The company paid its shareholders a total of Dhs3.7bn consisting of an interim dividend of Dhs2.2bn in July and a further D1.5bn at the end of 2022 UAE’s Emirates Global Aluminium (EGA) said its annual net profit rose by 34 per cent to $2.8bn (Dhs7.4bn) in 2022, from $1.5bn in the...

Sheikh Mohammed says UAE space mission a source of pride for all Arabs AUAE astronaut phoned home to talk to the Dubai ruler and people in his beloved homeland. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, held a live...

Crypto Oasis hosted top organisations and players in the regional ecosystem for its annual Ecosystem Night Crypto Oasis hosted top organisations and players from the global industry at its annual Ecosystem Night on March 2, 2023. The event aimed to celebrate the most recent...

Dubai has opened the UAE’s largest heritage museum and wants to attract more than a million visitors by 2025. The Shindagha Museum will tell the history of Dubai and gives an insight into the history of the emirate and its development over the decades. The new museum is spread...

UAE and Saudi Arabia dominate MENA IPO plans in 2023 The UAE and Saudi Arabia will lead IPO markets in the MENA region, according to EFG Hermes analysts. Karim Awad, Group CEO of EFG Hermes Holding, said: “’The IPO markets in MENA have seen strong momentum last year led by GCC...

Majid Al Futtaim Reports Strong 2022 Financial Results with 12% Revenue Growth Majid Al Futtaim has announced its audited operational and financial results for 2022 , showcasing a 12% increase in revenue to Dhs36.3bn . The company’s EBITDA grew by 4% to Dhs4.1bn , fueled by strong...

Dubai saw 3,397 transactions and $3.1bn change hands this week Dubai recorded real estate and properties transactions valued at AED11.5bn ($3.1bn) this week. According to figures from the city land department. In total there were 3,397 transactions. 228 plots were sold for...

Abu Dhabi saw real estate transactions boom in 2022 Abu Dhabi’s Department of Municipalities and Transport recorded 19,033 transactions, reaching a total value of AED77.6bn ($21bn) in 2022. Abu Dhabi’s real estate sector saw 9,010 sales transactions worth AED23.5bn ($6.4bn) and...

Dubai to Philippines flights boosted by Emirates deal Emirates and Philippine Airlines have signed an interline agreement to boost connectivity for passengers of both air carriers to new points on each other’s networks via Manila and Dubai, using a single ticket and one baggage policy....

The use of hybrid power land drilling rigs is an essential element of ADNOC Drilling’s decarbonisation strategy ADNOC Drilling is set to acquire ten new-build hybrid power land drilling rigs for $252m, with the aim to increase its onshore capacity and meet ADNOC Group’s accelerated...