Abu Dhabi positioned in world’s fastest-growing economic corridor: Official
Abu Dhabi, UAE -- Dr. Karim El Solh, Co-Founder and Chief Executive Officer at Gulf Capital, said Thursday Abu Dhabi...
Business
Saudi PIF secures $5 billion financing in collaboration with K-SURE
Riyadh, Saudi Arabia -- The Public Investment Fund (PIF) and Korea Trade Insurance Corporation (K-SURE) have announced the signing of...
Business
Masks up again in Israel as Delta variant drives up cases
Mask requirement reimposed for all indoor settings except the home Israel has already started its vaccine drive for children aged...
US, France must take final decisions on nuclear deal: Iran
The 2015 deal saw Iran accept curbs on its nuclear capabilities Trump unilaterally withdrew three years later Iran on Friday...
Saudi Aramco chairman Yasir Al-Rumayyan joins Reliance Industries Board
Saudi Aramco chairman and Governor of the Kingdom's Public Investment Fund, Yasir Al-Rumayyan, has been inducted into the board of...
Those spreading rumours against Covid-19 vaccine will be punished: Oman health minister
He said most people who died of Covid-19 in the country in April were not vaccinated Oman has seen more...
Europe-Gulf parliament talks soon, says top Kuwait lawmaker
The talks expected to address 'matters of mutual concern'  The Palestinian cause is one of the key issues Lawmakers from...
Iraq to build 2,000MW solar power projects in tie-up with a UAE-based firm
The project is the biggest investment in Iraq's renewable energy industry Iraq is planning to build a number of power...
Alpha Dhabi plans IPO, ADX listing with $2.2-billion capital
Alpha Dhabi also announced that it was moving ahead with its initial public offering The IPO may comprise a sale...
Fledgling UAE rail network step towards bridging the Gulf
When completed, Etihad Rail will operate 1,200 km of track connecting all of the emirates *Authorities believe freight train will...
Turks defend nature against Erdogan’s development push
A company plans to extract 20 million tons of stone from a quarry in an idyllic valley Up to 4...
PIF appoints former Samba CEO as head of compliance
Rania Nashar has more than two decades of experience in the banking sector PIF has increased its employees from 40...
Abu Dhabi positioned in world’s fastest-growing economic corridor: Official
Abu Dhabi, UAE -- Dr. Karim El Solh, Co-Founder and Chief Executive Officer at Gulf Capital, said Thursday Abu Dhabi...
Business
Company News
ESG H1 net profit $162m
Business
SAB H1 profit up 59%
Business
Latest News
Borouge Q2 net profit $231m
Business
Constructive Saudi pledges made for Lebanon assistance: Iran FM
Tehran, Iran -- Iranian Foreign Minister Hossein Amirabdollahian said Thursday that discussions with Saudi authorities have resulted in constructive statements...
Geostrategy
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
Most Read
Business
Saudi Arabia’s oil exports down 33.4 percent in second quarter
Riyadh, Saudi Arabia -- Saudi Arabia's oil exports fell by 33.4 percent to SAR 227.7 billion ($60.70 billion), from SAR...
- The value of exports amounted to SAR 291.6 billion in Q2 2023, down from SAR 427.8 billion in Q2 2022.
- The share of oil exports in total exports decreased from 79.9 percent in Q2 2022 to 78.1 percent in Q2 2023.
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.