Search Site

Trends banner

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Israelis raid Al-Aqsa, homes of Palestinians in Ramallah

RAMALLAH, PALESTINIAN TERRITORIES / JERUSALEM – Israeli forces carried out Sunday a series of raids in several towns in the...
  • The raids targeted the villages of Mazra'a al-Gharbiya, 'Arura, Birzeit, and Jalazone camp, north and west of the city of Ramallah.
  • In Hebron, Israeli forces raided Al-Arroub camp and the towns of Beit Ummar and Bani Na'im, stormed homes, and seized vehicles.

DEWA records 12.5 million digital transactions in 2023

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) announced that its customers conducted around 12.5 million digital transactions in...
  • DEWA offers digital services for electricity and water management, as well as innovative sustainability services.
  • These include smart living initiative, features like consumption monitoring, comparison with high-efficiency homes.

ADQ, ADNEC Group sign agreements

They will buy 40.5% stake in TMG Holding’s hospitality business.
  • ADQ and ADNEC will invest through a special purpose vehicle, with 49 percent equity ownership by ADQ and 51 percent equity ownership by ADNEC.
  • ICON is a leading player in Egypt’s luxury and upscale hospitality market, with a track record of building and owning some of the most celebrated luxury hotels in Egypt.

CBUAE cancels license of First Insurance Brokers Company

ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) has cancelled the license of First Insurance Brokers Company...
  • The sanction comes as a result of the CBUAE’s decision following the company’s non-compliance with the regulations.
  • The CBUAE works to ensure that all insurance companies and related professionals comply with laws and regulations.

NEOM announces Aquellum as futuristic lifestyle community

NEOM, SAUDI ARABIA - The Board of Directors of NEOM has announced Aquellum, a luxury and experiential space embedded within...
  • Aquellum is hidden within a breathtaking 450-meter-high mountain range.
  • The subterranean digitalized community creates vibrancy and interconnectivity.

Saudi Arabia signs MoUs with four countries for development in mining industry

RIYADH, SAUDI ARABIA – The Ministry of Industry and Mineral Resources has signed four Memorandums of Understanding (MoUs) with the...
  • The roundtable highlighted the need for governments and industry to achieve economic and social development for local communities.
  • A total of 79 governments, 13 international organizations, 15 NGOs and seven business associations took part in the roundtable.

FAB issues first Sukuk globally in 2024

ABU DHABI, UAE - First Abu Dhabi Bank (FAB) has issued a five-year US$800 million Sukuk at US Treasury +85bps,...
  • The allocation sees 76 percent directed towards dedicated Islamic investors and 38 percent towards international counterparts.
  • The 1.9x oversubscribed order book represented high-quality investors, including international fund managers, supranational and banks.

UAE economy likely to grow by 3.8 percent in 2025, says World Bank

WASHINGTON, US - The World Bank expected the UAE's real GDP to grow by 3.4 percent in 2023, rising to...
  • The World Bank forecast the growth in the Gulf Cooperation Council countries to rise to 3.6 percent in 2024 and 3.8 percent in 2025.
  • The report said that the growth rate in the Middle East and North Africa region slowed down sharply to 1.9 percent in 2023.

Air cargo demand up 8.3 percent in November 2023, says IATA

GENEVA, SWITZERLAND - The International Air Transport Association (IATA) released data for November 2023 global air cargo markets indicating the...
  • This reflects a fourth consecutive month of strengthening demand for air cargo.
  • Most of the capacity growth continues to be attributable to the rise in belly capacity.

Israel is starving Gaza residents, says NGO

RAMALLAH, PALESTINIAN TERRITORIES - Everyone in Gaza is going hungry and about 2.2 million people are surviving day by day...
  • The NGO said that Gaza Strip was already in the throes of a humanitarian crisis before the war, mainly due to Israel’s 17-year blockade.
  • Given this starting point, it is clear as to why the Gaza Strip plummeted into a full-blown catastrophe so quickly.

Meraas awards $544m contract

It has been awarded for construction of Design Quarter at d3

Latest News

Trump Tower agreement announced in Jeddah following luxury hotel deal in Oman

A Trump Tower is coming to Saudi Arabia, a regional developer announced on Monday, Al Monitor reported.Dar Global and the...

Killer heat wave sweeps the globe, hundreds perish

A punishing heat dome continues to intensify over the northeastern United States, scores of record-high temperatures were matched or broken...

Chinese electric car company Nio to enter UAE this year

Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an...

Most Read

Exhibition of art and poetry in Dubai celebrates women

Featuring the work of international women artists, "La Belleza" celebrates the deep connection between art and poetry.
  • “La Belleza,” which translates to "The Beauty," reflects the central theme of the exhibition
  • At the core of "La Belleza" is a commitment to supporting and promoting women artists

The Middle East fastest growing Real-Time Payments market globally

For the second consecutive year, the Middle East is the fastest-growing real-time payments market globally, according to the 2024 Prime...
  • The region saw a remarkable YoY growth of 33.6% in 2023 with 855 million real-time payment transactions
  • Transaction value in the Middle East is projected to rise from US$230 billion in 2023 to US$903 billion by 2028

Saudi Arabia inaugurates its second “House of Culture”

As part of the “Quality of Life” program, these houses aim to upgrade cultural infrastructure and boost Saudi engagement in...
  • Each “House of Culture” in the Kingdom has a strategic plan for sustainability and activation
  • These cultural houses feature various sections, including learning areas, a kids’ theater, a main stage, and reading spaces