This is a temporary backup site for TRENDS MENA while our primary website is being restored following a regional disruption affecting Amazon Web Services 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.

NEOM awards contracts for construction of high-speed transportation tunnels

  • The two contracts were awarded to two consortiums consisting of engineering and construction companies.
  • NEOM said the project will be implemented in accordance with the best international practices used to protect the environment.

NEOM has awarded two contracts to two consortiums for the construction of two tunnels with a length of 28 kilometers dedicated to high-speed transportation and freight services in the infrastructure of the “The Line”.

The first consortium includes FCC Construction SA, Chinese State Construction and Engineering, and a Saudi company, Peninsula Contracting.

The second consortium includes Samsung C&T and Hyundai Engineering and Construction Co., Ltd. and “Archirodon”.

NEOM said the project will be implemented in accordance with the best international practices used to protect the environment in construction and building projects, in a way that achieves NEOM’s vision of preserving 95 percent of nature, as the excavation waste from rocks will be recycled and used in permanent concrete for tunnels, and in other construction sites in NEOM.

The futuristic city involves some of the most important transport and infrastructure projects in the world, and accordingly, NEOM aspires to achieve leadership in advanced engineering and construction solutions and innovations, which embody an unconventional and unprecedented model in the world, NEOM said in a statement.

The CEO of NEOM, Engineer Nazmi Al-Nasr, said, “The project will facilitate the transportation process, reduce emissions and protect the environment, and achieve our goal in developing a smart and harmonious infrastructure with the surrounding environment, so that the “Line” is free of carbon emissions and without noise, pollution, vehicles or streets. “