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09 May 01:14 AM

UAE news

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8 May 04:33 PM NMDC posts AED 641m consolidated profit in Q1-24
Abu Dhabi – Mubasher: National Marine Dredging Company (NMDC) logged a consolidated net profit of AED 641.06 million in the first quarter (Q1) of 2024, a surge from AED 303.32 million in the same period a year earlier. Revenues from contracts with …
Financial Results
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8 May 03:57 PM Amlak Finance’s net profit hits AED 27m in Q1-24
Dubai – Mubasher: Amlak Finance posted a net profit of AED 27 million during the first quarter (Q1) of 2024, up from AED 14 million in the same quarter a year earlier. The company’s total revenues declined to AED 68 million in Q1-24 from AED 74 …
Financial Results
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8 May 02:46 PM Air Cairo chooses Seera’s Almosafer as exclusive agent in Saudi Arabia
Riyadh – Mubasher: Egypt’s hybrid national airline Air Cairo has partnered with the Saudi travel company Almosafer, a subsidiary of Seera Group Holding, to become the exclusive general sales agent (GSA) of Air Cairo in Saudi Arabia, according to a …
Global Economy
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8 May 02:46 PM UAE stock markets close higher on Wednesday
UAE – Mubasher: The main index of Dubai Financial Market (DFM) ended Wednesday’s trading session higher by 37.06 points (0.89%) at 4,193.35 points. The DFM’s turnover hit AED 348.98 million through the exchange of 151.14 million shares. Emaar …
Trading Activities
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8 May 02:11 PM Mastercard restructures leadership roles in MENA
Riyadh - Mubasher: Payments giant Mastercard announced restructuring its regional operations, appointing new division leaders as it aims to step up growth across the Middle East and North Africa (MENA). This initiative forms part of the company's …
Global Economy
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8 May 11:43 AM Dana Gas’ consolidated profit dips to $38m in Q1-24
Abu Dhabi – Mubasher: Dana Gas posted a $38 million (AED 139 million) consolidated net profit in the first quarter (Q1) of 2024, down from $50 million (AED 183 million) in the same quarter a year earlier. Gross revenues declined to $97 million …
Financial Results
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8 May 11:21 AM Beltone, UAE’s Comera partner to boost digitalisation in Egypt
Cairo – Mubasher: Beltone Holding has signed a strategic partnership agreement with Abu Dhabi-based Comera Financial Holding to bolster digital transformation and customer experience in Egypt. Under the agreement, the two companies will join …
Banking and Finance
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8 May 10:28 AM ADNOC L&S logs 34% YoY profit hike in Q1-24
Abu Dhabi – Mubasher: ADNOC Logistics & Services (ADNOC L&S) reported a 34% year-on-year (YoY) leap in net profit to $194 million (AED 712 million) in the first quarter (Q1) of 2024 from $145 million (AED 533 million). Revenues soared 42% YoY to …
Financial Results
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7 May 05:05 PM Mubadala invests in Australia's largest urea plant
UAE – Mubasher: Mubadala Investment Company and US-based Global Infrastructure Partners have injected AUD 6.40 billion ($4.20 billion) in a major urea fertilisers plant in West Australia. The project, implemented by Perdaman, an Australian …
Companies Investments
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7 May 03:54 PM UAE card payments market to exceed $200bn in 2028 – GlobalData
UAE - Mubasher: The card payments market in the UAE is expected to grow at a compound annual growth rate (CAGR) of 10.60% between 2024 and 2028, according to a report by GlobalData. The report forecast the market to reach a value of AED 764.10 …
Banking and Finance
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7 May 03:15 PM FABMISR opens 2 new branches in Giza, Cairo
Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), an Egypt-based unit of the ADX-listed FAB, has inaugurated two new branches in Egypt. The new branches, the bank’s 66th and 67th in the country, are located on El-Haram Street in Giza …
Companies Investments
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7 May 02:44 PM Emirates inks MoUs to boost tourism in Malaysia, Turkey; A350 network expanded
UAE – Mubasher: Air travel giant Emirates has signed memorandums of understandings (MoUs) with Tourism Malaysia, Türkiye Tourism Promotion and Development Agency (TGA), and the Abu Dhabi Chamber of Commerce. The three MoUs were signed on the first …
Companies Investments
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7 May 02:34 PM UAE stock markets close Tuesday in green
UAE – Mubasher: The main index of Dubai Financial Market (DFM) ended Tuesday’s trading session higher by 0.44 points (0.01%) at 4,156.29 points. The DFM’s turnover hit AED 262.85 million through the exchange of 162.27 million shares. Emaar …
Trading Activities
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7 May 02:10 PM NCTH sees higher net profits in Q1-24
Abu Dhabi – Mubasher: National Corporation for Tourism and Hotels (NCTH) logged net profits after tax valued at AED 19.57 million in the first quarter (Q1) of 2024, versus AED 19.16 million in Q1-23. NCTH generated revenues amounting to AED 171.72 …
Financial Results
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7 May 02:00 PM Fitch Ratings affirms Bank of Sharjah’s IDR at 'BBB+'; outlook stable
Abu Dhabi – Mubasher: Fitch Ratings has affirmed Bank of Sharjah’s long-term issuer default rating (IDR) at 'BBB+' with a stable outlook. The rating agency upgraded the bank’s viability rating (VR) to ‘b-‘ from 'ccc+', according to a press …
Banking and Finance
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7 May 01:36 PM Empower’s net profits fall to AED 165.5m in Q1-24
Dubai – Mubasher: The net profits of Emirates Central Cooling Systems Corporation (Empower) declined to AED 165.50 million in the first quarter (Q1) of 2024 from AED 167.35 million in Q1-23. Empower posted revenues amounting to AED 537.72 million …
Financial Results
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7 May 12:17 PM DAMAC Properties expands in Beijing, Singapore
UAE - Mubasher: DAMAC Properties has inaugurated new offices in Beijing and Singapore. The new openings come in line with the company’s commitment to investment and expansion in the Asia–Pacific region (APAC), according to a press release. Abbas …
Companies Investments
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7 May 11:28 AM Masdar to expand green hydrogen projects in Egypt’s SCZONE, Mediterranean coast
By: Mahmoud Gamal UAE – Mubasher: Abu Dhabi Future Energy Company (Masdar) is planning to expand its green hydrogen production in Egypt’s Suez Canal Economic Zone (SCZONE) and along the Mediterranean coast, Mohammad Abdelqader El-Ramahi, Chief …
Global Economy
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7 May 11:05 AM IHC unveils 87.5% higher profits in Q1-24, AED 5bn share buyback plan
Abu Dhabi – Mubasher: International Holding Company (IHC) recorded 87.60% higher net profits after tax at AED 8.01 billion in the first quarter (Q1) of 2024, compared to AED 4.27 billion in Q1-23. IHC generated revenues amounting to AED 19.28 …
Financial Results
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7 May 09:44 AM ADNOC Gas announces 15% higher revenues in Q1-24, $13bn investment plans
Abu Dhabi – Mubasher: ADNOC Gas posted a 15% year-on-year (YoY) surge in revenues to $6.01 billion during the first quarter (Q1) of 2024, compared to $5.22 billion. The adjusted net income hiked by 21% YoY to $1.18 billion in Q1-24, while the …
Financial Results
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7 May 08:37 AM Americana Restaurants records 52% lower profits to owners in Q1-24
Mubasher: Americana Restaurants International, listed on the Abu Dhabi Securities Exchange (ADX) as well, logged net profits attributable to the owners valued at $28.02 million in the first quarter (Q1) of 2024. The quarterly net profits plummeted …
Financial Results
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6 May 04:01 PM flydubai records growth in passenger traffic; fleet retrofit project unveiled
UAE – Mubasher: flydubai witnessed growth in passenger numbers since the beginning of 2024, according to a press release. It carried almost five million passengers between 1 January and 28 April 2024, an annual rise of 13% compared to the same …
Companies Investments
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6 May 03:38 PM Emaar The Economic City partners with Aramex to endorse logistics sustainability in KAEC
Mubasher: Saudi Arabia’s Emaar The Economic City has teamed up with the UAE-based Aramex to advance sustainable logistics solutions in King Abdullah Economic City (KAEC), according to a press release. The agreement aims to minimise environmental …
Companies Investments
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6 May 02:31 PM UAE stock markets show varied performance on Monday
UAE – Mubasher: The main index of Dubai Financial Market (DFM) gained 13.13 points (0.31%) on Monday and ended the trading session higher at 4,155.85 points. A total of 79.08 million shares were exchanged during the session at a value of AED …
Trading Activities
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6 May 09:10 AM Alpha Dhabi Holding records over AED 4.5bn profits in Q1-24
Abu Dhabi – Mubasher: The net profits of Alpha Dhabi Holding amounted to AED 4.59 billion in the first quarter (Q1) of 2024, down from AED 7.31 billion in Q1-23. The ADX-listed group posted revenues totalling AED 14.19 billion in Q1-24, marking an …
Financial Results