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Alujain widens 2025 loss

The increase in loss is due to impairment charges, weaker prices.

Masar 2025 net profit $262m

Higher land plot sales boost revenue and operating income.

Tasnee’s 2025 losses deepen

The petrochemicals' company's revenue also fell 17.7 percent.

DP World 2025 revenue $24.4bn

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BYD 2025 revenue surges

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Iran appoints envoy to Saudi Arabia after seven years

  • Saudi Arabia and Iran, after years of discord, signed a surprise reconciliation agreement in China on March 10.
  • Saudi Arabia had severed relations with Iran in 2016, after its embassy in Tehran and consulate in the second city of Mashhad were attacked.

Tehran, Iran – Iran has named an ambassador to Saudi Arabia, state media reported Wednesday, sealing a thaw in relations more than seven years after the regional rivals severed ties.

The new envoy, Alireza Enayati, previously served as Iran’s ambassador to Kuwait, assistant to the foreign minister and director general of Gulf affairs at the foreign ministry, the English-language Iran Daily said.

There was no immediate confirmation of his appointment from the foreign ministry of the Islamic republic.

The Middle East heavyweights, after years of discord, signed a surprise reconciliation agreement in China on March 10.

Saudi Arabia had severed relations with Iran in 2016, after its embassy in Tehran and consulate in the second city of Mashhad were attacked.

The two governments held several rounds of dialogue in Iraq and Oman before signing the reconciliation agreement.

They had backed opposing sides in conflict zones across the Middle East for years before mending fences.

In Yemen, Saudi Arabia has led a military coalition in support of the internationally recognized government, while Iran backed the Huthi rebels who control the capital Sanaa and large areas of the north.