Dubai’s Shuaa Capital Q1 net profit falls due to asset write-down
Dubai-based investment bank Shuaa Capital has posted a drop in Q1 2022 net profit after writing down intangible assets worth 31 million dirhams ($8.4 million). Attributable net profit for the period fell to 5.6 million dirhams, compared to 24.9 million posted in the year-ago period last year, the company said in a statement on Thursday […]
RAK Ceramics posts solid Q1 results, revenue surges to $231mln
RAK Ceramics, one of the world’s largest ceramics brands based in Ras Al Khaimah, has reported a total revenue of AED783.1 million ($213 million, up 8.3% over the same period last year despite the ongoing economic challenges weighing in namely on input prices, energy costs and supply chain. Announcing its financial results for the first […]
Abu Dhabi bourse announces its first green bond listing
The Abu Dhabi Securities Exchange (ADX) announced on Thursday the listing of its first green bond, which is expected to contribute to the UAE’s efforts towards a net-zero future in 2050. The $700 million fixed-rate amortising senior secured green bonds were issued by solar energy firm Sweihan PV Power Company (SPPC), which operates Noor Abu […]
Deyaar sees 67% higher profits in Q1-22
Deyaar Development reported a 67% year-on-year (YoY) surge in its net profits to AED 25.06 million in the first quarter (Q1) of 2022 from AED 15.05 million, according to the company’s unaudited consolidated financials for the three-month period ended 31 March 2022. The company generated revenues of AED 161.89 million in Q1-22, up 9% from […]
Emirates Steel Arkan posts profits in Q1-22
The net profits of Emirates Steel Arkan skyrocketed to AED 72.58 million in the first quarter (Q1) of 2022, compared to AED 1.22 million in the year-ago period, according to the company’s unaudited consolidated interim financials for the three-month period ended 31 March 2022. The company’s revenues amounted to AED 2.04 billion in the first […]
Agthia records 64% rise in Q1-22 profits
The net profits attributable to the owner of Agthia Group surged by 64% to AED 82.19 million in the first quarter (Q1) of 2022 from AED 49.58 million in the same period of 2021, according to the company’s unaudited consolidated financials for the three-month period ended 31 March 2022. The company generated revenues of AED […]
GFH to list its shares on the Abu Dhabi Securities Exchange in May
GFH Financial Group B.S.C (“GFH” or “the Group”) today announced that the targeted cross listing of its shares on the Abu Dhabi Securities Exchange (ADX) is expected to take place in May 2022 subject to the final regulatory approvals. This will be the Group’s fourth regional listing, with GFH shares already actively traded on the […]
QMM becomes market maker for Chimera Capital’s ADX-listed ETFs
Chimera Capital LLC, an Abu-Dhabi-based investment management firm and subsidiary of Chimera Investment LLC, announced that Q Market Makers (QMM) has become a market maker for its four Exchange Traded Funds (ETFs) listed on the Abu Dhabi Securities Exchange (ADX). QMM, part of ADQ, was launched in 2020, and has, over the past 18 months, […]
NMDC’s unaudited profits up 38% in Q1-22
The net profits attributable to the shareholders of National Marine Dredging Company (NMDC) jumped by around 38% to AED 65.38 million in the first quarter (Q1) of 2022 from AED 26.54 million in Q1-21, according to the company’s unaudited financials for the three-month period ended 31 March 2022. The company’s revenues increased to AED 1.55 […]
Abu Dhabi stock exchange seeks more private sector listings
he Abu Dhabi Securities Exchange (ADX) has rebranded its “Second Market” as “Growth Market” to attract more private sector listings. The rebranding of the platform, which has a market capitalisation of 62 billion dirhams ($16.8 billion), follows the unveiling of a new brand and logo for the local bourse last year. The Growth Market offers […]