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12:28 PM Cairo Poultry cancels commercial license in Dubai's JAFZA
Cairo – Mubasher: Cairo Poultry decided to cancel the commercial license issued by the Jebel Ali Free Zone (JAFZA) in Dubai. The company has not announced the reasons for cancelling the commercial license, according to a recent bourse filing. It …
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10:13 AM e& launches 1st Telco NFTs in region
Abu Dhabi – Mubasher: e& has launched its first set of non-fungible tokens (NFTs) to become the first technology and investment conglomerate in the Middle East to introduce NFTs. This step will enable the company to advance blockchain …
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23 May 02:48 PM AD Ports inks agreement to launch pulp, paper products hub
Abu Dhabi - Mubasher: AD Ports Group has reached a strategic partnership agreement with Germany-based Alexander Global Logistics GmbH to establish a pulp and paper products hub. Under the agreement, the two companies will launch a transshipment …
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23 May 01:20 PM Moody's upgrades Emirates NBD's credit ratings; outlook stable
Dubai – Mubasher: Moody's Investors Service (Moody's) has upgraded Emirates NBD's long-term credit ratings to 'A2' from 'A3' and short-term ratings to 'P-1' from 'P-2', with a stable outlook. This step was attributed to Moody's decision to upgrade …
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23 May 12:42 PM Orascom Construction's unit, Al Ahly Capital to develop industrial park
Cairo - Mubasher: Suez Industrial Development Company (SIDC) has signed an agreement with Al Ahly Capital Holding (ACH), an investment arm of the National Bank of Egypt (NBE), to jointly establish an industrial park in Abu Rawash (Giza) in Egypt. …
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22 May 10:58 AM Orascom Construction's profits down 45% in Q1-22; dividends proposed
Mubasher: The consolidated net profits attributable to the owners of Orascom Construction Plc retreated by 45.1% to $13.1 million in the first quarter (Q1) of 2022 from $23.9 million in the same period of 2021. The company generated revenues of …
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22 May 10:03 AM Fitch affirms Bank of Sharjah's 'BBB+' rating; outlook stable
Abu Dhabi – Mubasher: Fitch Ratings has affirmed Bank of Sharjah's long-term issuer default rating (IDR) at 'BBB+' for the second year in a row, with a stable outlook. Affirming Bank of Sharjah's rating reflects the bank's strong market position …
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19 May 01:19 PM DFM to launch trading of Oman Crude Oil Futures next June
Dubai - Mubasher: The Dubai Financial Market (DFM) is planning to start the trading of its new Micro Oman Crude Oil Contracts on 1 June 2022. The announcement comes in line with DFM’s growth strategy that aims at promoting investment opportunities …
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19 May 11:34 AM Moody's upgrades Emirates NBD's deposit ratings; outlook stable
Dubai – Mubasher: Moody's Investors Service (Moody's) has upgraded the long-term deposit and senior unsecured ratings of Emirates NBD to 'A2' from 'A3' and short-term deposit ratings to 'P-1' from 'P-2', with a stable outlook. Upgrading the bank's …
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19 May 10:20 AM Alpha Dhabi to invest AED 9.2bn in Alpha Wave Ventures II
Abu Dhabi - Mubasher: Alpha Dhabi Holding will invest AED 9.2 billion in the Alpha Wave Ventures II fund of Chimera Capital and Alpha Wave. The company will allocate undrawn capital of AED 6.6 billion, which will be drawn down over the investment …
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17 May 12:00 PM GFH raises stake in GB Corp for $2m
Mubasher: GFH Financial Group has raised its stake in the investment company GB Corp to 62.91% from 50.41% through strategic swaps worth $1.7 million. The transaction will have a positive impact on GFH's financials, according to a bourse filing on …
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17 May 10:29 AM IHC completes AED 7.3bn investment in Adani's portfolio
Abu Dhabi – Mubasher: International Holding Company (IHC) has completed its investment worth AED 7.3 billion ($2 billion) in the portfolio companies of India-based Adani Group. IHC will provide capital to Adani Green Energy Limited (AGEL), Adani …
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17 May 10:03 AM GNH sees lower profits in Q1-22
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 …
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17 May 09:45 AM Ithmaar Holding's profits down 87% in Q1-22
Mubasher: The net profits attributable to the equity holders of Ithmaar Holding retreated by 87.2% to $1.13 million in the first quarter (Q1) of 2022, compared to $8.86 million in the same quarter of 2021, according to the company's interim …
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16 May 09:41 AM Julphar turns to profitability in Q1-22
Abu Dhabi – Mubasher: Gulf Pharmaceutical Industries (Julphar) has achieved net profits attributable to the equity holders of AED 1.5 million in the first quarter (Q1) of 2022, against net losses of AED 23.9 million in the same quarter of 2021, …
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15 May 07:14 PM Salama's profits exceed AED 9.5m in Q1-22; dividends, accumulated losses announced
Dubai – Mubasher: The Islamic Arab Insurance Company (Salama) has achieved net profits attributable to the shareholders worth AED 9.92 million during the first quarter (Q1) of 2022, compared to AED 22.22 million in Q1-21. The company's net …
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15 May 07:00 PM Amlak Finance sees higher profits in Q1-22; accumulated losses hit 86% of capital
Dubai – Mubasher: Amlak Finance has achieved net profits worth AED 13.08 million in the first quarter (Q1) of 2022, higher than AED 6.38 million in Q1-21. In the first three months (3M) of 2022, the income from Islamic financing and investing …
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15 May 06:38 PM Emaar Development's profits up 34% in Q1-22
Dubai – Mubasher: Emaar Development has recorded net profits attributable to the owners worth AED 1.05 billion during the first quarter (Q1) of 2022, an annual leap of 34% from AED 780.89 million. During the January-March 2022 period, revenues …
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15 May 04:51 PM GFH's profits up 18.5% in Q1-22
Mubasher: The net profits attributable to the shareholders of GFH Financial Group totalled $19.11 million in the first quarter (Q1) of 2022, an annual growth of 18.50% from $16.12 million. Total income edged up by 0.47% to $90.81 million in the …
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15 May 01:34 PM Emirates Investment Bank turns to losses in Q1-22
Dubai – Mubasher: Emirates Investment Bank has logged net losses attributable to the equity holders of AED 43.63 million in the first quarter (Q1) of 2022, versus net profits of AED 7 million in the same quarter of 2021, according to the bank's …
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15 May 12:26 PM Eshraq Investments sees 40% rise in Q1-22 profits
Abu Dhabi – Mubasher: The net profits of Eshraq Investments jumped by 40% year-on-year (YoY) to AED 14.35 million in the first quarter (Q1) of 2022, compared to AED 10.25 million, according to the company's unaudited consolidated financials. The …
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15 May 12:02 PM Union Properties turns to losses in Q1-22
Dubai – Mubasher: Union Properties has incurred net losses of AED 12.48 million in the first quarter (Q1) of 2022, against net profits of AED 5.55 million in Q1-21, according to the company's unaudited consolidated financials. The company's …
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15 May 10:53 AM e& acquires 10% in Vodafone Group
Abu Dhabi – Mubasher: e&  has acquired a 9.8% stake in the issued share capital of Vodafone Group in exchange for $4.4 billion. The UAE-based company has purchased around 2.76 billion shares in Vodafone to benefit from the expertise of the …
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15 May 10:34 AM Emaar Properties' profits surge 241% in Q1-22
Dubai – Mubasher: The unaudited interim consolidated financials of Emaar Properties reported a 241% surge in net profits attributable to the owners to AED 2.23 billion in the first quarter (Q1) of 2022, compared to AED 656.86 million in Q1-21. The …
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15 May 10:18 AM AD Ports reports rise in Q1-22 profits
Abu Dhabi - Mubasher: AD Ports Group posted a rise in net profits attributable to the owners to AED 304.92 million in the first quarter (Q1) of 2022 from AED 216.06 million in the year-ago period, according to the company's unaudited consolidated …