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UAE MoD ink deals worth $517m in first two days of UMEX and SimTEX 2024
ABU DHABI, UAE - On the second day of the sixth edition of UMEX and SimTEX 2024, the accumulated value of deals signed on behalf of the Emirates Ministry of Defense (MoD) reached US$255 million (AED939 million). This was announced during a press conference held on Wednesday by Tawazun Council's...
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AD Ports net profit up
It posted a 189% jump in revenue in Q3 to US$1.15bn. -
Agility posts Q2 earnings of $46m
Net profit was affected by higher interest rate. -
UAE tops MENA startup funding, followed by KSA, Egypt
MENA startups secured US$95 million in July 2023 across 31 deals; equity investments hit US$55 million, boosted by One Moto's US$ 40 million round. -
UAE FDI inflows record highest ever jump in 2022: UN report
The country received the fourth largest number of greenfield projects (997), an 84 per cent increase, behind only India (1008), the UK (1230) and the US (2075), according to the UN Investment Report 2023. UAE's impressive numbers led to an increase of the projects in West Asia by two thirds. -
UAE, Saudi firms eye global acquisitions worth $20bn
Companies like ADNOC, Saudi sovereign fund, and Niu are making significant strides as the two Gulf countries seek to diversify their economies and capitalize on high oil prices. -
Morgan Stanley to cut 3,000 jobs after drop in profit
In the wake of reporting a drop in profit during the first three months of the year, the bank aims to cut down its headcount nearly 4 percent after ending March with more than 82,000 employees, according to reports. The bank suffered a 20 percent profit drop amid a slowdown... -
Middle East witnesses increase in green M&As in 2022
With 283 deals worth $23.8 billion in the first three quarters of 2022, the region’s M&A activity has returned to pre-pandemic levels, a BCG report has highlighted. -
More firms opt for M&As amidst financial distress
As money starts to dry up and subsequent funding rounds get more precarious, companies are expected to experience more acute financial distress and look for any semblance of certainty. This will lead more and more companies to be open to the possibility of M&As, Basta adds. -
DP World H1 net profit $721m
Growth was supported by higher revenue from acquisitions. -
Successful acquirers make insurgent assets unique
Incumbent brands need small-brand deals to recapture top-line growth and boost total shareholder return. While challenging to get right, these acquisitions can deliver substantial value. Success requires a clear understanding of what makes insurgent assets unique, he adds. -
$1.59 bn worth of deals signed on Day 3 of Global Entrepreneurship Conference
On the third day of the Global Entrepreneurship Congress (GEC) in Riyadh, SAR 6 billion ($1.59 bn) worth of agreements were signed and initiatives launched. The Small and Medium Enterprises Financing Guarantee Program “Kafalah" signed a number of agreements with a number of ministries as well as public and private... -
DP World revenue up by 26.3 percent
The adjusted EBITDA growth was 15.3 percent ($3.828 bn) and capital expenditure $1.393bn. -
Saudi National Bank looks to make acquisitions in Europe
Saudi National Bank, with backing from its largest shareholder, the Public Investment Fund, is looking to make big acquisitions in Europe and Asia. -
Major M&A deals in the UAE in 2021
M&As result in savings in manufacturing and service, increased competitiveness, and increased financial capabilities and efficiency, among other things. -
Al Seer Marine net profit $666m
The net profit for the first nine months of 2020 was AED 25.40m. -
ADH revenue, profit up by end of Q3
Rise in net profit attributed to a slew of acquisitions.