Latest news with #BurjeelHolding
Zawya
5 days ago
- Business
- Zawya
Mideast Stocks: Major Gulf shares fall on corporate earnings; Egypt extends rally
Most major stock markets in the Gulf ended lower on Thursday, as investors weighed mixed earnings reports and the impact of higher U.S. import tariffs on a dozen of trading partners that are expected to weigh on global growth. U.S. President Donald Trump's higher tariffs kicked in on Thursday, and he also said the United States will impose a tariff of about 100% on imports of semiconductors but with some exemptions. Dubai's benchmark stock index slipped 0.4%, weighed down by declines in real estate, consumer staples and financial shares. Emaar Properties fell 1%, while its unit Emaar Development dropped 2.3%. Emaar Properties, Dubai's largest property developer, posted on Wednesday a 39.7% year-on-year rise in second-quarter net profit attributable to shareholders, but its profit dipped 9% from the previous three-month period. Saudi Arabia's benchmark stock index fell 0.2%, with most constituents posting losses. Saudi Research and Media dropped 3%, after the media firm reported a second-quarter net loss, compared to net profit a year earlier. MOBI Industry lost 7% after the fertilizer maker reported a 49.5% year-on-year decline in quarterly net profit. The Abu Dhabi benchmark index eased 0.1%, pressured by a 0.5% loss in conglomerate International Holding and a 2.9% drop in Agthia Group, which reported a net loss for the second quarter. In contrast, Burjeel Holding surged 4.8%, after posting a more than twofold jump in net profit. The Qatari benchmark index gained for a fifth day and rose 0.3% to 11,364, its highest level in more than 2-1/2 years, with most stocks in positive territory. Qatar National Bank, the region's largest lender, added 1% and Qatar Aluminum Manufacturing rose 1.7%, after reporting a 44% increase in half-year net profit. Outside the Gulf, Egypt's blue-chip index extended its rally to a sixth session, rising 0.9% to a new all-time high at 35,809 with most stocks in the green. E-Finance jumped 6.3% and Talaat Moustafa Group advanced 1.2%. SAUDI ARABIA down 0.2% to 10,930 KUWAIT up 0.5% to 9,261 QATAR rose 0.3% to 11,364 EGYPT gained 0.9% to 35,809 BAHRAIN ended flat at 1,945 OMAN up 0.8% to 4,850 ABU DHABI down 0.1% to 10,317 DUBAI lost 0.4% to 6,133 (Reporting by Md Manzer Hussain; Editing by Vijay Kishore)
Zawya
5 days ago
- Business
- Zawya
Mideast Stocks: Gulf markets muted as investors weigh Fed leadership change, mixed earnings
Most stock markets in the Gulf were subdued in early trade on Thursday, as investors digested mixed corporate earnings and remained cautious amid uncertainty over U.S. Federal Reserve leadership. Expectations for a more accommodative Fed policy have increased following weaker U.S. macroeconomic data and moves by former U.S. President Donald Trump to nominate dovish candidates to the Fed board. Traders are now pricing in a 95.2% chance of a September rate cut, up from 63% at the end of July, according to CME FedWatch. Monetary policy shifts in the U.S. have a significant impact on Gulf markets, where most currencies are pegged to the dollar. Dubai's benchmark stock index slipped 0.4%, weighed down by declines in real estate and financial shares. Emaar Properties fell 1%, while its unit Emaar Development dropped 2.3%. Emaar Properties, Dubai's largest property developer, posted a 39.7% year-on-year rise in second-quarter net profit attributable to shareholders, but it dipped 9% from the previous three-month period. The Abu Dhabi benchmark index eased 0.1%, pressured by a 0.4% loss in International Holding and a 2.6% drop in Agthia Group, which reported a net loss for the second quarter. In contrast, Burjeel Holding surged 4.8%, after posting a more than twofold jump in net profit. Saudi Arabia's benchmark stock index slipped 0.2%, with most constituents posting losses. Petro Rabigh fell 1.6%, after the petrochemical company reported a second-quarter net loss of 1.37 billion riyals. Savola Group lost 1%, after the food products giant reported a 22% year-on-year decline in quarterly net profit. The Qatari benchmark index edged up 0.1%. Qatar Aluminum Manufacturing rose 2.6%, after reporting a 44% increase in half-year net profit.
Zawya
05-08-2025
- Business
- Zawya
Mideast Stocks: Most Gulf bourses track global rally as Fed's easing bets rise
Most Gulf stock markets rose in early trade on Tuesday in tandem with global bourses, as investors increased their bets that the U.S. Federal Reserve will act to prop up the world's largest economy. Friday's soft U.S. nonfarm payrolls data added to the case for a cut by the Fed, with odds for a September rate cut now standing at about 94%, according to CME Fedwatch, compared with a 63% chance at the start of last week. Interest rate moves by the Fed have a significant impact on the Gulf region's monetary policy because most of its currencies are pegged to the U.S. dollar. Dubai's benchmark stock index advanced 0.6%, supported by gains in shares linked to the real estate, utilities and industry sectors. Emaar Properties added 1.5% and Emirates Central Cooling Systems Corporation rose 1.7%. District cooling services provider EMPOWER reported a 15.3% increase in quarterly net profit attributable to shareholders. Meanwhile, Dubai's non-oil sector showed a solid recovery, with its PMI rising to 53.5 in July from 51.8 in June, driven by a sharper improvement in sales volumes. The Abu Dhabi benchmark index rose 0.3%, after two consecutive sessions of losses, lifted by a 2.4% advance in Abu Dhabi Commercial Bank and a 1.3% gain in Burjeel Holding. The Qatari benchmark index edged up 0.2%, aided by a 1.3% rise in telecom services provider Ooredoo and a 0.8% gain in Qatar Islamic Bank. Saudi Arabia's benchmark stock index was up 0.2% in early trading, with most sectors in positive territory, led by IT, real estate and healthcare stocks. Digital security firm Elm Company advanced 3% and ADES Holding gained 2.3%. Oil drilling group ADES has agreed to buy Oslo-listed rival Shelf Drilling for 3.9 billion Norwegian crowns ($379.33 million) in cash. Saudi Aramco, however, was down 0.3%. Oil giant Aramco reported a 22% drop in second-quarter profit, mainly on lower revenue, while it racked up more debt. (Reporting by Md Manzer Hussain; Editing by Helen Popper )
Zawya
24-06-2025
- Business
- Zawya
Burjeel Holdings supports regional growth via $46.3mln acquisition deal
Burjeel Holding has acquired the Medeor 24x7 Hospital building in Dubai for AED 170 million, according to a press release. The acquisition aligns with the group's long-term strategy to enhance operational control, reduce fixed lease liabilities, and strengthen its asset base in strategic locations. Located near BurJuman, the medical facility was operated under a long-term lease with a remaining rental commitment of approximately AED 343 million over the next 15 years. The acquisition eliminates that lease liability and grants Burjeel full ownership of the high-performing facility. Meanwhile, Burjeel Holdings will be able to ensure uninterrupted operations, preserve brand equity, and avoid relocation costs. It also enhances operational flexibility for future service expansion and infrastructure upgrades. The hospital's strong patient volumes and central location support Burjeel Holdings' regional growth objectives, particularly in Dubai and the Northern Emirates. The CEO of Burjeel Holdings, John Sunil, said: 'By transitioning from leasehold to ownership in a key market, we reinforce our operational resilience and strengthen our platform for growth.' Medeor 24x7 Hospital, founded in 2015, is a JCI-accredited multi-speciality facility offering care in areas such as maternity, congenital surgery, cardiology, pulmonology, urology, dialysis, critical care, gastroenterology, and advanced laparoscopic and gynecological procedures. Burjeel Holdings recently launched four specialized mental health centers under its Alkalma mental health and wellbeing platform by integrating Aspris Healthcare facilities. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Al Etihad
16-06-2025
- Health
- Al Etihad
Burjeel chief announces Dh2.5m to support families of doctors and medical students killed in Air India crash
16 June 2025 15:59 ABU DHABI (ALETIHAD)Abu Dhabi-based doctor and Burjeel Holding chairman Dr. Shamsheer Vayalil has announced Dh2.5 million (60 million rupees) in financial aid for the families of medical students and doctors affected by the Air India Flight 171 crash in Ahmedabad, a statement from his office said. The tragic incident occurred on June 12, when a Boeing 787 aircraft crashed into the hostel and mess blocks of BJ Medical College. The impact killed four young MBBS students and at least five family members of doctors living on campus, while dozens more were injured. Moved by the magnitude of the tragedy—and drawing from his own years living in medical hostels during his education in Mangalore and Chennai—Dr. Shamsheer said the images of the devastation resonated deeply.'I saw the footage from the mess and the hostel, and it truly shook me,' he said. 'Those students started the day thinking about lectures, assignments, and patients. Their lives ended in a way none of us could ever imagine. It hit close. Too close.'The relief package includes ₹10 million for each of the four students' families, ₹2 million each for five seriously injured students, and ₹2 million each for the families of doctors who lost loved ones. The aid will be disbursed in coordination with the Junior Doctors' Association at BJ Medical those killed were four medical students — Jaiprakash Choudhary, Manav Bhadu, Aaryan Rajput and Rakesh Diyora. Among the injured is third-year student Ritesh Kumar Sharma, who was trapped under debris for hours with severe leg injuries. Many students lost not only friends but a sense of security and normalcy.'This support is not just financial; it is symbolic,' Dr. Shamsheer said. 'These students were preparing to serve others. Their memories must not fade into headlines. We must carry forward the dreams they didn't get to fulfil.' Dr. Shamsheer, who also stepped in to support victims of the 2010 Mangalore air crash, said this tragedy felt personal in a different way. 'These young men were part of the same fraternity I once belonged to. To have that life stolen, so violently, so suddenly, is heartbreaking.'
