Saudia to acquire 20 wide-body aircraft
10 of these being acquired for its flydaeal low-cost airline
Business
$20 million rare blue diamond goes on show in Abu Dhabi
Abu Dhabi, United Arab Emirates -- A rare blue diamond valued at $20 million went on pre-auction display on Tuesday...
Business
stc net profit for 2024 $6.58bn
Business
DAE net profit up 36.2%
Business
All six lines of Riyadh Metro are now operational
The Royal Commission for Riyadh City (RCRC) announced that the phased rollout of Riyadh Metro culminated as of Sunday, Jan....
- The Royal commission announced the operation of three new stations on the Blue Line
- Riyadh Metro users will be received from 6:00 am until 12:00 midnight
Business
Saudi PMI falls to 58.4 in Dec as non-oil private sector improves
Riyadh, Saudi Arabia -- The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia...
- The index has remained above the neutral level (50.0 points) since September 2020.
- Business conditions experienced a marked improvement, propelled by a substantial surge in new orders.
Business
Desert truffles: Saudi Arabia’s buried treasure
The 10-day Qassim Truffle Festival, currently in its fourth year, features 18 booths showcasing truffles, a dedicated auction area and...
- Fertile soil, untouched land, access to fresh water, a suitable climate, and the presence of the Helianthemum plant contribute to growth of desert truffles.
- The Qassim Truffle Festival, currently in its fourth year, is a testament to the region's truffle production.
Geostrategy
Israeli invasion destroys 90% of Gaza livestock, poultry farms
Gaza, Palestinian Territories - The Israeli forces have decimated 90 percent of 2,500 poultry and cattle farms in Gaza during...
- A million turkeys distributed across 150 farms, were culled, in addition to 80 percent of the total domestic poultry population, estimated to be 300,000 birds.
- Israeli forces destroyed 90 percent of the 100 cattle farms, which were breeding 50,000 calves annually, and culled 2,200 cows in 400 farms.
Business
Emirates’ first A350 takes flight
The airline operated the inaugural flight from Dubai to Edinburgh.
- The aircraft, featuring Emirates' latest cabin products, is the first of 65 A350s joining the airline's fleet over the coming years.
- Emirates has configured its A350 to provide three cabin classes, accommodating 312 passengers in 32 next-generation Business Class lie-flat seat.
Geostrategy
Winter rains, flooding and limited aid worsen Gaza tragedy: IOM
"Vulnerable people, including at least seven infants, have died from hypothermia, and these tragic deaths underscore the urgent need for...
- As of mid-Dec, the Shelter Cluster, a coordination group of UN, international and local humanitarian, estimates at least 945,000 still urgently need winterization assistance.
- IOM has delivered nearly 180,000 emergency shelter items to partners inside Gaza since mid-November and has over 1.5 million more winter supplies.
Business
Oil extends gains on hopes of policy support for economic growth
Singapore - Oil prices extended gains on Friday after closing at their highest in more than two months in the...
- Brent crude futures rose 16 cents, or 0.2 percent, to $76.09 a barrel after settling at its highest since Oct. 25 on Thursday.
- Lower interest rates should spur more economic growth which would lead to higher fuel consumption.
Business
Dubai Airport set for record start to 2025: 4.3m guests in 15 days
Dubai, UAE -- Dubai International Airport (DXB) is on track to welcome 4.3 million guests in the first 15 days...
- With an average of 287,000 guests passing through daily during this period DXB is operating at volumes akin to its busiest months ever.
- This performance reflects a surge in international visitors flying out after the festive season, coupled with residents returning from holidays.
Business
Dubai real estate market saw record transactions worth $142.1bn in 2024
Dubai, UAE -- Dubai’s real estate market recorded 180,900 transactions worth AED 522.1 ($142.1 billion) in 2024, a market report...
- The transaction volume surged by 51 percent to 119,800 in 2024, reflecting a substantial increase in buyer confidence and developer activity.
- There was also a steady appreciation in the average price per sq ft, which was up 10 percent to AED 1,600.
Geostrategy
Israeli forces killed 45,553 Palestinians since Oct 2023: Health ministry
Gaza, Palestinian Territories -- The Israeli forces have killed at least 45,553 Palestinian civilians and injured at least 108,379 others,...
- At least 108,379 other civilians, most of them children, have been injured and thousands remain under debris.
- The ministry said the Israeli forces committed two massacres against Palestinian families in the Gaza Strip over the past 24 hours.
Saudia to acquire 20 wide-body aircraft
10 of these being acquired for its flydaeal low-cost airline
Business
Company News
Dar Alarkan 2024 profit up 32%
Business
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stc net profit for 2024 $6.58bn
Business
Japan puts world’s most accurate clock on sale for $3.3 million
The "Aether clock OC 020" is so precise that it would take 10 billion years for it to deviate by...
Science
ADNIC okays 45% dividend for 2024
The company achieved its highest ever revenue and net profit.
Business
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Business
DAE net profit up 36.2%
Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.
- Total assets reached more than US$13 billion by the end of 2024 compared to US$12.26 billion in 2023.
- DAE said it acquired 83 aircraft (owned: 30; managed: 53) and sold 68 (owned: 19; managed: 49).
Business
Abu Dhabi records $2.88 billion in real estate transactions in January
Abu Dhabi, UAE -- Abu Dhabi’s real estate market recorded AED10.6 billion in transactions in January, totaling 2,514 property deals.According...
- DARI real estate platform of the Department of Municipalities and Transport in Abu Dhabi, sales transactions totaled AED 6.5 billion across 1,730 deals.
- Meanwhile, mortgage transactions from the beginning of the year until the end of January amounted to AED3.9 billion across 756 deals.
Business
Dubai’s real estate sector records $207 billion in transactions in 2024
Dubai, UAE -- Dubai’s real estate sector recorded a total of 2.78 million procedures in 2024, the highest in its...
- Real estate transactions alone totaled 226,000, a remarkable 36 percent growth in volume and 20 percent growth in value year-on-year.
- The sector recorded 217,000 investments valued at AED526 billion, reflecting impressive growth rates of 38 and 27 percent in number and value respectively.