Wild AI, a royal letter and big hugs – a week in Trumpworld
Washington, United States - President Donald Trump closed out a packed week at the White House after hosting a string...
Arts & Culture
$2.65bn in contracts signed during first two days of IDEX and NAVDEX 2025
Abu Dhabi, UAE -- Tawazun Council, UAE's authority responsible for managing acquisitions, procurement, and contracts on behalf of the Ministry...
Business
Business
DIB logs 15% net profit growth
The bank recorded a total income of $2.53 billion.
- The bank's net financing and sukuk investments have reached $68 billion
- Total income rose to $2.53 billion, reflecting a 49 percent YoY increase
Business
EasyLease revenue grows by 37.5%
The company logged a net profit of $4.4m.
- The company registered a net profit of $4.4 million, compared to $6 million in the previous corresponding period
- A subsidiary of Abu Dhabi-based International Holdings Company (IHC), Easylease has recently reaffirmed its 2023 guidance
Business
DIB H1 2023 net profit $844m Â
Profit driven by core revenues, effective cost management.
- Gross new underwriting and sukuk investments during H1 2023 reached US$12 billion compared to US$8.9 billion in H1 2022.
- Total income reached to US$2.5 billion compared to US$1.6 billion, a solid expansion of 49 percent year on year.
Business
L&T Construction secures orders in Saudi Arabia, Malaysia, India
Dubai, UAE - L&T Construction, part of Larsen & Toubro, has secured new orders in Saudi Arabia, Malaysia, and India....
- The company will construct a ±525kV High Voltage Direct Current (HVDC) transmission segment in Saudi Arabia
- In the Sarawak region of Malaysia, L&T Construction has won an order to establish a 275kV Substation
Business
Qatar Airways, British Airways, Iberia form new joint venture
Doha, Qatar -Qatar Airways, British Airways, and Iberia have come together to form a new joint venture In a move...
- With the addition of Iberia, the national carrier of Spain, to the existing BA-QR partnership, travelers can now enjoy enhanced worldwide connectivity
- Customers from the Middle East, Africa, Asia, and Australia will benefit from seamless travel to popular Spanish and Portuguese destination
Business
UAE Government’s Q1 revenues total $31.3 billion
Abu Dhabi, UAE - The UAE government’s revenues amounted to AED115.6 billion ($31.3 billion) and its expenditures totaled AED92.5 billion...
- The results of financial transactions during the first quarter shows the value of net lending and net borrowing amounted to $6.3 billion
- The value of total expenditures worked out $25.0 billion ,comprising net investment in nonfinancial assets and current expenses
Business
KEZAD Group, Al Jazeera Steel Products to establish $68m rolling steel mill
Abu Dhabi, UAE - Khalifa Economic Zones Abu Dhabi or KEZAD Group, and Al Jazeera Steel Products Co, held the...
- The establishment of the mill over an area of 210,000 square metres in KEZAD aims to enhance steel manufacturing capabilities
- The 450,000 tonnes per annum medium section mill will answer the growing customer demand for its products
Economy
200 digital companies participate in Dubai Chamber’s China roadshow
Dubai, China - The roadshow of Dubai Chamber of Digital Economy across five cities of China saw the participation of...
- The delegation held more than 55 business meetings in cities such as Shanghai, Shenzhen, Hainan, Jinan, and Beijing
- These meetings served to introduce Chinese companies to Dubai's thriving digital ecosystem and facilitate their potential expansion into the emirate
Business
Multiply Group Q2 2023 profit is $108m
The group's public market portfolio stands at $9.1bn.
- The profit from Multiply Group’s operating entities witnessed a surge of 33.6% in Q2 2023, compared to the same period last year
- Multiply Group is seeing more value accretive acquisition opportunities emerge globally across its operating verticals and investment arm
Economy
Iran clothing industry employs over 2m people: official
Tehran, Iran – The clothing industry in Iran which employs around two million people grew by 17 percent last year...
- Currently 100,000 production units have been registered in the garment industry
- These statistics do not include the stores operating on the virtual space and also unauthorized people
Wild AI, a royal letter and big hugs – a week in Trumpworld
Washington, United States - President Donald Trump closed out a packed week at the White House after hosting a string...
Arts & Culture
Company News
Latest News
Saudi solar company ALUPCO partners with Mexico-based Array technologies
Riyadh, Saudi Arabia - Saudi Arabian aluminum extrusion company Aluminum Products (ALUPCO) has entered into a strategic collaboration with Array...
Business
Saudi Arabia pursues AI hub future: PIF Governor
Riyadh, Saudi Arabia - Governor of Saudi Public Investment Fund (PIF) Governor Yasir Al-Rumayyan on Thursday positioned Saudi Arabia as...
Economy
Saudi Arabia, China sign MoU to develop air transport cooperation
Beijing, China - Saudi Arabia and China on Thursday signed a memorandum of understanding (MoU) to develop air transport cooperation. The...
Business
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Geostrategy
Saudi foreign minister seeks G20 action on Gaza
Rio de Janeiro, Brazil - Saudi Foreign Minister Prince Faisal bin Farhan called on G20 nations to apply pressure for...
- Prince Faisal voiced these sentiments during the inaugural session of the G20 Foreign Ministers' Meeting in Rio de Janeiro, Brazil
- The Saudi minister underlined the imperative for international institutions to uphold their commitments globally and adopt clearer stances
Economy
Saudi Arabia’s trade surplus remains stable at $26bn
Riyadh, Saudi Arabia - Saudi Arabia's trade surplus remained stable at SR97 billion ($25.8 billion) in the fourth quarter of...
- The report indicates a 14.4 percent decline in merchandise exports during the fourth quarter compared to the same period in 2022
- Non-oil exports experienced a 1.2 percent decrease, with the chemical industry products, constituting a third of non-oil exports, witnessing an 18 percent decline
Business
Over 6,000 F&B companies join Dubai Chamber of Commerce in 2023
DUBAI, UAE – President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah has revealed that 6,478 new Food and...
- The total number of F&B companies registered with Dubai Chamber of Commerce stood at 22,585 at the end of 2023.
- Dubai Chamber of Commerce launched 11 business groups dedicated to the industry, eight of which were set up in 2023.