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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.

Tesla to recall 1.6m EVs in China

China is a vital component in US-based Tesla's global layout.

Business

Baidu cancels YY Live deal

The deal was originally expected to be completed by 2021.

Business
Business

Burgerizzr sets IPO share price at $44

A total of 725,000 ordinary shares of the Saudi company were fully subscribed.
  • The coverage ratio amounted to 6,646% of the total IPO shares.
  • The company is yet to coordinate with Tadawul to finalize the date of the listing

DEWA launches camp for women

The two-month virtual camp is said to feature six learning tracks.
  • The virtual self-development camp is being attended by 200 participants across different divisions
  • It will focus on balancing personal and professional lives, career success tools, and self-development and adjusting to change

SABIC inks $6bn China deal

Saudi Basic Industries Corporation is the chemical arm of Aramco.
  • SABIC’s deal in China is expected to see it build a mega petrochemical complex in the country
  • The total investment going into the project will reportedly be 40 billion yuan ($6.18 billion)
Business

Google to appeal €500m French fine

The fine, issued by the French Competition Authority in July, was the biggest in the agency’s history for a failure...
  • The fine, issued by the French Competition Authority in July, was the biggest in the agency’s history for a failure to comply with one of its rulings
  • The watchdog said Google had failed to negotiate with media companies in a battle over the internet giant’s use of snippets of articles, photos and videos in search results
Business

Windows 11 rollout from October 5

Microsoft said the first rollout would upgrade Windows 10 PCs.
  • The free upgrade for Windows 10 PCs will be phased and measured with a focus on quality
  • Computers that come preloaded with Windows 11 will also become available for purchase from October 5
Business

OptiNAND: WD’s new disk feature

Data retention, performance enhanced in the new architecture.
  • OptiNAND offers customers a solution to meet the demand for storing vast amounts of data.
  • A drive works smarter with enhanced firmware algorithms.

Stella Stays eyes $12bn Bahrain push

This is part of its expansion plans in the Middle East region.
  • Stella Stays operates a portfolio of managed properties in the UAE, Bahrain and Canada
  • The startup, launched in late 2019, has grown to manage nearly 300 properties as of August

Meydan taps Empower for cooling

Empower will also acquire the existing cooling plant in the area.
  • The total capacity provided would be 382,000 RT
  • It will serve the needs of 750 existing and upcoming buildings in the city
Business

Bahrain mall eyes $159m expansion

The expansion work on The Avenues will be launched in Q3 2021.
  • The expansion will add a leasable area of approximately 40,000 sq m to the shopping center
  • The total gross leasable area will reportedly be approximately 77,500 sq m
Business

DEWA’s sustainability report out

It focuses on social, economic and environmental aspects.
  • The 8th annual Sustainability Report 2020 focuses on DEWA’s efforts in promoting sustainability with its social, economic and environmental aspects
  • The authority follows the best international practices as well as sustainable and integrated systems that ensure providing value-added services

Tesla to recall 1.6m EVs in China

China is a vital component in US-based Tesla's global layout.
Business

Company News

ADNOC signs catering deals worth $272m

Abu Dhabi Airports, Bombardier to create aircraft hub in UAE

KEZAD, Al Eskan Al Jamae merge

Musabbeh Al Kaabi to join ADNOC

Glencore to pay US$180m

Latest News

ADIB posts 61% net profit growth in H1

The bank's revenue grew by 50 percent to AED 4.3 billion.
Business

Aston Martin H1 revenue up

Revenue accelerated 25 percent to US$877 million.
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...
Business

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Business

DIB H1 2023 net profit $844m  

Profit driven by core revenues, effective cost management.
  • Gross new underwriting and sukuk investments during H1 2023 reached US$12 billion compared to US$8.9 billion in H1 2022.
  • Total income reached to US$2.5 billion compared to US$1.6 billion, a solid expansion of 49 percent year on year.
Business

Nissan Q1 net profit $750m

Results due to better sales in Japan, North America.
  • Sales rose 37 percent to US$20.6 billion, even as tougher competition and a sluggish post-Covid recovery hurt its performance in China.
  • The auto giant raised its annual net profit forecast to US$2.4 billion from its previous estimate of US$2.2 billion, boosted in part by cost-cutting.
Business

RAKBANK H1 profit $245m

This is the bank's highest-ever half-yearly profit.
  • Net profit for the second quarter was AED 450.5 million, up 46.6 percent compared to Q2 2022.
  • Net interest income and income from Islamic products net of distribution to depositors was AED 1.6 billion.