Iran floats 30-day roadmap to end conflict; Trump signals scepticism
Iran has put forward a fresh 14-point proposal to the United States, calling for a resolution of tensions within 30...
Geostrategy
ADCB to raise $1.66bn
Business
Borouge to pay $660m H1 dividend
Business
Middle East tensions rise as Iran eyes Chinese anti-ship missiles amid Trump warning
Negotiations between Tehran and Beijing began at least two years ago but gained momentum after a 12-day conflict between Israel...
Geostrategy
Business
ADNOC Drilling approves $788m dividend
The final cash dividend of $394m for 2024 was approved at the AGM.
- The dividend will be paid on or around 11th April 2025, to all shareholders of record as of 27th March 2025.
- ADNOC Drilling’s full-year revenue increased significantly to a record $4.034 billion, rising by 32 percent year-on-year.
Business
Borouge proposes share buyback
The company had posted a 24% YoY increase in net profit to $1.24bn.
- Boruge said the proposed share buyback underscores the company’s confidence in its long-term growth prospects.
- Shareholders will also vote to approve the final 2024 dividends of 7.94 fils per share, which will be distributed on 28t Apr, bringing its total 2024 dividend payout to $1.3bn.
Business
DAE to acquire 17 aircraft for $1 bn
This portfolio comprises 100 percent next-generation aircraft
- Eighty percent of the aircraft are manufactured by Airbus, and 20 percent are manufactured by Boeing.
- These aircraft are expected to reduce DAE’s weighted average passenger fleet age to 6.9 years.
Business
DP World posts record $20bn revenue
The adjusted EBITDA rose by 6.7% to $5.5bn in 2024.
- DP World capacity exceeded 100 million TEU due to selective infrastructure investment in key growth markets.
- Capital expenditure of $2.2 billion ($2.1 billion in 2023) was invested across the existing portfolio.
Business
Meraas awards $544m contract
It has been awarded for construction of Design Quarter at d3
- It includes the first residential community within Dubai Design District (d3), a global creative and design ecosystem.
- Scheduled for completion by mid-2027, the Design Quarter at d3 comprises a collection of 558 apartments.
Interview
Tech and sustainability drive Singapore’s smart tourism vision
To realize its vision for “smart tourism”, Singapore Tourism Board is leveraging cutting-edge technologies like artificial intelligence, data analytics, and...
- STB’s Tcube, a hybrid innovation space launched in 2021, has helped tourism businesses introduce tech solutions, including Al, into their operations.
- More than 1,100 tourism companies have benefited from Tcube programs. Its Singapore Tourism Accelerator has supported 47 start-ups to develop 58 industry solutions across 6 cohorts
Business
Salik 2024 net profit before taxes $348m
The toll operator's revenue increased by 6% to $626 million.
- The company said that EBITDA for the full year reached AED1.6 billion, a 13.6 percent YoY growth.
- The Board of Directors proposes a dividend of AED619.8 million to be paid during H1 2025 (equivalent to 8.2645 fils per share).
Economy
Saudi Arabia’s inflation rate 2 percent in Jan, rental prices main driver
Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...
- According to GASTAT, Saudi Arabia's inflation rate is considered the lowest among the G20 countries.
- CPI measures the prices paid by consumers for a fixed basket of goods and services consisting of 490 items.
Business
AD Ports Group 2024 net profit $484m
The Group's revenue increased 48 percent year-on-year.
- Net profit attributable to owners grew 24 percent YoY to AED1.33 billion led by strong operating performance.
- Total assets grew by 15 percent YoY to AED63.70 billion in 2024 while total equity increased 15 percent YoY to AED27.83 billion.
Business
ADNOC L&S 2024 net profit $756m
The company's revenue increased by 29 percent to $3.54 billion.
- EBITDA rose by 31 percent to $1.149 billion (AED 4.219 billion) in the same period, driven by robust performance across all business segments.
- The Company's Q4 revenue increased by 6 percent year-on-year (y-o-y) to $881 million (AED 3.237 billion).
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Iran floats 30-day roadmap to end conflict; Trump signals scepticism
Iran has put forward a fresh 14-point proposal to the United States, calling for a resolution of tensions within 30...
Geostrategy
Company News
ADCB to raise $1.66bn
Business
Borouge to pay $660m H1 dividend
Business
Latest News
Tech leaders unite to propel future-critical sectors at GITEX GLOBAL 2025
Dubai, UAE: With capabilities of AI advancing every year, its potential to address challenges once thought unsolvable is rapidly expanding,...
Business
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...
Geostrategy
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...
Business
Most Read
Business
Sharjah records 361 percent growth in capital investment in H1
Sharjah, UAE -- The Sharjah FDI Office (Invest in Sharjah) has announced an exceptional increase in foreign direct investment during...
- In this time period the emirate recorded 74 FDI projects, a 57 percent surge from the 47 projects in the same period last year.
- February 2025 saw the highest volume of FDI activity in terms of both project count and capital investment.
Business
ADCB to raise $1.66bn
The rights issue aimed at boosting growth.
- The rights issue will increase ADCB's issued capital from AED 7.32 billion to AED 7.91 billion by issuing up to 592.2 million new shares.
- The new shares will be priced at AED 10.3 each, a 30% discount to ADCB’s closing share price on September 4, 2025.
Geostrategy
Israel army begins targeting Gaza City high-rises
Gaza civil defense agency spokesman Mahmud Bassal accused Israel of carrying out "a policy of forced displacement against civilians" in...
- The agency said Israeli strikes in and around Gaza City killed at least 19 people, among at least 32 Palestinians killed across the territory on Friday.
- Hamas said Israeli claims the militant group was operating in the high-rises were "nothing but flimsy pretexts and blatant lies."