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Ford’s US Q1 auto sales dip

But its Q1 figures exceed a forecast by Edmunds

Vanke reports annual loss of $6.8 bn

The property giant attributes loss to falling sales and shrinking profit.

Goldwind 2024 revenue up 12.5%

The clean energy giant posted $7.8bn in revenue for 2024.

Emaar to pay $2.39bn dividend

The company had posted $19bn in property sales for 2024.

Aramco acquires stake in BHIG

The 50% equity interest in BHIG is Aramco-APQ joint venture.

Sharjah’s ‘Mleiha’ and ‘Al Dhaid’ added to Islamic World Heritage

Sharjah, UAE - The Islamic World Heritage Committee of the Islamic World Educational, Scientific and Cultural Organization (ISESCO) added the...
  • The Sharjah Archaeology Authority (SAA) has completed the nomination dossier of the Mleiha archaeological site titled "Mleiha: The Pre-Islamic Period in Southeast Arabia"
  • The nomination highlights the historical and archaeological value of Mleiha and its archaeological and architectural elements that were unearthed during continuous excavations

Bayanat, Yahsat to merge           

It will benefit from revenue synergies, economies of scale.
  • The merger will create an AI-powered space technology champion in the MENA region with an implied market capitalization of over US$4 billion.
  • The combined entity will be vertically integrated and optimally positioned to capture regional, global opportunities in geospatial and mobility solutions.

BCI’s subsidiary secures US$100m loan from SIDF

RIYADH, SAUDI ARABIA - Basic Chemical Industries Co.'s (BCI) subsidiary Chemical Marketing and Distribution Co. Ltd. secured a loan from the Saudi...
  • The US$100 million loan has a duration of seven years and three months starting from October 8, 2025.
  • BCI mortgaged all fixed assets of the project as guarantees for financing, in addition to a corporate guarantee.

UAE, Kazakhstan sign MoU to combat financial crimes

ASTANA, KAZAKHSTAN – UAE and the Republic of Kazakhstan signed an agreement to enhance bilateral cooperation in the combating of...
  • The MoU aims to increase cooperation in combating money laundering, terrorism financing and proliferation financing.
  • It will focus on four key areas: virtual assets, public-private partnership, education and capacity building, and asset recovery.

NCSC seeks to regulate Jordan’s cybersecurity market

AMMAN, JORDAN - National Cyber Security Center (NCSC) seeks to regulate the Kingdom's cybersecurity market by outlining and endorsing the...
  • One of the NCSC's key measures focuses on issuing Cybersecurity Services Licensing System, its director said.
  • This would "effectively" contribute to strengthening and supporting Jordanian companies to enter the cybersecurity market.

Hyundai Motor, Mubadala ink MoU

The two firms will seek to unlock investment opportunities.
  • The agreement between the two firms will allow both parties to jointly invest and share expertize.
  • Hyundai Motor and Mubadala will seek to unlock potential investment opportunities.

Tabreed gets US$163m Green Revolving Credit Facility

ABU DHABI, UAE -  Tabreed on Thursday announced the successful closure of its inaugural US$163 million (AED600 million) Green Revolving...
  • This financing agreement, spanning five years, aligns with Tabreed's overarching sustainability strategy.
  • The facility will introduce efficient cooling solutions, meeting the regional demand for sustainable innovative technologies.

Mawani gets 79.01 points in UNCTAD’s Liner Shipping Connectivity Index for Q4 2023

RIYADH, SAUDI ARABIA – The Saudi Ports Authority (Mawani) attained its highest improvement in the UNCTAD's Liner Shipping Connectivity Index...
  • This development aligns with the objectives of the National Transport and Logistics Strategy (NTLS).
  • This achievement adds to the recent major records, including a score of 77.66 during Q3.

MBC IPO retail subscription begins

MBC Group runs a group of TV and radio channels.
  • The subscription process for the retail tranche of MBC Group will run for five days until December 18.
  • The Capital Market Authority approved, on November 21, the company's request to float 33.25 million shares in an IPO.

World Bank to expand climate funding in MENA by $10 billion

Brhane said the World Bank integrated climate into all its work across the MENA region and is on track to...
  • The funding supports both reducing net emissions and resilience projects, said Meskerem Brhane, the bank's Regional Director for Sustainable Development, MENA.
  • She added that by embracing green growth strategies, the region's GDP could potentially grow to over $13 trillion by 2050.

Fourth Industrial Revolution centers announced for Riyadh, Muscat, Pretoria

Davos, Switzerland -- The World Economic Forum (WEF) has announced signing agreements for three new Centers for the Fourth Industrial...

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flydubai adds two Saudi destinations

Flights to Al Jouf Airport and Red Sea Airport to start from April 18.

SeaWorld Yas Island, Abu Dhabi wins Guinness World Records

ABU DHABI, UAE – SeaWorld Yas Island - the region’s first Marine Life Theme Park here -, has won a...

ESA, SAP ink agreement

ESA will consolidate operations under a single ERP solution

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Middle East oil policies not dictated by US, says Russia

MOSCOW, RUSSIA – US will no longer be able to dictate oil prices in the Middle East, Director of the...
  • The US cannot dictate prices, although they would like to as the world is becoming a multipolar one, a Russian official said.
  • "This multipolarity is expressed in particular in the existence of the group of countries known as OPEC+," he added.

Tabreed approves record dividend

The cash dividend of 15.5 fils per share was okayed at Tabreed's AGA.
  • As disclosed in the company’s recent full-year results for 2023, this represents an increase of 15 percent over the previous year.
  • Tabreed’s AGA also confirmed the appointment of two new board members: Geert Bunkens and Marion Deridder Blondel.

Masdar to buy stake in Terra-Gen

Masdar to buy 50 percent stake in Terra-Gen from ECP.
  • Masdar’s US portfolio of utility-scale wind, solar and storage assets has a generating capacity of over 1.4 GW.
  • The US market will play a vital role as Masdar plans to build a renewable energy portfolio of 100 GW capacity by 2030