GITEX GLOBAL Day 4: Security in a world driven by AI and data takes center stage
Dubai, UAE-- On the day 4 of GITEX GLOBAL 2025, policymakers, cybersecurity leaders, and innovators convened to address the most...
Business
Business
Qatar’s Producer Price Index for Feb down 0.33 percent year-on-year
Doha, Qatar -- Qatar's general Producer Price Index (PPI) for the industrial sector for February recorded 114.01 points, showing stability...
- The PPI for the industrial sector is composed of four main sectors: mining and quarrying, which accounts for 82.46 percent of the index.
- On an annual basis, the index for this sector fell by 0.42 percent, attributed to the same decline in oil and gas extraction.
Business
Emaar to pay $2.39bn dividend
The company had posted $19bn in property sales for 2024.
- Emaar’s revenue backlog from property sales exceeded AED110 billion (US$30 billion), supporting future revenue generation.
- Total revenue for 2024 reached AED35.5 billion ($9.6 billion), marking a 33 percent year-over-year increase.
Business
Aramco acquires stake in BHIG
The 50% equity interest in BHIG is Aramco-APQ joint venture.
- The agreement brings together experts in their respective fields to provide the Jubail Industrial City area with hydrogen, including lower-carbon hydrogen, at scale.
- BHIG is expected to commence commercial operations to produce blue hydrogen in coordination with Aramco's carbon capture and storage (CCS) activities in Jubail.
Business
ADNOC L&S okays $273m dividend
The final dividend of $136.5m will be paid on April 3.
- ADNOC L&S delivered exceptional financial growth, driven by strong market demand, strategic acquisitions, and operational efficiency, the company said.
- Revenue increased 29 percent year-on-year to over $3.5 billion (AED13 billion), while net profit rose 22 percent to $756 million (AED2.7 billion).
Business
DEWA okays $843m in H2 2024 dividend
DEWA had posted a net profit after tax of $1.96 billion for the full year 2024.
- It reported consolidated full-year revenue of AED 30.98 billion and EBITDA of AED 15.73 billion for 2024.
- It said the consolidated annual revenue grew by 6.17 percent, primarily driven by rising demand for electricity, water, and cooling services.
Business
ADQ and US equity firm ECP to invest $25bn in data center energy projects
Dubai, UAE -- Abu Dhabi sovereign wealth fund ADQ has partnered with the American private equity firm Energy Capital Partners...
- Though the partnership’s primary focus will be the USA, a portion of the capital may also be allocated towards opportunities in selected other international markets.
- The combined initial capital contribution from the partners is expected to amount to $5 billion.
Business
Dar Alarkan 2024 profit up 32%
The company's net profit increased by 81.5 percent in Q4 2024.
- Argaam reported that the company's revenue increased by 38.9 percent year-on-year (YoY) to SAR 3.75 billion in 2024 driven by higher real estate sales and rental income.
- The company attributed the increase to stronger sales revenue, supported by higher property sales, along with growth in rental income.
Geostrategy
How do GCC-Arab leaders look at the region’s future?
The bigger your vision, the bigger your achievement will be. Will you stumble on the way? Perhaps, but we cannot...
- Together we will continue building a better country, fulfilling our dream of prosperity, says Saudi Crown Prince Mohammed bin Salman.
- It is vital that the next generation looks for careers in the industries of the future, so is developing the capabilities and opportunities of our youth, says Sarah Al-Amiri
Geostrategy
Ukraine to propose sky, sea truce at US talks in Saudi: official
The talks on Tuesday will be the first Ukraine-US meeting since a White House blow-up between Zelensky and US President...
- In Jeddah, the port city close to Islam's holiest sites in Makkah and Madinah, dozens of Ukrainian and Saudi flags flew on a main roundabout near the airport and on thoroughfares.
- US Middle East envoy Steve Witkoff said Washington wanted to use the talks "to get down a framework for a peace agreement and an initial ceasefire as well".
Economy
UAE’s real GDP increases by 3.8% during first nine months of 2024
Dubai, UAE -- The UAE’s real GDP increased by 3.8 percent during the first nine months of 2024 compared to...
- This growth was driven by a strong expansion in non-oil sectors, which grew by 4.5 percent to AED 987 billion.
- The contribution of non-oil activities to real GDP reached 74.6 percent, highlighting the increasing role of these sectors in supporting economic growth.
GITEX GLOBAL Day 4: Security in a world driven by AI and data takes center stage
Dubai, UAE-- On the day 4 of GITEX GLOBAL 2025, policymakers, cybersecurity leaders, and innovators convened to address the most...
Business
Company News
EGA H1 revenue $4.11bn
Business
TAQA secures $2.31bn loan
Business
Latest News
ADNOC Gas signs LNG deal
Business
Emirates NBD H1 profit $3.40bn
Business
Dubai International Chamber attracts 31 MNCs to Dubai in H1
Dubai, UAE -- Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has announced...
Business
Most Read
Geostrategy
Aldar nets $953m in sales at Fahid
Aldar said 42 percent of the buyers are under the age of 45.
- Nearly 42 percent of buyers are under the age of 45, signaling growing demand for luxury wellness-focused living among younger demographics.
- Notably, 67 percent of buyers are first-time Aldar customers, demonstrating Aldar’s expansive reach and the appeal of the Group’s thoughtfully curated destinations.
Business
Saudi EXIM Bank signs MoU with Credit Oman to boost bilateral exports
Copenhagen, Denmark -- The Saudi Export-Import Bank (Saudi EXIM) participated as a sponsor of the TXF Global 2025 conference held...
- Saudi EXIM participated as a sponsor of the TXF Global 2025 conference held in Copenhagen, Denmark, from June 10 to 12.
- Saudi EXIM Bank is a reliable partner in the global trade ecosystem, said CEO Eng. Saad bin Abdulaziz AlKhalb.
Geostrategy
Saudi, Egypt, UAE drive strategic moves across sectors and borders
Saudi Arabia records the lowest Hajj attendance in three decades—outside the pandemic years—triggered by tighter visa restrictions; Special Envoy Zhai...
- Saudi Arabia marked World Environment Day 2025. The Kingdom hosted global leaders to spotlight land restoration and desertification.
- The UAE’s EDGE Group landed a $2.45 billion deal with Kuwait to supply offshore patrol vessels.