Author: Arabian Media staff
The American Idol runner-up listed the sprawling L.A. home, with a kitchen that is “pure drama,” for almost $7.4 million. Source link
The Emirates Nuclear Energy Company (ENEC) and Hyundai Engineering & Construction (Hyundai E&C) have signed a memorandum of understanding (MoU) in Seoul to explore international opportunities in nuclear energy, as global demand for clean and scalable electricity intensifies. The agreement builds on the longstanding UAE-Korea partnership in the nuclear sector and aims to advance civil nuclear deployment in line with projections by the International Energy Agency (IEA) and the International Atomic Energy Agency (IAEA), both of which foresee a sharp rise in global nuclear capacity through 2030 and 2050. The MoU outlines a framework for knowledge sharing, joint project evaluations,…
Shares of health device maker Phillips rallied as much as 14% on Tuesday as the company lifted its earnings guidance despite a hefty hit from tariffs. Source link
Image credit: WAM/Website The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) in UAE has issued a public warning urging citizens, residents, and visitors to use only authorised platforms when applying for services related to entry, residency, and employment in the UAE. The authority cautioned against responding to misleading advertisements by unauthorised offices or companies promoting their services through websites and social media platforms, a WAM report said. Read-Scam alert: Beware of phishing emails that impersonate CBUAE According to the ICP, its official services are accessible through simplified and user-friendly procedures on its website, smart application, and through…
Image: Getty Images/ For illustrative purposes Arada Developments has successfully raised $450m through a five-year sukuk issuance, marking a strong return to international debt markets with a deal that was more than four times oversubscribed. The RegS Sukuk, priced with a fixed coupon of 7.150 per cent, drew peak orders exceeding $2bn, excluding joint lead managers. The transaction priced 47.5 to 60 basis points tighter than initial guidance of 7.625 to 7.750 per cent, landing at a spread of 317 bps over US Treasuries. The paper is rated BB- by Fitch and B1 by Moody’s and has been listed on…
Image: Modon Holding Abu Dhabi-based Modon Holding reported a net profit of Dhs2.1bn for H1 2025, a 4.2-fold increase from a year earlier after excluding one-off items in H1 2024. The strong performance was driven by record real estate sales, increased recurring income streams, and continued strategic investments. Group revenue tripled year-on-year to Dhs6.5bn, while EBITDA rose fourfold to Dhs2.9bn. The company cited robust contributions from its four key business segments – real estate, asset and investment management, events, catering and tourism and hospitality. Real estate driving Modon’s growth in H1 Real estate remained the group’s primary growth engine, generating…
Arab Bank Headoffice/Image: Supplied Arab Bank Group reported strong financial results for the first half of 2025, recording a 6 per cent increase in net income after tax to $535.3m, up from $502.8m during the same period last year. The bank also maintained a robust capital position, with total equity reaching $12.5bn. The Group’s assets expanded by 9 per cent to $75.2bn. Loans rose to $39.8bn, reflecting a 6 per cent increase, while deposits climbed 9 per cent to reach $55.3bn. Commenting on the results, Sabih Masri, chairman of the board of directors, stated that “the strong results achieved in…
Image credit: Getty Images As of July 1, motorists in the UAE began paying more at the pump, with fuel prices increasing across all categories. Super 98 petrol climbed to Dhs2.70 per litre from Dhs2.58 in June, while Special 95 rose to Dhs2.58 per litre, up from Dhs2.47. E-Plus 91 was priced at Dhs2.51 per litre, an increase from Dhs2.39, and diesel reached Dhs2.63 per litre, up from Dhs2.45. These monthly adjustments are part of the UAE’s fuel price deregulation policy, in place since 2015, which links domestic fuel prices to global oil market trends. Read- UAE: These are the…
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Image: Getty Images Companies in the Gulf Cooperation Council (GCC) raised $2.5bn through initial public offerings (IPOs) in the second quarter of 2025, according to PwC Middle East’s latest IPO Watch report, as investor appetite for regional equities remained strong despite global volatility. Saudi Arabia dominated issuance, accounting for 76 per cent of total IPO proceeds, bolstered by landmark deals including Flynas, the first airline IPO in the GCC in over 15 years, and Specialized Medical Co, which raised $500m in June. Three IPOs during the quarter raised over $500m each, signalling a trend toward larger deal sizes amid sustained…