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Company News

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

JetBlue, Spirit Airlines cancel merger

Earlier, a federal judge ruled it violated US antitrust law.

QFC signs two MoUs

MoUs with BFB, Partior were inked during Web Summit 2024.

Business
Business

Kuwait Oil Co to hike output

KOC plans to hike capacity to 3.2 million bpd by 2025.
  • The main projects to hike capacity are said to include two new gathering centers, complete revamp of others, and building water-handling facilities
  • They also reportedly include building water injection facilities, and upgrading current production facilities
Business

New leaks rock Facebook

Internal documents seem to support the accusations.
  • Facebook held back from doing all it could to stop users from being radicalized, say recent leaks
  • It is also accused of not doing enough to stop US election misinformation from flooding the social network
Business

Banan to distribute cash dividends

The shareholders will get dividends for the period ending June 30.
  • Banan Real Estate Company focuses on the investment and development of commercial, hospitality, and residential real estate.
  • The dividends will be distributed automatically by depositing in the investment accounts linked to the shareholders’ portfolios.
Business

QatarEnergy partners for UK project

This is QatarEnergy and Shell’s first hydrogen agreement.
  • QatarEnergy and Shell have signed an agreement to pursue joint investments in blue and green hydrogen projects in the UK
  • It apparently establishes a framework for collaboration and joint investment to develop hydrogen solutions in the UK
Business

TAQA lands Aramco water project

The project will be used to make power and desalinate water.
  • The Abu Dhabi National Energy Company or TAQA will develop a greenfield cogeneration power and water desalination project in Saudi Arabia
  • TAQA will do this along with the Marubeni Corporation for Saudi Aramco
Business

Zain Group unveils unit to help boost regional telecom infrastructure

ZainTech will provide solutions for Cloud, Cybersecurity, Big Data, IoT, AI, Smart Cities and Emerging Technologies while incorporating NXN and...
  • Solutions for Cloud, Cybersecurity, Big Data, IoT, AI, Smart Cities and Emerging Technologies remain key focus
  • Andrew Hanna has been appointed CEO of the newly launched ZainTech
Science

Rio Tinto to ‘halve’ emissions

Mining releases 4-7% of global greenhouse gas emissions.
  • Rio Tinto said it would spend around $7.5 billion from now until the end of the decade to reduce emission
  • The cut would be to so-called scope one and two emissions — from mining operations and power consumption
Business

Emirates Islamic net profit $218m

Higher non-funded income, reduction in the cost of risk push profits up.
  • The total income rose 14 percent year on year and 43 percent on the same quarter in 2020 by higher non-funded income.
  • The customer financing stood at AED 42.4 billion, an increae of 4 percent from 2020.
Business

Netflix subscribers numbers jump

Streaming giant's profit grew 16 percent to $7.5 billion
  • Its profit grew 16 percent to $7.5 billion
  • Streaming giant ended the quarter with 214 million subscribers.
Business

Google debuts new Pixel

Smartphone sales are dominated by Apple, Samsung
  • Smartphone sales are dominated by Apple and Samsung
  • Google touted the phones as completely "reimagined" during a presentation

JetBlue, Spirit Airlines cancel merger

Earlier, a federal judge ruled it violated US antitrust law.

Company News

Bayer 2022 profits $4.3 billion

SABIC Agri profit $2.7 bn

Ericsson to cut 8,500 jobs

Eni posts record profit in 2022

IAG flies back into annual profit

Latest News

Lumi IPO 11.5 times oversubscribed

The daylong retail offering saw 124,900 investors subscribe.
Business

RSG gets Mostadam Diamond Certification

The accolade recognizes RSG's commitment to sustainability.
Business

Mubadala launches ‘Capital Solutions’

The new platform offers bespoke solutions to investors.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Agthia okays H1’23 interim dividend

The interim dividend reflects the firm’s robust balance sheet.
  • Agthia Group had announced strong first-half results, with group net revenue increasing 10.3 percent year-on-year to US$599 million.
  • EBITDA increased 18.3 percent supported by margin expansion in snacking, protein, water and food, and a 6.6 percent increase in group net profit.
Business

ENEC inks MoU with OSGE

Aim is to help in decarbonization of the Polish power sector.
  • One of the aims of the agreement is exploring opportunities to invest in Small Modular Reactors.
  • Nuclear energy is recognised by both the UAE and Poland as an essential clean energy resource.
Business

Saudi EXIM, India EXIM ink MoU

Pact was signed on the sidelines of G20 Summit in New Delhi.
  • The primary objective of this agreement is to facilitate the export of products and services between Saudi Arabia and India.
  • The key areas of cooperation encompass exporting products and services, the exchange of information and expertise.