BusinessLatest Business and Company Updates
First Abu Dhabi Bank’s Q3 Profits Surpass Expectations with $1.2 Billion Boost
First Abu Dhabi Bank (FAB), the largest lender in the United Arab Emirates, has reported a remarkable performance for the third quarter of 2024. The bank posted a net profit of $1.2 billion, exceeding analysts' expectations and reflecting a robust 38% year-on-year growth. This surge is attributed to a diversified
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Omniyat’s $500m Sukuk Debut Signals Investor Confidence in Islamic Debt Market
Dubai-based developer Omniyat has successfully launched its inaugural dollar-denominated sukuk, upsizing the issuance to $500 million from an initial target of $400 million. The offering attracted robust investor interest, with the order book reaching $1.8 billion, allowing the company to
Raydan Food Executives Jailed for Market Misconduct
Executives of Raydan Food Co, a prominent food services company in Saudi Arabia, have been sentenced to prison following a thorough investigation into market violations. This legal action marks a significant chapter in the kingdom's ongoing efforts to enforce stricter
Alpha Dhabi Holding sees sharp growth in Q2 profits
Alpha Dhabi Holding has reported a significant surge in its second-quarter net profit for 2025, reaching AED 4.53 billion, marking a 118% increase from AED 2.08 billion during the same period in 2024. This growth reflects the investment conglomerate's strategic
