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28 March 03:59 PM Middle East, Eurasia make 32% of SMEs drawn to Dubai in 2023
UAE – Mubasher: Around 32% of the Small and Medium-sized Enterprises (SMEs) attracted by Dubai in 2023 originated from the Middle East and Eurasia. Meanwhile, 29% of SMEs drawn to the emirate come from Asia and Australia, according to data …
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28 March 03:24 PM UAE stock markets show varied performance on Thursday
UAE – Mubasher: The main index DFMGI of Dubai Financial Market (DFM) closed Thursday’s session in the green zone, after rising by 1.15 points (0.02%) to hit 4,232.94 points. The turnover amounted to AED 407.10 million through the trading of 224.82 …
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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 03:54 PM UAE stock markets close Wednesday in red zone
UAE – Mubasher: The main index DFMGI of Dubai Financial Market (DFM) declined on Wednesday by 14.44 points (0.34%) to close at 4,231.79 points. A total of 264.02 million shares were traded at a value of AED 663.77 million. Emirates Integrated …
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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 03:46 PM UAE stock markets end Tuesday’s session down
UAE – Mubasher: The benchmark index DFMGI of Dubai Financial Market (DFM) closed Tuesday lower by 35.32 points (0.82%) at 4,246.23 points. The trading value amounted to AED 502.99 million through the exchange of 256.43 million shares. Islamic Arab …
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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 02:54 PM Mubadala Investment acquires 100% of pan-African biopharmaceuticals platform KELIX bio
UAE – Mubasher: Mubadala Investment Company has acquired a 100% stake in KELIX bio, a leading emerging markets biopharmaceuticals platform. The sold stake represents the full ownership of Development Partners International (DPI), an investment …
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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 04:06 PM DFMGI, FADGI close Monday on mixed note
UAE – Mubasher: The benchmark index DFMGI of Dubai Financial Market (DFM) ended Monday’s session higher by 1.20 points (0.02%) at 4,281.55 points. A total of 300.35 million shares were exchanged at a turnover of AED 388.26 million. Parkin …
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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 11:52 AM BKN301 empowers banks, fintech companies in MENA via new platform
Mubasher: BKN301 Group launched its BKN301 banking-as-a-service (BaaS) Orchestrator solution to reshape the financial landscape in the MENA region, according to a press release. The platform aims to enable businesses of all sizes, particularly …
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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 …