This is a temporary backup site for TRENDS MENA while our primary website is being restored following a regional disruption affecting AWS cloud infrastructure in the GCC.

Search Site

AD Ports Group 2024 net profit $484m

The Group's revenue increased 48 percent year-on-year.

TAQA net income $1.93bn in 2024

The company's revenues increased 6.7 percent year-on-year.

ADNOC L&S 2024 net profit $756m

The company's revenue increased by 29 percent to $3.54 billion.

ADNOC Distribution 2024 net profit down 7%

Minus UAE corporate tax, it would have grown by 2.4% to $725m

Maaden raises $1.25bn in sukuk offering

The Sukuk were offered in a five-year and a 10-year tranche.

Iran proposes to Saudi Arabia to set up working group for visa cancellation

  • The idea of visa cancellation was put forward by Iranian deputy tourism minister while visiting Saudi Arabia
  • Iran and Saudi Arabia in March agreed to a Chinese-brokered deal to revive relations after years of hostility

Riyadh, Saudi Arabia–Iran has proposed to Saudi Arabia to set up a working group to look into the idea of cancelling visas between the two countries.

In this regard, the Iranian deputy tourism minister traveled to Saudi Arabia to proposed the to Saudi Arabia the idea of visa cancellation.

A ceremony was held in Riyadh to celebrate World Tourism Day, and Maryam Jalali, deputy Iranian Minister of Cultural Heritage, Tourism and Handicrafts, on behalf of Ezzatollah Zarghami, the minister, attended the ceremony.

On the sidelines of this ceremony, the deputy Iranian tourism minister held separate meetings with participating officials from Indonesia, Saudi Arabia and Uzbekistan.

In the meeting with Sultan Al Musallam, Deputy Minister of International Affairs at Saudi Arabia’s Ministry of Tourism, Jalali proposed the formation of a working group to cancel visas between the two nations.

Jalali said after the meeting with the Saudi official that “I conveyed the message of minister Ezzatollah Zarghami … to the Minister of Tourism of Saudi Arabia to Sultan Al Musallam. Also, in the message, the high official of the Saudi Ministry was invited to visit Iran, and it was decided to make the necessary planning and coordination.”

In a sign of warming ties between the two countries, Iran’s President Ebrahim Raisi last month termed Saudi Arabia and Iran as the two most influential countries in the region and the Islamic world.

The president made the remarks In a meeting with Iran’s newly-appointed ambassador to Saudi Arabia Alireza Enayati, before departing for Saudi Arabia.

Raisi called for using the existing capabilities for the development of relations between Tehran and Riyadh.

The increase in cooperation between Iran and Saudi Arabia in bilateral and multilateral dimensions will raise the position of the countries of the region in the regional and global equations and limit the ground for foreign interventions, Raeisi cited.

Back in March, Iran and Saudi Arabia agreed to a Chinese-brokered deal to revive relations after years of tensions.

Iran officially reopened its embassy in Riyadh in June, followed by its consulate in Jeddah and representative office with the Organization of Islamic Cooperation.

The Saudi embassy in Tehran and its consulate in Mashhad have also resumed operations.