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28 March 01:45 PM DEWA’s shareholders nod for AED 3.1bn dividends for H2-23
Dubai – Mubasher: The general assembly of Dubai Electricity and Water Authority (DEWA) has approved the disbursement of AED 3.10 billion, or 6.20 fils per share, for the second half (H2) of 2023. The dividends are set to be paid to eligible …
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28 March 11:11 AM TAQA, Japan’s JERA partner to build power plant in Saudi Arabia
Abu Dhabi – Mubasher Abu Dhabi National Energy Company (TAQA) and Japan’s energy giant JERA signed a power and steam purchase agreement with Saudi Aramco Total Refining and Petrochemical Company (SATORP) to develop a greenfield industrial steam …
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27 March 03:17 PM RAK Ceramics to pay AED 99.5m dividends for H2-23
Abu Dhabi – Mubasher: The general assembly meeting of RAK Ceramics approved cash dividends amounting to AED 99.37 million, equivalent to 10 fils per share, for the second half (H2) of 2023. The UAE-based company highlighted that the full-year …
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27 March 01:49 PM Watania International Holding unveils accumulated losses
Dubai – Mubasher: Watania International Holding has incurred accumulated losses valued at AED 45.90 million as of 31 December 2023, representing 17.67% of the capital, according to a bourse disclosure. The company reported an exceptional loss of …
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27 March 12:58 PM UAB’s net profits exceed AED 255m in 2023
Abu Dhabi – Mubasher: The United Arab Bank (UAB) registered AED 255.30 million in net profit during 2023, higher than AED 154.72 million in 2022. Total interest income and income from Islamic financing products hit AED 921.61 million last year, up …
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27 March 11:48 AM Waha Capital’s AGM greenlights cash dividends for 2023
Abu Dhabi – Mubasher: The shareholders of Waha Capital approved the distribution of a cash dividend of 10 fils per share, on 26 March 2024, for 2023. The dividend includes a 1.50 fils per share special dividend, according to a press release. At …
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26 March 03:31 PM Fitch affirms Ajman Bank’s rating at 'BBB’; outlook stable
Dubai – Mubasher: Fitch Ratings asserted Ajman Bank's long-term issuer default rating (IDR) at 'BBB+', with a stable outlook and viability rating (VR) at 'b+', according to a press release. Mustafa Al Khalfawi, Group CEO of Ajman Bank, said: "We …
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26 March 02:37 PM ADIB partners with Tesla to bolster EV financing
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) inked an affiliate partnership agreement to provide financing to Tesla car buyers at affordable profit rates starting at 1.79%. Through ADIB’s electrical car financing programme VOLT, the lender …
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26 March 01:45 PM ADNIC’s annual general meeting approves AED 256.5m dividends
Abu Dhabi – Mubasher: Abu Dhabi National Insurance Company (ADNIC) approved the distribution of AED 256.50 million as cash dividends for 2023, according to a press release. Following the annual general meeting, the company is set to pay AED 0.45 …
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26 March 11:56 AM E7 Group boosts security solutions in Middle East
Abu Dhabi – Mubasher: E7 Group inked three security solutions contracts at a total value of AED 12.90 million to expand its network in the UAE and Middle East, according to a press release. The one-year agreements cover the manufacture and supply …
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26 March 11:10 AM Dubai Investments’ real estate unit launches AED 300m residential project
Dubai – Mubasher: Dubai Investments Real Estate (DIR), the real estate arm of Dubai Investments, has launched an AED 300 million residential project in Dubai’s Jumeirah Village Circle (JVC). Named Violet Tower, the residential project features a …
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25 March 02:49 PM National Industries reports KWD 47m consolidated profit in 2023
Mubasher: The consolidated net profit after tax and directors’ remuneration of National Industries Group Holding (NIG) surged to KWD 46.77 million in 2023 from SAR 33.92 million a year earlier. Revenues from sales and contracts with customers …
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25 March 12:28 PM Macro Group secures EGP 65m loan from FABMISR
Cairo – Mubasher: The board members of Macro Group Pharmaceuticals - Macro Capital agreed to renew short-term financing from First Abu Dhabi Bank Misr (FABMISR), an Egypt-based unit of the ADX-listed FAB. The board greenlighted the EGP 65 million …
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25 March 11:04 AM GFH’s shareholders elect new board, ratify dividends
Mubasher: GFH Financial Group’s annual general meeting (AGM) has elected a new board of directors for the next three years, according to a bourse filing. The new board include Hisham Ahmad Alrayes, Ali Murad Ali, Darwish Abdulla AlKetbi, Ghazi …
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24 March 03:32 PM du unveils key appointments
Dubai – Mubasher: Emirates Integrated Telecommunications Company (du) reappointed Malek Al Malek as the Chairman for the board’s new term. The board members announced, on 21 March 2024, Ahmed Julfar as the Vice Chairman, according to a bourse …
Zayed Alzayani, Chairman of Roebuck
24 March 02:52 PM GFH names Alzayani as Chairman of London-based Roebuck
Mubasher: GFH Financial Group has appointed Zayed Alzayani as board Chairman of its subsidiary Roebuck, a London-headquartered Pan-European real estate logistics investor and asset manager. Alzayani has four decades of experience spanning senior …
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24 March 01:58 PM ADNOC Drilling elects Chairman, Vice Chairman
Abu Dhabi – Mubasher: The board members of ADNOC Drilling Company elected Sultan Ahmed Al Jaber as the Chairperson of the company. Abdulmunim Saif Alkindi was elected as the Vice Chairperson of the board of directors, according to a bourse …
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24 March 12:01 PM AD Ports acquires 60% ownership in Georgia-based Tbilisi Dry Port
Abu Dhabi – Mubasher: AD Ports Group signed a purchase agreement with Inveco LLC to acquire a 60% stake in the Tbilisi Dry Port, a new custom-bonded and rail-connected intermodal logistics hub in Georgia. The ADX-listed group will initially invest …
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21 March 01:43 PM Amanat names Ireland as new CEO
Dubai – Mubasher: Amanat Holdings appointed John Ireland, who has been serving as the Acting CEO since March 2023, as its new CEO, according to a press release. The Chairman of Amanat, Shamsheer Vayalil, said: “Under John’s guidance Amanat has …
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21 March 01:15 PM EFG Hermes leads $429m IPO of Parkin for DFM listing
Mubasher: EFG Hermes, an EFG Holding Company, concluded its advisory on the $428.70 million initial public offering (IPO) of Parkin on the Dubai Financial Market (DFM), according to a press reelase. EFG Hermes acted as a joint bookrunner on the …
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21 March 11:29 AM Emirates Stallions Group acquires 40% additional stakes in 2 local interior design firms
Abu Dhabi – Mubasher: Emirates Stallions Group (ESG), a multifaceted group in manpower solutions, has acquired an additional 40% stake in each of two leading UAE interior design firms, Vision Factory and Decovision. The recent transactions …
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20 March 02:14 PM Tabreed unveils higher cash dividends for 2023
Dubai – Mubasher: National Central Cooling Company (Tabreed) has announced a record-high dividend payment of 15.50 fils per share for 2023, according to a press release. This represents an increase of 15% over the previous year, reflecting …
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20 March 12:53 PM Al Ansari Financial Services to pay AED 300m dividends for H2-23
Dubai – Mubasher: The annual general assembly of Al Ansari Financial Services approved the board’s recommendation to distribute a cash dividend of 4 fils per share for the second half (H2) of 2023. The DFM-listed company will pay out a dividend of …
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20 March 11:00 AM Eshraq Investments shifts to consolidated loss in 2023
Abu Dhabi – Mubasher: Eshraq Investments swung to a consolidated loss in 2023, recording a net loss of AED 545.10 million, versus a net profit of AED 589.79 million a year earlier. Revenues from commercial operations recorded AED 31.61 million …
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19 March 04:57 PM Masdar to acquire 50% stake in US-based Terra-Gen
Abu Dhabi – Mubasher Abu Dhabi Future Energy Company (Masdar) plans to acquire a 50% stake in Terra-Gen Power Holdings II, LLC, one of the largest independent renewable energy power producers in the US, from Energy Capital Partners (ECP). Abu …