Emirates Telecom to acquire 50.03% stake in Careem’s super-app business for $400 million
ABU DHABI, UAE: Emirates Telecommunication Group Company (e&) signed a binding agreement with Uber Technologies Inc. to acquire a majority stake of 50.03% in Careem’s...
NOVONIX and TAQAT to setup battery material facility in Saudi Arabia
RIYADH/SYDNEY: NOVONIX Limited has agreed to establish an incorporated joint venture with TAQAT to develop and produce anode materials for electric vehicle and energy storage...
Empower approves distributing AED 425 million dividends to shareholders
DUBAI – UNITED ARAB EMIRATES: The General Assembly of Emirates Central Cooling Systems Corporation PJSC (Empower), in a meeting convened with a quorum of 86.82%...
Standard Chartered to sell its Jordanian business to Arab Jordan Investment Bank
DUBAI, UAE: Standard Chartered plans to sell its Jordanian business to Arab Jordan Investment Bank (AJIB), as the bank presses ahead with plans to exit...
Al Baraka Group wins big at the Islamic Finance News ceremony
MANAMA, BAHRAIN: The Bahrain based Al Baraka Group B.S.C (“ABG” / the “Group”) has announced two of its Units won the prestigious Islamic Finance News...
Dubai Islamic Bank shareholders approve 30% dividend for 2022
DUBAI, UAE: Dubai Islamic Bank (DIB) concluded its Annual General Assembly (AGM) with the approval of the bank’s 2022 financial statements and other tabled resolutions,...
TECOM Group shareholders approve AED 200 million cash dividend for H2 2022
DUBAI, UAE: TECOM Group, the creator of specialised business districts and vibrant communities, held its inaugural Annual General Assembly Meeting at one of its major...
Aramco posts record 46.5% growth in profits to $161.1 billion in 2022
Saudi Arabia’s oil giant Aramco reported a record net income of $161.1 billion for 2022 (46.5% higher than previous year’s $110 billion), the largest annual...
ADNOC Drilling recommends a final dividend of $341.25 million for 2022
ABU DHABI, UAE: ADNOC Drilling Company Board of Directors have recommended a final dividend payment of $341.25 million for 2022, subject to shareholder approval at...
SAUDIA launches “Your Ticket Your Visa” Service
RIYADH, KSA: SAUDIA, the national flag carrier of Saudi Arabia, has announced the launch of “Your Ticket Your Visa”. The first-of-its-kind service provides guests with...
Aramco to invest in a new powertrain technology setup by Geely and Renault
DAHRAN, SAUDI ARABIA: Aramco has signed a letter of intent to become a potential minority stakeholder in a new powertrain technology company (PWT), to be...
Al Areen Holding appoints Eng. Ahlam Zainal as CEO
MANAMA, BAHRAIN: Al Areen Holding Company, a subsidiary of GFH Financial Group engaged in the development of the Al Areen desert project, announced the appointment...