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Dubai’s Empower set to raise $362mln in IPO
Dubai government–backed district cooling company Empower, which is planning to sell 10% stake in an IPO, has set the price range at between 1.31 and 1.33 dirhams ($0.35 and $0.36) […]
ADNOC ‘in talks’ to acquire or invest in energy trader Gunvor Group – report
Abu Dhabi National Oil Company (ADNOC) is reportedly looking for a partial or full acquisition of Geneva-based Gunvor Group, according to a Bloomberg report. The state-run oil producer has conducted […]
Feriglobe records block trading deal of $101.08mln
The Abu Dhabi Securities Exchange (ADX) announced a block trading deal of AED 371.35 million on the shares of Feriglobe, a joint venture (JV) between ADNOC and OCI. […]
Nasdaq-listed Anghami’s revenues hit $35.5mln in 2021
Anghami, the first Arab tech company listed on Nasdaq, has generated total revenues of $35.5 million in 2021, up 16% year-on-year (YoY). The Abu Dhabi-headquartered company’s subscription revenues amounted […]
UAE top banks’ profits, margin levels ‘take a hit’ in Q1
The profitability of the top ten UAE banks has deteriorated marginally by 0.3% in Q1 2022 and return on asset (RoA) remained flat at 1.4% during the quarter compared […]
Ithmaar Holding’s profits down 87% in Q1-22
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 […]
Abu Dhabi-listed pharma Julphar more than doubles sales after turnaround plan
Gulf Pharmaceutical Industries (Julphar), one of the region’s biggest drug manufacturers, swung to a net profit in the first quarter of 2022 as sales more than doubled following a “strategic […]
Amlak Finance sees higher profits in Q1-22; accumulated losses hit 86% of capital
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 […]
Emaar Development’s profits up 34% in Q1-22
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 […]
Emirates Investment Bank turns to losses in Q1-22
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 […]