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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

ADIB, Aldar close $272m financing deal

Aldar's total ESG financing facilities reach $1.30 billion.
  • Aldar intends to utilize the proceeds to finance sustainable projects such as green buildings, property upgrades to enhance energy efficiency.
  • The company also intends to use the proceeds to finance sustainable water management, pollution control measures and renewable energy sources.

ADNOC signs LNG delivery agreement

The 15-year agreement was inked wit ENN LNG (Singapore).
  • The LNG will primarily be sourced from ADNOC’s low-carbon Ruwais LNG project, currently being developed in Al Ruwais Industrial City, Abu Dhabi.
  • The Ruwais LNG project is set to be the first LNG export facility in the Middle East and North Africa (MENA) region to run on clean power.

Hyundai to sell Russian plant

Sales of Hyundai cars have tumbled in Russia.
  • The war in Ukraine has sparked an exodus of foreign companies from Russia, including many major car manufacturers.
  • Sanctions by the European Union, the United States and others have made it increasingly difficult to do business with Russia.

Bayanat, Yahsat to merge           

It will benefit from revenue synergies, economies of scale.
  • The merger will create an AI-powered space technology champion in the MENA region with an implied market capitalization of over US$4 billion.
  • The combined entity will be vertically integrated and optimally positioned to capture regional, global opportunities in geospatial and mobility solutions.

Lufthansa orders planes for $9 bn

The airline ordered 40 planes each from Boeing and Airbus.
  • The Airbus planes are intended to be used by Lufthansa's new regional carrier, City Airlines, which is due to start operating in summer 2024.
  • The aircraft, the first of which will be delivered in 2026, will be deployed on short-haul routes from Frankfurt and Munich.

Mubadala Energy makes gas discovery

This is the company's second successful well in the Andaman area.
  • The latest discovery comies after the success of Timpan-1 in Andaman-II, which itself came after the success of Cengkih-1 in our SK320 in Malaysia.
  • The well encountered an extensive gas column with a thickness of over 230 meters in an Oligocene sandstone reservoir.

AviLease, SDH Wings Sign MoU

The MoU will expand SDH Wings' portfolio of aircraft.
  • AviLease acquired a 10 percent share of SDH Wings as part of the recently completed acquisition of the aircraft leasing platform of Standard Chartered.
  • AviLease and SDH Wings have already identified the first five new technology narrowbody aircraft from AviLease’s owned portfolio that are now under LOI.

Japan’s Nippon to acquire US Steel

Nippon Steel will also assume the US firm's debt.
  • Nippon Steel will acquire US Steel in an all-cash deal at $55 per share, a 40 percent premium above its closing price on December 15
  • US Steel launched a strategic review in August after receiving several unsolicited offers for a partial or total takeover.

Abu Dhabi fund CYVN invests $2.2bn in Nio

This follows an earlier investment of $738.5 million by CYVN in July.
  • The investment for Nio, one of US-based Tesla's rivals in China, comes as the Shanghai-founded business remains largely loss-making.
  • CYVN, an investment vehicle based in Abu Dhabi, had made an investment of $738.5 million by CYVN in July.

KIPCO sells its stake in GIG

The deal is valued at 256 million Kuwaiti Dinars ($832 million).
  • The purchase price was set at KD two per share, with an adjustment of 54 fils per share to account for the cash distributions GIG made in 2022
  • The sale of KIPCO's stake in GIG is seen as a testament to the company's effective strategy of acquiring, expanding, and then timely exiting companies

Al Ansari approves $85m dividend

This is approx 78% of the company's net profit after tax.

Latest News

AstraZeneca to buy Amolyt for $1bn

It will pay $800 million upfront for the Lyon-based company.

DP World 2023 profit is $1.5bn

The company's revenue grew 6.6 percent to $18.25 billion.

Inditex posts record net profit

Inditex, the world's biggest fashion retailer, is owned by Zara.

Most Read

CI Capital 2023 revenue $134m

The firm’s performance was fueled by strong growth.
  • The group’s total on-balance sheet financing portfolio ended the year at US$373 million.
  • Corplease, the group’s leasing arm, saw its revenue rise 70 percent to reach US$74 million.

Burjeel Holdings net profit up

The company’s 2023 annual revenue rises to US$1.2 billion.
  • The group continued to implement its geographic expansion strategy with the launch of the PhysioTherabia rehabilitation network in Saudi Arabia.
  • It opened eight new centers in March 2024 in Riyadh, Jeddah, Dammam, Khobar, and Yanbu which significantly expanded its geographical reach.

Nationwide offers to buy Virgin Money

Nationwide has offered US$3.7 billion for Virgin Money.
  • Nationwide management believe the transaction will broaden and deepen its products and services faster than could be achieved organically.
  • The deal remains subject to due diligence and approvals from Virgin Money shareholders as well as Nationwide's borrowers and depositors.