ADNOC L&S 2024 net profit $756m
The company's revenue increased by 29 percent to $3.54 billion.
Business
Economy
Jordan fixes bread prices until 2023 amid global grain price hike
According to the cabinet decision, the price of large-sized white pitta bread will remain at 320 fils, while small-sized white...
- According to the cabinet decision, the price of large-sized white pitta bread will remain at 320 fils, while small-sized white pitta bread will remain at 400 fils
- The decision also included continuing to provide $6 in cash support to non-mechanical bakeries, specifically those that use one tonne or less of flour daily
Business
e& forays into the metaverse
The move marks a significant achievement for the Group
- The move marks a significant achievement in the Group’s transformation journey to a global technology and investment conglomerate
- Metaverse technology is in the early incubation stages, given that it needs high-bandwidth and low-latency communications to work at scale
Business
French energy giant offers pay talks in bid to end fuel strike
Vehicle owners have faced increasingly long waits to fill up after two weeks of strikes by workers demanding higher wages...
- It runs a network of around 3,500 filling stations in France, nearly a third of the total, and most of them are low on fuel or even empty for some types.
- Currently three of Total's refineries are blocked, including its largest, in Normandy, as well as a fuel depot near Flandres in the north.
Geostrategy
Germany investigates ‘sabotage’ on its rail framework
Rail operator Deutsche Bahn blamed the travel disruptions on "sabotage", while Transport Minister Volker Wissing spoke of "a targeted and...
- Important communications cables were cut at two sites on Saturday, forcing rail services in the north to be halted for three hours.
- Police have said the investigation into Saturday's incident is still wide open and they have not publicly mentioned any suspects.
Economy
Remittances from expatriates in Saudi fell 13 percent in Aug
Riyadh, Saudi Arabia - Remittances from expatriates in Saudi Arabia saw a 13 percent year-on-year (YoY) decline to SAR 11.92...
- On a month-on-month (MoM) basis, remittances from expats in Saudi Arabia rose 3 percent, or SAR 323 million ($85.47m).
- Remittances by Saudi nationals to other countries grew 10 percent YoY to SAR 6.33 billion ($1.68bn) in August.
Business
Dubai Airport Free Zone non-oil trade up 36 percent in 2021
Dubai, UAE--- Non-oil trade of Dubai Airport Free Zone (DAFZ), part of the Dubai Integrated Economic Zones Authority (DIEZ), rose...
- DAFZ contributed 10.7 percent to Dubai’s non-oil trade in 2021, exceeding expectations across all sectors.
- Machinery, equipment, and appliances were the main contributor to DAFZ’s trade in 2021, making up 74.6 percent of exports.
Geostrategy
Qatar to hike Jordanian food imports during World Cup
Qatar plans to hike its imports of Jordanian food products during FIFA World Cup Qatar 2022 as demand is expected...
- Qatar relies heavily on Jordanian market for vegetables and fruits.
- Volume of Jordan-Qatar trade during the past 10 years amounted to over US$3.17 billion.
Videos
Asia green business market to hit $5 trillion by 2030
More than 15 countries and 670 companies in Asia have set (or are committed to setting) emission-reduction targets, thereby creating...
- Around $3.1 trn will need to be spent per year on average on physical assets for energy and land-use systems from 2020 to 2050.
- Vehicle electrification could contribute 10 to 15 percent of the abatement potential needed by 2050, lowering emissions by roughly six GtCO2e.
Science
Protecting biodiversity is important, says Egyptian minister
Egypt’s Minister of Environment Yasmine Fouad said that protecting migratory birds and biodiversity is one of the global and regional...
- The conference aims to document mutual understanding between the energy sector and nature conservation organizations.
- Another aim is to strengthen relationship, understanding, and partnership between nature conservation, especially birds and energy infrastructure.
Business
Egypt records rush in arrival of tourists from Europe and US
Cairo, Egypt— Egypt has recorded a huge jump in arrival of tourists from many European countries and the US, as...
- Tourists from Spain and France are leading an increase in visitors to Egypt from a number of European countries
- Tourism toward Luxor and Aswan is predicted to be healthy from the second half of this month, with Japan, South Korea and India starting to operate flights to Luxor
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
ADNOC L&S 2024 net profit $756m
The company's revenue increased by 29 percent to $3.54 billion.
Business
Company News
Vodafone, Microsoft ink pact
Business
Latest News
ADNOC L&S gets new VLCC
Business
KEZAD Group signs lease agreement with Advanced Petro Services
ABU DHABI, UAE - Khalifa Economic Zones Abu Dhabi (KEZAD) Group, the integrated trade, logistics, and industrial hub of Abu...
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....
Business
Most Read
Business
Dubai’s top 10 land deals in 2023 is worth US$2.3bn
DUBAI, UAE – A real estate brokerage based here has compiled the 10 largest land deals in the Emirate since...
- The recovery in land sales reflects developers’ efforts to acquire the best plots for launching real estate and commercial projects.
- Several sale deals in Dubai focus on investors’ desire to buy land for investment purposes and get high returns as prices continue to rise.
Business
EasyLease Q3 revenue $57.66m
It's net profit was AED 26.5 million ($7.21m) in Q3 2023.
- it's net profit was AED 26.5 million ($7.21m) in Q3 2023, compared to AED 32.73 million ($8.91m) YoY over Q3 2022.
- Cost-effectiveness, exceptional maneuverability and expedited travel, are driving the popularity of two-wheelers in the UAE.
Business
Mawani, SGP ink US$266m pact
The aim is to establish multiple logistics zones in the Kingdom.
- The objective is to establish logistics zones that will enhance efficiency of the sector, improve service quality and generate additional job opportunities.
- This initiative is expected to strengthen the role of the logistics sector in supporting the national economy.