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12 May 02:53 AM

Gulf news

Property sales surged to AED 5.883 billion
11 May 11:43 AM Emaar Development profit grows 20% in Q1
Dubai – Mubasher: The net profits of Emaar Development increased by 20% year-on-year (YoY) to AED 781 million in the first quarter (Q1) of 2021, compared to AED 649 million. The company’s revenues rose by 26% to AED 3.848 billion in the …
Financial Results
Revenues rose by 16% to AED 2 billion
11 May 11:24 AM Aldar Q1 profit jumps 80%
Abu Dhabi – Mubasher: Aldar Properties recorded an 80% year-on-year (YoY) surge in net profits during the first quarter (Q1) of 2021, logging AED 544 million. The revenues rose by 16% YoY to AED 2 billion in Q1-21, on the back of a strong growth …
Financial Results
Manufacturing activities plunged 10.6% in January 2021
10 May 03:21 PM Saudi Arabia’s Industrial Production Index declines
Riyadh – Mubasher: The Industrial Production Index of Saudi Arabia decreased by 6.9% year-on-year (YoY) in January 2021, according to a recent report by the Saudi General Authority for Statistics (GaStat). The annual decline was attributed to …
Macroeconomics
The total loan is secured by a promissory note
10 May 03:08 PM MEPCO renews SAR 226m credit facilities deal with Riyad Bank
Riyadh – Mubasher: Middle East Paper Company (MEPCO) has extended a banking facilities agreement worth SAR 225.9 million with Riyad Bank, according to a bourse filing on Monday. The medium-term facilities total SAR 134.6 million and are valid for …
Companies Investments
The main index of ADX inched down 0.14%
10 May 03:05 PM UAE stock markets end Monday on varied note
UAE - Mubasher: The UAE stock markets have closed Monday's trading session on a varied note. The benchmark index of the Dubai Financial Market (DFM) went up 0.35% to settle at 2.696 points by the end of Monday's trading session. A total of 114.38 …
Trading Activities
The new facility is Jarir’s 56th branch in Saudi Arabia
10 May 02:56 PM Jarir inaugurates new showroom
Riyadh – Mubasher: Jarir Marketing Company (Jarir Bookstores) has opened a new Showroom in South Aziziyah district Makkah, according to a bourse disclosure on Monday. The 4,073-square-metre establishment has a total investment cost of SAR 28 …
Companies Investments
The EPS rose by 35.71% in Q1-21
10 May 02:53 PM Salama's net profits hike 84% in Q1-21
Dubai – Mubasher: The net income of Islamic Arab Insurance Company (Salama) surged by 84.43% to AED 24.22 million in the first three months of 2021, compared to AED 13.13 million in the corresponding quarter of 2020, according to the company's …
Financial Results
Revenues increased to SAR 5.82 billion in Q1-21
10 May 02:40 PM Satorp’s net losses widen 4% in Q1
Riyadh – Mubasher: Saudi Aramco Total Refining and Petrochemical Company (Satorp) incurred a net loss after Zakat and tax of SAR 620.91 million during the first quarter (Q1) of 2021, a decrease of 3.8% from SAR 645.81 million in Q1-20. Satorp …
Financial Results
The company generated revenues of AED 5.993 billion in Q1-21
10 May 02:23 PM Emaar Properties' net profits rise 8% in Q1-21
Dubai – Mubasher: The net profits of Emaar Properties increased by 8% to AED 657 million in the first quarter (Q1) of 2021 from AED 609 million in the same quarter of 2020. The company generated revenues of AED 5.993 billion in Q1-21, up 12% from …
Financial Results
Cargo flights will continue to operate between the UAE and those countries
10 May 02:04 PM UAE flights from four countries to be suspended
UAE - Mubasher: The UAE will ban the entry of travellers coming from Bangladesh, Pakistan, Nepal, and Sri Lanka on national and foreign carriers, in addition to transit passengers, starting from 23:59 on Wednesday, 12 May 2021, according to the …
SADAFCO posted a profit per share of SAR 8.14
10 May 01:50 PM SADAFCO records SAR 261m net profits in full year
Riyadh – Mubasher: Saudia Dairy and Foodstuff Company (SADAFCO) achieved a net profit after Zakat and tax worth SAR 260.89 million during the year ended on 31 March 2021. The net income was 1.59% lower than SAR 265.11 million in the prior year, …
Financial Results
The PMI reading recorded the highest level since November 2019
10 May 01:30 PM Dubai's non-oil private sector on track to pre-COVID levels- IHS Markit
UAE - Mubasher: The seasonally adjusted IHS Markit Dubai Purchasing Managers' Index (PMI) increased to 53.5 in April from 51 in March, reflecting a faster recovery across Dubai's non-oil private sector economy. The PMI reading recorded the highest …
Macroeconomics
Seasonally adjusted Saudi GDP declined by 0.1% on a quarterly basis
10 May 01:03 PM Saudi Arabia’s annual GDP contracts by 3.3% in Q1
Riyadh – Mubasher: Saudi Arabia’s gross domestic product (GDP) witnessed a negative annual real growth rate of 3.3% during the first quarter (Q1) of 2021, compared to the same quarter of the previous year, according to flash estimates. The Saudi …
Macroeconomics
The company's net takaful income declined to AED 16.668 million
10 May 12:43 PM Watania records 74% higher profits in Q1-21; lower accumulated losses
Abu Dhabi – Mubasher: The interim financial results of National Takaful Company (Watania) recorded a 74% rise in net profits to AED 3.973 million in the first three months of 2021 from AED 2.272 million in the same period of 2020. The company's …
Financial Results
Sales increased 17.3% YoY to SAR 12.01 million in Q1-21
10 May 12:08 PM Saudi Fisheries Q1 losses shrink 11.5%
Riyadh – Mubasher: Saudi Fisheries Company posted an annual decline of 11.5% in net loss after Zakat and tax to SAR 9.74 million during the first quarter (Q1) of 2021 from SAR 11.01 million in Q1-20. The company’s loss per share stood at SAR 0.24 …
Financial Results
The company's revenues increased to $937,809
10 May 12:06 PM Naeem Holding reports lower losses in Q1-21
Mubasher: The net losses represented in the shareholders' equity of Naeem Holding for Investment decreased to $1.505 million in the first quarter (Q1) of 2021 from $1.665 million in the corresponding quarter of 2020, according to the company's …
Financial Results
Profit per share stood at SAR 0.54 in Q1-21
10 May 11:33 AM BinDawood records SAR 62m net profits in Q1
Riyadh – Mubasher: BinDawood Holding Company registered net profits after Zakat and tax worth SAR 62.11 million during the first quarter (Q1) of 2021, lower by 50.8% from the SAR 126.25 million registered in Q1-20. Profit per share stood at SAR …
Financial Results
The EPS settled at AED 0.007 in Q1-21
10 May 11:23 AM Air Arabia sees 52% lower profits in Q1-21
Dubai – Mubasher: Air Arabia reported a 52% drop in net profits to AED 33.844 million in the first quarter (Q1) of 2021, compared to AED 70.585 million, according to the company's consolidated interim financials for the three-month period ended 31 …
Financial Results
Earnings per share (EPS) stood at SAR 0.08 in Q1-21
10 May 11:09 AM Chubb Arabia achieves lower net profit in Q1
Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company posted a 28% annual decline in net profits before Zakat to SAR 2.42 million during the first quarter (Q1) of 2021, compared with SAR 3.37 million. Earnings per share (EPS) stood at SAR …
Financial Results
The company's revenues jumped by 42%
10 May 10:44 AM Shuaa Capital turns to profitability in Q1-21
Dubai – Mubasher: Shuaa Capital achieved AED 24.97 million net profits attributable to the owners during the first quarter (Q1) of 2021, against net losses of AED 261.895 million in the same quarter of 2020, according to the company's consolidated …
Financial Results
The company's revenues decreased by 13.3%
10 May 10:08 AM ADNOC Distribution sees 58% higher profits in Q1-21
Abu Dhabi – Mubasher: The unaudited interim consolidated financials of Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) showed a 57.9% rise in net profits to AED 631 million in the first quarter (Q1) of 2021 from AED 400 …
Financial Results
The company's revenues reached AED 901 million in Q1-21
10 May 09:43 AM Emaar Malls reports 16% lower profits in Q1-21
Dubai – Mubasher: The net profits of Emaar Malls dropped by 16% to AED 318 million in the first quarter (Q1) of 2021, compared to AED 378 million in the same quarter of 2020. The company's revenues reached AED 901 million in Q1-21, down 10% from …
Real estate
The benchmark index of the DFM went up 0.84%
9 May 02:50 PM UAE stock markets close Sunday's session on positive note
UAE - Mubasher: The UAE stock markets have ended Sunday's trading session in the green zone. The benchmark index of the Dubai Financial Market (DFM) went up 0.84% to settle at 2,686.4 points by the end of Sunday's session. A total of 107.9 million …
Trading Activities
The bank's net income increased to AED 11.724 million
9 May 02:30 PM Emirates Investment Bank turns to profitability in Q1-21
Dubai – Mubasher: Emirates Investment Bank has achieved net profits attributable to the equity holders of AED 7.005 million in the first quarter (Q1) of 2021, compared to net losses of AED 6.07 million in the same period of 2020, according to the …
Financial Results
Ash-sharqiyah Development posted a loss per share of SAR 0.04 in Q1-21
9 May 02:29 PM Ash-sharqiyah Development’s Q1 losses shrink 38.5%
Riyadh – Mubasher: Ash-sharqiyah Development Company registered a net loss after Zakat and tax of SAR 313,942 during the first quarter (Q1) of 2021, lower by 38.45% than SAR 510,141 in Q1-20. The company posted a loss per share of SAR 0.04 in …
Financial Results