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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Al Arabia posts $55m profit

The company will install ad billboards in Dubai.
By TRENDS Desk
March 4, 2022 8:02 pm
  • Profits of the Riyadh-based firm, partly owned by media giant MBC group, soared as the advertising industry rebounded from pandemic-hit 2020
  • The economic recovery, along with a continued digitization push in the Kingdom, led to a 45 percent increase in revenues year-on-year to SR720 million

Al Arabia, an advertising firm, has posted a net profit of $55 million in 2021, a 718 percent jump compared to the previous year.

Profits of the Riyadh-based firm, partly owned by media giant MBC group, soared as the advertising industry rebounded from pandemic-hit 2020, when profits plummeted to SR25 million.

The economic recovery, along with a continued digitization push in the Kingdom, led to a 45 percent increase in revenues year-on-year to SR720 million.

Last month, the company was awarded a contract for 40 digital billboards, valued at $266 million, to be installed on bridges and tunnels in Jeddah.

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