Corporate news and announcements from the stock markets of Middle East and North Africa.
DHAHRAN: Saudi Aramco said Tuesday that its net income climbed 44% in the second quarter, as oil prices spiked amid an unprecedented disruption to shipping through the Strait of Hormuz, even as the state-controlled energy giant reported that facilities in the Kingdom had come under attack. The world’s largest oil producer posted second-quarter net income of $32.7…
KUWAIT CITY: In a landmark move that marks the largest foreign direct investment in Kuwait’s history, state-owned Kuwait Petroleum Corporation (KPC) announced today that its subsidiary Kuwait Oil Company (KOC) has signed a $16.0 billion lease-and-lease-back agreement involving its entire domestic and export pipeline network. The deal brings together a consortium of global investment heavyweights—Blackstone, Brookfield, and KKR—in a…
DUBAI: du, a telecom and digital services provider, on Wednesday announced the launch of du Ventures, a $50 million corporate venture fund formed in partnership with investment firm Shorooq. The fund aims to accelerate digital innovation across the UAE and the broader region, marking du’s push beyond traditional telecom services and toward a broader digital ecosystem role. du…
ABU DHABI – Emirates Steel Arkan (ADX: EMSTEEL), one of the region’s largest steel makers, has signed a 20-year liquefied natural gas supply agreement with ADNOC Gas worth between $3.5 billion and $4.2 billion, the companies said on Wednesday. The agreement, effective from January 1, 2027, will ensure a stable and reliable supply of natural gas…
ABU DHABI — Uber on Wednesday rolled out fully driverless rides in Abu Dhabi, marking its fourth market for autonomous vehicles and the first robotaxi service in the Middle East. The ride-hailing giant partnered with Chinese autonomous vehicle company WeRide to deploy the service in select areas of Yas Island. Riders can book a WeRide…
RIYADH – Saudi Arabia’s Tanmiah Food Company has signed three memorandums of understanding (MoUs) with industrial technology firm Schneider Electric and local firms Strataphy and Kayes Arabia to accelerate its decarbonization plans and improve energy efficiency, the company said on Sunday. The agreements, announced at the Saudi Agri-Food Tech Alliance (SAFTA) Forum in Riyadh, are…
RIYADH— Ghanem, a digital real estate platform specializing in fractional ownership solutions, announced Monday it has closed a $7.1 million funding round from Al-Romaih Group, one of the Kingdom’s leading investment firms with deep expertise in real estate and financial services. The investment marks a significant milestone for Ghanem as it works to broaden access…
ABU DHABI: Multiply Group PJSC has completed its acquisition of a majority stake in Ghitha Holding PJSC from International Holding Company PJSC (IHC), the companies announced Thursday. The transaction follows IHC’s general assembly meeting on Nov. 12, where shareholders approved the sale of all shares held in Ghitha by two IHC subsidiaries. IHC Food Holding…
ABU DHABI: Investcorp Capital PLC said on Friday it had acquired Kanawha Scales & Systems (KSS), a U.S. provider of industrial weighing services, from American Equipment Holdings. The acquisition, arranged by Investcorp Capital’s founding company Investcorp, expands the Abu Dhabi-listed firm’s portfolio of U.S. industrial assets. Financial terms of the deal were not disclosed. Headquartered…
DUBAI: Dubai Islamic Bank (DIB) announced on Nov. 14, 2025, that it has successfully priced a $1 billion debut Sustainability-Linked Sukuk. The five-year issuance carries a profit rate of 4.572% per annum. The sukuk marks DIB’s first use of a sustainability-linked structure, which ties the financial terms directly to the bank’s performance on pre-agreed environmental,…
DUBAI: Ajman Bank and BHM Capital have signed a strategic partnership agreement to launch a Sharia-compliant Equity Financing Program aimed at expanding investor access to UAE capital markets. The initiative will allow investors to obtain financing from Ajman Bank to purchase Sharia-compliant shares listed on local exchanges, with BHM Capital executing trades through its brokerage…
DUBAI: Dubai Investments, a leading diversified investment company, announced Thursday that its profit before tax surged 59% for the first nine months of 2025, citing strong performance in its real estate and manufacturing sectors. In a financial update, the company reported a profit before tax of 1.10 billion UAE dirhams ($299.5 million) for the period…