Borouge 2024 net profit $1.24bn
The company said it will maintain a $1.3bn dividend for 2025.
Business
Business
MEmob+, GeoDB partner to launch a Digital Wallet, Blockchain Protocol
The investment reinforces both companies’ shared vision of democratizing data, changing how data is shared and monetized by the users...
- The investment reinforces both companies’ shared vision of democratizing data, changing how data is shared and monetized by the users and brands
- The decentralized wallet will empower people to earn rewards for the data they share and gain control of the data they generate
Economy
China’s Central Bank, European Central Bank renew currency swap deal
The PBOC said the renewal would help deepen bilateral financial cooperation, facilitate trade and investment, and maintain the stability of...
- The PBOC said the renewal would help deepen bilateral financial cooperation, facilitate trade and investment, and maintain the stability of the financial market
- A currency swap sees two parties agree to exchange a certain amount of foreign currency at a pre-determined rate, protecting against fluctuations
Geostrategy
UAE, Serbian presidents discuss bilateral relations
They also discussed opportunities to extend their cooperation within the framework of their comprehensive strategic partnership.
- They also discussed opportunities to extend their cooperation within the framework of their comprehensive strategic partnership
- They also reviewed various aspects of economic, commercial and political cooperation
Business
Dubai records over US$435m in realty transactions Monday
Dubai real estate market recorded 445 sales transactions worth US$321 million, in addition to 68 mortgage deals of $121 million...
- Dubai real estate market recorded 445 sales transactions worth $321 million.
- The market witnessed 68 mortgage deals of $121 million and 37 gifts deals amounting to $16 million.
Economy
Saudi Arabia’s Industrial Production Index in August up by 6.8 percent
Riyadh, Saudi Arabia-- Saudi Arabia's Industrial Production Index in August 2022 increased by 6.8 percent compared to August 2021. The...
- In August 2022, mining and quarrying grew by 15.5 percent compared to August 2021.
- The manufacturing activity increased by 22 percent compared to the same month of the previous year. The electricity and gas supplies increased by 11.3 percent.
Geostrategy
Saudi Arabian delegation visits Oman, to enhance bilateral ties
A Saudi Arabian delegation led by Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha is on a...
- A Saudi Arabian delegation led by Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha is on a visit to Oman.
- The Saudi delegation met with Oman's Minister of Transport, Communications and Information Technology Saeed Al-Mawali and Minister of Economy Saeed As-Saqri.
Business
Burjeel begins trading on ADX
Shares closed the debut session up 15 percent ($0.62).
- The company raised AED1.1 billion ($299.49 million) after offering a 11 percent stake in an IPO.
- It was oversubscribed 29 times to over AED32 billion after seeing a significant demand from UAE and outside investors.
Business
E-marketing reduce prices of poultry products by up to 20% in Saudi
Riyadh, Saudi Arabia--Saudi Poultry Producers Committee has said that use of some applications in marketing has helped consumers obtain products...
- Saudi Poultry Producers Committee recommends farmers to benefit from modern marketing technologies.
- Saudi Ministry of Environment, Water and Agriculture recently set up a company to market Saudi agricultural products in cooperation with the Federation of Saudi Chambers.
Business
Al Sagr to cut capital
It has sought shareholders' nod for 65% capital reduction.
- According to a bourse filing, the Saudi insurer aims to reduce its capital from $106 million to $37.33 million.
- The company is restructuring its capital in order to write off accumulated losses of $69.33 million
Business
Almarai posts profit in Q3
The Saudi firm's net profit rose 10% to $372m.
- However, the company's stock took a dip, falling 4.15 percent to end the session at SR53.10
- The company said positive revenue growth was also witnessed across all categories after the removal of COVID-19 movement restrictions and the re-opening of educational institutions
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Business
Total of 52 MoUs signed in Saudi-Korean Investment Forum
RIYADH, SAUDI ARABIA – A total of 52 memorandums of understanding (MoUs) were signed at the Saudi-Korean Investment Forum here....
- The private sector inked 48 MoUs in sectors ranging from transportation, tourism, energy, technology, infrastructure and cybersecurity.
- The pacts aim to enhance investments between Saudi Arabia and South Korea which reflect the efforts towards collaboration between the two nations.
Business
Nedaa, Dubai Customs ink MoU
MoU to enhance digital solutions for efficiency.
- The MoU will help to integrate efforts and exchange experiences to improve the level of services provided to various groups and segments of society.
- The two parties will focus on developing an operational mechanism aimed at ensuring a reliable and effective communication network for Dubai Customs,
Business
Nearly 5,000 member companies join Sharjah Chamber in 2023
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has logged an impressive surge in new memberships this...
- The Chamber’s main branch and its other branches in Al Dhaid, Khor Fakkan, Dibba Al-Hisn, and Kalba now boast 45,373 active members.
- The total export and re-export values of the members of the Sharjah Chamber reached US$4.6 billion through the third quarter of the current year.