HAIFA, ISRAEL: Elbit Systems Ltd announced it was awarded a contract valued at approximately $46 million to supply VBTP 6X6 Armored Personnel Carriers (APCs) to the army of a country in Asia-Pacific. The contract will be performed over a three-year period. As the prime contractor, Elbit Systems will supply the VBTP 6X6 wheeled APCs that…
Category: MENA
Corporate news and announcements from the stock markets of Middle East and North Africa.
UDC signs agreement to finance development of Gewan Island
DOHA, QATAR: United Development Company (UDC), a leading Qatari shareholding company and the master developer of The Pearl-Qatar and Gewan Islands, has signed an agreement with Qatar National Bank (QNB) and The Commercial Bank to finance development of Gewan Island project with a credit ceiling of QR 1.25 trillion. The signing of this agreement comes…
Hikma and Richter sign agreement for cariprazine
LONDON: Hikma Pharmaceuticals, the multinational pharmaceutical company, and Gedeon Richter PLC announced the signing of an exclusive license agreement to commercialise cariprazine, a novel antipsychotic, in certain Middle East and North African (MENA) markets. Under the terms of the agreement, Richter will be responsible for product supply and Hikma will proceed with the registration and…
Investcorp raises up to $142 million in its maiden private equity India fund
BAHRAIN: Global alternative asset manager Investcorp, announced the final close of its maiden Private Equity Fund offering for India. The fund gained a total capital commitment of around Rs 1000 Crore ($142 million), within a few months of Investcorp establishing its lndia presence. The limited partners of the fund comprise a well-diversified universe of Indian…
Emirates Integrated Telecommunications post profit of AED 464mn
DUBAI, UAE: Emirates Integrated Telecommunications Company (EITC) published its financial results for Q2 2019 ended June 30, 2019, reporting AED 3.19 billion revenues, AED 1.47 billion EBITDA and AED 464 million net profit after royalty for the second quarter of the year. For H1 2019, Emirates Integrated Telecommunications Company (EITC) reported revenues of AED 6.33…
DFM launches Sustainability Strategic Plan 2025 to promote best practices
DUBAI: As part of its leading role amongst regional exchanges as well as its status as ‘The World Class Regional Market place, the Dubai Financial Market (DFM) has launched its Sustainability Strategic Plan 2025 aimed at underpinning its continuous efforts to promote Environmental, Social and Governance (ESG) best practices amongst listed companies and other stakeholders….
Gulf Navigation Holding posts 21% revenue growth in first half of 2019
DUBAI, UAE: Gulf Navigation Holding (GNH), the Dubai Financial Market listed maritime and shipping company, has announced its financial results for the first half of 2019. During the first half of 2019 the Company achieved operating revenue of AED 85.7 million compared to AED 71.1 million during the same period of 2018, a YoY increase…
Emaar partners with Beijing New Aerotropolis Holdings
DUBAI: Leading global developer Emaar joins hands with Beijing New Aerotropolis Holdings to develop the Aero-Economic Area of Beijing Daxing International Airport, a statement issued to Dubai Financial Market (DFM) said. Emaar signed a memorandum of understanding (MoU) with Beijing New Aerotropolis Holdings (BNA) on 23rd July to jointly develop Business and Tourism Complex, integrating…