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Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

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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