ESG 2023 net profit at US$187m
The firm posted a year-on-year net profit rise of 316 percent.
Business
Aramex Q1 net profit down 49%
Business
Foxconn Q1 profit dips 56%
Business
Indian vehicle ecommerce firm Cars24 enters UAE market
Indian-origin ecommerce platforms for pre-owned vehicles, Cars24, has entered the UAE market after its foray into Australia
Microsoft says Israeli firm sold tool to Arab countries to hack Windows
Microsoft has announced it has identified an Israeli cybersecurity company that sold malware Arab countries, among others, to hack Windows
ADNEC acquires DoubleTree By Hilton London ExCel
ADNEC has added a new hotel to its portfolio: the DoubleTree By Hilton London ExCel.
Dubai Investments buys additional NGI stake
Dubai Investments has acquired an additional 15.19% share of NGI from Emirates NBD Bank.
Griffith Foods and IFFCO joint venture debuts in Middle East
Griffith Foods and the IFFCO Group are launching a joint venture in the Middle East to make and sell food...
Tadawul in deal with SIX Group
The two will deal in Exchange products like cross listing & facilitate investors.
Emaar marks sukuk listing with bell
Emaar Chairman rings Nasdaq Dubai bell to celebrate $500m Sukuk listing.
Virgin Galactic falls back to Earth
Virgin Galactic has filed documents to sell as much as $500 million in shares.
Saudi food giant Savola acquires UAE’s Bayara
Saudi Arabia’s Savola Group has signed a deal to acquire UAE’s Bayara Holding for $260 million.
Dubai’s Shuaa plans SPACs worth $600 million
Shuaa Capital plans to set up three blank-check companies of around $200 million each.
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Company News
TAQA income rises to $3.16bn
Business
ICIEC inks deal with SNB
Business
Salik Q1 net profit $74.89m
Business
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Tabreed Q1 net profit $64.37m
Business
Aramex Q1 net profit down 49%
Business
KIB posts $19.5m net profit
The bank's total operating income reached approximately $115 million.
Business
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Business
AD Ports Q2 revenue grows 66%
The company attributed growth to increased volume across key sectors.
- On a like-for-like basis (LFL), which excludes the impact of M&A activity, the revenue growth was still significant, reaching 44 percent YoY
- The growth drivers were primarily the Maritime Cluster with a substantial 208 percent YoY increase, followed by the Digital Cluster with 26 percent
Business
Ma’aden, BADC ink agreement
Firm to supply 600,000 tons of fertilizers to BADC.
- The renewal is further proof of the company’s commitment to meet global market demand for phosphate fertilizers.
- Ma’aden supplies approximately 42 percent of Bangladesh’s estimated requirement of diammonium phosphate.
Business
Agility posts Q2 earnings of $46m
Net profit was affected by higher interest rate.
- For the first six months of 2023, Agility’s net profit stood at US$95.5 million.
- There was an increase in debt for financing the firm’s acquisitions last year.