Dubai-based multinational conglomerate MAG Group Holding witnessed a notable milestone in its business, as its portfolio of current and under development projects across its different real estate subsidiaries has hit AED 43.7 billion ($11.9 billion). The Group’s subsidiaries include MAG Lifestyle Development, Keturah, Invest Group Overseas (IGO), MBL, Shoumous, Art of Living Mall and MAG Leasing for warehouses. In total, they represent
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UAE-based leading master developer Nakheel, a member of Dubai Holding’s pioneering real estate arm Dubai Holding Real Estate, has marked significant progress in the development of Palm Jebel Ali in 2024, with the ambitious project progressing at pace to meet 2025 milestones. The man-made island Palm Jebel Ali is part of the impressive Palm Islands project along with Palm Jumeirah and Deira
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U.S.-listed Greek dry cargo vessel owner and operator Navios Maritime Partners reported Q3 revenue and net income of $340.8 million and $97.8 million, respectively. Revenue for the quarter came in at $340.8 million versus the consensus estimate of $355 million. For the first nine months, it reported revenue and net income of $1.0 billion and $272.6 million, respectively. Earnings per common unit
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Dallas-based restaurant chain TGI Fridays filed for Chapter 11 bankruptcy protection on Saturday (Nov. 2), citing COVID-19 and capital structure as main factors. In its filing with a Texas federal court, the company listed both assets and liabilities in the range of $100m to $500m. The TGI Fridays brand and related intellectual property are owned by TGI Fridays Franchisor, LLC as a
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Oil-and-gas major BP has reported its weakest quarterly profits in almost four years as lower oil prices and falling refining margins continue to weigh on the energy sector. European Brent crude prices fell by more than 11% to an average $74.02/bbl in September from $83.48/bbl in February, according to U.S. Energy Information Administration figures. The London-based company made underlying profits of $2.27bn
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Private equity (PE) firm One Rock Capital Partners LLC has entered an agreement for an affiliate to acquire Paris-based Europe Snacks, a leading private label manufacturer of savory snacks for the European market. Financial terms of the deal, announced Sept. 11, weren’t disclosed. Europe Snacks provides stacked chips, snacks, crisps and crackers to major food retailers throughout Europe, and is a trusted
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Swedih fintech Klarna has signed a strategic, multi-year agreement with a subsidiary of funds advised by Elliott Advisors (UK) Limited for the on-going sale of substantially all of Klarna’s short-term, interest free product receivables in the UK. Klarna will still own all consumer-facing activities, including underwriting and servicing. The Financial Times earlier reported on the deal. Over the past three years, Klarna
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Athens-based THEON, a world-renowned manufacturer of Advanced Optronics, Night Vision and Thermal Imaging Systems, continued to deliver on growth and profitability in the 9-months ended September 2024. Order intake grew 47.4% vs 9-month 2023 to €121.0 million with significant new orders anticipated over the next few months. Soft backlog of €400 million providing good visibility for the current year and already covering
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US-based Ultatel, a provider of innovative business communication solutions, has been recognized as the 20th fastest growing telecommunications company in the country by Inc. Magazine’s prestigious Inc. 5000 list for 2024. The Inc. 5000 list is an exclusive ranking of the nation’s fastest-growing private companies. This remarkable achievement solidifies Ultatel’s position as a rising star in the highly competitive telecom industry. “We
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Liviniti, a pioneer in pharmacy benefit innovation, announced that LeAnn Boyd, CEO, has been recognized by Modern Healthcare as one of its Women Leaders for 2024. LeAnn is included in an exclusive group of executive women selected for this year’s honor. As CEO and Co-founder of Liviniti, LeAnn has long challenged the pharmacy industry to adopt practices that make prescription drugs more
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