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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.

Dragon Oil, Turkmennebit ink MoU

Aim is to expand Dragon Oil’s investments in Turkmenistan.

Business

Noatum buys APM Terminals Castellón

Noatum Terminals is the terminals ops business of Noatum Group.

Business

Oman Air inks deal in tourism push

The national carrier of Oman inked the deal with tripsnstay.
  • The agreement follows the recent announcement of Oman easing travel restrictions
  • The country on September 1 reopened its doors to vaccinated travelers with a negative PCR test result

Al Zorah selling new Ajman plots

Th plots are part of phase 2 of The Fairways project in Ajman.
  • This phase of the project is said to feature a total of 90 townhouses, 71 villas, and 33 buildings
  • All of them will be overlooking the golf course and the Al Zorah Mangrove
Business

DP World, FESCO to study Russia berth

Vladivostok and Murmansk identified as transshipment hubs.
  • The berth will help expand Vladivostok Commercial Seaport as a transshipment hub connecting cargo from East Asian countries to North-West Europe via the Northern Sea Route.
  • A record 33 million tons of cargo was carried along the route in 2020.

Emirates Post names new chairman

EPGC has announced that Badr Al Olama is its new chairman.
  • Badr Al Olama is the current executive director of the UAE Clusters at Mubadala’s Investment Company
  • He also spearheads the organizing committee of the UN-backed Global Manufacturing and Industrialization Summit

Mubadala buys gas field stake

It has spent $1.03 billion to buy a stake in the Tamar gas field.
  • Israel-based Delek Drilling signed a sale and purchase agreement with Mubadala
  • As a result, the Abu Dhabi-based company now has 22 percent non-operated stake in the gas field

Aston Martin Vantage to police Dubai

The Vantage joins other sports and supercars of the police force.
  • The Dubai Police Vantage’s custom number plate alludes to the UAE’s seven emirates and Aston Martin’s association with the James Bond franchise
  • The 25th film in that series, No Time to Die, is expected to be released worldwide next month

New Oman mall to create 3,500 jobs

The Mall of Oman is said to be the country’s largest complex of its kind.
  • The Mall of Oman has the only IMAX experience in the country
  • It will soon have global cafés and restaurants that offer more than 50 dining options

LinkedIn to drop Stories format

Stories is expected to be removed from LinkedIn by September.
  • In doing so, LinkedIn will follow Twitter, which earlier this year discontinued a similar experiment called Fleets
  • One big way the Stories format differs from TikTok or Reels of Instagram is these short-video formats do not see the message disappearing after 24 hours
Business

Investcorp sells PRO Unlimited

EQT Private Equity has bought it from the Bahrain-based asset manager.
  • The transaction was first announced on June 28, 2021
  • The Bahrain-based asset manager had acquired PRO Unlimited in October 2014
Business

‘Fly Arna’ Armenia’s new national airline

The new national airline is a joint venture between ANIF and Air Arabia.
  • The name was chosen by the joint venture company from over 500 suggestions
  • ANIF and Air Arabia Group had agreed to launch Armenia’s new national airline in July 2021

Dragon Oil, Turkmennebit ink MoU

Aim is to expand Dragon Oil’s investments in Turkmenistan.
Business

Company News

Mercedes plans $1.05 bn investment

DEWA approves special $552m dividend

Amgen to buy Horizon Therapeutics

AirAsia branch in Cambodia soon

Britain fines Santander US$132m

Latest News

Tabreed H1 23 net profit $105m

New customers and projects were added in H1 2023.
Business

SAB H1 profit up 59%

The bank's profit in Q2 increased by 43% compared to Q2 2022.
Business

Borouge Q2 net profit $231m

The company posted first-half revenues of $2.8 billion.
Business

Most Read

Business

Aston Martin H1 revenue up

Revenue accelerated 25 percent to US$877 million.
  • Losses after tax dropped to £142.6 million ($184 million) in the six months to the end of June
  • During the same period last year, the firm suffered a net loss of £290 million ($374.75m)
Business

NBF H1 net profit up 120 percent

Fujairah, UAE -- The National Bank of Fujairah (NBF) Wednesday posted 120.7 percent increase in first half net profit to...
  • The robust performance in Q2 2023 contributed to this growth, with NBF posting a net profit of AED 180.1 million, a 99.8 percent increase from the corresponding quarter of 2022.
  • The bank's operating profit for H1 2023 reached AED 785.3 million, a 28.9 percent increase from AED 609.1 million in H1 2022.
Business

Boeing shares surge despite Q2 loss

The aerospace company reported a $149 million Q2 loss.
  • A jump in plane deliveries boosted quarterly revenues to $19.8 billion, up 18 percent from the year-ago level and above analyst expectations.
  • In the second quarter, Boeing notched a 12 percent increase in commercial plane deliveries. Shares jumped 6.2 percent to $227.45 in early trading.