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Massoud A Derhally

Massoud A Derhally

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Articles

Multiply Group chief executive Samia Bouazza said the company made substantial investment gains. Photo: Multiply Group
Multiply Group's Q3 profit soars on strong performance across units

Net income in the three-month period to the end of September surged to $2.5bn as revenue grew 75% to $77m

MarketsOctober 28, 2022
Tesla CEO Elon Musk speaks before unveiling the Model Y at Tesla's design studio in Hawthorne, California. AP Photo
Elon Musk completes $44bn Twitter deal

World's richest man reportedly fires several top executives at the social media company

TechnologyOctober 28, 2022
Emirates NBD registered strong momentum in the first nine months of 2022, with profit growing by 25 per cent. Reuters.
Emirates NBD's Q3 profit surges 51% on higher net interest income

Dubai's largest bank registered a 37% rise in income from higher borrowing costs, which hit $1.67bn

MarketsOctober 27, 2022
The Abu Dhabi Investment Authority holds investments — directly or indirectly — across various asset classes. Stephen Lock / The National
Adia well-positioned to capture future investment opportunities

Abu Dhabi's sovereign wealth fund's private equity department invested more capital than ever before, with direct investments accounting for 58% of the unit's overall allocation last year

BusinessOctober 27, 2022
IMF and Egypt reach preliminary agreement on $3bn loan
IMF and Egypt reach preliminary agreement on $3bn loan

The International Monetary Fund will extend the financing to the country over a 46-month period

EconomyOctober 27, 2022
Waqar Siddique in a screengrab from a video posted on YouTube by the Abraaj Group.
Former Abraaj executive reaches agreement with Dubai regulator

The settlement includes arrangements by Waqar Siddique to secure payment to the Dubai Financial Services Authority

BusinessOctober 26, 2022
The Tecom Group, whose 10 holdings include Dubai Internet City, has benefitted as occupancy levels at its commercial properties rose in line with the expansion of Dubai's economy. AP
Tecom's Q3 profit surges 70% on strong commercial property demand

Revenue in the three months to the end of September increased by an annual 12.5% to about $134m

MarketsOctober 26, 2022
First Abu Dhabi Bank raised its economic growth forecast for the UAE economy. Photo: FAB
FAB's nine-month profit soars 19% on lower provisions and higher interest income

Net impairment charges for loan losses fell 11 per cent to $472m

MarketsOctober 26, 2022
Dubai Islamic Bank's head office. The UAE's largest Islamic lender registered a 32 per cent increase in its nine-month net profit. Photo: Dubai Islamic Bank
Dubai Islamic Bank Q3 profit rises 14% on higher revenue and lower provisioning

Impairment charges narrowed by 26% during the three-month period to the end of September

MarketsOctober 25, 2022
HSBC's headquarters in Hong Kong, China. The lender said its outlook on revenue remained positive. Reuters
HSBC's Q3 pre-tax profit falls 42% on impairments and France unit sale

Reported revenue for the July-September period decreased by 3 per cent to $11.6bn

MarketsOctober 25, 2022
Mubadala and KKR will invest at least $1 billion in long-term capital as they look to provide credit solutions to companies and sponsors. Photo: Abu Dhabi Government Media Office
Mubadala and KKR link up to invest in Asia-Pacific private credit market

Partnership will boost the Abu Dhabi strategic investment company's presence in the large and growing market

BusinessOctober 24, 2022
An Empower district cooling plant, foreground, within the Dubai International Financial Centre area. Bloomberg
Empower IPO: Dubai district cooling company to sell 10% and list on DFM

World’s largest district cooling services provider plans to pay a minimum dividend of $232m per annum in the first two fiscal years

MarketsOctober 24, 2022
Abu Dhabi-based Bayanat will list its shares on the Abu Dhabi Securities Exchange on October 31. Alamy
G42-owned Bayanat set to raise $171m in Abu Dhabi bourse IPO

Silver Lake and International Holding Company to become cornerstone investors in the IPO

MarketsOctober 21, 2022
Pierre-Olivier Gourinchas, IMF chief economist, said 'for many people 2023 will feel like a recession'. AFP
IMF cuts 2023 growth forecast and warns 'worst is yet to come'

A third of the world economy is expected to shrink this year or the next as incomes shrink and prices rise

EconomyOctober 11, 2022
Burjeel Holdings chairman Dr Shamsheer Vayalil, right, rings the bell as ADX chairman Hisham Malak, ADX chief executive Saeed Al Dhaheri and Burjeel Holdings director Omran Al Khoori look on. Victor Besa / The National
Burjeel shares surge on Abu Dhabi Securities Exchange debut

Healthcare provider is the first privately owned company to go public in the UAE this year

MarketsOctober 10, 2022
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