BEIJING, CHINA – Chinese regulators will ban the chairman of property giant Evergrande from the securities market for life on grounds of financial fraud, a subsidiary of the company said on Monday. Heavily indebted Evergrande has become a potent symbol of the years-long crisis in China's property market, a crucial pillar...
ADCB, EIH sign agreement
ADCB to sell 80 percent stake in ADCP to Nine Yards Plus.Al Seer Marine receives new very large gas carrier, fleet size rises to 20
ABU DHABI, UAE - Al Seer Marine, a subsidiary of Abu Dhabi-based International Holding Company, has announced the takeover of the very large gas carrier (VLGC) North Gas. This strategic move marks the second VLGC delivery under the US$134 million (AED495 million) deal signed by ABGC DMCC, a joint venture...Securiguard Middle East renews contract
Firm won $109 million contract extending over four years.
EIH buys stake in Al Ain Pharmacy
Move aligns with EIH's aim to diversify sources of investment.
ADNOC L&S boosts barge fleet
With the latest acquisition, the firm now owns 39 JUBs.
Lavoie buys e-bike firm VanMoof
The cost of the acquisition has not been specified.
stc Group begins work in Europe
stc’s subsidiary TAWAL buys assets in eastern Europe.
EasyLease revenue grows by 37.5%
The company logged a net profit of $4.4m.
Siemens Energy shares fall due to technical problems at wind turbine unit
FRANKFURT, GERMANY - Shares in Siemens Energy plummeted on Friday after the company warned that technical problems at its wind turbine unit were worse than previously thought. The group scrapped its full-year profit target and said it was setting aside more than US$1.1 billion (1 billion euros) over the coming years...
Siemens posts Q4 profit of $3bn
Firm posts FY 2021-22 net profits of around US$4.6 billion.
SALIC, Minerva Foods buy Australian Lamb Company
ALC is one of the largest meat producers in Australia.DEWA to pay one-time cash dividend
It received a dividend of $553m from its subsidiary, EMPOWER.
Germany seizes Rosneft’s subsidiaries
Berlin took control of the German operations of Russian oil firm Rosneft to secure energy supplies which have been disrupted after Moscow invaded Ukraine. Rosneft's German subsidiaries, which account for about 12 percent of oil refining capacity in the country, were placed under trusteeship of the Federal Network Agency, the...Thai SC dismisses Toyota appeal
The court dismisses appeal over $270m import tax bill.
JCDC, Cruise Saudi to develop Jeddah Central Project design
The Marina and terminal will contribute to transforming Jeddah’s coastline.OIFL to pay GMTN interest
The Ooredoo subsidiary said it will pay $9.3 million on June 22.ADDC, Abu Dhabi University join hands for energy innovations
The Abu Dhabi Distribution Company (ADDC), a subsidiary of Abu Dhabi National Energy Company (TAQA Group), has signed a Memorandum of Understanding (MoU) with Abu Dhabi University (ADU) to accelerate technical, societal and environmental solutions in the energy sector through research and development.
ADH invests $100m in DEWA
Abu Dhabi-based Alpha Dhabi Holding is a subsidiary of the IHC.
Telenor subsidiary sale approved
Myanmar junta Okayed the sale to Lebanese conglomerate M1 Group.
Al Arabia sets up e-commerce subsidiary
The subsidiary has a capital standing at SAR 50,000 and will offer multi-vendor business-to-consumer (B2C) products.PIF opens 3 overseas firms
The new companies’ offices are in London, New York, and Hong Kong.
Al Tamouh, Al Qudra merger okayed
International Holding Company has formally agreed to the merger.
Multiply Group starts trading on ADX
The IHC subsidiary starts trading under the ticker MULTIPLY.
Maaden of KSA sets up a fertilizer terminal in Africa
Saudi Arabian Mining Co., has established a fertilizer terminal in the African state of Malawi through its subsidiary, the Meridian Group.UAE’s ADNOC Drilling to list on Abu Dhabi Securities Exchange
ADNOC Drilling will list on Abu Dhabi Securities Exchange on October 3. The company will list under the trading symbol ADNOCDRILL.
Al Mazaya’s subsidiary to sell Saudi firm stake
First Dubai Real Estate Development Co. board cleared the $51.4m deal.
Mrs Bectors subsidiary comes up in UAE
The new company, Mrs Bectors Food International, was incorporated on September 14.
IHC to become Abu Dhabi’s most valuable firm after unit lists
The company reported a first-quarter profit of Dh1.5 billion, up from Dh112.2 million a year earlier Its shares rose 15 percent after the listing of a subsidiary company Abu Dhabi’s firm, International Holding Company (IHC), vaulted in value to become its most valuable listed company when its shares rose nearly...
