Borouge 2024 net profit $1.24bn
The company said it will maintain a $1.3bn dividend for 2025.
Business
Business
Foreign firms can now get approval for dual listing on Tadawul
Riyadh, Saudi Arabia— Foreign companies will be able to obtain approval for dual listing on the Saudi market, according to...
- Mohammed Al-Rumaih told media that companies need finance to expand in particular industries, noting that the capital market aims to be the first partner to provide finance
- Tadawul Group witnessed its 39th listing of the year on Oct. 25, with 18 listing requests approved by the CMA through 2022
Business
Arab Broadcasting Festival set to begin in Riyadh, in November
Riyadh, Saudi Arabia—The stage is set for the Arab Broadcasting Festival to begin next month in Riyadh as preparations have...
- President of the Arab States Broadcasting Union (ASBU) and CEO of Saudi Broadcasting Authority, Mohammad bin Fahd Al-Harithi, announced the completion of the ongoing preparations
- Al-Harthi explained that the hosting comes from the authority’s role in the Kingdom’s Vision 2030, which aims to develop the production industry
Geostrategy
COP27: Time to move from negotiations and planning to implementation of promises and pledges
At COP26 countries agreed to deliver stronger commitments this year, including updated national plans with more ambitious targets. However, only...
- At COP27, the participant countries are expected to show how they are planning to implement the Glasgow pact call and review their climate plans
- The COP27 Presidency also expects nations to capture and assess their progress toward enhancing resilience and helping the most vulnerable communities
Science
21 Saudi Universities figure in Times Higher Education list
RIYADH, SAUDI ARABIA - The number of Saudi universities in the Times Classification of Specializations increased to 21 Saudi universities,...
- Saudi universities are distinguished in 10 major disciplines out of the 11 majors in which international universities are ranked.
- The Kingdom’s universities rankings include 47 in physical sciences, 56 in computer science and 57 in engineering.
Geostrategy
Jordan to host renewable energy investment forum
AMMAN, JORDAN - Amman is scheduled to host the Seventh International Investment Forum for Renewable Energy and Energy Efficiency in...
- The forum will discuss over three days many important and vital issues on various fields of renewable energy, energy efficiency, green hydrogen.
- The forum's themes will also cover innovative agricultural patterns, energy management, carbon trading.
Geostrategy
Jordan cabinet reshuffle aims at modernization plans
Jordan's cabinet reshuffle is a mandate for the government to work within the Kingdom's three modernization tracks, launched at the...
- The plans include political, economic and public sector modernization.
- The new tasks for the government are streamlining performance, improving public service, attracting investment and economic development.
Business
Stc posts US$2.5bn profit in Q3
It said profit was driven by multi-sector investments.
- The telecom company's revenues hit $13.33 billion during the nine-month period, up from $12.53 billion last year, which was offset by lower cost of revenue
- During the third quarter, stc’s profits jumped 21 percent to reach $933 million
Business
Abu Dhabi Airports revamp its brand identity
The makeover is geared to provide connectivity and hospitality that showcases the emirate as a prime travel destination.
- The makeover is geared to provide connectivity and hospitality that showcases the emirate as a prime travel destination
- It also aims at ensuring safe, secure and sustainable airport environments and operations
Business
Alpha Dhabi posts US$2.45bn net profit
It recorded a150% rise in profit in first nine months of 2022.
- Revenues also grew significantly standing at $7 billion, representing a year-on-year increase of 133 percent with strong contributions from the existing portfolio in the healthcare
- The Group remains well-funded with a strong cash position of $4. 62 billion
Business
Masdar to partake in Saudi renewable energy market
Masdar will also participate with partners in the upcoming Round 4 tender announced by the Saudi Power Procurement Co.
- Masdar will also participate with partners in the upcoming Round 4 tender announced by the Saudi Power Procurement Co.
- Saudi Arabia plans to generate 50 percent of its electricity from clean sources by the end of this decade, targeting 58.7 GW from renewable sources
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
Company News
ICIEC, SAPICO ink pact
Business
Latest News
stc Group begins work in Europe
Business
Sharjah records real estate transactions worth US$980m in October 2023
SHARJAH, UAE – A total of 3,798 transactions were conducted here in October 2023 across various regions of the emirate,...
Business
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Business
Saudi delegation takes part in Riyadh Expo 2030 symposium in Paris
PARIS, FRANCE - A high-level Saudi delegation attended the Riyadh Expo 2030 Symposium, on the outskirts here, hosted by the...
- The symposium serves as the final stop in the Kingdom's journey of its candidacy bid to host the World Expo in 2030.
- The final voting process for the host country will take place during a secret ballot on November 28, 2023, at the 173rd General Assembly of the BIE,
Business
BCCI yet to hear officially about Saudi interest for stakes in IPL
NEW DELHI, INDIA - Recent reports of Saudi Arabia expressing an interest in buying a stake in the Indian Premier League...
- The plan is being seen as another move by the oil-rich kingdom to be the biggest ‘soft power’ in the West Asian region.
- Saudi Arabia is now the sole bidder for the 2036 FIFA World Cup and the Saudi Pro League boasts the crème de la crème of global footballers
Business
DEWA Q3 2023 revenue $2.5bn
The revenue was driven by demand for electricity, water.
- For January-September 2023, DEWA’s consolidated revenue totalled US$6 billion with an operating profit of US$1.8 billion.
- By the end of Q3 2023, DEWA’s net cash from operating activities increased by a robust US$205 million to US$2.6 billion.