Company News

Dana Gas nine months net profit falls

(Gulf News - 11/15/2018 9:06:00 AM)

Dana Gas said on Wednesday its nine months net profit fell to Dh149 million from Dh458 million in the same period last year. However, revenues in the same period rose 6 per cent at Dh351 million. The increase in revenue, driven by higher realised ...

Acquisition and stake sale drive Tabreed’s net profit

(Gulf News - 11/15/2018 9:05:00 AM)

Gains from the acquisition of another district cooling entity helped Tabreed record a 10 per cent net profit growth to Dh319.3 million for the period from January to end of September.

Tabreed acquired S & T Cool, which provides district cooling ...

Adnoc to invest Dhs5.1b in Bu Hasa field

(The Gulf Today - 11/15/2018 8:41:00 AM)

The Abu Dhabi National Oil Company (Adnoc) on Wednesday announced an Dhs5.1 billion ($1.4 billion) investment to upgrade and expand its Bu Hasa field that will increase crude oil production capacity to 650,000 barrels per day (bpd). This is an important ...

Gulf Capital sells 74pc stake of PET subsidiary

(Trade Arabia - 11/15/2018 8:40:00 AM)

Gulf Capital, one of the largest and most active alternative asset managers in the Middle East, said that its portfolio company, Middle East Glass (MEG), successfully sold a 74 per cent stake in its PET subsidiary, Medco Plast for Packing and Wrapping ...

Aramco hosts board members of US oil services firm

(Trade Arabia - 11/15/2018 8:35:00 AM)

audi Aramco yesterday (November 14) hosted a visit by the Board of Directors of US-based National Oilwell Varco (NOV), a leading provider of technology, equipment, and services to the global oil and gas industry.

The NOV delegation was led by ...

Nakheel records $1.05bn nine-month net profit

(Trade Arabia - 11/15/2018 8:31:00 AM)

Leading UAE master developer Nakheel has registered a net profit of Dh3.86 billion ($1.05 billion) for the first nine months compared to the last year's figures of Dh4 billion ($1.08 billion).

Announcing the results, Nakheel said its ...

Emaar's nine-month revenue surges 30pc to $4.73bn

(Trade Arabia - 11/15/2018 8:12:00 AM)

Emaar Properties has recorded a revenue of Dh17.39 billion ($4.735 billion) in the first nine months, up 30 per cent higher than the revenue of Dh13.351 billion ($3.635 billion) last year.

This was led by the robust growth achieved by Emaar ...

Air Arabia 9-month net profit tumbles 17pc

(Trade Arabia - 11/14/2018 8:08:00 AM)

Sharjah-based Air Arabia posted a 17 per cent drop in net profits for the first nine months of 2018, despite an increase in turnover to Dh3 billion ($816.6 million).

The airline's net profit for the period January-September stood at Dh530 ...

Union Properties swings to nine-month net profit

(Trade Arabia - 11/14/2018 8:00:00 AM)

Union Properties, a leading real estate company based in Dubai, UAE, said it has recorded a net profit of Dh145.6 million ($40 million) for the first nine months of 2018, compared to a net loss of Dh2.3 billion ($626 million) for the same period last ...

Abu Dhabi signs key ultra-sour gas concession with Eni

(Trade Arabia - 11/14/2018 7:56:00 AM)

The Abu Dhabi government and the Abu Dhabi National Oil Company (Adnoc) have signed the first of a series of concession agreements with Italy’s multinational oil and gas company Eni, awarding it a 25 percent stake in its offshore ultra-sour gas mega ...