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ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Yalla Group Q1 revenue $83m

Net income rose to $36.4 million, a 17% YoY increase.

Qatar Airways annual profit $2bn

This was a record 28% jump in annual net profit.

Masdar issues $1bn bond

Its green bond program hits $2.75 billion.

Abu Dhabi’s non-oil foreign trade grows by 9% in 2024 to $83bn

Abu Dhabi, UAE --  Abu Dhabi Customs reported a 9 percent increase in the emirate’s non-oil foreign trade in 2024,...
  • Non-oil exports soared 16 percent in 2024, reaching AED 107.8 billion compared to AED 93 billion in 2023.
  • Re-exports grew by 11 percent to exceed AED 58 billion, compared to AED 52.4 billion in 2023, while imports grew by 3 percent to AED 140.2 billion.

Saudi Arabia’s travel account surplus reaches nearly $13.27bn

Riyadh, Saudi Arabia -- Saudi Arabia's tourism sector achieved a record surplus in the 2024 travel account, reaching SAR49.8 billion...
  • This surge was fueled by a 13.8 percent increase in inbound visitor spending compared to 2023, reaching an estimated SAR153.6 billion in 2024.
  • Saudi tourism ministry attributed the significant growth in the 2024 travel account surplus to collaborative efforts within the Saudi tourism ecosystem,

AD Ports Group 2024 revenue $4.70bn

The Group's EBITDA increased by 69 percent YOY.
  • All of the Group’s business segments — Ports, Economic Cities and Free Zones, Maritime and Shipping, Logistics, and Digital — contributed to the record-breaking revenue.
  • The Group successfully integrated two major acquisitions and accelerated its international expansion strategy, boosting profitability.

ADNOC Gas to pay $3.41bn dividend

It includes $1.7 billion scheduled for distribution in Q2 2025.
  • It reported a record adjusted net income of $5 billion, up 13 percent year-on-year, and strong EBITDA growth of 14 percent year-on-year to $8.65 billion.
  • ADNOC Gas' full-year 2024 results demonstrate the success of its disciplined strategy, unveiled in November 2024, the company said.

Al Ansari approves $85m dividend

This is approx 78% of the company's net profit after tax.
  • Al Ansari Financial Services is preparing to finalize the acquisition of BFC Group Holding for AED 735 million, a move that will significantly expand its regional footprint.
  • Post-acquisition, the company will emerge as the largest exchange company in Bahrain and the third largest in Kuwait.

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.

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.

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.

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.

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.

With AI and more shade, Saudi Arabia set for a searing hajj

Riyadh, Saudi Arabia -- With artificial intelligence, more shade and misting machines, Saudi authorities are preparing to welcome more than...

Latest News

Biden, Kadhemi meeting to focus on US troop withdrawal from Iraq

The White House talks between the two allies come just a week after a deadly attack claimed by the Islamic...

Qatar takes key step to control own airspace

Qatar said on Tuesday that it has been given a preliminary green light by a UN body on a proposal...

Dubai authorities probe Jebel Ali Port blast

Dubai authorities were Thursday investigating an explosion on a container ship carrying flammable materials which unleashed a fireball at one...

UAE consumers prefer online motor insurance

74% of the customers buy car insurance online in the UAE More than 90% of the consumers review car insurance...

Saudi suspends UAE flights due to virus variant

Saudi Arabia has suspended flights to three countries, including the neighbouring United Arab Emirates, to protect against a coronavirus variant,...

Bank credit to Saudi public and private sectors up by $105 billion: SAMA

Riyadh, Saudi Arabia -- Total bank credit granted to the public and private sectors in Saudi Arabia reached its highest...

Travel and tourism sector contributes 11.4 percent to Gulf’s GDP

Muscat, Oman -- Travel and tourism sector's contribution to the Gulf's GDP by the end of 2024 reached approximately 11.4 percent,...

Ajman real estate transactions reach $560 million in March

Ajman, UAE --  Real estate transactions in Ajman reached AED 2.06 billion ($560 million) in March 2025, marking a significant...

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UAE tourism generates $12.24bn in hotel revenues in 2024: Minister

Abu Dhabi, UAE --  Hotel revenues in the UAE reached approximately AED 45 billion ( $12.24 billion) in 2024, reflecting...
  • Hotel occupancy rates also climbed to 78 percent last year, ranking among the highest both regionally and globally.
  • The minister said that the number of hotel guests across the UAE reached approximately 30.8 million in 2024, reflecting a 9.5 percent growth.

Abu Dhabi’s non-oil foreign trade grows by 9% in 2024 to $83bn

Abu Dhabi, UAE --  Abu Dhabi Customs reported a 9 percent increase in the emirate’s non-oil foreign trade in 2024,...
  • Non-oil exports soared 16 percent in 2024, reaching AED 107.8 billion compared to AED 93 billion in 2023.
  • Re-exports grew by 11 percent to exceed AED 58 billion, compared to AED 52.4 billion in 2023, while imports grew by 3 percent to AED 140.2 billion.

Saudi Arabia’s travel account surplus reaches nearly $13.27bn

Riyadh, Saudi Arabia -- Saudi Arabia's tourism sector achieved a record surplus in the 2024 travel account, reaching SAR49.8 billion...
  • This surge was fueled by a 13.8 percent increase in inbound visitor spending compared to 2023, reaching an estimated SAR153.6 billion in 2024.
  • Saudi tourism ministry attributed the significant growth in the 2024 travel account surplus to collaborative efforts within the Saudi tourism ecosystem,