US slaps fresh sanctions on China-linked firms over Iran missile program
The United States on Friday announced a fresh round of sanctions targeting people and companies in China, Hong Kong, Belarus,...
Geostrategy
India to US: 8 nations issue Middle East travel advisories amid Iran tensions
Several governments have urged their citizens to leave Iran immediately, while others are pulling non-essential embassy personnel from sensitive locations,...
Geostrategy
Business
Bank credit to Saudi public and private sectors up by $105 billion: SAMA
Riyadh, Saudi Arabia -- Total bank credit granted to the public and private sectors in Saudi Arabia reached its highest...
- Total bank credit recorded a monthly growth of 1.2%, increasing by SAR 37.035 billion compared to last Jan, when it stood at SAR 3.005 trillion.
- The bank credit granted to the public and private sectors was distributed across more than 17 diverse economic activities.
Travel and tourism sector contributes 11.4 percent to Gulf’s GDP
Muscat, Oman -- Travel and tourism sector's contribution to the Gulf's GDP by the end of 2024 reached approximately 11.4 percent,...
- The growth rate of the sector's contribution to the Gulf's GDP increased by approximately 31.9 percent compared to the figures recorded in 2019.
- Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf GCC-Stat said the sector's contribution to the global GDP in 2024 amounted to 2.2 percent.
Business
Ajman real estate transactions reach $560 million in March
Ajman, UAE -- Real estate transactions in Ajman reached AED 2.06 billion ($560 million) in March 2025, marking a significant...
- Omar bin Omair Al Muhairi, Director-General of the Ajman's Department of Land and Real Estate Regulation, said the emirate recorded 1,025 real estate transactions in March.
- Al Muhairi noted that Ajman's real estate market continues to show strong momentum, consistently achieving record figures.
Economy
Trump’s tariffs shake up MENA economies, hitting allies, adversaries, oil trade and emerging industries: Report
Trump's sweeping tariffs are reshaping trade dynamics across MENA, impacting oil-exporting Gulf nations like Saudi Arabia, UAE and Qatar, according...
- Gulf oil producers face indirect hits as tariff fears lower global oil demand and prices
- Small businesses across MENA confront rising costs, disrupted supply chains, and uncertainty
Business
UAE tourism generates $12.24bn in hotel revenues in 2024: Minister
Abu Dhabi, UAE -- Hotel revenues in the UAE reached approximately AED 45 billion ( $12.24 billion) in 2024, reflecting...
- Hotel occupancy rates also climbed to 78 percent last year, ranking among the highest both regionally and globally.
- The minister said that the number of hotel guests across the UAE reached approximately 30.8 million in 2024, reflecting a 9.5 percent growth.
Business
Abu Dhabi’s non-oil foreign trade grows by 9% in 2024 to $83bn
Abu Dhabi, UAE -- Abu Dhabi Customs reported a 9 percent increase in the emirate’s non-oil foreign trade in 2024,...
- Non-oil exports soared 16 percent in 2024, reaching AED 107.8 billion compared to AED 93 billion in 2023.
- Re-exports grew by 11 percent to exceed AED 58 billion, compared to AED 52.4 billion in 2023, while imports grew by 3 percent to AED 140.2 billion.
Business
Saudi Arabia’s travel account surplus reaches nearly $13.27bn
Riyadh, Saudi Arabia -- Saudi Arabia's tourism sector achieved a record surplus in the 2024 travel account, reaching SAR49.8 billion...
- This surge was fueled by a 13.8 percent increase in inbound visitor spending compared to 2023, reaching an estimated SAR153.6 billion in 2024.
- Saudi tourism ministry attributed the significant growth in the 2024 travel account surplus to collaborative efforts within the Saudi tourism ecosystem,
Business
AD Ports Group 2024 revenue $4.70bn
The Group's EBITDA increased by 69 percent YOY.
- All of the Group’s business segments — Ports, Economic Cities and Free Zones, Maritime and Shipping, Logistics, and Digital — contributed to the record-breaking revenue.
- The Group successfully integrated two major acquisitions and accelerated its international expansion strategy, boosting profitability.
Business
ADNOC Gas to pay $3.41bn dividend
It includes $1.7 billion scheduled for distribution in Q2 2025.
- It reported a record adjusted net income of $5 billion, up 13 percent year-on-year, and strong EBITDA growth of 14 percent year-on-year to $8.65 billion.
- ADNOC Gas' full-year 2024 results demonstrate the success of its disciplined strategy, unveiled in November 2024, the company said.
Business
Al Ansari approves $85m dividend
This is approx 78% of the company's net profit after tax.
- Al Ansari Financial Services is preparing to finalize the acquisition of BFC Group Holding for AED 735 million, a move that will significantly expand its regional footprint.
- Post-acquisition, the company will emerge as the largest exchange company in Bahrain and the third largest in Kuwait.
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
US slaps fresh sanctions on China-linked firms over Iran missile program
The United States on Friday announced a fresh round of sanctions targeting people and companies in China, Hong Kong, Belarus,...
Geostrategy
Company News
Latest News
ADCB to raise $1.66bn
Business
Borouge to pay $660m H1 dividend
Business
WEF’s Dubai Summit tackles existential digital risks
DUBAI, UAE – A powerful confluence of more than 500 experts and 150 cybersecurity leaders has converged in Dubai for...
Business
Ajman records $808 million in real estate transactions in September
Ajman, UAE -- Real estate transactions in Ajman reached AED 2.97 billion in September, achieving a remarkable growth of 53...
Business
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Geostrategy
US unveils 21-point peace proposal: Israel to withdraw from Gaza, Hamas to disarm
While the plan offers several concessions to Palestinians, it also carries provisions favorable to Israel — including Hamas’ demilitarisation and...
- The proposal marks a significant shift in Washington’s approach as earlier this year, President Donald Trump had floated the idea of relocating Gaza’s population permanently
- The new framework, however, calls for Gazans to remain in the Strip and outlines a conditional pathway toward eventual statehood
Business
Dubai Integrated Economic Zones posts record $91 billion trade in 2024
Dubai, UAE – The Dubai Integrated Economic Zones Authority (DIEZ) recorded its highest-ever trade performance in 2024, with total trade...
- The Authority’s zones handled 444,300 tons of goods last year, with electronics and precious metals driving 94 percent of overall trade.
- Dubai’s overall non-oil trade also reached record levels in 2024, with DIEZ contributing its largest-ever share.
Economy
Red Sea Global opens Shura island with three world-class resorts accessible to all
Tabuk, Saudi Arabia - Red Sea Global announced the opening of the first resorts and attractions on Shura Island, which...
- Shura Island takes its natural dolphin-shaped form as the vibrant heart of the Red Sea destination
- Inspired by the surrounding coral reefs, the island's architecture and design merge seamlessly with nature