Lebanon violence tests US-Iran accord as Israeli ministers harden rhetoric
Lebanon's Health Ministry said at least 21 people were killed and 39 wounded in overnight strikes across southern Lebanon.
Geostrategy
Trump, Iran president sign framework accord to end conflict, launch nuclear talks
The accord, signed electronically by both leaders, is intended to serve as a framework for a broader settlement rather than...
Geostrategy
Business
EDGE Group, Fincantieri launch multi-billion dollar joint venture
Abu Dhabi, UAE -- EDGE, an advanced technology and defense groups, and Fincantieri, one of the largest shipbuilding companies in...
- EDGE will hold a 51 percent stake in the venture, which has a commercial pipeline valued at approximately 30 billion euro ($32 billion).
- The JV will concentrate on sales, commercial operations, and engineering for design and service, taking charge of developing shared intellectual property.
Business
Mobily 2023 profit up 35%
The company's Q4 2023 net profit surged 23%.
- The positive performance was driven by the increase in revenue across all segments and expanding customer base.
- Mobily recorded an increase in the EBITDA by 7.22 percent to SAR 6.62 billion in 2023, compared to SAR 6.17 billion in the prior year.
Science
Saudi varsity enters Guinness records for world’s largest dental hospital
Riyadh, Saudi Arabia -- King Saud University (KSU) has achieved a new global milestone by entering the Guinness World Record...
- The King Saudi University dental hospital has a total area of 37,165 square meters.
- The university's medical city provides treatment services through its three campus hospitals and eight affiliated centers of excellence.
Geostrategy
US draft UNSC resolution supports temporary Gaza truce: Report
Dubai, UAE -- The United States has proposed a rival draft resolution at the United Nations Security Council, emphasizing its...
- The proposed resolution echoes the language US President Joe Biden's said he used in his recent discussions with Israel's Prime Minister Benjamin Netanyahu.
- Washington has been hesitant to use the term "ceasefire" in UN actions regarding the Israel-Hamas conflict and shielded Israel from UN action.
Business
SIB approves 10% cash dividend
The bank appointed Dr Al Saadi as Sharia Supervisory Committee member.
- Al Owais said SIB posted a net profit of AED851.5 million, an increase of 31 percent compared to AED650.9 million in 2022.
- He added that net operating profits saw an increase of 29 percent to reach AED1.3 billion, compared to AED1.0 billion for the previous year.
Arts & Culture
London hosts showcase for world’s biggest grand opera in Arabic
London, United Kingdom -- The production operations of Zarqa al-Yamamah Opera, the first grand opera to be produced by Saudi Arabia...
- The Zarqa al-Yamamah Opera is set to begin in Riyadh in mid-April and extend to multiple local and international performances.
- Zarqa Al-Yamamah is a legendary character in Arab history during the pre-Islamic era.
Business
solutions to pay 60% cash dividend
The company posted a 13 percent rise in net profit for 2023.
- The profit increase was mainly due to the SAR 587 million uptick in gross profit, as revenues grew year-on-year (YoY) by 25.4 percent.
- In Q4 2023, net profit fell 17.8 percent to SAR 162 million from SAR 197 million in Q4 2022.
Business
Tabreed 2023 revenue up 9%
The company reported a net profit of $204 million.
- Tabreed’s Board of Directors has recommended a record high dividend payment of 15.5 fils per share in cash.
- Net cash from operating activities totaled AED 1.31 billion in 2023 (AED 1.35 billion in 2022), while free cash flows increased by 8 percent to AED 1.21 billion.
Business
AD Ports Group net profit up 6%
Revenue growth driven by ports, logistics, and digital clusters.
- The Group said it more than doubled year-on-year to AED11.68 billion, up 58% YoY to AED 8.71 billion on a like-for-like basis.
- General cargo volumes rose by 26 percent YoY to reach 40 million tons in 2023, compared with 31.7 million tons in 2022, 13 percent YoY on an LFL basis.
Business
ADNOC and bp to form gas JV
The JV is expected to be completed in the second half of 2024.
- Under the JV, bp will contribute its interests in three development concessions, as well as exploration agreements, in Egypt.
- ADNOC will make a proportionate cash contribution which can be used for future growth opportunities.
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Lebanon violence tests US-Iran accord as Israeli ministers harden rhetoric
Lebanon's Health Ministry said at least 21 people were killed and 39 wounded in overnight strikes across southern Lebanon.
Geostrategy
Company News
Latest News
Iran offers US new proposal to reopen Strait of Hormuz, end war: report
Iran has conveyed a fresh proposal to the United States through Pakistani intermediaries, seeking an agreement to reopen the Strait...
Geostrategy
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....
Business
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...
Geostrategy
Most Read
Business
UAE real estate gains momentum on strong 2025 base as Mar sales surge
Dubai, UAE -- The UAE’s real estate sector extended its upward trajectory in March, with robust project launches, steady construction...
- Dubai records landmark AED422 million apartment sale as luxury segment demand accelerates further.
- Abu Dhabi sees rapid sell-outs, with AED6 billion in Yas Island project sales within 72 hours.
Geostrategy
Millions join ‘No Kings’ protests across US
More than 3,000 rallies were held across all 50 states, with participation estimates ranging from several million to as many...
- The protests, organized under a decentralized movement opposing what demonstrators describe as authoritarian governance, also drew support in more than a dozen countries.
- The scale of the protests signals renewed momentum among critics of Trump and could have implications for upcoming elections, analysts say.
Business
Emaar Development to pay $1.1 billion dividend
The dividend represents 100 percent of its share capital. The company reported record property sales of approximately $19.4 billion in...
- EBITDA increased 52 percent to roughly $3.9 billion, with net profit before tax reaching $4.2 billion.
- The developer highlighted a revenue backlog of approximately $34.1 billion supporting future growth visibility.