Emaar Properties posts 23 percent rise in H1 net profit to $3.5 billion
Founder Mohamed Alabbar said the results reflected Emaar's disciplined approach and Dubai's continued economic expansion, adding that the company would...
Business
Business
Alphabet posts first $100 bn quarter
The growth was powered by cloud division buoyed by AI
- The tech giant's revenues jumped 16 percent year-on-year to $102.3 billion in the third quarter, beating analyst expectations
- "Alphabet had a terrific quarter, with double-digit growth across every major part of our business," CEO Sundar Pichai said
Business
Nvidia to take stake in Nokia
Nvidia share price soars 20%.
- It said it would issue more than 166 million new shares, for which Nvidia would pay $6.01 per share.
- Under the partnership, Nokia "intends to increase its presence in the AI and cloud market with data center aligned networking solutions."
Business
Nestle to cut 16,000 jobs
The company's shares shoot up 8%.
- "The world is changing, and Nestle needs to change faster," chief executive Philipp Navratil, who took the reins of the multinational in early September, said in a statement.
- The company published nine-month figures showing sales down by 1.9 percent to 65.9 billion Swiss francs ($83 billion).
Business
Multiply Group buys stake in ISEM
Multiply Group will hold 60.8% of ISEM.
- Peninsula Capital and minority investors will own the remaining 39.2 percent.
- The deal represents an expansion into packaging by Multiply Group, establishing the Group’s fifth consumer-focused vertical.
Business
Bosch to cut 13,000 jobs
This is a blow to Germany's ailing car sector.
- The cuts, all of which will take place in Germany, represent about 10 percent of Bosch's total workforce in the country.
- Bosch said the layoffs were needed to help make annual savings of 2.5 billion euros ($2.9 billion) in the group's automotive unit.
Business
Aldar ups stake in Aldar Estates
Acquires Modon Holding’s 17.45% stake
- Aldar Estates has become the region’s largest integrated real estate services company with over AED3 billion worth of active contracts.
- The platform manages more than 155,000 residential units, which is a 15 percent increase in the past two years.
Business
Oracle shares up 35%
Huge AI contracts lead to the surge.
- About 40 minutes into trading, shares were at $337.02, up nearly 40 percent, lifting the company's market valuation to around $950 billion.
- The surge will significantly boost the wealth of Oracle Chairman Larry Ellison, who could potentially surpass Elon Musk as the world's richest person.
Business
ADCB to raise $1.66bn
The rights issue aimed at boosting growth.
- The rights issue will increase ADCB's issued capital from AED 7.32 billion to AED 7.91 billion by issuing up to 592.2 million new shares.
- The new shares will be priced at AED 10.3 each, a 30% discount to ADCB’s closing share price on September 4, 2025.
Business
EGA H1 revenue $4.11bn
Net profit before GAC $445 million.
- The company's primary hot metal production remained steady at 1.34 million tons.
- EGA sold 1.37 million tons of cast metal to over 400 customers in more than 50 countries, up from 1.31 million tons in H1 2024.
Business
Borouge to pay $660m H1 dividend
Its net profit for H1 was $474 million.
- The company also reaffirmed its intention to pay a total dividend of 16.2 fils per share for 2025.
- Since its June 2022 IPO, Borouge shareholders have approved $4.24 billion in dividends.
Emaar Properties posts 23 percent rise in H1 net profit to $3.5 billion
Founder Mohamed Alabbar said the results reflected Emaar's disciplined approach and Dubai's continued economic expansion, adding that the company would...
Business
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2PointZero posts profit surge
Growth driven by merger consolidation.
- Revenue jumps to $2.7 billion as mergers and acquisitions drive expansion across multiple sectors and geographies.
- During the quarter, the company acquired a 60.8% stake in ISEM Packaging Group for $192 million.
Business
Mashreq Q1 profit rises
Total revenue increased 10% year-on-year.
- Mashreq posted first-quarter net profit growth as revenue, lending and deposits expanded strongly year-on-year.
- Non-interest income rose sharply, highlighting diversification as regional geopolitical uncertainty weighed on operating conditions.
Business
TECOM profit climbs
High occupancy across assets boosts earnings.
- TECOM lifted recurring profit as occupancy, rental rates and cost discipline strengthened margins.
- Commercial and industrial portfolios remained nearly full, supporting resilient cash flow and customer retention.