UAB net profit up by 50% for H1

• Total income rose by 24 percent YoY to AED 374 million.
• The increase in net profit reflects significant growth in total assets—up 11 percent from December 2024—and the Bank’s disciplined approach to risk management.

ADNOC shifts OMV stake to XRG

• This transfer, which is subject to regulatory approvals, is aligned with ADNOC’s strategy to consolidate its international growth investments under XRG.
• ADNOC is also progressing with preparation for the proposed establishment of Borouge Group International, which is set to be a top-four global polyolefins producer.

SIB H1 net profit $189m

The $10 mn bag: Original Birkin smashes records at Paris auction

• The modern design classic, owned by a Paris-based handbag collector, sparked a telephone bidding war up to seven million euros, with the final sale price set at 8.58 million.
• The final buyer, who eclipsed eight other rivals, was a "private collector from Japan", the auction house added, without giving further details.

TSMC’s H1 revenue up 40 percent

‘Wadeem’ sold out for $1.49bn

• The strong interest in Wadeem is testament to individual and investor confidence in our capabilities, said Bill O’Regan, Group CEO of Modon Holding.
• The launch reinforces Hudayriyat’s position among Abu Dhabi’s most desirable residential destinations, said Ibrahim Al Maghribi, CEO of Modon Real Estate.

Tesla Q2 sales down 13.5%

• The sales figures released Wednesday, which are global, reflect the more contested nature of the EV market, which Tesla once dominated.
• Musk's political activism on behalf of right-wing figures has also made the company a target of boycotts and demonstrations, weighing on sales.

TomTom cuts 300 jobs

• The Amsterdam-based company was an early pioneer of digital navigation in cars, but has been struggling as people no longer use a separate device to move around..
• TomTom announced in a statement that it was "realigning its organization as it embraces artificial intelligence", resulting in "organizational changes".

Aldar nets $953m in sales at Fahid

• Nearly 42 percent of buyers are under the age of 45, signaling growing demand for luxury wellness-focused living among younger demographics.
• Notably, 67 percent of buyers are first-time Aldar customers, demonstrating Aldar’s expansive reach and the appeal of the Group’s thoughtfully curated destinations.

Qualcomm to Alphawave for $2.4 bn

• Last week, UK fintech Wise, specializing in international money transfers, said it plans to shift its primary listing from London to New York.
• For California-based Qualcomm, the acquisition will help boost its AI infrastructure amid soaring demand for the technology.