Business & Money | Saturday 5 August, 2023 11:57 am

Dubai investments H1 2023 net profit surges 59% to AED 580 million

Dubai Investments, the leading diversified investment company listed on the Dubai Financial Market [DFM], has announced a 59 percent increase in net profit to AED 580 million for the six-month period ended June 30th 2023, as compared to AED 364 million during the corresponding period in 2022.The...

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Business & Money | Saturday 5 August, 2023 11:52 am

ADNOC Gas reports revenue of AED 38.9 billion in H1 2023

ADNOC Gas today announced its financial results for the three months and six months ended 30th June, 2023 (Q2 2023) and (H1 2023).The Company’s H1 2023 revenue stood at a AED 38.9 billion (US$10.6 billion) compared to Pro Forma Adjusted Revenue of AED 48.8 billion (US$13.3 billion) in H1 2022,...

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Business & Money | Saturday 5 August, 2023 1:55 am

Nile raises $175 mln in round led by Sanabil Investments, stc

Networking startup Nile raised nearly $175 million in a new round led by Sanabil Investments, a subsidiary of the Public Investment Fund (PIF), and March Capital.   In a statement, the company said the new round witnessed the participation of investors from several companies,...

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Business & Money | Friday 4 August, 2023 4:47 pm

EXIM Bank says 2022 credit facilities total SAR 13.6 bln

The Saudi Export-Import Bank (EXIM Bank) offered SAR 13.58 billion credit facilities in 2022, of which requests for export credit insurance and export financing reached SAR 9 billion and SAR 4.58 billion, respectively. According to the bank's annual report, the total amount of requests...

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Business & Money | Friday 4 August, 2023 4:40 pm

NHC offers 12,000 residential units via Sakani platform

The National Housing Co. (NHC) offered 12,000 new residential units for reservation via Sakani platform, at competitive prices starting from SAR 350,000.   The move is part of the company's efforts to provide more integrated housing options across the Kingdom, at affordable prices....

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Business & Money | Friday 4 August, 2023 1:29 am

EDGE Group Receives High Level Brazilian Marine Corps Delegation

EDGE Group PJSC (EDGE), one of the world’s leading advanced technology and defence groups, hosted a high-ranking delegation from the Brazilian Marine Corps at its headquarters and manufacturing and testing facilities in Abu Dhabi. During the four-day visit, EDGE briefed the delegation on its...

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Business & Money | Friday 4 August, 2023 1:19 am

PROVEN Arabia announces three strategic leadership changes for the group

PROVEN Arabia, a Saudi Arabia-based holding company with a diversified portfolio of corporate brands providing comprehensive solutions for the Middle East market, has revealed three key executive changes as it continues to pursue its new business vision. Hilel Baroud who takes charge as Chief...

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Business & Money | Friday 4 August, 2023 1:14 am

DUBAL Holding, Oriental Copper to manufacture high-quality copper products in UAE

DUBAL Holding, the investment arm of Dubai Government in the commodities, mining, power, energy, and industrial sectors, has signed a Memorandum of Understanding (MoU) with Oriental Copper, a manufacturer of high conductivity copper products in Thailand, to manufacture high-quality copper products...

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Business & Money | Friday 4 August, 2023 12:34 am

The Pearl Initiative and stc deliver Business Ethics and Integrity Awareness Sessions to Saudi Students

The Pearl Initiative, a non-profit organisation focused on corporate accountability and transparency in the Gulf region, recently held two Business Pledge sessions with universities in Saudi Arabia, engaging over 230 students from Princess Nourah Bint Abdul Rahman University and Prince Sultan...

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Business & Money | Friday 4 August, 2023 12:31 am

EIH Ethmar International Holding acquires stake in Gewan Holding

EIH Ethmar International Holding PJSC "EIH" and Gewan Holding "Gewan", two leading companies based in Abu Dhabi, have announced a strategic acquisition of a stake in Gewan Holding. This acquisition aims to diversify and expand into sectors in which EIH invests and is driven by the comprehensive...

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