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3 hours ago e& ups shareholding in Vodafone to 13%
Abu Dhabi – Mubasher: e&, formerly known as Etisalat Group, hiked its 12% stake in Vodafone Group to 13%, excluding treasury shares. Meanwhile, the UAE-based company currently holds 3.53 billion shares in Vodafone, according to a bourse …
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11:06 AM RAK White Cement’s profits fall in 2022 initial financials
Abu Dhabi – Mubasher: Ras Al Khaimah Company for White Cement and Construction Materials (RAK White Cement) recorded net profits of AED 21.08 million in 2022, down from AED 32.87 million a year earlier. The UAE-based firm witnessed an annual …
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10:23 AM NCTH’s profits shrink 49% in 2022 initial results
Abu Dhabi – Mubasher: National Corporation for Tourism and Hotels (NCTH) registered AED 60.46 million net profits in 2022, lower by 48.82% year-on-year (YoY) than AED 118.14 million. The ADX-listed company generated revenues worth AED 712.67 …
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2 February 06:15 PM Xpence plans to expand into at least 3 new strategic markets – Interview with CEO Ansari
By: Omnia Ahmed Mubasher: Building a business on solid unit economic is considered important by key players in the market. Meanwhile, startups as well as small- and medium-sized enterprises (SMEs) need access to financial services through a simple …
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2 February 03:13 PM UAE stock markets close Thursday’s session higher
UAE – Mubasher: The main index of the Dubai Financial Market (DFM) ended Thursday’s trading session at 3,365.25 points after gaining 17.33 points (0.51%). The trading value stood at AED 280.71 million after a total of 110.17 million shares were …
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2 February 02:45 PM IHC unveils 1st business acquisition in 2023 for AED 315m
Abu Dhabi – Mubasher: International Holding Company (IHC) has purchased a 55% equity in Reach Employment Services at a value of AED 315 million, according to a press release. The transaction marks IHC's first business acquisition in 2023 and …
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2 February 02:03 PM NMDC’s profits to owners jump 30% in 2022
Abu Dhabi - Mubasher: National Marine Dredging Company (NMDC) witnessed net profits attributable to shareholders worth AED 1.30 billion in 2022, higher by 30% year-on-year (YoY) than AED 1 billion. Revenues from contracts with customers reached …
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2 February 01:16 PM SAMA, CBUAE hike interest rates by 25 basis points
Mubasher: The Saudi Central Bank (SAMA) and the Central Bank of the UAE (CBUAE) raised their key interest rates by 25 basis points after the US Federal Reserve (Fed) unveiled a 25-basis-point hike on 1 February 2023. SAMA increased its repo and …
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2 February 12:03 PM NBQ’s profits soar 38% in 2022 initial results; dividends announced
Abu Dhabi – Mubasher: National Bank of Umm Al Qaiwain (NBQ) logged net profits worth AED 364.51 million in 2022, an annual leap of 38% from AED 264.16 million. The total revenues hiked to AED 599.02 million last year from AED 442.48 million in …
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2 February 11:25 AM Borouge records $1.39bn profits to owners in 2022; dividends for H2-22 unveiled
Abu Dhabi – Mubasher: The net profits attributable to the equityholders of Borouge plummeted to $1.39 billion in 2022 from $1.51 billion in 2021. The company generated revenues worth $6.72 billion during January-December 2022, up 8.30% …
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1 February 05:24 PM CBD sees 26% higher profits at AED 1.82bn in 2022
Dubai – Mubasher: The net profits of Commercial Bank of Dubai (CBD) hiked by 25.80% year-on-year (YoY) to AED 1.82 billion in 2022 from AED 1.45 billion. The total operating income stood at AED 3.81 billion in the January-December 2022 period, …
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1 February 03:19 PM DFM, ADX close Wednesday in green zone
UAE – Mubasher: The main index of the Dubai Financial Market (DFM) ended Wednesday’s trading session at 3,347.92 points after gaining 44.65 points (1.35%). DFM’s turnover amounted to AED 236.11 million through the exchange of 83.77 million shares. …
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1 February 03:00 PM Aldar unveils acquisition of Al Fahid Island for AED 2.5bn
Abu Dhabi – Mubasher: Aldar Properties has acquired Al Fahid Island at a value of AED 2.50 billion to be paid over five years, according to a press release. The transaction anchors Aldar’s development plans to provide various products that meet …
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1 February 12:15 PM DFM's profits to equityholders jump 42% in 2022; dividends proposed
Dubai – Mubasher: Dubai Financial Market Company (DFM) generated AED 147.11 million net profits attributable to shareholders in 2022, higher by 41.70% than AED 103.84 million a year earlier. DFM recorded an annual growth of 19% in total revenue to …
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1 February 10:32 AM Agthia logs 14% higher profits to shareholders in 2022 unaudited results
Abu Dhabi – Mubasher: The net profits attributable to the equityholders of Agthia Group increased by 14% year-on-year (YoY) to AED 246.78 million in 2022, versus AED 216.03 million. Revenues stood at AED 4.06 billion in the 12-month period that …
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31 January 05:24 PM ADCB’s 2022 profits to shareholders hit AED 6.43bn; dividends proposed
Abu Dhabi – Mubasher: The net profits attributable to the owners of Abu Dhabi Commercial Bank (ADCB) grew by 23% year-on-year (YoY) to AED 6.43 billion in 2022 from AED 5.24 billion. The operating income amounted to AED 14.34 billion last year, up …
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31 January 02:32 PM UAE stock markets close Tuesday with varied performance
UAE – Mubasher: The main index of the Dubai Financial Market (DFM) ended Tuesday’s trading session at 3,303.27 points after losing 0.19 points. A total of 92.92 million shares were exchanged at a value of AED 281.08 million. Emaar Properties …
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31 January 12:51 PM Yahsat’s unit, Canar pen $15m deal to foster digital services in Sudan
Abu Dhabi – Mubasher: YahClick, the data solutions subsidiary of Al Yah Satellite Communications Company (Yahsat), inked a $15 million contract with Sudan-based Canar Telecommunication Company Ltd. Through the six-year strategic partnership …
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31 January 12:14 PM UAE-based IHC to pump AED 1.4bn into India’s Adani Enterprises
Abu Dhabi – Mubasher: International Holding Company (IHC) plans to invest AED 1.40 billion ($400 million) in Adani Enterprises Limited (AEL), which is part of India-based Adani Group. IHC would endorse the further public offering (FPO) of Adani …
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30 January 04:58 PM ADIB’s profits to owners hike 54% in 2022; dividends proposed
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) achieved net profits after Zakat and tax attributable to the equityholders worth AED 3.58 billion in 2022, an annual surge of 54% from AED 2.32 billion. The basic and diluted earnings per share …
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30 January 03:40 PM DFM ends Monday’s trading session down; ADX up
UAE – Mubasher: The main index of the Dubai Financial Market (DFM) fell by 25.73 points (0.77%) on Monday and closed the trading session at 3,303.46 points DFM’s turnover amounted to AED 375.06 million through the exchange of 162.76 million …
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30 January 02:16 PM Mashreq Bank sees 270% higher profits to shareholders in 2022
Dubai - Mubasher: The net profit attributable to the owners of Mashreq Bank reached AED 3.70 billion in 2022, an annual leap of 269.80% from AED 1 billion. Earnings per share (EPS) settled at AED 18.48 last year, versus AED 5 in the …
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29 January 12:06 PM Dubai Investments acquires equity in UK-based digital bank
Dubai – Mubasher: Dubai Investments has acquired a 9% stake in Monument Bank Limited, a digital bank located in the UK and regulated by the UK’s Financial Conduct Authority and the Prudential Regulation Authority. The equity acquisition in …
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29 January 12:00 PM Al Seer Marine records AED 1bn net profit in 2022; revenues jump 79%
Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company generated net profits worth AED 1 billion during 2022, an annual decline from AED 2.51 billion. The earnings per share (EPS) plunged to AED 1.01 last year from AED 4.90 in 2021, …
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29 January 10:02 AM Apex Investment logs over AED 187m profits in 2022
Abu Dhabi – Mubasher: Apex Investment Company generated AED 187.19 million net profits in 2022, higher than AED 2.98 million in 2021, according to the consolidated income statements. The ADX-listed company, formerly known as Ras Al Khaimah Cement …