This is a temporary backup site for TRENDS MENA while our primary website is being restored following a regional disruption affecting Amazon Web Services cloud infrastructure in the GCC.

Search Site

VideosInforgraphics
Sign inSubscribe

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.

Baidu cancels YY Live deal

The deal was originally expected to be completed by 2021.

Business

Bank takes over Amiantit subsidiary

The bank will absolve Amiantit of all its financial obligations.

Business

Aramco eyes $17bn from gas pipeline

This is on the lines of the $12.4bn it got from the oil pipeline deal.
  • Potential bidders include North American private-equity and infrastructure funds, as well as state-backed funds in China and South Korea
  • Aramco has reportedly approached them through its advisers before the formal sale process starts in the next few weeks

Saudi Cement Q2 revenue up 17%

It registered revenue of SR348 million ($92.8 million) in Q2.
  • The final number was higher than the estimate of SR324 million by 7.6 percent
  • Growth in sales was supported by a 21.5 percent y-o-y growth in volume

Etisalat UAE gets new CEO

Masood M Sharif Mahmood has 20 years of experience in the industry.
  • Masood M Sharif Mahmood will report directly to the Etisalat Group CEO, a position currently held by Hatem Dowidar
  • He currently serves on the boards of Yahsat, the UAE Space Agency, and the Etihad Aviation Group
Business

Khalid Al Qubaisi new ADES CEO

Al Qubaisi served as a VP at Mubadala Investment Company.
  • ADES, a TAQA subsidiary, is responsible for retrofitting government and commercial buildings.
  • TAQA expects the appointment shows its ambition to become a champion for low carbon power.
Business

Rumailah Farm signs deal

The company will supply dairy products to Address Beach Resort.
  • Nestled in the scenic Hajar Mountains overlooking the Gulf of Oman, Address Beach Resort Fujairah officially opened its doors on Jul 15.
  • Rumailah Farm currently operates two coffee shops on the UAE’s East Coast, in Fujairah City and Dibba.

Apple defends anti-abuse features

Encryption, privacy specialists have said the tool could be exploited.
  • Last week, Apple unveiled two features to debut on iPads and iPhones in the United States
  • Encryption and privacy specialists have said the tool could be exploited for other purposes, potentially opening a door to mass surveillance

Ithmaar Holding gains $4m in H1 2021

This is a turnaround from H1 2020, when net loss was $1.29m.
  • The increase is reportedly due mainly to the performance of the company’s retail banking assets
  • EPS for H1 2021 was $0.14, compared to a negative $0.04 for the same period in 2020
Business

Adidas sells Reebok to Authentic Brands Group in $2.5bn deal

Adidas in 2006 acquired Reebok — till then an independent entity with a history that can be traced back to...
  • Reebok is the latest big brand under ABG, which already owns Arrow, Brooks Brothers, Forever 21, Sports Illustrated, and Van Heusen
  • It also owns the likeness rights or estates to celebrities like Muhammad Ali, Elvis Presley, Shaquille O'Neal, and Marilyn Monroe

Chevron JV wins $240m Bapco deal

This is the largest catalyst management deal in Bapco’s history.
  • This is an exclusive five-year agreement, which includes an option to renew for an additional five years
  • The resulting plant would be known as 1RHCU when fully operational in 2023

Shareholders okay Arkan merger

Arkan will merge with Emirates Steel by the end of this year.
  • The key terms of the merger were proposed in May this year by Emirates Steel’s parent company Senaat
  • They are to transfer Emirates Steel to Arkan in consideration for the issuance by Arkan to Senaat of a convertible instrument

Baidu cancels YY Live deal

The deal was originally expected to be completed by 2021.
Business

Company News

EGA, ITOCHU sign agreement

Educational Holding net profit $20.3m

Alibaba posts Q3 loss of $2.9bn

Mubadala acquires stake in ACX

Siemens posts Q4 profit of $3bn

Latest News

FAB H1 2023 net profit $2.2bn

It is highest ever profit achieved by FAB in a half-year.
Business

AD Ports Group, CMEC ink MoU

The two companies will explore opportunities globally.
Business

Volvo Cars Q2 net profit $342m

Firm in profit despite high inflation, rising interest rates.
Business

Most Read

Business

Goldman Sachs Q2 profits at $1.1bn

Profit fell due to anemic M&A market, weakness in trading.
  • The big investment bank has essentially abandoned a once-touted push to compete with retail banks for Main Street consumers.
  • Goldman also suffered a drop in its other main division, asset and wealth management, citing net losses and markdowns in real estate.
Business

Microsoft, Activision gaming deal deferred

July 18 was the cut off point to finalize the $75bn deal.
  • The deal for Microsoft to acquire Activision now gets pushed by three months to October 18.
  • In return, Microsoft agreed to pay Activision an increased break-up fee in case either side walks away from the deal.
Business

Tata to build car battery factory in UK

The $5.2bn factory is expected to create up to 4,000 jobs.
  • The factory is Tata's first giga facility outside India, and will be built in Somerset, southwest England.
  • The British government said the new manufacturing facility is expected to provide almost half of the battery production that the UK will need by 2030.