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08 May 03:29 AM

UAE news

The benchmark index of the DFM went up 0.24%
5 May 02:48 PM UAE stock markets close Wednesday on varied note
UAE - Mubasher: The UAE stock markets have ended Wednesday's trading session on a varied note. The benchmark index of the Dubai Financial Market (DFM) went up 0.24% to settle at 2,650 points by the end of Wednesday's trading session. A total of 74 …
Trading Activities
The 15 service stations are owned by First Mazaya Company
5 May 02:31 PM ADNOC Distribution receives approval to acquire 15 stations in Saudi Arabia
Mubasher: Saudi Arabia's General Authority for Competition has issued a no-objection certificate for Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) to acquire 15 service stations in the Eastern Province in Saudi Arabia. The …
Companies Investments
The selected startups will be awarded pilot projects with Aldar
5 May 01:48 PM Aldar selects three global PropTech startups for Scale Up accelerator programme
Abu Dhabi – Mubasher: Aldar Properties has selected three PropTech startups from three different countries as part of the inaugural Aldar Scale Up accelerator programme, which aims to support international businesses with the latest cutting-edge …
Real estate
DIFC, DFSA, and MFTA have founded DIFC Innovation Panel
5 May 01:09 PM DIFC partners with MENA FinTech Association to develop future of finance
UAE - Mubasher: Dubai International Financial Centre (DIFC) has inked an agreement with the MENA FinTech Association (MFTA), a non-profit and member-based organisation with 46 cross border FinTech bridges, to create an innovation forum and foster …
Companies Investments
The company's revenues reached $307.5 million in Q1-21
5 May 12:30 PM Dubai Aerospace Enterprise sees lower profits in Q1-21
UAE - Mubasher: The net profits of Dubai Aerospace Enterprise (DAE) plunged to $8.3 million during the first quarter (Q1) of 2021 from $76.7 million in the year-ago period. The company's revenues reached $307.5 million in the first three months of …
Financial Results
The accumulated losses have decreased to 13%
5 May 11:52 AM DXB Entertainments logs AED 8.2bn accumulated losses
Dubai – Mubasher: DXB Entertainments has incurred accumulated losses of AED 8.2 billion as of the period ended 31 March 2021, representing 13% of the capital. The accumulated losses have decreased from 98% to 13% of the capital, driven by the …
Financial Results
The EPS stood at AED 0.015 in Q1-21
5 May 11:30 AM Ajman Bank records surge in net profits in Q1-21
Dubai – Mubasher: The net profits of Ajman Bank have hiked to AED 31.331 million during the first quarter (Q1) of 2021, compared to AED 4.609 million in the same period of 2020, according to the bank's interim financial results for the three-month …
Banking and Finance
The recovery pace will vary among key sectors
5 May 10:56 AM Moody's affirms UAE's Aa2 rating; outlook stable
UAE - Mubasher: Moody's Investors Service (Moody's) has affirmed the Aa2 long-term issuer rating of the UAE government, with a stable outlook. The affirmed rating reflects the low impact of the coronavirus (COVID-19) pandemic on the federal …
Ratings
The company's revenues increased to AED 77.949 million in Q1-21
5 May 10:27 AM Waha Capital turns to profitability in Q1-21
Abu Dhabi – Mubasher: Waha Capital has reported net profits attributable to the owners of AED 110.581 million in the first quarter (Q1) of 2021, against net losses of AED 294.454 million in the same quarter of 2020, according to the …
Financial Results
The company generated revenues of AED 10.326 billion in Q1-21
5 May 10:07 AM TAQA records AED 1.435bn profits in Q1-21; dividends proposed
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) has achieved net profits attributable to the equity holders of AED 1.435 billion during the first quarter (Q1) of 2021, according to the company's proforma interim consolidated …
Cash Dividends
The main index of ADX inched up by about 0.37%
4 May 03:08 PM DFM ends Tuesday down; ADX up
UAE - Mubasher: The UAE stock markets have ended Tuesday's trading session on a varied note. The benchmark index of the Dubai Financial Market (DFM) went down 0.37% to settle at 2,643.8 points by the end of Tuesday's session. A total of 115.31 …
Trading Activities
The prices offered fall within the average price range of the initial potential investor
4 May 02:49 PM ADCB receives additional preliminary offers for stake in Alexandria Medical Services
Mubasher: Abu Dhabi Commercial Bank (ADCB) has received two additional preliminary non-binding offers from potential investors to acquire the bank's 51.54% stake in Alexandria Medical Services - Alexandria New Medical Center. The additional …
Mergers and Acquisitions
Committed gas investments will likely plunge by $9.5 billion
4 May 02:39 PM MENA energy investments likely to surpass $805bn by 2025
Mubasher: Total planned and committed investments in MENA’s energy sector are expected to exceed $805 billion over the coming five years, the Arab Petroleum Investments Corporation (APICORP) said. This will mark an increase of $13 billion from the …
Macroeconomics
The exchange's new PKR Futures Contract registered 180 lots
4 May 02:19 PM DGCX records surge in Indian Rupee Quanto, silver future contracts in April
UAE - Mubasher: The Dubai Gold and Commodities Exchange (DGCX) recorded a monthly Average Open Interest (AOI) of 179,554 contracts during April. The DGCX reported a 562% year-on-year (YoY) Average Daily Volume (ADV) surge in Indian Rupee Quanto …
Macroeconomics
The insurer's net earned premiums reached AED 36.9 million
4 May 01:47 PM Insurance House records 28% higher profits in Q1-21
Abu Dhabi – Mubasher: The net profits of Insurance House (IH) rose by 28% to AED 4.01 million during the first quarter (Q1) of 2021, compared to AED 3.14 million in the year-ago period. The insurer's net earned premiums reached AED 36.9 million in …
Financial Results
Etisalat has hired banks to arrange an investor call for euro bond issuance
4 May 01:14 PM Etisalat hires banks for planned dual-tranche euro bond issuance
Abu Dhabi – Mubasher: Emirates Telecommunications Group (Etisalat) has hired banks to arrange an investor call for a planned euro-denominated bond issuance of seven and 12 years, Reuters reported. The hired banks comprise BNP Paribas, First Abu …
Companies Investments
The value of real estate sales neared AED 5 billion
4 May 12:47 PM Abu Dhabi's real estate transactions hit AED 11.5bn in Q1-21
UAE - Mubasher: The total value of real estate transactions in Abu Dhabi amounted to AED 11.5 billion during the first quarter (Q1) of 2021, according to a recent report by the Abu Dhabi Department of Municipalities and Transport (DMT). …
Macroeconomics
The financing comprises a five-year revolving credit facility
4 May 12:08 PM du signs AED 3.769bn financing agreements
Dubai – Mubasher: Emirates Integrated Telecommunications Company (du) has inked long-term financing agreements valued at AED 3.769 billion with a group of banks. The financing comprises a five-year revolving credit facility worth AED 1.981 billion …
Companies Investments
Output charges rise for the first time in over two-and-a-half years
4 May 11:29 AM UAE sees solid improvement in non-oil private sector in April
UAE - Mubasher: The seasonally adjusted IHS Markit UAE Purchasing Managers' Index (PMI) increased to its highest level since mid-2019 to record 52.7 in April from 52.6 in March, reflecting a solid improvement in the country's non-oil private …
Macroeconomics
The holiday will begin on Tuesday 11 May
4 May 10:50 AM UAE announces Eid Al Fitr holiday for public sector
UAE - Mubasher: Eid Al Fitr holiday for the UAE's federal entities will begin on Tuesday, 29 Ramadan, until 3 Shawwal, based on the Islamic Hijri calendar, the Federal Authority for Government Human Resources (FAHR) announced on its official …
Macroeconomics
The bank has appointed Ali Rashed Ahmad Lootah as Vice Chairman
4 May 10:24 AM Mashreq Bank appoints new Chairman
Dubai – Mubasher: The board of Mashreq Bank has elected Abdulaziz Abdullah Al Ghurair as the bank's Chairman. The bank has also appointed Ali Rashed Ahmad Lootah as Vice Chairman, according to the bank's disclosure to the Dubai Financial Market …
Board of Directors
The company's revenues rose to AED 665.524 million
4 May 10:01 AM Agthia Group's net profits rise 86% in Q1-21
Abu Dhabi – Mubasher: Agthia Group has registered an 86% increase in net profits attributable to the owners to AED 49.584 million in the first quarter (Q1) of 2021 from AED 26.637 million in the year-ago period, according to the …
Financial Results
The company generated revenues of AED 73.4 million
4 May 09:38 AM DFM reports 33% lower profits in Q1-21
Dubai – Mubasher: The net profits of the Dubai Financial Market Company (DFM) decreased by 33% to AED 23.429 million during the first three months of 2021 from AED 34.732 million in the same quarter of 2020, according to the company's condensed …
Financial Results
Etisalat has been recognised as the world’s fastest mobile network
3 May 03:35 PM UAE tops mobile network speed testing in Q1
UAE – Mubasher: The UAE came in the first position for mobile network speeds worldwide in the first quarter (Q1) of 2021, according to the latest data from the US internet testing and analysis company Ookla. The GCC nation beat South Korea and …
Macroeconomics
Middle East Energy Dubai will kick off on 17 May
3 May 03:10 PM Middle East seen as market leader in renewable, clean energy
Mubasher: The MENA region is projected to see 83 GW of renewable and clean energy capacity, mainly from solar and wind power, by 2035, according to a research from Informa Markets. In addition, over AED 55 billion worth of solar power projects …
Sector Reports