DUBAI: Abu Dhabi issued 4,538 commercial licenses during the first half, as the emirate managed to largely insulate itself from the impact of the global market crisis.
The Abu Dhabi Business Center (ADBC), in its half annual report, said that 2,330 licenses were issued in the first quarter and 2,208 in the second quarter. It did not provide comparative numbers for the previous periods last year.
“The movement of regular commercial licenses reflects the extent of the rising economic activity in the emirate despite the global markets crises and impacts,” Khalifa bin Salem Al-Mansouri, the Undersecretary of the Department of Economic Development, said in a WAM report.
“It shows the great interest of the business community and national and foreign investors to avail themselves of an opportunity, thanks to the existing administrative and legislative systems in the emirate.”
The half annual report also said that total number of licenses in the emirate — mostly commercial, industrial and tourist permits — reached 111,039, of which 71,696 were issued in Abu Dhabi, 30,605 in the eastern region and 8,738 in Al Dhafra.
Mohamed Munif Al-Mansouri, the Acting Executive Director of the ADBC, said they have launched a number of initiatives including the activation of electronic services on the website and an application to cover all licensing transactions.
The center completed the electronic integration of 36 local and federal entities during the first half of the year, and managed to process 100,174 transactions including license issuances, renewals and cancelations, online services and violation notices.
Abu Dhabi issues 4,538 commercial licenses in the first half
Abu Dhabi issues 4,538 commercial licenses in the first half
Closing Bell: Saudi main index slips to close at 11,228
RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, lost 23.17 points, or 0.21 percent, to close at 11,228.64.
The total trading turnover of the benchmark index was SR2.99 billion ($797 million), as 170 of the stocks advanced and 82 retreated.
On the other hand, the Kingdom’s parallel market Nomu gained 449.38 points, or 1.90 percent, to close at 24,093.12. This comes as 43 of the stocks advanced while 27 retreated.
The MSCI Tadawul Index lost 6.07 points, or 0.40 percent, to close at 1,511.36.
The best-performing stock of the day was Obeikan Glass Co., whose share price surged 7.54 percent to SR27.66.
Other top performers included Alamar Foods Co., whose share price rose 6.80 percent to SR47.10, as well as Saudi Kayan Petrochemical Co., whose share price climbed 6.79 percent to SR5.66.
Saudi Investment Bank recorded the steepest drop, falling 3.21 percent to SR13.56.
Jahez International Co. for Information System Technology also saw its share price fall 3.15 percent to SR13.55.
Rabigh Refining and Petrochemical Co. declined 2.78 percent to SR7.34.
On the announcements front, Tanmiah Food Co. reported its annual financial results for the period ending Dec. 31. According to a Tadawul statement, the company recorded a net loss of SR18.8 million, compared with a net profit of SR95.8 million a year earlier.
The net loss was mainly due to ongoing market challenges that resulted in continued pricing pressures in fresh poultry, inflationary cost pressures, higher financing expenses, and depreciation and ramp-up costs from new facilities, partially offset by increased production volumes and cost-optimization initiatives.
Tanmiah Food Co. ended the session at SR58.20, up 3.72 percent.
United International Holding Co., also known as Tas’heel, announced its annual financial results for the period ending Dec. 31. A bourse filing showed the company recorded a net profit of SR273.64 million in 2025, up 23.05 percent from 2024, primarily driven by a 23.4 percent rise in revenues. The revenue growth helped lift gross profit by 23.7 percent.
Tas’heel ended the session at SR146.80, down 0.28 percent.
