Search Site

Trends banner

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Yalla Group Q1 revenue $83m

Net income rose to $36.4 million, a 17% YoY increase.

China’s new tariffs policy to hasten industrial transformation

Beijing, China -- China's import and export tariff adjustments on some goods took effect on Monday, including implementing provisional import...

Qatar’s foreign merchandise trade surplus $4.58 billion in Nov 2023

Doha, Qatar -- Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...

Presight, Samruk-Kazyna to form JV

Samruk-Kazyna is Kazakhstan's $70bn asset sovereign wealth fund.
  • The joint venture aims to accelerate digital transformation in Kazakhstan.
  • Presight will deploy its AI and big data analytics solutions and technologies.

World’s biggest sustainable farm in Saudi enters Guinness Records

Riyadh, Saudi Arabia – A farm in Saudi Arabia has entered the Guinness World Records as the world's largest sustainable...
  • The farm is one of the extension farms of the rejuvenated water farming research unit of the Bin Heshbal Valley in the Asir Region.
  • The total area of the farm is 3.2 million square meters, divided into two sections, each with a concrete tank with a capacity of 500 cubic meters.

Dollar sukuk activity for 2023 on course to outpace 2022: Fitch

Dubai, UAE: US dollar sukuk issuance for 2023 is on course to outpace 2022 due to funding needs and diversification strategies,...
  • The third quarter sukuk issuance in all currencies ($51.7 billion equivalent) issued in core markets was 12.3 percent lower YoY, while bond issuance fell by 17 percent YoY.
  • Global outstanding sukuk expanded by 9.8 percent YoY to $823.4 billion at the end of third quarter, with the largest shares in Malaysia (40 percent).

US to place second aircraft carrier in Mediterranean: White House

Washington, United States -- The second American aircraft carrier, the Dwight Eisenhower, will be placed in the Mediterranean Sea, coordinator...
  • "We’re sending a loud and clear message: The US is ready to take action should any actor hostile to Israel consider trying to escalate this war," said John Kirby.
  • Tensions flared up again in the Middle East on October 7 when Hamas attacked Israeli territory from the Gaza Strip.

Qatar signs joint cooperation agreements with IMF on SDRs

Dubai, UAE - Qatar has signed two agreements with the International Monetary Fund (IMF) on its contributions towards IMF's poverty...
  • Under one of the agreements, Qatar's contribution will be a loan from the special drawing rights account, a soft loan (an implicit contribution to the aid).
  • Under the Resilience and Sustainability Trust fund agreement, contributions will be in the form of subscription packages consisting of loans, deposits and reserves.

Jarir’s 9M profit down marginally

The fall was attributed to an increase in non-operating expenses.
  • The third-quarter net profit rose by 8 percent to SAR 296.3 million, from SAR 273.72 million in Q3 2022, driven by a 4.8 percent rise YoY in sales.
  • Total shareholders’ equity, no minority interest, stood at SAR 1.79 billion as of Sept. 30, 2023, down from SAR 1.80 billion a year earlier.

Aramco looks to invest in Shangong Yulong Petrochemical

Dhahran, Saudi Arabia -- Aramco has signed an MoU that paves the way for Aramco's potential acquisition of a 10...
  • Aramco signed an MoU with Nanshan Group, Shandong Energy Group, and Shandong Yulong Petrochemical to pave way for the acquisition.
  • Shandong Yulong is presently in the final stages of constructing a significant refining and petrochemical complex with the capacity to process approximately 400,000 barrels per day

MENA awards $101 billion construction projects in first half

Dubai, UAE -- Despite global economic uncertainties, the construction industry in the Middle East and North Africa (MENA) awarded a...
  • The lion's share of these projects, approximately 67 percent, hailed from Saudi Arabia, contributing $44 billion, and the United Arab Emirates (UAE), accounting for $23 billion.
  • The collective estimated value of the project pipeline in the MENA region surpassed $3 trillion, with Egypt, Saudi Arabia, and the UAE owning more than 60 percent of it.

SIRC and Edama sign partnership

They will create a joint company to upgrade organic waste recycling.
  • The joint project will help in meeting the challenge of sustainable waste management and contribute to creating a national circular economy.
  • The project will provide a solution to the challenges faced by the Saudi Green Initiative (SGI) in its mission to plant 10 billion trees.

Silal acquires stake in SAFCO

SAFCO Group is a food and beverage distributor in the UAE.
  • Last year, Silal, in collaboration with Hoogendoorn, one of the world’s innovators in horticulture, launched the Digital Agronomy Service.
  • The Service saw deployment of IoT sensors in 100 farms over the course of 2022.

China’s new tariffs policy to hasten industrial transformation

Beijing, China -- China's import and export tariff adjustments on some goods took effect on Monday, including implementing provisional import...

Latest News

Aramco to acquire 40% stake in GO

Gas & Oil is one of the largest retail and storage firms in Pakistan.

SABIC announces 16% H2 cash dividend

The dividend of $1.27 billion is payable on Mar 4, 2024.

PureHealth offer price $0.89 per share

The IPO witnesses demand of over AED 265bn ($72.15bn).

Most Read

Oman’s revenues drop by 17 percent in nine months of 2023

Muscat, Oman -- Oman's revenues for the nine-month period of 2023 declined 17 percent to 9.8 billion riyals ($25.45 billion),...
  • During the nine-month period, the budget recorded a financial surplus of about RO 830 million, compared to a surplus of RO 208 million in the same period of 2022.
  • Net gas revenues until the end of last October decreased by 43 per cent to reach RO 734 million compared to RO 3 billion and 51 million.

NDMC secures syndicated international loan worth $11bn

Riyadh, Saudi Arabia -- The National Debt Management Center (NDMC) completed the arrangement of a syndicated international loan worth $11...
  • A total of 14 international financial institutions from Asia, the Middle East, Europe, and the US participated in the 10-year loan.
  • The success of this loan arrangement proves the Kingdom’s proactive trends to provide financing resources that achieve economic growth and diversification, NDMC said.

NEOM launches ‘Topian’ to ensure climate-proof agriculture in Saudi

NEOM, Saudi Arabia: NEOM, a mega-city project in Saudi Arabia characterized by futuristic urban planning and advanced technologies, Sunday announced the...
  • Topian has been launched with the support of the Saudi Ministry of Environment, Water and Agriculture (MEWA).
  • Topian has signed numerous local and international strategic partnership agreements with organizations that share Topian’s commitment to reshaping the future of food.