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Company News

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

Business

Multiply Group buys stake in ISEM

Multiply Group will hold 60.8% of ISEM.

Business
Business

GSK profit in 2023 falls

The drug maker said revenues swelled 3 percent to $38.54bn.
  • Profit after tax slid sharply to £4.9 billion ($6.2 billion) last year from £14.9 billion in 2022, when it received a massive gain from the Haleon demerger
  • However, underlying adjusted operating profit, excluding exceptional items, jumped 12 percent to £8.8 billion last year to beat company guidance
Business

CBD posts record net profit of $721m

The bank has proposed record cash dividend of 44.38 fils per share.
  • Operating income was AED 4.93 billion, up 29.5 percent attributable to higher net interest income and improved fee and commission income.
  • The bank proposed record cash dividend of 44.38 fils per share. It added that higher market interest rates contributed to the increase in revenue.
Business

TECOM Group net profit up 49%

The company recorded its highest-ever revenue of AED 2.2 billion.
  • The lease of industrial lands witnessed a strong demand in 2023, as the occupancy rate rose to 94 percent, compared to 81 percent in 2022.
  • The company has recommended a dividend payout of AED400 million to the company's shareholders for the second half of 2023.
Business

UPS says will cut 12,000 jobs

The move comes as UPS seeks to "align" its resources.
  • Three-quarters of the reductions are set to come in the first half, UPS CEO said.
  • The decision comes after UPS reported Q4 2023 revenues of US$24.9 billion.
Business

Pfizer reports loss in Q4

The drugmaker's revenues fell 41 percent to $14.2 billion.
  • The drugmaker lost $3.4 billion in the fourth quarter, compared with profits of $5.0 billion in the year-ago period
  • Pfizer reiterated its 2024 revenue forecast of $58.5-$61.5 billion after 2023 revenues came in at $58.5 billion
Business

Schneider Electric, Charge&Go ink pact

The aim is to develop EV charging facility in the UAE.
  • Demand for electric vehicles in the UAE market has steadily increased over the past few years.
  • The collaboration also aims to deliver on the demand for sustainable transportation in the UAE.
Business

Toyota sells record number of vehicles in 2023

It is the world's top automaker for the fourth year in a row.
  • The automaker consolidated its position as the world's top-selling automaker for the fourth successive year
  • Toyota said that by next year it plans to have an electrified version for every Toyota and Lexus model globally
Business

Ghitha 2023 revenue at $1.2bn

Ghitha reported an operating profit of $69 million in 2023.
  • Ghitha's revenue milestone indicates a significant growth rate of over 100 percent compared to 2022.
  • This is due to the successful execution of strategic acquisitions and expansion across diverse categories.
Business

Dubai Investments buys GFP stake

GFP secures nearly $60 million in equity financing to expand its network.
  • GFP aims to create the leading fertility network in the region, and one of top 10 globally, according to a statement.
  • Saudi Arabia will be the focus of the investment. GFP’s facility in Riyadh is currently under construction and is due to commence operations later this year.
Business

Hamad Al Marar is EDGE CEO

EDGE has a local and global orderbook of over $5billion.
  • Al Marar succeeds Mansour AlMulla, who is returning to ADQ Group following a successful two-year managerial secondment to EDGE.
  • He will utilize his leadership skills and experience within the UAE’s defense industry to guide the group into the next phase of its evolution.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.
Business

Company News

Salik 2024 net profit before taxes $348m

ADNIC okays 45% dividend for 2024

stc net profit for 2024 $6.58bn

e& reports $2.94 billion in net profit

AD Ports Group 2024 net profit $484m

Latest News

Etihad unveils new A321LR aircraft

A321LR features First Suite - a private, enclosed space with a sliding door.
Business

stc Group Q1 net profit up 11.05%

The Group reported a revenue of $5.12 billion.
Business

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.
Business
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INSEAD Day 4- 300x600

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Business

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline
  • Saudia Group currently operates a fleet of 194 aircraft, serving commercial aviation, cargo operations, and logistics services.
  • "The group is set for significant expansion, with 191 new aircraft scheduled for delivery in the coming years," the airline said.
Business

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.
  • Net profit after tax for Q1 2025 was AED 1.7 billion, reflecting an 18 percent increase compared to Q1 2024.
  • Revenue for Q1 2025 improved by 14 percent to AED 2.9 billion compared to AED 2.5 billion for Q1 2024.
Business

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.
  • Total income rose 8 percent year-on-year to AED1.45 billion ($394 million) in Q1 2025.
  • Operating profit increased by 5 percent compared to Q1 2024, while the net profit margin remained robust at 3.85 percent.