Air Arabia 2023 net profit $408m
The firm recorded a 27 percent rise in profit compared to 2022.
Business
AlUla signs pact with Six Senses
Business
stc Group posts 9-month revenue
Business
Mulk, Ajman Holding form JV
Business
Business
Airbus earns record net profit
The company delivered 661 aircraft last year.
- Net profit rose one percent to 4.2 billion euros ($4.5 billion) as Airbus delivered 661 aircraft last year despite original plans to hand over 720 to clients
- Airbus had chopped production during the pandemic when airlines were forced to halt most operations due to travel restrictions
Business
NBQ 2022 net profit $99m
Umm al Qaiwain, UAE-- National Bank of Umm Al Qaiwain (NBQ) has reported a net profit of AED364.52 million ($99...
- Total assets were at AED 13.605 billion, up 3.5 percent compared to December 2021, with a deposits-to-advances ratio of 126 percent.
- The bank has maintained high liquidity with a stable resources-to-advances ratio of 159.21 percent as of 31 Dec 2022.
ADNIC 2022Â profit is $103mn
The company's underwriting income was $133 million.
- The company’s gross written premiums increased by 20.1 percent to $1.39 billion compared to $1.16 billion in 2021
- Its net underwriting income was $133 million, compared to $134 million in the previous year in the previous year
Business
Nakilat 2022 profit surges 6.3%
The earnings per share amounted to QR 0.26.
- The earnings per share (EPS) amounted to QR 0.26 as of Dec. 31, 2022 compared to EPS of QR 0.24 for the same period in 2021
- The Board of Directors have proposed a cash dividend of 13 percent of the nominal share value - 0.13 Qatari Riyal per share
Business
Air Arabia 2022 net profit $326m
FY'22 turnover rose to $1.4 billion, up 65 percent YoY.
- The average seat load factor – or passengers carried as a percentage of available seats – for the full year stood at a high 80 percent.
- Air Arabia’s Board of Directors proposed a dividend distribution of 15 percent of share capital, which is equivalent to 15 fils per share.
Business
Emirates Steel Arkan 2022 profit $138.44m
Revenue in fourth quarter of 2022 was $630m.
- The Group’s net profit for the full year 2022 was AED508.5 million compared to a pro-forma loss of AED636.7 million in financial year (FY) 2021.
- The Group’s 4Q22 EBITDA was AED300 million, showing a continuing growth on the AED269 million achieved in the third quarter (3Q) of 2022.
Business
DIB raises $1bn from sukuk
It had raised $750m through the sale of its debut sukuk in Nov 2022.
- The sukuk was oversubscribed three times, largest issuance by a Middle East financial institution in the international capital markets since June 2021.
- It is also the largest-ever sustainable issuance by a Middle East Financial Institution.
Business
DEWA, ENOC sign MoU
Aim is to develop hydrogen-based mobility pilot project.
- The MoU between DEWA and ENOC was signed at the World Government Summit 2023 in Dubai.
- The project will utilize DEWA's existing green hydrogen production facility and ENOC's knowledge of the fuel market.
Business
Empower 2022 net profit $762m
Firm has proposed dividend of S$115 million for 2nd half 2022.
- The quality and sustainability of its services and advanced infrastructure has made it one of the world's largest player in the district cooling industry.
- This performance reflects the confidence in Empower by its customers and stakeholders, and the economic boom of Dubai.
Business
ADNOC Drilling profit rises 33%
The revenue climbed to $2.67 billion in 2022.
- The company stated in a regulatory filing that the addition of more rigs to its operating fleet, which currently number 115 rigs, was a major factor in its success
- It provided an optimistic forecast for 2023, with sales expected to range between $3 billion and $3.2 billion, indicating up to 20 percent annual growth
Air Arabia 2023 net profit $408m
The firm recorded a 27 percent rise in profit compared to 2022.
Business
Company News
AlUla signs pact with Six Senses
Business
stc Group posts 9-month revenue
Business
Mulk, Ajman Holding form JV
Business
Latest News
Fashion giant Shein to go public
Shein was valued at $66 billion earlier this year.
JABEEN signs contracts with Retal, Abyatna
The firms will build primary and secondary infrastructure works.
Business
Most Read
Business
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
Business
Naufar partners with MEEZAÂ
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
Business
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.