Sector News

Dubai – Mubasher: Gulf Navigation Holding (GNH) posted net profits attributable to the equityholders worth AED 1.93 million in the first nine months (9M) of 2022, versus AED 66.33 million in 9M-21. Operating revenues amounted to AED 104.09 million …

Dubai - Mubasher: Aramex has completed the acquisition of US-based technology-driven and cross-border e-commerce enabling platform Access USA Shipping (MyUS) for nearly $265 million. The bargain marks the UAE-based firm’s largest acquisition to …

By: Malek Salama Dubai - Mubasher: The Dubai Financial Market (DFM) welcomed new initial public offerings (IPOs) worth AED 208.20 billion ($56.70 billion) during the first nine months (9M) of 2022. These IPOs aim to support Dubai’s financial …

Mubasher: Egyptian Financial Group Hermes Holding’s (EFG Hermes) investment banking division has concluded advisory as joint bookrunner on Salik Company’s initial public offering (IPO). Salik began trading on Dubai Financial Market (DFM) on 29 …

Dubai – Mubasher: DAL Group, Sudan’s most innovative and customer-focused conglomerate, and Air Arabia, announced the planned launch of “Air Arabia Sudan”, a joint-venture (JV) company to be based in Khartoum International Airport. …

Dubai – Mubasher: Gulf Navigation Holding (GNH) has successfully completed the full repayment of a $2.70 million loan for one of its vessels. The loan was financed by "Rasmala" with an interest rate of 12%. The full proceeds of this vessel will …

Dubai – Mubasher: Gulf Navigation Holding (GNH) has turned to net losses attributable to the owners worth AED 2.53 million in the first half (H1) of 2022, against net profits of AED 80.10 million in H1-21. The operating revenues jumped to AED …

Dubai - Mubasher: Aramex’s profits for the first half (H1) of 2022 fell by 18% year-on-year (YoY) to AED 91.87 million, compared to AED 111.47 million. Revenues for the first six months (6M) of the year went down by 1% to reach AED 2.96 billion …

Dubai – Mubasher: Air Arabia achieved a net profit of AED 451 million during the first six months (6M) ending 30 June 2022, compared to AED 44 million registered in the corresponding period in 2021. MENA’s first and largest low-cost carrier …

Dubai - Mubasher: Aramex has signed a binding agreement to fully acquire Access USA Shipping (MyUS), a US-based technology-driven platform that enables cross-border e-commerce, in exchange for $265 million. Both companies will explore several …

Dubai – Mubasher: Aramex has raised the foreign ownership limit to 100% from 49% to become the first onshore Emirati company listed on the Dubai Financial Market (DFM) to allow for full ownership by foreign investors. This decision was made after …

Dubai – Mubasher: The net profits attributable to the owners of Gulf Navigation Holding (GNH) plunged to AED 1.65 million in the first quarter (Q1) of 2022 from AED 80.13 million in the corresponding period in 2021, according to the company's …

Dubai - Mubasher: The net profits of Air Arabia hiked to AED 290.86 million in the first quarter (Q1) of 2022, compared to AED 33.84 million in the year-ago period, according to the company's unaudited consolidated financials for the three-month …

UAE – Mubasher: Air Arabia Abu Dhabi, the joint venture between Etihad Airways and Air Arabia, has launched a new destination to Jaipur which is known as the Pink city, marking its 18th route to India. Starting from 5 May this year, the new …

Dubai – Mubasher: The board of Aramex has recommended a cash dividend distribution, equivalent to 13% of the company's paid-up capital, for 2021. The cash dividend distribution is subject to the approval of the ordinary general meeting (OGM), …

Dubai - Mubasher: The ordinary general meeting (OGM) of Air Arabia has approved a cash dividend distribution, equivalent to 8.5% of the capital, for 2021. The cash dividend payout stands at 8.5 fils per share, according to a recent bourse filing. …

Dubai - Mubasher: Air Arabia has achieved consolidated net profits of AED 719.92 million in 2021, against net losses of AED 192.18 million a year earlier. The company generated revenues of AED 3.17 billion last year, an increase of 71% from AED …

Dubai – Mubasher: Aramex has recorded a 15% decline in net profits to AED 225.37 million in 2021, compared to AED 266.65 million in the previous year, according to the company's unaudited preliminary financials for the year ended 31 December 2021. …

Dubai – Mubasher: The general assembly meeting of Gulf Navigation Holding (GNH) has approved the issuance of mandatory convertible bonds at a value of up to AED 150 million through a private placement. The move aims to restructure existing Sukuk …

UAE - Mubasher: Abu Dhabi Ports Company has acquired a 22.32% stake in Aramex from Alpha Oryx Limited. The transaction does not have any impact on the financial position of Abu Dhabi Ports and Alpha Oryx, according to a recent bourse disclosure. …

Mubasher: Aramex has teamed up with Virtuzone to offer logistics and shipping solutions to the members of AMP, an e-commerce startup accelerator programme in the MENA region. Under the partnership, Aramex will provide AMP members with special …

Dubai – Mubasher: Aramex will not proceed with the acquisition of MNG Kargo Yurtiçi ve Yurtdışı Taşımacılık (MNG Kargo), upon the board’s final decision on 9 December, according to a bourse disclosure on Thursday. In a separate filing, Aramex …

Dubai - Mubasher: Air Arabia has achieved net profits of AED 253.121 million during the first nine months of 2021, versus net losses of AED 212.639 million in the year-ago period, according to the company's consolidated interim financials for the …