ABU DHABI / WAM Adnoc Distribution on Monday reported that its net profit for the fourth quarter of 2020 grew to AED851 million, with underlying EBITDA (EBITDA excluding one-offs and inventory gains/losses) of AED1.1 billion. For the year 2020, net profit was AED 2.4 billion, while underlying EBITDA stood at AED3.6 billion. Adnoc Distribution has maintained a strong balance sheet ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan, sent a cable of condolences to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud on the death of Princess Lamia bint Hathloul bin Abdulaziz Al Saud. HH Sheikh Khalifa expressed his heartfelt condolences and solace on the death of Princess Lamia. His ...

BAHRAIN/ WAM Investcorp, a Bahrain-based asset manager that counts Mubadala Investment Company as its biggest shareholder, on Monday announced that one of Investcorp’s affiliates has acquired a portfolio of 13 multi-let industrial assets in South Wales. The acquisition continues Investcorp’s strategy of investing in industrial real estate and represents its first real estate investment in the Welsh market, the company ...