Trump threatens further strikes as Iran vows new war strategy
US Central Command said Washington was continuing its blockade against Iran and had redirected 86 commercial vessels as of Thursday.
Geostrategy
Gyr Pure Ultra White falcon sold for $300,000 at Abu Dhabi exhibition
Abu Dhabi, UAE -- The sixth round of auctions at the 2026 Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX)...
Arts & Culture
Business
Majid Al Futtaim net profit is $735m
The Group reported a 12% increase in EBITDA to $1.25 billion.
- MAF – Properties recorded a 20 percent YoY increase in revenue to AED 6.9 billion and 21 percent increase in EBITDA to AED 3.6 billion.
- The Group's net debt increased to AED 15 billion, primarily due to investments in working capital.
Business
Land transport of goods leads Saudi commercial registrations in Q4
Riyadh, Saudi Arabia -- Saudi Arabia witnessed a surge in commercial registrations across various business sectors in the last quarter...
- The resorts activity saw a significant 51 percent annual increase, reaching 3.37 million records by Q4 2023.
- Boutique hotels witnessed a surge of 74.4Â percent, with commercial records reaching 1.91 million by Q4 2023.
Business
Walaa posts $39m net profit
The insurance provider had suffered a loss of $18.15m in 2022.
- Walaa attributed the increase in net profit to insurance revenue of SAR 28.12 million in 2023 compared to a loss of SAR 119.9 million in 2022.
- In Q4 2023, the company recorded a net profit of SAR 45.3 million, against a net loss of SAR 11.41 million in the same quarter of previous year.
Business
Yalla Group 2023 revenue $318m
The company's fourth quarter revenue soared to $80.9 million.
- In the last quarter of 2023, Yalla's net margin was 36.6 percent alongside an impressive non-GAAP net margin of 41.3 percent.
- Yalla reported a 13.3 percent year-over-year increase in average monthly active users (MAUs), reaching 36.2 million in the final quarter of 2023
Business
Dubai hotel occupancy up 3.4% to reach 90.8 percent in Feb
Dubai, UAE -- Dubai hotels achieved a 3.4 percent year-on-year growth in occupancy levels, reaching 90.8 percent, according to preliminary...
- Other key metrics also showed positive growth, with the average daily rate (ADR) increasing by 9.3 percent to AED 887.06 ($241).
- The revenue per available room (RevPAR) rising by 13.1 percent to AED 805.21, according to CoStar, a provider of global real estate information.
Economy
Saudi foreign reserve assets decrease by 2% to $431bn in Feb
Riyadh, Saudi Arabia -- Saudi Arabia's international reserve assets decreased by SAR 26.98 billion, or 2 percent, to SAR 1.619...
- On a yearly basis, the Kingdom’s foreign reserve assets plunged 5 percent, or SAR 78.2 billion, Argaam reported, citing Saudi Central Bank (SAMA) data.
- Foreign currency reserves, representing about 94 percent of total assets, fell by nearly 5 percent year-on-year (YoY) in February to SAR 1.526 trillion.
Business
Madinah first Arab city to gain Gold Level in UN’s SDG Cities Initiative
Madinah, Saudi Arabia -- The United Nations Human Settlements Programme (UN-Habitat) has recognized Madinah for attaining Gold Level in the...
- Madinah became the first Saudi and Arab city, and the third internationally, to receive this recognition of achievement.
- Last month, UNESCO announced that Madinah was one of the three Saudi cities --the others being King Abdullah Economic City and Al-Ahsa -- that joined the UNESCO Global Network.
Business
AI in Saudi Arabia: Most companies have a plan, few are ready
While 93 percent of companies in the kingdom have an AI strategy, only 8 percent feel fully prepared, according to...
- The Index assesses AI readiness across 6 pillars: strategy, infrastructure, data, talent, governance, and culture, surveying respondents from companies with 500 or more employees.
- Only 12 percent of organizations have networks equipped for AI workloads, and 70 percent lack sufficient cybersecurity for AI models.
Business
SAR and Maersk to transport more containers between 2 Saudi ports
Riyadh, Saudi Arabia -- Saudi Arabia Railways (SAR) has signed a contract with the sea shipping company Maersk to increase...
- The contract will also help increase operational efficiency, decrease the number of trucks between Dammam and Riyadh cities, reduce emissions, and maintain road infrastructure.
- It will contribute to elevating Dammam Port to a regional station for global trade routes from the east to the local markets and countries in the region, said CEO SAR.
Business
Saudi Arabia’s IPI falls 8.8% in Jan on decrease in mining activity
Riyadh, Saudi Arabia -- Saudi Arabia’s Industrial Production Index (IPI) continued to decline for the 13th month in a row,...
- Compared to Dec 2023, IPI increased by 0.3 percent supported by mining and quarrying activity, manufacturing activity and water supply, sewerage, waste management and remediation.
- On the other hand, the sub-index for mining and quarrying activity increased by 0.1 percent compared to December 2023.
Trump threatens further strikes as Iran vows new war strategy
US Central Command said Washington was continuing its blockade against Iran and had redirected 86 commercial vessels as of Thursday.
Geostrategy
Company News
Latest News
DFDF backs MetaProp to boost PropTech investment
Dubai, UAE -- Dubai Future District Fund (DFDF) has committed capital to MetaProp Fund IV LP, making the New York-based...
Business
Khamenei laid to rest in Mashhad as clashes persist, Hormuz traffic recovers
Khamenei's flag-draped coffin was carried into the Imam Reza shrine in his hometown of Mashhad, where state television said he...
Geostrategy
Tabadul trading value reaches $3.68 billion in H1 2026
Abu Dhabi, UAE -- Tabadul, the regional cross-border trading and market connectivity platform, recorded a record trading value of AED13.5...
Business
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Business
Lamki: ADNOC’s South Africa acquisition accelerates international growth strategy
Chief Executive Officer ADNOC Distribution Bader Saeed Al Lamki said South Africa was attractive because of its scale and regulatory...
- ADNOC Distribution plans to sell a 28% stake in the business to a local empowerment partner and an employee stock ownership plan in line with South African ownership requirements.
- The acquisition includes Shell Downstream South Africa's network of about 580 company- and dealer-owned fuel stations, together with its wholesale fuel and aviation businesses.
Business
UAE places sixth among world’s most popular Muslim-friendly destinations
Dubai, UAE -- Mastercard and CrescentRating released the 11th edition of the Global Muslim Travel Index (GMTI), revealing how AI,...
- The report projects international Muslim arrivals to increase to 208 million this year, compared to 196 million in 2025, and reach 262 million by 2030.
- GMTI 2026 indicates that 80% of travellers surveyed worldwide now use AI tools for travel purposes, signalling a major shift in how they discover, evaluate and plan their journeys.
Business
Arada launches platform targeting $5bn in assets under management
Dubai, UAE -- UAE developer Arada has launched Arada Capital, a funds management platform targeting $5 billion in assets under...
- The company said the new platform would initially focus on real estate investments before broadening into infrastructure and other private market assets.
- Founded in 2017, Arada has launched 11 projects in the UAE and has since expanded into the United Kingdom and Australia.