First internationally recognized renewable ammonia shipment made
Dubai, UAE -- Abu Dhabi-based Fertiglobe, a strategic partnership between ADNOC and OCI Global, has completed the maiden shipment of...
Business
PIF seeks to increase stake in Egypt’s e-Finance by 2 percent
Riyadh, Saudi Arabia -- Ibrahim Sarhan, the Chairman and Managing Director of e-Finance for Digital & Financial Investments based in...
Business
A Saudi mom can now vouch for her child to open a bank account
Before this decision, a married mother had to bring her husband or obtain court's consent to open an account for...
Saudi Arabia allows a Spanish solar power firm to set up plant in the kingdom
PV Hardware Middle East will manufacture trackers, mounting structures, and cleaning robots for the Saudi solar market
Qatar is the go to place for migrants workers looking for a decent life
Qatar employs some 2.3 million migrant workers in a total population of 2.6 million
Egypt, Ever Given continue to spar over compensation for Suez blockage
The Suez Canal Authority (SCA) claimed more than $916 million in damages, but out-of-court negotiations lowered the figure to $550...
Zain launches Middle East’s first mental wellness support for employees
All 7,000 Zain employees to get mental health counseling from psychologists Zain expects Rise will increase employee retention, loyalty Zain...
Digital transformation boosts data economy growth in UAE: Report
Data economy on track to become one of the largest economic sectors globally The report suggests stepping up collaboration among...
Vantage Capital invests $23 million in PickAlbatros Hotels
PickAlbatros has a portfolio of about 10,000 rooms across the Red Sea resort towns Vantage Capital partner David Kornik expects...
Jean Marie Bockel appointed Middle East GPF ambassador
GPF hopes appointment will strengthen its business ties with the region Active in 88 countries, GPF fosters business relations between...
AUS, Petrofac partner to improve solar energy efficiency
AUS, Petrofac develop a technology that can remotely assess the cleanliness of solar panels Abundant sunlight makes the UAE a...
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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
First internationally recognized renewable ammonia shipment made
Dubai, UAE -- Abu Dhabi-based Fertiglobe, a strategic partnership between ADNOC and OCI Global, has completed the maiden shipment of...
Business
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Saudi tourism on growth path despite hiccups
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Saudis, Emiratis gain wealth, but disparity remains
In 2022, 45 percent of adults in Saudi Arabia had a net worth of less than $10,000, against 43 percent...
Economy
Riyad Capital okays 2.5% cash dividend
The SAR 0.25 per unit dividend will be paid to Riyad REIT Fund's unitholders.
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Five skills workers require in real estate
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Business
Yalla Group H1 revenue $152m
The Group posted revenues of $79 million in the second quarter.
- The revenue grew by 2.9% compared to the first half of last year, while the net income in H1 2023 was recorded at AED176.9 million ($48.2m)
- Yalla displayed strong performance in the second quarter of the year where it posted revenues of AED291 million (around $79.2 million)
Business
APIC H1 net profit down 39%
Total revenues grew by 7.2% YoY to $590 million.
- Net profits attributed to APIC shareholders in the first half of 2023 reached $11.08 million.
- Total assets increased by 8.74 percent compared to 2022's closing and reached $756 million.
Business
Mawani adds 20 cargo services to Saudi Arabia’s ports in H1
Riyadh, Saudi Arabia -- The Saudi Ports Authority (Mawani) has added 20 cargo services to the ports of Jeddah, Dammam,...
- Transshipments gained 12.19 percent over the prior year’s volume of 1,391,221 TEUs to reach 1,560,790 TEUs in H1 2023.
- A total of 5,918 vessels called at Mawani’s ports during this year’s first half, up 10.68 percent year-on-year from 5,347 ships.