INSEAD Day 4 - 728x90

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Empower okays $119.1m H2 2025 dividend

The dividend is equivalent to 43.75% of paid-up capital.

Alujain widens 2025 loss

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

AJEX, MODON sign partnership

Ajex gains rigts to operate warehousing facilities in Modon. (Ajex)
  • These facilities will be utilized for the storage of a diverse range of goods, including hazardous materials, food and beverage products, and general items.
  • The newly secured warehousing space aligns with Dammam's pivotal role in the Kingdom's oil, gas, and industrial sectors, AJEX said in a statement.

Dammam, Saudi Arabia — AJEX Logistics Services has inked a strategic partnership agreement with the Saudi Authority for Industrial Cities and Technology Zones – MODON, paving the way for AJEX to expand its operational footprint in the industrial hub of Dammam.

Since its inception in 2021, AJEX has been on a trajectory of significant growth, and this partnership underscores its commitment to advancing logistical excellence.

The agreement grants AJEX exclusive rights to operate expansive warehousing facilities covering a substantial 6,000 sqm area at MODON. These facilities will be utilized for the storage of a diverse range of goods, including hazardous materials, food and beverage products, and general items.

The newly secured warehousing space aligns with Dammam’s pivotal role in the Kingdom’s oil, gas, and industrial sectors, as well as its rapid emergence as a hub for non-oil related manufacturing, particularly in the food and beverage sector.

Situated in close proximity to key transportation nodes, including King Fahd International Airport, Dammam Railway Station, and King Abdulaziz Port in Dammam, MODON’s strategic location complements AJEX’s specialized capabilities, AJEX said in a statement.

Ali Al Ribi, AJEX’s Warehouse Director, expressed enthusiasm about the partnership, stating, “Our latest warehousing facilities, thanks to our agreement with MODON, will bolster our capabilities in managing complex logistics challenges safely and efficiently.