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
Geostrategy
Halting funding to UNRWA perils Middle East stability: Arab League
Cairo, Egypt -- The potential termination of the UN Relief and Works Agency for Palestine Refugees in the Near East...
- According to the Arab League secretary general, "the desire of some countries to exclude the role of UNRWA by suspending its funding is a moral, humanitarian and security mistake."
- He said this "dangerous trend" is consistent with the position of right-wing parties in Israel, which have always sought and are still seeking to limit UNRWA's activities.
Geostrategy
4,895 students killed, 400 schools damaged in Palestinian territories
The Palestinian Ministry of Education said more than 4,851 students were killed by Israeli forces in Gaza, while 8,227 others...
- The Ministry said that 239 teachers and administrators were killed and 836 were injured in the Gaza Strip and six were injured and more than 71 detained in the West Bank.
- Nearly 90% of government school and education buildings were directly or indirectly damaged, while 29% were damaged to an extent that they are not operational anymore.
Business
Maqta acquires stake in Dubai Technologies
The majority stake was acquired for $7.6 million.
- The founder will retain a 40 percent stake in the company, and the existing leadership team will remain in management to deliver on the strategic growth plans.
- The company's FY2023 financial performance recorded revenues of AED70.5 million and EBITDA of AED8.4 million.
Business
Saudi, UAE ‘prior’ countries for Russia’s inbound tourism push
Moscow, Russia -- China, India, Iran, the United Arab Emirates (UAE) and Saudi Arabia will become prior countries for Russia...
- In 2024, attention will be given to five prior countries: China, India, Iran, the UAE, Saudi Arabia, said Director General of the Center for Strategic Research Pavel Smelov.
- "It is expected that by 2030 the implementation of the concept presented will result in the annual flow of 16 million foreign tourists," he said.
48 Middle East and North Africa IPOs raise $10.7bn in 2023: Report
Five listings, mainly in the energy and logistics sectors, contributed 58 percent towards the total IPO proceeds raised, said the...
- During Q4 2023, 19 IPOs raised US$4.9bn in proceeds. ADES Holding Company raise the most funds and contributed 25% to the overall IPO in Q4.
- Saudi Arabia dominated IPO activity in the region with 14 of the 19 listings in Q4 2023. ADES was the biggest with US$1.2bn in proceeds.
Arts & Culture
25,000 fragments of early Islamic era artifacts discovered in Saudi
Jeddah, Saudi Arabia -- As many as 25,000 fragments of artifacts dating from the early Islamic era, the first two...
- The discovery was announced by the Jeddah Historic District Program, in collaboration with the Heritage Commission.
- The project aims to preserve national antiquities and archaeological sites, uncover the rich history of the Kingdom, and promote historic Jeddah as a cultural destination.
Business
Mubadala invests in Manipal Health
Manipal Health offers multispecialty care through 30 hospitals.
- Temasek, a Singapore-headquartered global investment company, will continue to hold a majority stake in Manipal.
- Employing more than 5,000 doctors, the company is India’s second-largest hospital chain by number of beds.
Business
Solutions-Devoteam deal completed
Devoteam Middle East is a subsidiary of Devoteam Group.
- The total value of Devoteam Middle East is approximately SAR741.7 million.
- Solutions by stc had signed a binding offer and first unveiled details of the transaction in June 2023.
Business
Use of DEWA’s electric-vehicle green chargers up 59% in 2023
Dubai, UAE -- Dubai Electricity and Water Authority (DEWA)’s EV Green Charger initiative witnessed a 59 percent increase in the...
- Dubai has seen a notable increase in the use of EVs since 2015. The number of EVs in the Emirate reached 25,929 vehicles by December 2023.
- The number of EV owners registered under the initiative has increased from a mere 14 in 2015 to more than 13,959 by the end of December 2023.
Business
SAIB profit jumps 17% in 2023
The net profit for the fourth quarter increased by 28 percent.
- Total operating income grew by 21 percent year-on-year (YoY) as net special commission income rose due to an increase in net financing and investment commission.
- Shareholders’ equity, no minority interest and after excluding sukuk, increased to SAR 14.52 billion as of Dec. 31, 2023.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
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
EGA H1 revenue $4.11bn
Business
TAQA secures $2.31bn loan
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...
Business
Empower okays $119.1m H2 2025 dividend
The dividend is equivalent to 43.75% of paid-up capital.
Business
Dubai Chambers partners with DP World and Customs to boost logistics resilience
Dubai, UAE — Dubai Chambers, in collaboration with Dubai Customs and DP World, convened a meeting with around 100 private...
Business
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Business
Alujain widens 2025 loss
The increase in loss is due to impairment charges, weaker prices.
- Excluding the impairment, the company would have reported a net profit of SAR 17 million for the year.
- Earnings per share fell to SAR 12.05 per share in 2025, compared with a loss of SAR 0.73 per share in 2024.
Business
Masar 2025 net profit $262m
Higher land plot sales boost revenue and operating income.
- Revenues increased 59.2% to 2.9 billion riyals in 2025 from 1.82 billion riyals in 2024.
- Despite the strong annual performance, the company reported a decline in fourth-quarter earnings.
Geostrategy
GCC energy sector strengthens global role despite lower oil output
Gulf Cooperation Council (GCC) countries continue to strengthen their position in global energy markets, supported by extensive natural resources, advanced...
- Gulf energy data show rising reserves, stable gas production and gradual renewable expansion.
- Regional electricity interconnection delivers savings and boosts power exchange among GCC member states.