Chinese tourism bookings to Saudi surge 277% after mega promotional campaign
Shanghai, China -- In a bid to attract Chinese tourists, the Saudi Tourism Authority recently concluded its first, and the...
Business
56% Saudi consumers willing to pay premium for green transportation
Riyadh, Saudi Arabia -- An overwhelming 80 percent of consumers across 16 diverse nations now identify climate change as the...
Geostrategy
Mubadala sells 4.5 percent Oil Search stake for $275m
Abu Dhabi’s sovereign wealth fund Mubadala Investment Company has offloaded A$363 million ($274.82 million) share in Oil Search, which has...
UAE extends ban on flights from India, 13 other countries
A notice to airmen (NOTAM) issued by the UAE civil aviation authority informed the airlines of suspension of flight services...
51% MENA businesses face financial crime risks: Refinitiv
Growth in digitalization has led to an increased risk of cybercrime Risk and compliance practices may fall short of global...
Lufthansa Technik to provide technical expertise to Joramco
The agreement will allow Joramco to enhance its in-house capabilities LTME will relocate a number of its spares to Joramco...
Pfizer-Biotech vaccine considered safest by UAE, Saudi residents
Pfizer jab more likely to be trusted by 25-34 age group adults AstraZeneca vaccine considered second safest vaccine in both...
UAE and Israel to sign more cooperation deals
The two countries normalized ties last year Israeli foreign minister calls new consulate a 'center of cooperation' The United Arab...
Emirates NBD expects UAE GDP to grow by 1.5 percent in 2021
Revenues to grow 12 percent on higher oil prices and taxes A 7 percent increase in total government expenditure also...
UAE, France team up for research and development in nuclear energy
Exploring the product of green hydrogen powered by carbon-free nuclear energy part of the deal French company EDF owns the...
Saudi Arabia mulls industrial zone in Oman
Saudi Arabia has launched a plan to wean the economy off oil Oman said it will start granting residence visas...
Aries Group to make dowry-takers leave, face legal action
The group had announced anti-dowry policy on International Women’s Day The clause incorporated in the employment contract Any employee of...
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Chinese tourism bookings to Saudi surge 277% after mega promotional campaign
Shanghai, China -- In a bid to attract Chinese tourists, the Saudi Tourism Authority recently concluded its first, and the...
Business
Company News
QGIRC net profit down
Business
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Global construction industry projected to reach $12.9 trillion by 2028
Dubai, UAE -- The global construction industry is projected to reach a staggering $12.9 trillion by 2028, with a robust...
Business
ADGM’s Registration Authority fines KPMG Lower Gulf $30,000
Abu Dhabi, UAE -- The Registration Authority (RA) of Abu Dhabi Global Market (ADGM) has fined ADGM-registered audit firm, KPMG...
Business
Viacom18 nets Indian cricket broadcast rights for $721 million
Media rights are a huge earner for the Board of Control for Cricket in India (BCCI), one of the richest...
Business
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Business
Borouge to pay $650m H1 dividend
The interim dividend is equivalent to 7.9 fils per share.
- The interim dividend will be paid to shareholders who have purchased Borouge shares as of 7 September 2023.
- This represents the first part of the expected total FY 2023 dividend of $1.3 billion (AED4.8 billion), equivalent to 15.8 fils per share.
Business
EGA H1 net profit $533 million
The firm expects growth in primary production and recycling business.
- EGA announced H1 2023 adjusted EBITDA of AED4.2 billion ($1.1 billion). EGA’s aluminum segment adjusted EBITDA margin was 27 percent, leading global industry peers.
- EGA’s average realized London Metal Exchange price for its aluminum was $2,359 per ton compared to $3,063 per ton during H1 2022.
Geostrategy
EU diplomat’s threat to Russia medical supplies smacks of neo-Nazism: Official
Moscow, Russia -- Moscow considers threats by European Union High Representative for Foreign Affairs and Security Policy Josep Borrell to...
- Russian Foreign Ministry said that EU High Representative for Foreign Affairs and Security Policy Josep Borrell had threatened to take medical supplies away from the Russian people
- "EU restrictions are above all an instrument of intimidation and blackmail. We deem these new direct threats against Russians by Borrell unacceptable," a spokesperson said.