Category Archives: Business & Investments

Business & Investments

Tabreed Celebrates its Most Successful Year and Approves New Record High Dividend Payment for FY 2023

Leave a comment

Tabreed Celebrates its Most Successful Year and Approves New Record High Dividend Payment for FY 2023

  • Annual General Assembly also confirms new appointment to Board of Directors

Abu Dhabi, United Arab Emirates – 20 March 2024: Tabreed, the UAE’s leading international district cooling company, yesterday held its Annual General Assembly (AGA), during which shareholders approved a record high dividend payment of 15.5 fils per share, paid fully in cash. As disclosed in the company’s recent full-year results for 2023, this represents an increase of 15% over the previous year and recognises Tabreed’s strong financial performance. During 2023, Tabreed reported a growth of 9% in revenue and an increase of 25% in net profit before tax to parent.

Continue reading Tabreed Celebrates its Most Successful Year and Approves New Record High Dividend Payment for FY 2023 →
Business & Investments

Abu Dhabi Securities Exchange (ADX) partners with Eureeca

Leave a comment

Abu Dhabi Securities Exchange (ADX) partners with Eureeca to expand access to its IPOs for International Investors through Eureeca’s Global Digital Investment Platform

  • In a pioneering first initiative, the ADX-Eureeca collaboration will offer international investors compliant and user-friendly access to ADX IPOs. This endeavor aims to enhance international investor engagement on ADX whilst also expanding Eureeca’s offerings by including ADX IPOs.

  • ADX’s collaboration with Eureeca capitalises on the Exchange’s robust e-IPO investor portal, highlighting its commitment in simplifying the IPO investment process while leveraging Eureeca’s multinational regulatory framework and advanced technology with the aim of improving access to ADX IPOs for regional and international investors.
Continue reading Abu Dhabi Securities Exchange (ADX) partners with Eureeca →
Business & Investments

Crude Oil, Cryptos, Gulf Markets – Comments from Century Financial

Leave a comment

Comments from Vijay Valecha, Chief Investment Officer, Century Financial on Global Markets, Cryptos, Crude Oil, Gold updates.

  • Crude Oil 

Oil ends at nearly five-month high as drone attacks crimp Russia’s output: Oil futures climbed on Monday, with U.S. and global benchmark prices settling at their highest since late October, as continued attacks by Ukraine on Russian energy facilities were estimated to have idled a significant chunk of Russia’s refining capacity.

Continue reading Crude Oil, Cryptos, Gulf Markets – Comments from Century Financial →
Business & Investments

Masdar to Acquire 50% Stake in Terra-Gen from Energy Capital Partners

Leave a comment

Masdar to Acquire 50% Stake in Terra-Gen from Energy Capital Partners

  • Investment highlights Masdar’s long-term commitment to and confidence in the U.S. renewable energy market
  • Masdar to help accelerate Terra-Gen’s growth as a leading developer and operator of utility-scale clean energy projects
  • Strategic investment advances Masdar’s ambitious plans in the growing U.S. market
Continue reading Masdar to Acquire 50% Stake in Terra-Gen from Energy Capital Partners →
Business & Investments

EFG Hermes Concludes Advisory on Cenomi Retail’s Sale of a Portfolio of Fashion Brands to Abdullah Al-Othaim Fashion

Leave a comment

EFG Hermes Concludes Advisory on Cenomi Retail’s Sale of a Portfolio of Fashion Brands to Abdullah Al-Othaim Fashion

Saudi Arabia, March 18, 2024

EFG Hermes, an EFG Holding Company and the leading investment bank in the Middle East and North Africa (MENA), announced today that it concluded advisory on a merger and acquisition (M&A) deal for Cenomi Retail, the largest franchise retailer in the Kingdom of Saudi Arabia. The retail giant has agreed to sell a select portfolio of brands to Abdullah Al-Othaim Fashion Company, a fully owned subsidiary of Abdullah Al-Othaim Investment Company.

As part of the agreement, Cenomi Retail had reached a definitive share purchase agreement with Abdullah Al-Othaim Fashion Company for the acquisition of 100% of the share capital of Innovative Outfit Trading Company, a Cenomi Retail subsidiary holding the franchise rights for the 16 brands involved in the deal in December 2023, which closed in February 2024 after obtaining the required approvals and completing the agreed-upon commercial and regulatory conditions.

Continue reading EFG Hermes Concludes Advisory on Cenomi Retail’s Sale of a Portfolio of Fashion Brands to Abdullah Al-Othaim Fashion →