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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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
Fifth Wall is the world's largest venture capital company specialising in property technology
3 May 01:26 PM Aldar invests in Fifth Wall's European property technology fund
Abu Dhabi – Mubasher: Aldar Properties has partnered with Fifth Wall, the largest property technology venture capital firm in the world, to invest in the European Real Estate Technology Fund. The real estate developer is the first limited partner …
The company’s revenues increased to AED 13.12 million
3 May 11:22 AM BH Mubasher turns profitable in Q1-21
Dubai – Mubasher: BH Mubasher Financial Services logged net profits of AED 2.26 million in the first quarter (Q1) of 2021, versus net losses of AED 1.43 million in the prior-year period, the preliminary financial results showed. The company’s …
The overall income grew to AED 215.13 million in the three-month period
3 May 10:54 AM ADNIC logs AED 134m profit in Q1-21
Abu Dhabi – Mubasher: The net profits of Abu Dhabi National Insurance Company (ADNIC) rose by 9% to AED 133.61 million in the first quarter (Q1) of 2021, compared to AED 122.62 million in the year-ago period. The insurer’s net underwriting income …
Revenues surged to AED 124.29 million in the January-March period
3 May 10:38 AM RAK Properties reports 433% higher profit in Q1-21
Abu Dhabi – Mubasher: RAK Properties achieved net profits of AED 64.13 million in the first quarter (Q1) of 2021, up by 433% year-on-year (YoY) from AED 12.04 million, the unaudited financial results showed. The real estate developer’s revenues …
The bank’s net revenues grew by 3.3% to AED 1.335 billion
2 May 03:53 PM ADIB's profit jumps 125% in Q1-21
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) reported net profits of AED 607.6 million in the first quarter (Q1) of 2021, up by 125% year-on-year (YoY) from AED 269.7 million on the back of higher revenues and lower impairment allowance, …
Obeid will act as an advisor to the company
2 May 01:40 PM Aramex CEO Bashar Obeid resigns
Dubai – Mubasher: Aramex announced the resignation of Bashar Obeid from his position as CEO, due to personal reasons, following 28 years of service in the company.   Obeid will continue to serve as CEO until a successor is named, after which he …
Total assets rose to AED 22.0 billion in Q1-21
2 May 12:23 PM Dubai Investments turns profitable in Q1-21
Dubai – Mubasher: Dubai Investments logged AED 123.8 million in net profits attributable to the company's owners in the first quarter (Q1) of 2021, versus net losses of AED 6.8 million in the year-ago period. The company’s revenues grew to AED …
The order book was four times oversubscribed
2 May 10:57 AM TAQA completes $1.5bn dual-tranche bond offering
UAE – Mubasher: Abu Dhabi National Energy Company (TAQA) announced the placement of $1.5 billion in seven-year and 30-year dual-tranche senior unsecured notes, according to a disclosure on Sunday. The seven-year bonds, which stand at $750 million …
Agthia plans to exercise the call option in consideration of AED 125.91 million
2 May 10:56 AM Agthia Group reveals details about Oriongreen acquisition deal
Abu Dhabi – Mubasher: Agthia Group revealed further details about the acquisition of a 60% stake in Oriongreen from Nutrivation Holding Limited and an additional 20% stake from Ideal Holding Limited. In the convertible instrument, Nutrivation will …
Shuaa Capital elected Ahmed bin Barik as the Vice Chairman
29 April 03:36 PM Shuaa Capital names Chairman, Vice Chairman
Dubai – Mubasher: Shuaa Capital announced the election of Fadel Al Ali as the Chairman of the board, according to a bourse disclosure on Thursday. The company also elected Ahmed bin Barik as the Vice Chairman of the board of directors. Shuaa …
Revenues stood at AED 13.21 billion in Q1-21
29 April 02:05 PM Etisalat records AED 2.3bn net profits in Q1
Abu Dhabi – Mubasher: Emirates Telecommunications Group (Etisalat) posted an annual increase of 7.9% in net profits attributable to the shareholders during the first quarter (Q1) of 2021. Etisalat’s earnings reached AED 2.34 billion in Q1-21, …
Dubai Insurance’s board approved Q1-21 financials
29 April 11:54 AM Dubai Insurance reelects Chairman, Vice Chairman
Dubai – Mubasher: Dubai Insurance Company announced the reelection of Buti Obaid Almulla as the Chairman of the board, according to a bourse filing on Thursday. The company has also reelected Vice Chairman Marwan Abdulla Al Rostamani. During its …