Vance rebukes Israeli critics of Trump-Iran deal, says US remains Israel’s only ally
Vance said that if he were serving in Israel's cabinet, he would not be "attacking the only powerful ally that...
Geostrategy
Abu Dhabi climbs global startup rankings on AI and tech growth
The emirate was ranked in the #41-50 category globally, improving from the #51-60 range a year earlier and marking one...
Business
Geostrategy
Palestinians reduced to antagonists in someone else’s story: Queen Rania
In a powerful speech at the first-ever Web Summit Qatar conference, while calling for an immediate end to the war...
- Palestinian story has been obscured, allowing Palestinians to be dehumanized, discredited, and “turned into a people unto whom anything can be done, without consequence.”
- Their many attempts at non-violent resistance – from historic strikes and civil disobedience, to Gaza’s Great March of Return – have been crushed, even criminalized,” she said.
Business
Luberef net profit falls 24%
Decline attributed to lower prices for base oils, secondary products.
- The company also reported a decrease in base oils and secondary products’ cracking margins, despite higher sales volumes.
- The fourth-quarter net profit dropped 65 percent to SAR 268.7 million from SAR 763.19 million in Q4 2022.
Business
Pakistan-Iran gas pipeline recommences after 10-year delay
Tehran, Iran -- In a significant step towards enhancing energy cooperation between Pakistan and Iran, Islamabad has given the green...
- The approval comes as Pakistan has scrambled to avoid a staggering $18 billion fine. Analysts say the project will improve Pakistan's energy security.
- Iran has extended the project deadline by 180 days until September 2024 so as to avoid a legal dispute with Pakistan at international tribunals.
Geostrategy
Russia in contact with OIC on upcoming presidential vote
Moscow, Russia -- Moscow is maintaining close contact with officials from the Arab League and the Organization of Islamic Cooperation...
- "We are always in contact on all issues, including election cycles in our countries, and we coordinate our approaches," said Russian Deputy Foreign Minister Mikhail Bogdanov.
- The senior diplomat pointed out in this regard that he "himself attended Palestine’s elections as an observer in the past."
Business
Saudi Arabia surpasses 2030 tourism target of 100 million visitors
The Kingdom drew praise for this achievement from UN Tourism and the World Travel & Tourism Council. Motivated by this...
- International tourists numbered 27.4 million, a substantial 56 percent increase over 2019 and an impressive 65 percent rise compared to 2022.
- Tourism has proved to be a significant contributor to the nation’s economy, with domestic and international tourists spending over SAR 250 billion ($66.65 billion) in 2023
Business
Aramco signs $6bn purchase agreements with local suppliers
Dhahran, Saudi Arabia -- Energy giant Saudi Aramco Tuesday announced that it has signed 40 corporate purchase agreements worth $6...
- The new purchase agreements cover companies in multiple sectors and include the supply of a variety of products, including strategic goods.
- In the same context, Saudi Aramco signed two memorandums of understanding with strategic partners to cooperate in the field of localization and supply chain development.
Business
Mashreq closes $88m loan
The one-year syndicated term facility was closed for Agrobank.
- Mashreq acted as sole coordinator, initial mandated lead arranger, bookrunner, and facility agent for the deal.
- Marking a debut transaction for an Uzbekistan state-owned bank in the MENA region, the facility was oversubscribed by 75 percent.
Business
Maaden net profit falls 83%
The company's fourth-quarter net profit declined 12% YoY.
- The net profit decreased due to a decline in sales (by 27% YoY from SAR 40.27bn to 29.27bn) on the back of lower commodity market prices of all products except gold.
- Net profit was also impacted by higher finance cost due to increased borrowing rates and lower share of profit from joint ventures on the back of lower commodity market prices.
Business
SABIC AN profit falls 64%
The company had posted a profit of $2.67 billion in 2022.
- The company attributed the profit decline to lower revenue, which fell by 42 percent year-on-year (YoY) due to a 43 percent drop in average selling prices.
- The fourth-quarter net profit slumped 55 percent to SAR 977.91 million from SAR 2.16 billion in the prior-year period.
Geostrategy
Ghobash: WTO meet to make difference in people’s lives
Abu Dhabi, UAE -- The Abu Dhabi Session of the Parliamentary Conference on the World Trade Organization (PCWTO) was inaugurated...
- He added that implementing such agreements promotes hope globally that world nations are capable of going beyond geopolitical barriers to make a tangible impact
- The Abu Dhabi Session of the PCWTO saw the attendance of a number of ministers and nearly 300 parliamentarians.
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Vance rebukes Israeli critics of Trump-Iran deal, says US remains Israel’s only ally
Vance said that if he were serving in Israel's cabinet, he would not be "attacking the only powerful ally that...
Geostrategy
Company News
Latest News
Israeli strikes on Lebanon kill dozens
The strikes hit multiple areas, including parts of Beirut, with emergency teams struggling to reach casualties amid heavy congestion. The...
Geostrategy
Masdar, TotalEnergies $2.2bn venture to push renewable energy growth in Asia
Dubai, UAE -- Masdar and TotalEnergies have signed a binding agreement to establish a $2.2 billion 50/50 joint venture aimed...
Business
Geopolitics, risk aversion and crypto: Why this time may be different
Bitcoin has already endured five consecutive months of declines since reaching an all-time high of $126,500 in October 2025. February...
Opinion
Most Read
Business
National Bonds reports record 2025 results as funds exceed $4.9 billion
National Bonds said it posted its strongest annual performance in two decades, with bondholders’ funds surpassing $4.9 billion in 2025....
- The company has distributed more than $1.09 billion in profits and rewards since inception.
- National Bonds said it has helped create 232 millionaires through disciplined savings programs.
Geostrategy
Countdown begins for NASA’s historic Moon mission
If successful, Artemis II will carry four astronauts on a lunar flyby, testing critical systems needed for future missions that...
- The launch window opens April 1 at 6:24 pm local time, with backup opportunities available through April 6.
- The crew — including three Americans and one Canadian — is in quarantine ahead of the mission, which will mark several historic firsts.
AD Ports records $564 million 2025 net profit
The company said revenue grew 20 percent year-on-year to $5.65 billion, while net profit increased 16 percent, supported by strong...
- The company said its customer base grew by nearly 20 percent in 2025, while spending by its top 10 customers rose around 40 percent.
- AD Ports also said it would raise about $1.25 billion through an asset monetization programme.