ABU DHABI: Abu Dhabi National Energy Company (TAQA) announced today the successful placement of an aggregate US$1.5 billion in 7-year and 30-year dual-tranche senior unsecured notes. The 7-year notes, sized at $750 million and maturing April 2028, were issued at a coupon rate of 2.0%. The 30-year notes, also sized at $750 million and maturing…
Category: MENA
Corporate news and announcements from the stock markets of Middle East and North Africa.
Dubai Investments reports surge in profits to AED 123.8 million in Q1
DUBAI: Dubai Investments PJSC has reported a surge in Q1 2021 net profit to AED 123.8 million compared to a loss of AED 6.8 million in the same period last year. Total income increased to AED 637.6 million compared to AED 464.8 million in the first quarter of 2020, on the back of strong performances…
Qatar listed companies report 30.74% jump in profits
DOHA: All of Qatar Stock Exchange listed companies – with the exception of Qatar General Insurance & Reinsurance Company – have disclosed their financial results for the period ended March 31, 2021. The results show a net profit of QR 10.92 billion compared to QR 8.36 billion for the same period last year, the mount…
Ooredoo extends exclusivity period with CK Hutchison to combine Indonesian businesses
DOHA, QATAR: Ooredoo Q.P.S.C. has extended the period of exclusivity for the non-legally binding Memorandum of Understanding (MoU) with CK Hutchison Holdings Limited in relation to a possible transaction to combine their respective telecommunications businesses in Indonesia, PT Indosat Tbk and PT Hutchison 3 Indonesia, until 30 June 2021. This extension will provide more time…
eGate Egypt becomes exclusive distributor of Lleida.net services in Egypt
CAIRO: eGate Egypt has signed an agreement with Lleida.net to distribute all the services catalogue of Lleida.net, a news release said. Through the agreement, eGate Egypt becomes with immediate effect the exclusive distributor of Lleida.net services in Egypt. Lleida.net’s is partnering up with leading technology companies like eGate Egypt to provide its SaaS service line…
ADES secures contract renewals for seven offshore rigs in KSA
DUBAI, UK: ADES International Holding, leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA) has secured contract renewals for seven of its rigs in Kingdom of Saudi Arabia (KSA). The contracts cover offshore rigs AD 655, AD 656, AD 266 and AD 261, and onshore rigs ADES…
Drake & Scull International wins over AED376 million contracts
DUBAI: Drake & Scull International (DSI) has won contracts of over AED 376 million in Tunisia, India and Palestine, a news release said. Drake & Scull International (DSI) is a market leader in electromechanical, integrated design, engineering, and construction, for water, power and oil and gas sectors. The company is also bidding for several projects,…
Orascom adds $650 million to its backlog in Q1 2021
DUBAI: Orascom Construction PLC announces that it has added USD 650 million of new awards to its backlog in Q1 2021. These new awards mark an increase of 8% y-o-y over the level in Q1 2020. Projects in Egypt comprised 85% of new awards during Q1 2021 as the Group added contracts across the healthcare,…
Gulf International Bank wins at The Digital Banker Middle East & Africa Innovation Awards 2021
MANAMA: Gulf International Bank (GIB) has been named winner in eight key categories by The Digital Banker Middle East & Africa Innovation Awards 2021, a news release said. For its success over the past year and demonstrated excellence in the provision of innovative solutions, GIB was honoured as Best Trade Finance Bank for the Trade Finance category,…
Dana Gas terminates agreement for sale of its Egyptian assets
SHARJAH, UAE: Dana Gas PJSC has terminated its agreement for the sale of its Egyptian assets, announced on 25th October 2020, a news release said. A number of conditions precedent to the transaction could not be completed to the satisfaction of both parties prior to the long stop date of the Sale and Purchase Agreement…
Roebuck Asset Management sold Avonmouth logistics center in UK for $123 million
MANAMA, BAHRAIN: Roebuck Asset Management has concluded an off-market sale of Accolade Park to Tritax Big Box REIT Plc for $123 million, a news release said. Roebuck Asset Management is the UK subsidiary of Bahrain based GFH Financial Group. Accolade Park is a prime logistics centre in the UK comprising of 875,000 sq ft located…
DP World reports 10% volume growth in 1Q
DUBAI: DP World Limited handled 18.9 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first quarter of 2021, with gross container volumes increasing by 10.2% year-on-year on a reported basis and up 9.6% on a like-for-like basis. The first quarter witnessed a strong start to the year and all…