Al Mal Capital is the first REIT listed on Dubai Financial Market (DFM), and managed by Al Mal Capital PSC, a subsidiary of Dubai Investments PJSC. Accordingly, the school campuses have been leased back to the operator for a long-term period on a triple net basis for management and operation. The two acquired schools, part…
Category: MENA
Corporate news and announcements from the stock markets of Middle East and North Africa.
Investment grade ratings of Finance House reaffirmed, stable outlook
ABU DHABI, UAE: Finance House PJSC (FH)’s Short-Term Foreign Currency Rating (ST FCR) at “A3” and Long-Term Foreign Currency Rating (LT FCR) at “BBB-” were both reaffirmed with a stable outlook by Capital Intelligence (CI), the international credit rating agency. Mohammed Abdulla Alqubaisi, Founder of Finance House, commented: “We are very proud of the reaffirmation…
Yahsat to be added to the FTSE UAE Small Cap Index
ABU DHABI, UAE: Al Yah Satellite Communications Company (Yahsat), UAE’s flagship satellite solutions provider is to be added to the FTSE UAE Small Cap Index, a news release said. Yahsat is listed on the Abu Dhabi Securities Exchange (ADX). By virtue of being a constituent of the FTSE UAE Small Cap Index, Yahsat will also…
ADNOC & TAQA launch renewable energy and green hydrogen venture
ABU DHABI, UAE: Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council, Chairman of the Abu Dhabi Executive Office, and Chairman of the Executive Committee of the Board of Directors of Abu Dhabi National Oil Company (ADNOC), launched a new global renewable energy and green hydrogen venture between ADNOC…
Nasser Abdulla Al Awadhi appointed Group CEO of ADIB
ABU DHABI, UAE: Abu Dhabi Islamic Bank’s (ADIB) Board of Directors announced the appointment of UAE National Nasser Abdulla Al Awadhi as ADIB’s new Group Chief Executive Officer starting from January 9th 2022 subsequent to UAE Central Bank approval. Nasser brings over 33 years of experience in banking and is a leading practitioner in Islamic…
GFH Financial acquires 60% stake in Multi-Specialty Healthcare for $100mn
BAHRAIN: GFH Financial Group announced the acquisition of a 60% stake in the UAE’s leading provider of multi-specialty healthcare, Multi-Specialty Healthcare Partner Holding Ltd., in a deal value exceeding US$100 million. The company is the only diversified multi-specialty healthcare chain in Abu Dhabi and Al Ain and is one of the few in the UAE…
Al Salam Bank wins at Asiamoney Awards
MANAMA, BAHRAIN: Al Salam Bank was recently awarded as the ‘Best Domestic Bank in Bahrain – 2021’ as part of Asiamoney Middle East’s line up of awards for Best Bank. Bank has depicted solid financial performance and unwavering initiative in providing a diversified portfolio of banking products and services. The Asiamoney Awards, which fall under…
Emaar achieves highest ever property sales of $7.12bn
DUBAI, UNITED ARAB EMIRATES: Emaar Properties (DFM: EMAAR) has achieved an impressive growth in property sales in nine months ended September 30, 2021 which increased by over 236 per cent to AED 26.146 billion (US$ 7.118 billion) compared to the same period in 2020. Led by its UAE development business and complemented by its international…
Gulf International Bank posts profits
BAHRAIN: Gulf International Bank (GIB) has announced its period ended 30th September 2021 financial results. The third quarter of 2021 witnessed a significant increase in net profit attributable to the Shareholders of the Bank, reaching $21.2 million compared to a loss of $59.9 million in the same quarter last year. The increase is driven by…
Arkan Building Materials appoints Chairman, CEO
ABU DHABI, UNITED ARAB EMIRATES: Arkan Building Materials Co. (ADX: ARKAN) has appointed the company’s Chairman, Vice Chairman, and Group CEO during its Board of Directors meeting. The strategic combination of Arkan and Emirates Steel created the UAE’s largest steel and building materials company, Arkan Building Materials Co. This follows the appointment of Arkan’s new…
MSCI Includes Yahsat in its Global Indices
ABU DHABI, UNITED ARAB EMIRATES: Al Yah Satellite Communications Company (ADX: Yahsat), the UAE’s flagship satellite solutions provider, has been included as a constituent of the MSCI Small Cap Indices, including the MSCI All Country World Index (ACWI) Small Cap Index, MSCI Emerging Markets Small Cap Index, and the MSCI UAE Small Cap Index after…
DAMAC Properties announces AED2.39 billion revenue
DUBAI, UAE: DAMAC Properties Dubai (DFM: DAMAC) announced financial results for the nine month ended September 2021, reporting Revenue of AED 2,394 million, booked sales of AED 4.1 billion and deliveries of c.4,400 units in Dubai. Gross profit of AED 707 million was 15% lower than similar period last year’s gross profit of AED 828…