UAE posts budget surplus in 2022, revenues up 31.8%

UAE posts budget surplus in 2022, revenues up 31.8%

State expenditures rose moderately in 2022, with an increase of Dhs24.7bn compared to a year earlier

Tanmiah posts SAR983.1m in H1 revenues

Tanmiah H1 revenue surges to SAR983.1m on poultry sales

The food manufacturer’s half-year profit increased by 2.2 per cent to SAR32.4m from SAR31.7m a year earlier

Yahsat’s half-year revenues down 2% to $205m

Abu Dhabi’s Yahsat posts $205m in half-year revenue

The company’s mobility solutions registered strong double-digit growth in the second quarter of the year, up 12 per cent

ADNOC Gas reports $2.3bn in half-year net income

ADNOC Gas’ H1 2023 net income plunges to $2.3bn

Brent crude oil prices, which are used for gas pricing, decreased by nearly 31 per cent during the period under review

Burjeel Holdings’ half-year profit up 47% to Dhs225m

Burjeel Holdings’ half-year profit up 47% to Dhs225m

The healthcare services provider’s H1 revenues surged by 13.9 per cent year-on-year to Dhs2.2bn, driven by an increase in patient footfall

AD Ports Group Khalifa Port

AD Ports Group’s first-quarter revenue jumps by 73%

The shipping and logistics group’s revenue in the first three months of the year reached Dhs1.81bn from Dhs1.04 a year earlier

UAE telecom operator du posts 10.8% growth in 2022 net profit

UAE telecom operator du posts 10.8% growth in 2022 net profit

Full-year revenues grew by 9.2 per cent to total Dhs12.75bn, while EBITDA increased by 12 per cent to equal Dhs5.14bn


Dubai’s DEWA reports 22% rise in consolidated net profit for 2022

DEWA’s annual consolidated revenue increased 15 per cent to Dhs27.35bn in 2022

FY 2022-23: Dubai's Emirates records $1.2bn in half-year net profit

FY 2022-23: Dubai’s Emirates records $1.2bn in half-year net profit

The group’s revenue stood at $15.3bn for the first six months of 2022-23, up 128 per cent from $6.7bn last year


Abu Dhabi’s Fertiglobe reports 84% rise in adjusted net profit for Q3 2022

The company’s Q3 2022 revenues increased 52 per cent year-on-year to total $1.32bn

Investment Corporation of Dubai

Investment Corporation of Dubai reports Dhs10.1bn in net profit for 2021

Its revenues for 2021 equalled Dhs169.4bn, up 24.5 per cent compared to the previous year

Dubai’s Emirates Group cuts annual loss by 83% to $1bn for FY 2021-22

“We expect the group to return to profitability in 2022-23″ – Sheikh Ahmed bin Saeed, Emirates Group chairman

UAE’s e& reports 3.2% rise in consolidated net profit for 2021

During 2021, its aggregate subscriber base reached 159 million

Saudi Arabia sees 2022 budget surplus, first in eight years

Officials expect the economy to expand 2.9 per cent this year and grow by a further 7.4 per cent in 2022

Abu Dhabi Ports buoyed by surge in cargo volumes ahead of IPO

Revenue rose to Dhs2.8bn from Dhs2.3bn

Abu Dhabi’s TAQA reports net income of Dhs4.3bn for first nine months of 2021

Group revenues equalled Dhs34.3bn, 11 per cent higher than an year-earlier period

Emirates Dubai Airport

Dubai’s Emirates Group reports $1.6bn half-year net loss

The group’s revenue totaled Dhs24.7bn for the first six months of 2021-22

UAE telecom operator du reports 11.4% increase in net profit for Q2 2021

The board of directors approved an interim dividend of Dhs0.10 per share

Chemicals maker Sabic’s profit surges as economies reopen

Revenue rose 24 per cent year-on-year to SAR37.5bn and 14 per cent from the previous quarter

Citi retail units seen fetching $6bn as sales kick off

Citigroup ultimately plans to exit retail-banking operations in Australia, Bahrain, China, India, Indonesia, South Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand and Vietnam

Abu Dhabi Islamic Bank posts 38% dip in net profit for 2020; approves 46.6% cash dividend

Its revenues also pared to Dhs5.35bn in 2020

One-time pioneer LG Electronics to close smartphone business

Phones constituted 8.2 per cent of LG sales last year

DXB Entertainments posts net loss of Dhs2.7bn for 2020

The company reported revenues of Dhs144m for the year ended December 31, 2020, 71 per cent lower than Dhs491m in 2019

How open banking can foster innovation in the financial landscape

Open banking offers potential for better customer experience and additional revenue streams

Digital Economy: UAE consumers to pivot away from cash – report

Young and digitally savvy populations across the Middle East and Africa region are key to long-term growth outlook

Sheikh Mohammed

Sheikh Mohammed approves Dhs57.1bn spend in 2021 Dubai budget

The programme takes into account “the exceptional economic conditions of the fiscal year 2020″

Saudi Arabia plans spending cuts in 2021 as economy recovers

The kingdom will stick to its plan to cut spending by 7.3 per cent in 2021

Saudi Arabia to review VAT hike once economic crisis ends

The VAT hike to 15 per cent, was implemented in July this year

Dubai’s Emaar Properties posts 45% slump in net profit for Q1-Q3 2020

The developer’s revenue figures for Q1-Q3 2020 totaled Dhs13.37bn

First Abu Dhabi Bank

FAB reports 19.3% dip in net profit for Q3 2020

Third quarter net profit rose 4 per cent sequentially