi
The Spanish legend may now return to Barcelona.
- Xavi has so far led Al Sadd to the 20-2021 QNB Starts League title, and the 2020 and 2021 HH the Amir Cup titles
- He has also coached the team to win the 2020-2021 Qatar Cup title, and the 2019 Qatar Super Cup
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
Inditex posts record net profit
Inditex, the world's biggest fashion retailer, is owned by Zara.
Company News
IDB inks pact with IRENA
Business
Ethmar net profit up $114m
Business
TCS Q1 profit at US$1.35bn
Business
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Yahsat to invest US$100m
Business
Invictus plans $272m expansion
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Amazon to pour US$4bn into Anthropic
Its investment will heat up the race for dominance in AI.
Business
Microsoft to acquire Activision Blizzard
Activision Blizzard makes popular games like "Call of Duty".
Business
ADIB completes $750m sukuk redemption
The sukuk, issued on Sept 20, 2018, carried profit rate of 7.125%.
Business
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Business
Securiguard Middle East renews contract
Firm won $109 million contract extending over four years.
- The contract can be extended for an additional two years in the event of satisfactory service.
- The firm will deploy a team of over 2,000 experienced and qualified guards across Abu Dhabi.
Business
MODON inks $133 m pact
The pact will help manufacture vaccines in Saudi Arabia.
- MODON and Vaccine Industrial Company will set up a joint venture factory in Sadeer City to strengthen the pharmaceutical security system.
- It is in line with MODON's strategy to create an integrated industrial and investment community to attract national and foreign investor partners.
Business
Aramco, Cenomi see 4 negotiated deals
The $32.81 million deals were registered by Tadawul.
- A negotiated deal involves a stock purchase based on a bargain between buyers and sellers, apart from the market price.
- The negotiated deal does not directly impact the last deal price, highest/lowest stock price and opening/closing price.