Tecom Group’s net profit up 34% in Q1

High occupancy rates and strong growth across key business sectors enabled a $54.5mn dividend payout. Tecom Group said that it has observed...

Green finance initiatives launched by TAQA

Proceeds set to contribute to important eco-friendly projects and align with global best practice. Abu Dhabi National Energy Company (TAQA) has launched...

DMCC enjoys record Q1 2023

The free zone said it registered 708 new companies year-to-date, as it combines traditional appeal with innovative new specialisations. Dubai Multi Commodities...

Moody’s affirms A1 issuer rating for PIF

The ratings agency also maintains Saudi Real Estate Refinance A2 ranking, but changes outlook to ‘positive’. Moody's Investors Service has maintained the...

$344.5mn in financing for electric express train project in Egypt green-lit by IsDB

Funds were approved for projects that support socio-economic development and promote sustainability in member countries in key sectors such as energy, education,...

African Development Bank approves grant to boost Ghana’s use of renewable energy

The funding will enable the construction of mini-grids, stand-alone solar photovoltaic systems and solar-based battery facilities for storing excess power. A US...

Emaar Properties approves $598mn cash dividends

Profits of the Dubai development titan have surged by 80% to US $1.9bn. Leading UAE developer Emaar Properties has announced that its...

Saudi mining titan awarded DIFC captive license

The new operational status will provide Ma’aden with financial, strategic, and operational advantages. Saudi Arabian Mining Company (Ma'aden), the largest multi-commodity mining...

Acwa Power JV closes financing on $8.5bn green hydrogen project in Neom

The total financing comprises $5.85bn in senior debt and $475mn of mezzanine debt facilities. Acwa Power’s joint venture (JV) entity has closed...

Arada successfully closes $50mn second tap of sukuk

The recent tap issue follows exceptional investor feedback and enquiries as fund value passes $450mn. Sharjah-based developer Arada has successfully closed a...