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Salik Q3 2022 earnings

Dubai’s Salik reports net profit of Dhs242m for Q3 2022

Salik’s Q3 revenue increased 9.1 per cent YoY to Dhs445m, with travel activity fast approaching pre-Covid levels

EX Sports strengthens partnership with Ju-Jitsu International Federation

EX Sports strengthens partnership with Ju-Jitsu International Federation

EX Sports once again gave all of the athletes participating in the event the opportunity to mint and publish their own NFTs

Danube group launches largest indoor sports facility in Middle East

Danube group launches largest indoor sports facility in Middle East

The 25 metres high temperature-controlled inflated dome features indoor cricket, padel tennis, badminton, football, table tennis, boxing courts and comes with 150 car parking facility

Agthia

UAE’s Agthia Group reports 14% rise in net profit for Q3 2022

The group’s total assets stood at Dhs6.6bn as of September 30, 2022

IHC announces profits for nine month period

Abu Dhabi-based IHC reports 236 per cent rise in profit for first nine months

Continued momentum in direct and indirect acquisitions were the main drivers behind the growth rate over the previous year’s quarter, with IHC’s total assets increasing to Dhs198.8bn

OPEC+ cuts that steadied market now bring risk of $100 crude

OPEC+ cuts that steadied market now bring risk of $100 crude

Brent rose to a two-month high of $99.56 a barrel on Monday, before paring gains

Saudi’s Seera Group reports $8m in operating profit for Q3 2022

Seera’s travel platform, Almosafer, reported a 74 per cent rise in revenue, totalling SAR155m in the third quarter of 2022

EX Sports and Gumball to host free supercar and street football event in Dubai

EX-Sports and Gumball to host supercar and street football event in Dubai

The one-day festival will be held on November 12 at Emaar Burj Park

Hub71

Hub71, Yahsat partner to advance UAE’s mobile satellite capabilities

Hub71 startup, Mental VR, secures first contract resulting from new partnership to support Yahsat with remote learning

Dr Christopher Daniel_MD and senior partner BCG

Insights: Looking ahead into the future of government

We explore the four fundamental changes governments should make to better meet today’s complex challenges

Abu Dhabi’s Adnoc acquires 24.9% stake in OMV

ADQ, Veolia, Vision Invest acquire ADNOC Refining’s waste management operations

ADQ, Veolia, and Vision Invest will own and operate two waste management plants, which sustainably treat and dispose of industrial waste generated from across ADNOC’s operations

DP World partners with Lin-Gang Special Area to develop Chinese trade zone

The Lin-Gang Special Area offers some of the most innovative and forward-looking business policies for both Chinese and international companies beyond normal free zones offerings

ADNOC awards $4bn agreements for integrated drilling fluids services

ADNOC awards $4bn agreements for integrated drilling fluids services

The agreements were awarded to ADNOC Drilling Company, Schlumberger Middle East and Halliburton Worldwide Limited Abu Dhabi

Dubai telecom operator Du posts $87m net profit

UAE’s du reports 12.7% rise in net profit for Q3 2022

The increase in service revenues lifted the gross margin to 65.2 per cent compared to 62.2 per cent in Q3 2021

Abu Dhabi Airports

Abu Dhabi Airports unveils new brand identity

The new corporate identity underpins future growth plans for the airports operator

Borouge

Abu Dhabi’s Borouge reports 13.5% rise in nine-month revenue

The company’s revenue for the three months ending September 30, grew 8 percent year-on-year to equal $1.67bn

First Etihad Airways flight using SAF departs Tokyo

Flight EY871 departed Tokyo Narita airport at 3pm on Thursday, October 27

Emirates NBD

Emirates NBD reports 25% rise in net profit for first nine months of 2022

The lender posted total income of Dhs22.7bn, rising 31 per cent year-on-year

First Abu Dhabi Bank reports 19% rise in nine-month net profit

The bank’s total income for the first nine months of the year stood at Dhs18bn, up 13 per cent year-on-year over the previous year

Adidas ends partnership with Kanye West over antisemitic remarks

Adidas ends partnership with Kanye West over antisemitic remarks

Adidas would join Gap and Balenciaga fashion label in prematurely cutting ties with West

Abu Dhabi Global Market

Aliph Capital secures $125m investment from Abu Dhabi’s ADQ

Aliph Capital will seek to acquire sizeable positions in privately owned mid-market companies across the GCC

Saudi British Bank reports 26% rise in net profit for Q3 2022

The bank’s loan portfolio grew to SAR189bn, marking an increase of 4 per cent during the third quarter

ADNOC Drilling Rig at Upper Zakum

ADNOC Drilling sets new record for longest well at Upper Zakum Concession

Stretching 50,000 feet, the well is around 800 feet longer than the previous world record set in 2017

Former head of Portuguese national carrier named CEO of Etihad Aviation Group

Antonoaldo Neves succeeds Tony Douglas, who will serve during his transition period as an advisor to the board of ADQ Aviation and Aerospace Services Company

National Bank of Kuwait reports $1.2bn in net profit

National Bank of Kuwait reports $1.2bn in net profit for first nine months of 2022

Net profit increased 46.9 per cent year-on-year from $819.9m recorded during the same period last year

Etihad Aviation Group ownership transferred to ADQ

Full ownership of Etihad Aviation Group transferred to ADQ

Earlier this year, Etihad Aviation Group’s ancillary businesses moved to holding company ADQ’s portfolio to form an integrated aviation support services company

Joanne Chehab TikTok

TikTok’s Joanne Chehab on fandom psychology during sports events

The digital platform’s Head of Business Partnerships for Managed Services, MENA, explains how human behaviour around mega sports events should inform brand campaigns

ADNOC awards $980m contract

ADNOC awards $980m contract to spur UAE’s offshore energy resources

Over 80 per cent of the contract value will flow back into the country’s economy under ADNOC’s In-Country Value programme

ADNOC

ADNOC Drilling awarded $1.53bn contract to help expand ADNOC’s offshore operations

Over 80 per cent of the award value will flow back into the UAE’s economy under ADNOC’s In-Country Value programme

Gold is heading East as a falling price lures Asian buyers

Since peaking in March, gold prices have tumbled 18 per cent as the Federal Reserve’s rate hikes caused mass liquidation by financial investors