ADX:ALPHADHABI

6 stories mentioning ADX:ALPHADHABIUpdated 22d ago

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UAE Shares Blink Red as Renewed US-Iran Strikes Spook Investors

Markets in the United Arab Emirates started the new trading week in negative territory as risks of renewed escalation between the US and Iran weighed on sentiment.At the close of Monday trading, the FTSE ADX General Index lost 0.369%, while the DFM General Index declined 0.793%.Oil prices rose as the US struck two Islamic Revolutionary Guard Corps rocket launchers on Larak Island in the Strait of Hormuz, targeting minelaying forces. Iran retaliated by attacking US bases in Jordan and claiming drone strikes on the Al Minhad Air Base in the UAE.Meanwhile, the UAE's Ministry of Defence said it identified and intercepted an Iranian unmanned aerial vehicle but denied reports of strikes on Al Minhad Air Base."Oil prices started the week stronger following the first military strikes between the US and Iran in a month. ICE Brent briefly moved back above US$90/bbl in early morning Asia trading," ING said. "This reinforces concerns about a prolonged stalemate between both sides and, as a result, disruptions to energy flows from the Persian Gulf."Back home and on the corporate front, Alpha Dhabi Holding (ADX:ALPHADHABI) shares closed the session 1.17% in the red. The Abu Dhabi-listed investment holding company aims to double its capital commitment in the Mubadala Capital-managed Micad Credit joint venture to $1 billion and increase its ownership to 40% from 20%.United Securities affirmed its hold rating on Emirates Central Cooling Systems (DFM:EMPOWER), d/b/a Empower, after its second-quarter net profit came in line with the investment manager's expectations. The cooling services company's revenue, however, was 16% below the forecast. Empower closed the session 0.63% lower.

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US Markets22d ago

Alpha Dhabi Doubles Ownership in Mubadala Capital-managed Private Credit JV

Alpha Dhabi Holding (ADX:ALPHADHABI) boosted its capital contribution in the Mubadala Capital-managed MICAD Credit JV to $1 billion, effectively doubling its share of the private credit joint venture to 40% from 20%.The joint venture manages $1.7 billion of assets across 45 portfolio companies. The Abu Dhabi-listed investment holding company said Monday its capital injection is in line with its private credit strategy."This expanded partnership with Mubadala Capital reflects our conviction in private credit as a strategic pillar of Alpha Dhabi's investment portfolio. Doubling our commitment and broadening our mandate is a deliberate step - one that positions us to access a wider universe of high-quality global opportunities," commented Alpha Dhabi Group Chief Executive Officer and Managing Director Hamad Salem Al Ameri.Established in 2023, MICAD Credit capitalizes on attractive risk-adjusted returns from credit opportunities in a variety of sectors and geographies. With Alpha Dhabi's additional investment, the mandate of the investment vehicle was expanded to cover additional private credit strategies accessible through global alternative asset manager Mubadala Capital's existing relationships and direct lending activities in the US and Europe."The evolution of the joint venture reflects the strength of our approach to building high-quality investment platforms together with institutional partners. As our Credit business continues to grow, we remain focused on expanding access to differentiated private credit opportunities through our investment capabilities and long-term global relationships in the sector," said Mubadala Capital President and Chief Investment Officer for Credit and Solutions Omar Eraiqat.Alpha Dhabi shares declined more than 1% at midday trading.

ADX:ALPHADHABI

Asia Markets50d ago

UAE Stocks Gain as US-Iran Tensions Ease; OPEC+ Raises September Oil Output Target

Markets in the United Arab Emirates started the first day of the new trading week in the green, buoyed by optimism over renewed US-Iran talks.At the close of Monday trading, the FTSE ADX General Index added 0.264%, while the DFM General Index was up 1.424%.US President Donald Trump said in a social media post that he called off a planned strike on Iran at the request of other Middle Eastern countries. Trump also stated that talks for a deal to reopen the Strait of Hormuz and Iran's denuclearization will take place on Monday but did not specify a deadline or location of the negotiations.In other news, seven OPEC+ countries, including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, agreed to increase oil output by 188,000 barrels per day from September at their virtual meeting on Sunday.Back home and on the corporate front, Alpha Dhabi (ADX:ALPHADHABI) was the standout stock on the Abu Dhabi bourse and surged 9.15% at closing. The Abu Dhabi-listed investment holding company recorded a 48% year-over-year growth in its first-half net profit, driven by disciplined capital allocation and strategic investments."Our H1 results demonstrate the structural strength of our portfolio and the impact of our investments in artificial intelligence and some of the world's most transformational companies like SpaceX," Alpha Dhabi Holding Group Chief Executive Officer Hamad Al Ameri commented. "Whether it is through expanding our international footprint or deepening our sector expertise, our priority remains clear: executing our strategy with discipline and unlocking transformative growth opportunities across all our verticals."Meanwhile, Emirates NBD Bank's (DFM:EMIRATESNBD) unit Emirates NBD Egypt agreed to buy the retail banking portfolio of HSBC Bank Egypt, the indirect subsidiary of British lender HSBC, to boost its retail and premium banking footprint in Egypt. Emirates NBD Bank's shares were 3.31% in the green at the time of closing.

^DFMGI^FADGIADX:ALPHADHABIDFM:EMIRATESNBD

US Markets138d ago

Emirati Investor IHC Reports Surge in First-quarter Profit as Revenue Jumps 33%

International Holding Co. (ADX:IHC), d/b/a IHC, reported a year-on-year surge in first-quarter attributable profit on Wednesday, aided by a 33.2% jump in revenue.Net profit for the three months ended March 31 attributable to owners of the global investment company expanded to 5.07 billion dirhams from 1.47 billion dirhams a year ago. EPS moved to 2.32 dirhams from 0.67 dirham.The Abu Dhabi-listed holding company, which counts Alpha Dhabi (ADX:ALPHADHABI), Two Point Zero (ADX:2POINTZERO), and Al Seer Marine (ADX:ASM) among its subsidiaries, said revenue grew to 31.45 billion dirhams from 23.61 billion dirhams.The active investor-operator generated 10.8 billion dirhams in revenue from its real estate and construction holdings. Revenue from marine and dredging reached 6.9 billion dirhams, while energy and mining contributed 5.4 billion dirhams amid expansion across mining and energy activities.IHC's total assets stood at 445.3 billion dirhams, a 3.9% increase from the end of 2025. Return on equity improved to 17.8%, while total debt rose to 94.8 billion dirhams to fund the group's growth initiatives."The Group will continue to prioritise high-performing platforms, scale its presence across strategic sectors, and deepen integration across its Dynamic Value Networks to unlock further value," IHC said.

ADX:2POINTZEROADX:ALPHADHABIADX:ASMADX:IHC

Equities139d ago

Ta'Ziz, Alpha Dhabi Holding to Invest $10 Billion for Industrial Chemicals Production in UAE

Alpha Dhabi Holding (ADX:ALPHADHABI) and Ta'Ziz, a joint venture between ADQ and Abu Dhabi National Oil Co., d/b/a Adnoc, signed a collaboration agreement to strengthen the United Arab Emirates' domestic production of new industrial chemicals.The partnership will invest $10 billion in the production of up to 14 new chemicals, with a targeted additional chemical capacity of 2.2 million tonnes per annum at Ta'Ziz's facility in Al Ruwais Industrial City, Abu Dhabi, according to a Wednesday release.The new chemicals, which are used across a wide range of sectors, could substitute key products that are currently imported into the UAE and help improve its local supply chain resilience.

ADX:ALPHADHABI

Asia Markets140d ago

Abu Dhabi, Dubai Shares Slide as Non-oil Private Sector Growth Slows

Markets in the United Arab Emirates closed lower on Tuesday as investors assessed the latest data from the country's non-oil private sector.At the close of trading, the FTSE ADX General Index shed 0.303%, while the DFM General Index lost 0.879%.The S&P Global UAE PMI declined to 52.1 in April from 52.9 in the prior month, marking the softest improvement in operating conditions since February 2021. New order growth for non-oil businesses and export orders slowed down amid the ongoing conflict in the Middle East, while overall input costs rose the sharpest since July 2024."The UAE non-oil private sector signalled a further loss of momentum in April, with operating conditions showing their weakest performance for more than five years. Heavy restrictions on key shipment routes resulted in a marked drop in exports, while rising cost pressures placed businesses under additional strain," S&P Global Market Intelligence senior economist David Owen said. "The subsequent uplift in selling prices - the fastest in nearly 15 years according to the survey data - underlined the growing inflation risks to the non-oil sector."On the geopolitical front, the UAE reported new missile and drone attacks leading to a fire at the Fujairah Oil Industry Zone. The Ministry of Defence also confirmed in a Monday statement that a total of 12 ballistic missiles, three cruise missiles, and four unmanned aerial vehicles were engaged by the country's air defense systems.Over to corporates, Alpha Dhabi Holding (ADX:ALPHADHABI) reported a higher attributable profit and an 8% year-on-year growth in revenue. Shares of the investment holding company closed the session 0.68% lower.Meanwhile, in Dubai, Ekttitab Holding (DFM:EKTTITAB) secured the Kuwaiti Capital Markets Authority's approval to reduce its capital to fully offset its accumulated losses. The investment company's stocks were 4.04% in green at trading's close.

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