The Middle East foray is in line with the fintech firm’s long-term ambition of being ubiquitous to the debt ecosystem
Dana Gas on Thursday said its first-half net profit surged 82 per cent to Dh407 million due to elevated hydrocarbon prices, the company’s continued commitment to maintaining a low-cost base and strong operational performance in the Kurdistan Region of Iraq (KRI).
In a statement, the company said it generated a net profit of 5.8 fils per share as the company adjusted net profit (excluding reversal of impairment) of Dh225 million in first half of 2021.
The company’s revenue increased 31 per cent to Dh1.041 billion as compared to Dh792 million in first half of 2021 while its operating costs dropped 16 per cent.
The company’s realised prices averaged $87 per barrel for condensate and $44/boe for LPG compared to $48/bbl and $32/boe, respectively, in first half of 2021.
Given the strong operational and financial performance, the board expects to maintain its semi-annual dividend payment in keeping with the company’s dividend policy. The interim dividend will be decided by the board at its meeting in September.
Temporary assembly line inaugurated with a 10,000-car annual manufacturing capacity; New facility will be ready in next two years to lift production capacity to 55,000 electric cars annually
Created and conceptualised in-house, BPGverse was launched during BPG’s annual offsite at the JA Beach Hotel, Dubai.
As businesses looked to further aid sales growth through competitive pricing, operating conditions improved at a healthy pace once again across the UAE non-oil economy, data from S&P Global shows
Volumes to grow just 1%, down from the 3.4% expected previously
The UAE national Rashid Saeed Al Shehhi, won the grand prize which is in cash, an amount of Dh570,000. Shehab Ahmed Hussein, another UAE national won the second prize of D70,000, while Hamad Ahmed Al Yamahi won the third prize of Dh20,000.
Health-care provider prices IPO at 2 dirhams per share; The offering size is confirmed at 550,729,221 ordinary shares, or 11 per cent of the company’s total issued share capital; Trading debut in ADX will be on October 10