Nationwide offers to buy Virgin Money
Nationwide has offered US$3.7 billion for Virgin Money.
Business
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
Business
Zoomcar enters Egypt market
Zoomcar targets 5,000 cars in Egypt by March 2022.
- Zoomcar to launch their functioning in Egypt
- The target of Zoomcar is to have 20,000 cars in market by 2022 end
Business
Mobily signs recycling deal
Mobily will recycle old and discarded Ericsson devices.
- Mobily is now expected to join the Ericsson Product Take-Back Program to recycle discarded electronic devices
- The program is responsible for the disposal and recycling of electrical equipment at the end-of-life stage
Business
Marjan lands $272m RAK project
Dubai Investments and Marjan have tied up for the project.
- The project’s design is reportedly set to offer a private enclave with waterfront views
- It is targeted at social gatherings, family unions, business meetings, or personal relaxation
Business
Toyota makes US battery push
Japanese firm Toyota is the world’s biggest carmaker.
- Toyota has unveiled plans to invest $3.4 billion into automotive batteries in the United States
- As part of the plan, it will build a factory in the country for production of such batteries
Business
Sabic leads low-carbon plan
Sabic, WEF, and global companies will formalize the plan.
- The agreement will look to formalize the low-carbon emitting technologies or LCET initiative into a standalone entity by 2023
- As a result, LCET members will share early-stage risks and co-invest in developing and upscaling low-emission technologies
Business
Al Dahra opens five animal feed plants
The plants are located in Serbia, Romania and Bulgaria.
- The new plants have a capacity of 500,000 tonnes per annum of clover and more than 15 types of feed and concentrated grains.
- The firm recently added some 11,000 hectares of clover to its existing plants in Romania.
Business
SODIC lands $100m loan
This will finance SODIC’s West Cairo flagship project.
- The Arab African International Bank and Banque Misr is providing this facility to SODIC
- SODIC is expected to use this facility to finance its West Cairo flagship development known as SODIC West
Nationwide offers to buy Virgin Money
Nationwide has offered US$3.7 billion for Virgin Money.
Business
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Verition opens office in DIFC
Business
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AllianceBernstein office in DIFC
Business
Subscription opens to Alinma EMF
Business
Saudi Catering, RSG ink pacts
Business
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
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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.