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27 January 09:58 PM

UAE news

he proposed dividends represent 38% of the paid-up capital
4 hours ago ADCB proposes AED 2.64bn cash dividend in 2019
Abu Dhabi – Mubasher: The board of Abu Dhabi Commercial Bank (ADCB) has recommended paying a cash dividend of AED 2.64 billion or AED 0.38 dividend per share for fiscal year 2019. The proposed dividends represent 38% of the paid-up capital, …
Board of Directors
04:24 PM Chinese health insurance seen to surpass $136.6bn in 2022–GlobalData
Mubasher: The Chinese health insurance sector is forecast to grow to CNY 921.1 billion ($136.6 billion) in 2022.
Global Markets brief
03:54 PM India expects fall in tax revenues
Corporate and income tax revenues in India are expected to decline in 2020, for the first time in more than 20 years.
Global Reports
Invest Bank topped the decliners with 10%
03:24 PM ADX decreases on Monday; market cap down AED 5.42bn
Abu Dhabi – Mubasher: The main index of Abu Dhabi Securities Exchange (ADX) declined by 1.2% or 62.77 points to 5,167.24 points by the end of Monday’s trading session. A total of 132.67 million shares were exchanged through 1,260 transactions at a …
Stock Evaluations
Gulfa Mineral Water and Processing Industries Company topped 20 decliners
03:11 PM DFM down on Monday; market cap declines AED 2.58bn
Dubai – Mubasher: The benchmark index of Dubai Financial Market (DFM) decreased by 1.16% or 32.66 points to 2,788.8 points by the end of Monday’s trading session. A total of 151.04 million shares were traded through 2,970 transactions at a value …
Stock Evaluations
UD Trucks sales in the UAE increased by 10% annually
01:46 PM UD Trucks spurs regional growth on new partner in Saudi Arabia
Mubasher: UD Trucks, a Japanese commercial vehicle brand, has enjoyed a positive year in 2019, particularly with the launch of the new heavy-duty Quester, a series of major fleet deals, and the collaboration with a new retail partner in Saudi …
Financial Results
Saudi Minister of Energy, Prince Abdulaziz bin Salman
12:35 PM Saudi Arabia monitors impact of coronavirus outbreak on oil market
Riyadh – Mubasher: Saudi Arabia is closely monitoring developments in the global oil market resulting from concerns about the coronavirus outbreak and its impact on China and the global economy, according to the Saudi Minister of Energy, Prince …
Commodities
ADCB's earnings per share (EPS) recorded AED 0.70 in 2019
12:22 PM ADCB’s net profits down 14% in 2019
Abu Dhabi – Mubasher: The net profits of Abu Dhabi Commercial Bank (ADCB) decreased by 16% to AED 1.05 billion during the fourth quarter of 2019 from AED 1.24 billion in the same period of 2018, according to the bank’s full-year financial results …
Financial Results
Kuwait’s oil economy slipped by 1% in 2019
11:49 AM Kuwait’s GDP down to 0.7% in 2019 on lower oil sector growth – IMF
Mubasher: The International Monetary Fund (IMF) on Monday stated that Kuwait’s gross domestic product (GDP) slowed to 0.7% in 2019 from 1.2% in 2018, pressured by lower oil prices and output, despite the growing non-oil sector. Kuwait’s real oil …
Macroeconomics
Financing and investing receivables increased by 4% in 2019
11:25 AM Emirates Islamic’s net profits surpass AED 1bn in 2019
Dubai – Mubasher: Emirates Islamic, one of the leading Islamic financial institutions in the UAE, posted a 15% year-on-year (YoY) increase in its net profits in 2019, recording AED 1.06 billion, according to the bank’s annual financial results. …
Banking and Finance
Emirates NBD's Q4 profits decreased to AED 2.02 billion
11:01 AM Emirates NBD’s net profits up 44% YoY in 2019
Dubai – Mubasher: The net profits of Emirates NBD surged by 44% year-on-year (YoY) to AED 14.5 billion during fiscal year 2019, compared to AED 10.04 billion in 2018, according to the bank’s annual financial results for the period ending on 31 …
Banking and Finance
Fidu Properties saw a 172% jump in real estate deals in UAE
26 January 06:13 PM China’s Fidu sees 289% YoY jump in Emaar’s projects sales
Dubai – Mubasher: Fidu Properties, one of the leading UAE-based Chinese developers, recorded a 289% year-to-year (YoY) surge in the sales of projects by Emaar Properties in the UAE during 2019. Fidu Properties saw a 172% jump in real estate deals …
Financial Results
Toyota Land Cruiser features new design and intelligent technologies
26 January 06:01 PM Al Futtaim Toyota’s sales witness strong performance in 2019
Dubai – Mubasher: Al Futtaim Toyota in the UAE has posted strong sales during 2019 because of its new innovative models joining its portfolio, according to a press release on Sunday. Its Toyota Land Cruiser, featuring new design and intelligent …
Financial Results
Saudi Arabia is the UAE’s most prominent partner in the GCC
26 January 05:27 PM Saudi citizens, banks invest AED 10.93bn in UAE in 2018
UAE – Mubasher: The value of investments by Saudi citizens and banks in the UAE reached AED 10.93 billion in 2018, including AED 6.35 billion in joint stock companies and AED 4.58 billion in Saudi investors’ transactions in the UAE. This …
Macroeconomics
Dubai welcomed the highest number of investors in Q4-19
26 January 05:07 PM Dubai’s new investors increase 86% in 2019
UAE - Mubasher: The number of new investors in Dubai surged by 86% to more than 60,700 in different economic sectors during 2019 when compared to 32,600 in 2018, according to official data by Dubai's Department of Economic Development (DED). …
Macroeconomics
Union Properties is in the final stages of signing Autodrome deal
26 January 04:36 PM Union Properties to ink AED 200m deal to expand Autodrome
Dubai – Mubasher: Union Properties is in the final stages of signing a memorandum of understanding (MoU) with China National Chemical Engineering Group Corporation (CNCEC) to expand Dubai Autodrome at a value of around AED 200 million. The …
Companies Investments
A total of 18.65 million shares were exchanged
26 January 03:20 PM ADX down on Sunday; market cap exceeds AED 542bn
Abu Dhabi – Mubasher: The main index of Abu Dhabi Securities Exchange (ADX) went down by 0.28% or 14.67 points to 5,230.01 points by the end of Sunday’s trading session, compared to its upward performance on Thursday, 23 January. A total of 18.65 …
Stock Evaluations
GFH was the most active stock with 11.54 million traded shares
26 January 03:02 PM DFM maintains negative performance on Sunday
Dubai – Mubasher: The benchmark index of Dubai Financial Market (DFM) retreated by 0.58% or 16.53 points to 2,821.46 points by the end of Sunday’s trading session, maintaining its downward performance on Thursday, 23 January. A total of 68.09 …
Trading Activities
Total Saudi merchandise exports slipped by 14.9% in November 2019
26 January 01:50 PM Saudi oil exports dip 15.4% in November - GaStat
Riyadh – Mubasher: Recent data from the Saudi Arabia General Authority for Statistics (GaStat) showed a 15.4% year-on-year (YoY) decrease in Saudi oil exports in November 2019. Oil exports retreated to SAR 62.3 billion in November last year from …
Macroeconomics
The new aircraft arrived in Abu Dhabi
25 January 10:10 PM Etihad Airways receives new Boeing 787 Dreamliner
UAE – Mubasher: Etihad Airways has received a new Boeing 787 Dreamliner on Saturday, according to the Emirates News Agency. The new aircraft arrived in Abu Dhabi after a flight from Boeing’s assembly plant in North Charleston, South Carolina. …
Companies Investments
Oilfields used 8.9 BCM of natural gas
25 January 07:50 PM Oman’s natgas output, imports hit 42.2 BCM in Nov. 2019
Mubasher: Oman’s local natural gas production and imports edged up 0.08% year-on-year to 42.194 billion cubic metres (BCM) by the end of November 2019, the Oman News Agency (ONA) reported on Saturday. Industrial projects accounted for 3.8% of the …
Macroeconomics
25 January 07:23 PM Oil prices to soften in 2020 as geopolitical tension mitigated
Mubasher: Global oil prices are expected to decline during the first six months of 2020, according to a report released on Saturday by the NBK.
Oil and Energy
The agreement concerns power complex
25 January 06:13 PM Mubadala inks implementation agreement with Uzbekistani gov’t
UAE – Mubasher: Mubadala Investment Company has signed an implementation agreement with Thermal Power Plants of the Republic of Uzbekistan, the Emirates News Agency reported on Saturday. The agreement paves the way for the future implementation of …
Companies Investments
Operating income rose to AED 1.9 billion in 12M
25 January 04:56 PM Sharjah Islamic Bank's net profit grows 7% YoY in 2019
Abu Dhabi – Mubasher: Sharjah Islamic Bank (SIB) posted a 7% year-on-year profit increase during the fiscal year 2019, the Emirates News Agency reported on Saturday. The bank’s net profit grew to AED 545.5 million in 2019, compared to AED 510.4 …
Financial Results
Non-oil exports to GCC countries hit KWD 65.1m
25 January 04:21 PM Kuwaiti non-oil exports level up by 9.2% YoY in 2019
Mubasher: The value of certificates of origin (COs) for Kuwaiti non-oil exports grew by 9.2% year-on-year in 2019, the Kuwait News Agency reported on Saturday. The number of COs for non-oil exports to Arab and foreign countries reached 14,830 at a …
Macroeconomics