Aramco 2025 net profit $104bn, to pay $85.4 bn in dividends
Dubai, UAE -- Saudi Arabian Oil Co. (Aramco) reported a net profit of $104.7 billion for 2025, a decline from...
Business
Empower distributes $701 million dividends since listing
Dubai, UAE -- Emirates Central Cooling Systems Corporation PJSC (Empower) said it has distributed AED2.575 billion in dividends to shareholders...
Business
Economy
Entrepreneurship, SMEs drive Qatar’s economic growth
The Gulf country, according to reports, ranks first in the MENA region and fifth globally in entrepreneurship education and training...
- Qatar ranks first in the MENA region and fifth globally in entrepreneurship education and training at university and vocational levels, says a top QSTP executive
- Numerous initiatives are in place to stimulate the economy, including enhancing investment climate, encouraging local manufacturing and expanding logistics infra
Science
End of COVID-19 emergency doesn’t end its threat
“The threat of another variant emerging that causes new surges of disease and death remains, and the threat of another...
- WHO Director-General Tedros Adhanom Ghebreyesus warns of potential future surges from new variants and the emergence of deadlier pathogens
- The global health body chief also stresses the importance of readiness for future pandemics with decisive, collective, and equitable responses
Science
Bahrain, Qatar in focus as UAE astronaut shares unique view of the Gulf from space
Sultan Al Neyadi, the UAE astronaut, honors Bahrain and Qatar from his orbital viewpoint 400km above Earth, describing them as...
- Sultan Al Neyadi, the UAE astronaut, honors Bahrain and Qatar from his orbital viewpoint 400km above Earth, describing them as "two shining pearls"
- He also plans to celebrate his 42nd birthday by connecting with an audience at UAE University in Al Ain as part of his 'A Call from Space' initiative
Geostrategy
Serious efforts needed to tackle Arab world challenges
He stresses on resolving the Palestinian issue, expressing concerns over escalating Israeli attacks and calling for a collective response to...
- OIC Secretary General Hussein Ibrahim Taha highlights the need for strengthening cooperation amid delicate circumstances in Arab and Islamic world
- During the Arab League Summit, Taha also underscores the importance of resolving the Palestinian issue and calls for a collective international response
Economy
UAE takes steps for smooth rollout of corporate tax
The Ministry of Finance calls on public to rely only on official publications for information on the tax law, while...
- The Ministry of Finance calls on public to rely only on official publications for information on the tax law, while Dubai launches an integrated training programme for awareness
- The new "Tax Agents Classification" initiative, meanwhile, aims to simplify tax compliance for taxpayers by allowing them to select a specialized Tax Agent based on their sector
Geostrategy
Leaders call for unity, peace, progress in Arab world
The Arab League Summit, which concluded on an optimistic note in Jeddah, highlighted the need for unified Arab positions and...
- The Arab League Summit, which concluded on an optimistic note in Jeddah, highlighted the need for unified Arab positions and effective strategies to confront current challenges
- Several leaders, including those from Egypt, Jordan, and the UAE, focused on issues such as national state preservation, economic cooperation, and regional stability
Geostrategy
Syria, Ukraine join as Arab League Summit kicks off
Syrian President Bashar al-Assad returns to Arab League Summit, which confronts conflicts across the Middle East and beyond, including the...
- Syrian President Bashar al-Assad returns to Arab League Summit, which confronts conflicts across the Middle East and beyond, including the war in Ukraine.
- Ukrainian President Volodymyr Zelensky meets Saudi Crown Prince Mohammed bin Salman and thanks him for backing Ukraine's sovereignty ahead of the summit
Business
OPEC-China alliance key to global oil market stability
A pragmatic framework for cooperation has been established between the two entities, fostering an ongoing exchange of views on mutual...
- OPEC Secretary-General Haitham Al Ghais emphasizes the importance of the dialogue partnership with China, with a plan to reinforce and strengthen it
- A balanced framework for cooperation between OPEC and China has been established, facilitating an ongoing exchange of views on mutual energy issues, he says
Business
9% corporate tax takes effect in UAE from June 1
The move aims to foster compliance and business activity, with special exemptions for Free Zone transactions and small enterprises.
- Individuals can now be classified as a business if their income stream surpasses a specified amount, or if their held assets exceed a certain value
- UAE employees drawing income from a singular source or salary payment need not be concerned, as salaries will continue to remain exempt from income tax
Economy
Strong non-oil sector growth to push UAE real GDP up 2.8% in 2023: WB
The Emirates' non-oil sector is projected to grow by 4.8 percent, driven by robust domestic demand, particularly in tourism, real...
- The economies of the Gulf Cooperation Council (GCC) are projected to grow by 2.5 percent in 2023 and 3.2 percent in 2024.
- A report released by the bank also said that the direct medical costs of seven major non-communicable diseases in GCC region was around $16.7 billion in 2019 alone.
Aramco 2025 net profit $104bn, to pay $85.4 bn in dividends
Dubai, UAE -- Saudi Arabian Oil Co. (Aramco) reported a net profit of $104.7 billion for 2025, a decline from...
Business
Company News
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Investment Facilitation for Development pact finalized at Abu Dhabi WTO meet
Abu Dhabi, UAE -- Ministers representing 123 World Trade Organisation (WTO) members have finalized the Investment Facilitation for Development (IFD)...
Geostrategy
‘Innovative startups key to national prosperity’
"Investing in youth, inspiring ideas, and transforming them into creative projects is a cornerstone for facing global challenges in many...
Economy
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WEF24: Innovation and diversification drive UAE growth
The UAE's proactive approach is helping it in shaping a dynamic and prosperous future, says UAE's Economy Minister Abdullah bin...
- The UAE's proactive approach is helping it in shaping a dynamic and prosperous future, says UAE's Economy Minister Abdullah bin Touq Al Marri.
- Al Marri emphasizes the critical role of collaboration and visionary leadership in steering through the complexities of today's fast-paced world.
Arts & Culture
AI-Operated robots assist visitors to the Grand Mosque in Makkah
Makkah, Saudi Arabia -- The Presidency of Religious Affairs at the Grand Mosque and the Prophet's Mosque has deployed AI-operated...
- The robots provide information and guidance on a variety of topics, including how to perform the Hajj and Umrah rituals, Islamic rulings and fatwas.
- They also provide directions to different locations within the mosque, and translations in multiple languages.
Business
UCC Holding signs contracts for seven Kazakhstan projects
Doha, Qatar -- UCC Holding, a Qatari company, has signed two energy contracts for seven projects in Kazakhstan.The first contract...
- The first contract with QazaqGas includes two gas treatment plants:1 BCMA Gas Processing Plant Project and 2.5 BCMA.
- The second contract includes the construction of a combined cycle gas turbine (CCGT) power plant with a total capacity of about 1,100 MW in the Kyzylorda region.