Latest news with #DelekGroup
The National
3 days ago
- Business
- The National
Scotland's oil profits 'must not be used to exploit citizens in Gaza'
Writing in the Scotland on Sunday, the Glasgow Pollok MSP said that profits from Scotland's oil and gas reserves are funding a company 'linked to human rights violations in Palestine'. Ithaca Energy, one of the largest producers of fossil fuels in Scottish waters that has stakes in Rosebank and Cambo fields, is majority-owned by Israeli fuel conglomerate Delek Group. Yousaf writes that Delek Group 'has been flagged by the UN for human rights violations in Palestine', operates in illegal Israeli settlements and is known to, through a subsidiary, provide fuel to the Israel Defence Forces (IDF). READ MORE: Scottish independence support at 58 per cent if Nigel Farage becomes PM 'There is near-universal agreement across the world that settlements are illegal under international law,' Yousaf wrote. 'We have, over the past 19 months, seen an increase in settler violence against innocent Palestinians. 'By their very nature, settlements are a tool used by the Israeli state to occupy more and more Palestinian land. This is why countries like Ireland are now taking steps to ban trade with Israeli businesses in occupied territories. 'We also know Delek's activities in illegal settlements was one of the reasons Norway's largest pension fund, KLP, divested from Delek Group in 2021 citing an 'unacceptable risk of the company contributing to or being responsible for serious breaches of ethical norms'. 'A company that is cited by the UN for possible human rights violations, and which has a contract with the IDF who are responsible for the mass slaughter of tens of thousands of children in Gaza, should not be allowed to profit from Scotland's resources.' In January, the Court of Session in Edinburgh ruled that consent for the Rosebank and Jackdaw fields was granted unlawfully. This meant their owners would have to seek fresh approval from the UK Government before starting production. Then in March, ahead of the Spring Statement, Chancellor Rachel Reeves said that the two fields will get the go ahead from the UK Government. Yousaf argued that allowing Ithaca to expand its operations in the North Sea would be the wrong move. READ MORE: Scots minister hits back at Defence Secretary 'student union politics' jibe 'We cannot allow oil fields signed off in Westminster to be used to bankroll injustice across the world,' he said. 'I am certain that one day those who are responsible for the war crimes we are witnessing in Gaza will be held to account. 'We must ensure we are in no way complicit; Scotland must not allow our natural resources to become a revenue stream for companies tied to the oppression of the Palestinian people.' It comes after Yousaf slammed Labour's immigration crackdowns and the rise of Reform UK in a speech.
Yahoo
12-05-2025
- Business
- Yahoo
Middle Eastern Dividend Stocks To Watch In May 2025
As the Middle Eastern markets experience fluctuations, with UAE indices slightly down ahead of crucial US-China trade talks, investors are keenly observing how these developments will impact regional equities. In this dynamic environment, dividend stocks remain a focal point for those seeking stability and regular income, offering potential resilience amidst market uncertainties. Name Dividend Yield Dividend Rating Turkiye Garanti Bankasi (IBSE:GARAN) 4.34% ★★★★★☆ Emaar Properties PJSC (DFM:EMAAR) 7.49% ★★★★★☆ Anadolu Hayat Emeklilik Anonim Sirketi (IBSE:ANHYT) 7.40% ★★★★★☆ National Bank of Ras Al-Khaimah (P.S.C.) (ADX:RAKBANK) 7.31% ★★★★★☆ Riyad Bank (SASE:1010) 6.12% ★★★★★☆ Arab National Bank (SASE:1080) 5.96% ★★★★★☆ Saudi National Bank (SASE:1180) 5.71% ★★★★★☆ Saudi Awwal Bank (SASE:1060) 5.85% ★★★★★☆ Delek Group (TASE:DLEKG) 8.68% ★★★★★☆ Commercial Bank of Dubai PSC (DFM:CBD) 6.11% ★★★★★☆ Click here to see the full list of 77 stocks from our Top Middle Eastern Dividend Stocks screener. Let's review some notable picks from our screened stocks. Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Abu Dhabi Islamic Bank PJSC offers banking, financing, and investing services in the United Arab Emirates, the Middle East, and internationally with a market cap of AED71.55 billion. Operations: Abu Dhabi Islamic Bank PJSC generates revenue from several segments, including Global Retail Banking (AED5.29 billion), Global Wholesale Banking (AED1.79 billion), Associates & Subsidiaries (AED1.48 billion), Treasury (AED257.90 million), Real Estate (AED163.44 million), and Private Banking (AED243.19 million). Dividend Yield: 4.2% Abu Dhabi Islamic Bank PJSC reported a net income increase to AED 1.62 billion in Q1 2025, reflecting strong earnings growth. Despite a low dividend yield of 4.24% compared to top regional payers, the bank's dividends are covered by earnings with a sustainable payout ratio of 53.3%. However, its dividend history is marked by volatility and unreliability over the past decade, alongside concerns about high non-performing loans at 3.3%. Delve into the full analysis dividend report here for a deeper understanding of Abu Dhabi Islamic Bank PJSC. Insights from our recent valuation report point to the potential overvaluation of Abu Dhabi Islamic Bank PJSC shares in the market. Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Enka Insaat ve Sanayi A.S., along with its subsidiaries, operates as a construction company in Turkey, Russia, Kazakhstan, Georgia, Europe, and internationally with a market cap of TRY398.96 billion. Operations: Enka Insaat ve Sanayi A.S. generates revenue from several segments, including Trade (TRY9.14 billion), Energy (TRY10.74 billion), Real Estate Lease (TRY11 billion), and Construction Contracts (TRY73.91 billion). Dividend Yield: 3.7% Enka Insaat ve Sanayi reported Q1 2025 sales of US$825.07 million, with net income declining to US$106.75 million compared to the previous year. The company announced a TRY 2 dividend per share for April 2025, but its high cash payout ratio indicates dividends aren't well covered by free cash flow. Despite being among top dividend payers in Turkey, Enka's dividends have been volatile and unreliable over the past decade, though earnings growth was robust last year. Unlock comprehensive insights into our analysis of Enka Insaat ve Sanayi stock in this dividend report. Our comprehensive valuation report raises the possibility that Enka Insaat ve Sanayi is priced higher than what may be justified by its financials. Simply Wall St Dividend Rating: ★★★★★☆ Overview: Delek Group Ltd. is an energy company involved in the exploration, development, production, and marketing of oil and gas both in Israel and internationally, with a market cap of ₪10.85 billion. Operations: Delek Group's revenue segments include the development and production of oil and gas assets in the North Sea, generating ₪7.33 billion, and oil and gas exploration and production in Israel and its surroundings, contributing ₪3.66 billion. Dividend Yield: 8.7% Delek Group's dividend yield is among the top in Israel, supported by a sustainable payout ratio of 70.4% from earnings and 37.6% from cash flows. Despite trading below its estimated fair value, Delek's dividends have been volatile over the past decade, reflecting an unstable track record. Recent financials show a decline in sales to ILS 11.96 billion and net income to ILS 1.40 billion for 2024, alongside a share repurchase program valued at up to ILS 105 million through December 2025. Navigate through the intricacies of Delek Group with our comprehensive dividend report here. The analysis detailed in our Delek Group valuation report hints at an deflated share price compared to its estimated value. Take a closer look at our Top Middle Eastern Dividend Stocks list of 77 companies by clicking here. Are these companies part of your investment strategy? Use Simply Wall St to consolidate your holdings into a portfolio and gain insights with our comprehensive analysis tools. Join a community of smart investors by using Simply Wall St. It's free and delivers expert-level analysis on worldwide markets. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ADX:ADIB IBSE:ENKAI and TASE:DLEKG. Have feedback on this article? Concerned about the content? with us directly. 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