DOHA: The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org) and Qatar Development Bank (QDB) have announced the signing of a Memorandum of Understanding (MoU) to bolster mutual business cooperation. The MoU aims to support QDB’s SME Export Development Program and enhance the capabilities of Qatari entrepreneurs and innovators, as well as small and medium enterprises…
Category: MENA
Corporate news and announcements from the stock markets of Middle East and North Africa.
Saudi Arabia’s low-cost airline, flyadeal orders 51 aircraft in landmark Airbus deal
RIYADH, KSA: flyadeal, one of the youngest and fastest growing low-cost airlines in the Kingdom of Saudi Arabia and the Middle East, today announced a landmark order for 51 narrowbody Airbus aircraft to fuel the next phase of its expansion plans. The historic agreement for 12 Airbus A320neos and 39 bigger capacity A321neos was signed…
Gulf Land announces luxury residences in Dubai in partnership with Tonino Lamborghini Group
Dubai, UAE: Gulf Land Property Developers recently announced its collaboration with Tonino Lamborghini Group to develop an upscale residential community in the heart of Dubai. This distinctive development will bear the prestigious Tonino Lamborghini brand, synonymous with Italian quality and sophistication worldwide. The new residential community introduces a fresh perspective to lifestyle living in Dubai…
ADNOC Logistics and Services posts 34% increase in net profit in Q12024
ABU DHABI, UAE: ADNOC Logistics and Services plc (ADNOC L&S), a global energy maritime logistics announced its Q1 2024 financial results. For the first quarter of 2024, ADNOC L&S delivered a net profit of $194 million (AED712 million), or $0.03 (AED 0.10) per share, representing a 34% increase over a net profit of $145 million…
Dana Gas reports decline in earnings in Q12024
SHARJAH, UAE: Dana Gas PJSC, the Middle East’s largest regional private sector natural gas company, announced today its financial results for the quarter ended 31 March 2024. For the first quarter of 2024, the Company generated revenue of AED 356 million ($97m) and net profit of AED 139 million ($38m), marking a reduction versus Q1…
Dubai Taxi Company reports 16% revenue growth in Q1 2024
Dubai, UAE – Dubai Taxi Company PJSC (DTC), the premier mobility solutions provider in Dubai, has released its financial results for the first quarter of 2024, showcasing a continuation of its strong growth trajectory. The company’s revenue saw a significant increase of 16% year-on-year, reaching AED 558.4 million, attributed to enhancements across all operational segments….
Tadawul Group reports remarkable financial growth in Q1 2024
In an announcement, Tadawul Group Holding Co. has released its interim financial results for the quarter ending on March 31, 2024, showcasing significant growth across all financial metrics. The company reported a 72.804% increase in sales/revenue, jumping from SAR 224.3 million in the same quarter of the previous year to SAR 387.6 million. This also…
BHM Capital launches Fixed Income Division
DUBAI: BHM Capital, a leading financial institution in the capital markets of the United Arab Emirates, listed on the Dubai Financial Market, is pleased to announce the launch of the Fixed Income Division, this dedicated department, with over 75 years of collective experience, aims to enhance BHM Capital’s position in local and regional financial markets….
GFH Partners announces $450 million in the US real estate sector
Dubai:: GFH Partners Ltd, a subsidiary of GFH Financial Group, today announced that it has concluded investments totaling US$450 million in the US real estate sector between the fourth quarter of 2023 and the first quarter of 2024. The investments are built on GFH Partners’ thematic investing into the fundamentally strong medical clinics and student…
ADNOC Gas announces $3.25 billion dividend and growth strategy
ABU DHABI, UAE: In its first Annual General Meeting post-IPO, ADNOC Gas shareholders approved a $3.25 billion dividend for 2023, with a final payment of $1.625 billion due in Q2 2024. The company revealed plans to increase dividends by 5% annually over the next four years, reflecting confidence in its revenue prospects. The company’s growth…
AlKhaleej to acquire Adhwa’a Al-Hidaya Schools for Boys and Girls
RIYADH: AlKhaleej has announced a major acquisition deal with Adhwa’a Al-Hidaya Private Schools Company for Boys and Girls. On March 28, 2024, AlKhaleej entered into a share purchase agreement to acquire 80% of the shares in Adhwa’a Al-Hidaya, representing 1,600,000 ordinary shares. This strategic move will result in the issuance of new shares in AlKhaleej,…
Cenomi Retail sells franchise rights of prominent brands to Al Othaim Fashion
Cenomi Retail, a leading retail partner in Saudi Arabia, has entered into a variation agreement to sell the franchise rights of five prominent brands to Abdullah Al-Othaim Fashion Company. This agreement, an extension of the Share Purchase Agreement dated December 6, 2023, marks a significant shift in Cenomi Retail’s focus towards champion brands. The transaction,…