INSEAD Day 4 - 728x90

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.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

Business

SIB H1 net profit $189m

The bank's total assets increased by $1.49 billion.

Business
Business

Chevron to acquire Hess

Chevron last year posted a record profit of $35.5 billion.
  • Chevron's deal values Hess's equity at $53 billion, while the total enterprise value of the transaction, including debt, is $60 billion.
  • The deal will further diversify Chevron's interests, with Hess's assets including an offshore exploration scheme in oil-rich Guyana.
Business

Invest AD to launch debt fund

Invest AD Blackstone Debt Fund is an SCA-regulated fund.
  • The fund will offer local feeder access to Blackstone’s US and European private credit strategies.
  • The feeder brings Blackstone’s institutional-caliber credit platform to qualified non-US investors, primarily in the UAE.
Business

Nedaa, Dubai Customs ink MoU

MoU to enhance digital solutions for efficiency.
  • The MoU will help to integrate efforts and exchange experiences to improve the level of services provided to various groups and segments of society.
  • The two parties will focus on developing an operational mechanism aimed at ensuring a reliable and effective communication network for Dubai Customs,
Business

Yansab 9M net loss $134 million

The company had posted net earnings of $136m in 9M 2022.
  • In the third quarter of 2023, the company widened its net loss to SAR 161.3 million from SAR 61 million in the year before.
  • Yanbu had decided to distribute cash dividends of 236 million Saudi riyals to shareholders for the first half of the fiscal year 2023.
Business

DP World, TPA ink pact

DP World will operate Dar Es Salaam Port in Tanzania.
  • The main aim is of optimizing the port’s operations to improve transport and logistics services throughout Tanzania and its hinterland.
  • The port will connect to the hinterland of sub-Saharan Africa through a network of roads, highways, railways and dedicated freight corridors.
Business

New CEO appointed in SRC

Majeed Al Abduljabbar will be the CEO from January 1, 2024.
  • Al Abduljabbar has been working in the banking sector for over 15 years, including in the HSBC Bank in London.
  • He also contributed to establishing the Department of Innovative Investment Solutions at SABB (now SAB).
Business

Mobily 9M 2023 profit up 41%

Revenues for the period grew by 7.5 percent year-on-year.
  • Higher top line pushed gross profit up 3.4 percent YoY to SAR 7.1 billion. Operating profit jumped 31.6 percent YoY to SAR 1.97 billion.
  • Reflecting the increase in interest rate, finance charges for the current period increased by 22 percent YoY to SAR 510 million.
Business

EasyLease Q3 revenue $57.66m

It's net profit was AED 26.5 million ($7.21m) in Q3 2023.
  • it's net profit was AED 26.5 million ($7.21m) in Q3 2023, compared to AED 32.73 million ($8.91m) YoY over Q3 2022.
  • Cost-effectiveness, exceptional maneuverability and expedited travel, are driving the popularity of two-wheelers in the UAE.
Business

MAWANI and SGP sign $266m contract

They will establish a logistics zone in King Abdulaziz
  • The zone will provide major logistics services, unique solutions, integrated services, and environmental systems, including warehouses and yards.
  • It will also include a warehouse and re-export area to provide sorting, regional distribution, and value-added operations.
Business

EU okays takeover of Seagen

Pfizer announced in March its deal with Seagen.
  • The European Commission, the bloc's powerful anti-trust authority, said it had "unconditionally approved" the transaction after a market investigation
  • The firm came to major drugmakers' attention with its work on antibody-drug conjugates that are "designed to preferentially kill cancer cells"

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.
Business

Company News

Nokia sees ‘challenging’ 2024

Emirates Islamic profit rises 71%

ADNOC Drilling begins use of hybrid rigs

DIB reports $1.86bn net profit

P&G posts mixed quarterly results

Latest News

Borse Dubai to sell Nasdaq shares

The sale is poised to generate $1.59 billion.

Masdar to buy stake in Terra-Gen

Masdar to buy 50 percent stake in Terra-Gen from ECP.
Business

AstraZeneca to buy Fusion

The $2.4bn deal is its latest expansion into cancer treatments.
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Du, Samsung ink agreement

The two companies have signed a three-year partnership.
  • This collaboration allows for expansion in the business-to-consumer (B2C) and business-to-business (B2B) segments.
  • The companies will also collaborate on reaching the younger generation, with joint participation in events like the Dubai Esports Festival.
Business

AstraZeneca to buy Amolyt for $1bn

It will pay $800 million upfront for the Lyon-based company.
  • The London-listed group added that the transaction would bolster its rare diseases division Alexion.
  • AstraZeneca's share price was up 0.1 percent in early morning London trading following the news.
Business

DP World 2023 profit is $1.5bn

The company's revenue grew 6.6 percent to $18.25 billion.
  • DP World logged a 13 percent decarbonization in Scope 1 and Scope 2 carbon emissions.
  • The cash generated from the company's operating activities rose to $4.5 billion in 2023.