ADX:IHC

4 stories mentioning ADX:IHC

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UAE Indices Rebound; Dubai's Emaar Properties Soars

United Arab Emirates equities were back in the green on the last trading day of the week, buoyed by optimism over a possible US-Iran peace deal. At the close of Friday trading, the FTSE ADX General Index added 2.718%, while the DFM General was up 3.84%.US President Donald Trump, in a post on his social media platform Truth Social, said that he is canceling planned attacks on Iran after approval of discussions with Iran's "highest level" leadership. Trump also told White House reporters that a peace deal could be signed over the weekend in Europe.While markets await Iran's official confirmation on the proposed deal, Bloomberg News reported, citing G7 officials, that both countries are moving closer towards signing the agreement, which could take place in Geneva."It's not the first time we've been in this position. Trump has said many times before that a deal is very close, only for hostilities to resume. However, there does appear to be more positive noise around the deal this time, not just from the US but also from other parties involved in the negotiations," ING said. "Obviously, the key is the message coming out of Tehran. And for now, it has been very quiet. Therefore, we would be cautious about assuming that the extension of the ceasefire is a done deal."Closer to home, the Central Bank of the UAE and the World Bank Group agreed to collaborate on financial literacy, digital fraud prevention, and financial dispute resolution as part of an ongoing partnership between the two lenders.Over to corporates, Real estate developer Emaar Properties (DFM:EMAAR) was the Dubai bourse's most traded stock by value and closed 8.33% higher after announcing plans to disclose a 200 billion-dirham master-planned development in Dubai.International Holding Co. (ADX:IHC) shares closed the session flat as it launched the first tranche of its 5 billion-Emirati-dirham share repurchase program to buy back 1.8 billion dirhams worth of shares on Friday.The UAE bourses will be out on June 15 for the new Hijri Year 1448 or the Islamic New Year.

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Asia Markets24d ago

Emirati Shares in Green as Geopolitical Tensions, Oil Prices Remain in Focus

United Arab Emirates equities shrugged off renewed geopolitical and oil price jitters as both Dubai and Abu Dhabi indices closed the last trading day of the week in the green.At the close of Friday trading, the FTSE ADX General Index added 0.223%, while the DFM General Index rose 0.56%.Oil prices gained after a Reuters report, citing two senior Iranian sources, said that Iran's Supreme Leader, Mojtaba Khamenei, ordered that enriched uranium should not be sent abroad, conflicting with the US demand to transfer it out of the country."Uncertainty surrounding a US-Iran deal abounds as we head into the weekend, leaving the market susceptible to seesaw price moves if any fresh noise emerges," analysts at ING said. "While there are signs of optimism, uncertainty reigns. This is not the first time a deal seemed close, only for negotiations to break down. So, there's a large segment of the market that will be more sceptical about the positive signals we are seeing."As of 3:07 pm UAE time, the Brent crude oil futures stood at nearly $105.47 per barrel, up 2.82% from the previous day.Back home and on the corporate front, International Holding Co. (ADX:IHC), IHC, closed 0.256% lower. The Abu Dhabi-based holding company carried out a transaction worth 110 million Emirati dirhams through DDSC, a dirham-backed stablecoin approved by the UAE Central Bank.Meanwhile, in Dubai, Salik (DFM:SALIK) and Parkin Co. (DFM:PARKIN) will start to implement the Federal Tax Authority's new value-added tax rate of 5% on their services from June 1. Shares of Salik closed 0.90% lower, while those of Parkin ended 1.64% in the green.

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Asia Markets39d ago

UAE Indices Gain Amid Corporate Earnings Buzz

Stock trading in the United Arab Emirates closed higher as investors digested a fresh batch of corporate earnings from the region.At the close of Thursday trading, the FTSE ADX General Index was little changed at 0.016% in the green, while the DFM General Index was up 0.567%.The Emirati bourses saw the release of first-quarter earnings reports from companies operating across various industries, such as International Holding Co. (ADX:IHC), d/b/a IHC, Bank of Sharjah (ADX:BOS), Burjeel Holdings (ADX:BURJEEL), and Emirates Central Cooling Systems (DFM:EMPOWER), d/b/a Empower.IHC declined 0.49% despite a 33.2% year-over-year growth in revenue. Bank of Sharjah delivered a record performance for the quarter, backed by growth in net interest income and solid credit risk management, but closed the session 1.55% in the red.Meanwhile, Burjeel Holdings and Emirates Central Cooling Systems both reported higher attributable profits and revenue and ended flat and 7.19% higher, respectively.The UAE and Japan agreed to hold ministerial talks on expanding joint crude oil stockpiles in the country and increasing UAE crude supplies, Reuters reported, citing the Japanese industry ministry.On the geopolitical front, Iran said it was reviewing a US proposal and will respond through Pakistani mediators. US President Donald Trump also said in a social media post that a deal will open the Strait of Hormuz for everyone, including Iran, and that the latter will face attacks at a "much higher level and intensity" if an agreement is not reached."A deal announcement would move futures further immediately, in fact even the potential of a deal is already triggering a decline in oil prices. However, the physical market does not run on political timelines. Even under an optimistic scenario involving a 30-day phased reopening of the Strait of Hormuz, meaningful volume recovery would happen in June at the earliest, with processing port arrivals lagging by an additional four to six weeks after that," Rystad Energy's Chief Oil Analyst Paola Rodriguez-Masiu commented. "Global markets should not mistake a ceasefire headline for a supply headline."

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US Markets39d 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.

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