Search Site

Trends banner

Company News

Aramco, unit and Sinopec ink $4bn deal

The two companies will establish a joint venture company.

Etihad unveils new A321LR aircraft

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

stc Group Q1 net profit up 11.05%

The Group reported a revenue of $5.12 billion.

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.

DEWA okays $843m in H2 2024 dividend

DEWA had posted a net profit after tax of $1.96 billion for the full year 2024.

Fashion giant Shein to go public

Shein was valued at $66 billion earlier this year.
  • The company was valued at $66 billion earlier this year, and a public presence by the company in the United States could make huge waves on Wall Street
  • Shein recorded $23 billion in revenue and $800 million in net profit in 2022, Journal said reporting that firm has told investors it has posted new records in 2023

Beltone 9M net profit at $2.7m

In 9M, the firm's restructuring led to a turnaround.
  • Operating revenue in 9M 2023 increased to US$30 million, a growth of 271 percent Year-on-Year.
  • The NBFIs operating revenue recorded US$15 million in 9M2023, a growth of 680 percent YoY.

JABEEN signs contracts with Retal, Abyatna

The firms will build primary and secondary infrastructure works.
  • Under the contract, a total of 897 residential units will be built in the Jubail industrial city.
  • The $319 million contract, which was awarded on Nov. 26, 2023, extends for 40 months, starting on the date of the land handover from JABEEN to Retal.

Infracorp logs $29.8m profit

The company specializes in social infrastructure.
  • Infracorp is currently restructuring its industrial portfolio to support its expansion in developing vital industrial infrastructure in Bahrain
  • The company is expanding its investment portfolio in the hospitality sector and attracting several international names, including ROKA and Avli by tashas

ADX lists FAB Green Sakuk

FAB is the United Arab Emirates’ largest bank.
  • FAB is the UAEs’ largest bank and one of the world’s largest banking groups, with total assets of $326.7 billion
  • The $354 million sakuk, is the first ever green issuance in dirham and the largest ever dirham sukuk

Naufar partners with MEEZA 

MEEZA is a Managed IT Service and Solutions provider in Qatar.
  • Naufar aims to overhaul its IT infrastructure by leveraging MEEZA's expertise to migrate to the secure and innovative Azure cloud platform
  • The move is poised to enhance operational efficiency, reinforce data security measures, and elevate patient care services through cutting-edge Microsoft Azure capabilities

EDGE signs MoU with MBRSC

The pact sets up a framework for knowledge, data sharing
  • The agreement exemplifies the strength of local partnerships in the UAE.
  • It underlines EDGE's commitment to expand its expertise into the space sector.

Solutions+, EIH sign MoU

The pact will help in creating job opportunities in the UAE.
  • The pact outlines a strategic cooperation that contributes to supporting and developing closer ties between the two companies.
  • The agreement will help improve efficiency in Business Process Outsourcing, Digital Management and Facility Management.

MBC Group IPO plea okayed

The conglomerate intends to sell 33.25 million shares.
  • The number of shares represent 10 percent of the capital of the Saudi media conglomerate.
  • The company's prospectus will be published ahead of the planned share sale, the market regulator said in a statement.

Yalla 9M revenue at $237.9m

The results underscore the firm’s robust financial performance.
  • The company's net margin remained exceptionally high at 41.4 percent, highlighting its strong monetization capabilities.
  • Yalla's average monthly active users experienced significant growth, surging by 13.6 percent to 35.1 million in Q3 2023.

DEWA okays $843m in H2 2024 dividend

DEWA had posted a net profit after tax of $1.96 billion for the full year 2024.

Latest News

ADIB 2023 net profit $1.4bn

The bank achieved a Return on Equity of 27.1 percent.

QFC signs two MoUs

MoUs with BFB, Partior were inked during Web Summit 2024.

Chevron $53bn Hess deal in danger

Rivals' challenge to the control of a key oil asset can derail the acquisition.

Most Read

Goldman Sachs, Mubadala ink pact

The two firms have signed a $1 billion private credit deal.
  • The partnership will be managed by Private Credit at Goldman Sachs Alternatives, with a dedicated team across multiple Asia Pacific markets.
  • This mandate will enable both firms to continue scaling their investment activity in the large and growing Asia Pacific credit market.

US downs three Houthi drones, strikes anti-ship missiles

Yemen's Iran-backed Houthis have been targeting shipping for months and their attacks have persisted despite repeated American and British strikes...
  • CENTCOM said US forces destroyed "seven Iranian-backed Houthi mobile anti-ship cruise missiles that were prepared to launch towards the Red Sea."
  • US Central Command said those strikes , carried out between 12:30 p.m. and 7:15 p.m. Sanaa time, were made in self-defense

Lloyds Group profit is $6.2bn

High interest rates benefitted the British lender and banking sector as a whole.
  • "The group delivered a robust financial performance in 2023, meeting our guidance," said chief executive Charlie Nunn
  • Banks in the UK and elsewhere are gaining from higher interest rates as central banks, including the Bank of England