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25 April 10:33 PM

UAE news

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04:18 PM Americana Restaurants’ general assembly nod for AED 661m dividends
Mubasher: Americana Restaurants International, also listed on the Abu Dhabi Securities Exchange (ADX), announced the shareholders’ approval for cash dividends valued at AED 661.25 million  The general assembly meeting greenlighted dividends of AED …
Cash Dividends
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04:00 PM Emirates NBD’s profits leap 67% in Q1-24
Dubai – Mubasher: Emirates NBD recorded an annual hike of 67% in net profit to AED 6.71 billion during the first quarter (Q1) of 2024, versus AED 6.02 billion. Total operating income amounted to AED 10.66 billion as of 31 March 2024, up from AED …
Banking and Finance
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02:34 PM DFM, ADX close Thursday in red zone
UAE – Mubasher: The main index of Dubai Financial Market (DFM) lost 3.99 points (0.09%)on Thursday and ended the trading session lower at 4,163.34 points. A total of 223.65 million shares were exchanged during the session at a value of AED 592.08 …
Trading Activities
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01:55 PM UAE’s civil aviation authority approves 1st vertiport
UAE – Mubasher: The General Civil Aviation Authority (GCAA) has granted the operational approval for the country's first vertiport. The use of the vertiport will start at the DRIFTx event in Abu Dhabi, according to the Emirates News Agency (WAM). …
Event
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01:45 PM Investcorp launches $1bn platform to anchor business in GCC, China
Mubasher: Bahrain-based alternative asset manager Investcorp partnered with China Investment Corporation (CIC) to launch Investcorp Golden Horizon, with a target size of $1 billion. The platform aims to invest in high-growth companies across …
Companies Investments
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12:38 PM CBD logs AED 701m profits in Q1-24; total income up 11%
Dubai – Mubasher: The Commercial Bank of Dubai (CBD) posted higher net profits at AED 700.98 million in the first quarter (Q1) of 2024, versus AED 575.22 million in Q1-23. Total income amounted to AED 1.37 billion in Q1-24, an annual rise of …
Financial Results
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12:25 PM UAE, Kenya forge collaboration in mining, technology with MoU
UAE – Mubasher: The Ministry of Investment of the UAE has signed an investment memorandum of understanding (MoU) with Kenya’s Ministry of Finance and National Treasury for collaboration in the mining and technology sectors. The MoU allow for …
Macroeconomics
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11:21 AM Emirates Islamic’s net profits jump to AED 811.5m in Q1-24
Dubai – Mubasher: The net profits of Emirates Islamic Bank hiked by 35% year-on-year (YoY) to AED 811.44 million in the first quarter (Q1) of 2024 from AED 600.86 million. Total operating income amounted to AED 1.34 billion in Q1-24, an annual …
Financial Results
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10:56 AM Artech Lighting extends reach to MENA with new UAE Office
UAE – Mubasher: UK-based Artech Lighting has opened a new office in Dubai to support expansion in the Middle East. The new office will help the company secure more projects in the GCC region, creating new jobs to serve its growing client base, …
Companies Investments
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09:51 AM Agthia’s shareholders greenlight annual cash dividends
Abu Dhabi – Mubasher: The shareholders of Agthia Group approved the board’s recommendation for a cash dividend payment of 18.50 fils per share for 2023, according to a press release. This is in addition to bonus shares at the rate of 5% of share …
Cash Dividends
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24 April 06:56 PM ADIB records 32% annual surge in Q1-24 net profit; revenue hits AED 2.5bn
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) achieved a net profit after tax worth AED 1.45 billion during the first quarter (Q1) of 2024, signalling a 32% increase from AED 1.10 billion in Q1-23. The UAE lender generated revenues of AED …
Financial Results
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24 April 05:32 PM E7 Group’s shareholders nod for share split
Abu Dhabi – Mubasher: E7 Group’s assembly general meeting (AGM) has sanctioned the division of each issued share, previously valued at AED 2.50, into 10 shares, each valued at AED 0.25. The company’s share capital has been set at AED 524.81 …
General Assembly
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24 April 04:27 PM e&’s shareholders greenlight 3-year progressive dividend policy
Abu Dhabi – Mubasher: The annual general meeting (AGM) of e& approved a new progressive dividend policy with an annual incremental increase of AED 0.03 for the years 2024, 2025, and 2026. The raise will bring the dividend per share (DPS) to AED …
General Assembly
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24 April 03:14 PM RAK Ceramics elects Chairman, Vice Chairman
Abu Dhabi – Mubasher: RAK Ceramics elected Saqr bin Saud bin Saqr Al Qasimi as the Chairman of the board. Fawaz Sulaiman Al Rajhi as the Vice Chairman was announced as the Vice Chairman, according to a bourse disclosure. The board members of RAK …
Corporate Actions
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24 April 02:47 PM UAE stock markets show varied performance on Wednesday
UAE – Mubasher: The main index of Dubai Financial Market (DFM) closed Wednesday’s trading session higher by 1.01 points (0.02%) at 4,167.33 points. The turnover stood at AED 546.19 million through the exchange of 178.97 million shares. Gulf …
Trading Activities
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24 April 01:50 PM ARA Real Estate unveils AED 22bn project in Abu Dhabi
UAE – Mubasher: ARA Real Estate Development, a subsidiary of Core Holding, has revealed an AED 22 billion gated community project in Abu Dhabi. Named Arabian Hills Estate, the project is planned to be built on 244 million square feet, according to …
Real estate
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24 April 01:08 PM AD Ports earmarks $379m investments for Angolan port
Abu Dhabi – Mubasher: AD Ports Group penned agreements with Unicargas and Multiparques to serve the facility and the broader Angolan logistics market AD Ports will acquire an 81% stake in a joint venture (JV) that will operate the terminal in …
Companies Investments
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24 April 12:46 PM CBUAE’s Al Etihad Payments launches platform to strengthen Emirati financial services sector
UAE – Mubasher: Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), has signed a partnership with Core42, a subsidiary of artificial intelligence (AI) technology company G42. The partnership aims to start the …
Banking and Finance
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24 April 11:54 AM DIB sees higher net profits in Q1-24 at AED 1.6bn
Dubai – Mubasher: The net profits of Dubai Islamic Bank (DIB) surged to AED 1.66 billion in the first quarter (Q1) of 2024 from AED 1.50 billion in Q1-23. DIB registered a total net income amounting to AED 5.60 billion in Q1-24, higher by 27% than …
Financial Results
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24 April 11:50 AM ADQ acquires 49% of Australia’s Plenary Group
UAE – Mubasher: ADQ, an Abu Dhabi-based investment and holding company, has entered into a partnership agreement with Plenary Group, an Australian investor and developer of public-private infrastructure projects. Under the agreement, ADQ will …
Companies Investments
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24 April 10:58 AM Sawaeed Holding names Chairman, Vice Chairman
Abu Dhabi - Mubasher: Sawaeed Holding appointed Abdulla Rashed Mohammad Rashed Al Rashdi as the Chairman of the board. The board members also named Obaid Helal Obaid Mohammed Al Kaabi as the Vice Chairman, according to a bourse disclosure. In the …
Management Decisions
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24 April 10:12 AM Bokra secures $4.6m funding round to foster wealth management in MENA
Cairo – Mubasher: Egypt-based fintech Bokra has closed a $4.60 million pre-Seed round led by DisrupTech Ventures and SS Capital, according to a press release. The fintech will use the funding to reshape wealth management in the MENA region by …
Companies Investments
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23 April 04:49 PM Dubai Chamber attracts 9 multinational companies with AED 304bn market value
UAE – Mubasher: Dubai Chamber of Digital Economy, operating under Dubai Chambers, attracted nine multinational companies (MNCs) with a market value exceeding AED 304 billion ($82.84 billion) in 2023. This aligns with the emirate’s growing strategy …
Companies Investments
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23 April 03:55 PM du launches du Pay to reinforce fintech solutions in UAE
Dubai – Mubasher: Emirates Integrated Telecommunications Company (du) has launched du Pay to foster the UAE’s cashless economy and enhance its financial inclusion, according to a press release. Licensed by the Central Bank of the UAE (CBUAE), du …
Companies Investments
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23 April 02:51 PM UAE pens MoU with 3 countries for Development Road project
UAE – Mubasher: The UAE has signed a memorandum of understanding (MoU) with Iraq, Qatar, and Türkiye for cooperation on the Development Road project. The project seeks to create a sustainable economy bridging East and West, increase international …
Global Economy