14 financial giants confirm expansion into Abu Dhabi: ADGM
Abu Dhabi, UAE -- Abu Dhabi Global Market (ADGM), a leading international financial center of the UAE’s capital, Thursday announced...
Business
SAB H1 profit up 59%
Business
Borouge Q2 net profit $231m
Business
Egypt jumps to third place in Offshore BPO Confidence Index
Cairo, Egypt -- Egypt's global prominence received a boost as it jumped from 11th to third place in the 2023...
Business
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...
Saudi bourse’s 2020 net profit surged ahead of listing
Tadawaul Group also said revenue more than doubled It posted a profit after zakat of $133.5 million Saudi Tadawul Group,...
Digital banks in Saudi Arabia to reduce costs and stimulate competition: SAMA
Saudi Cabinet Okayed issuing licenses for country's first digital banks Digital banks concept broader than financial technology companies Digital banks...
Suspected cases of corporate collusion in Saudi Arabia surge in 2021
The value of the project under investigation $267 million From 15 in 2019, cases rose to 86 in 2021 Cases...
Oman launches investment residency scheme for foreigners
The residency period is for a renewable period of five or 10 years Low oil demand and pandemic have hit...
More blackouts ahead as Lebanon generators starved of fuel
National run power network is prone to blackouts Officials blame the shortages on stockpiling, smuggling The owners of private generators...
Israelis taste the future with lab-grown chicken ‘food revolution’
Scientists claim lab-grown meat environmentally friendly way to feed the people The process involves cultivating cells taken from a fertilized...
Jeddah Economic City: 90% of road, landscaping work done
The megaproject includes the world's tallest tower The city will have 210 towers that will be over 30 floors high...
Egypt-UK trade up 8 percent to $722m in Q1 2021
Britain third-largest investing country in Egypt after UAE, Saudi Arabia Egyptian food exports to UK surged by 76 percent despite...
14 financial giants confirm expansion into Abu Dhabi: ADGM
Abu Dhabi, UAE -- Abu Dhabi Global Market (ADGM), a leading international financial center of the UAE’s capital, Thursday announced...
Business
Company News
SAB H1 profit up 59%
Business
Borouge Q2 net profit $231m
Business
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NBF H1 net profit up 120 percent
Business
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...
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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.