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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.

Saudi Arabia’s inflation rate 2 percent in Jan, rental prices main driver

Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...

Human Rights Monitor submits documents on Gaza executions to UN

GENEVA, SWITZERLAND - The Euro-Mediterranean Human Rights Monitor documented, in a preliminary file submitted to UN special rapporteurs and the...
  • The monitor called for immediate investigation to hold the perpetrators accountable and provide justice to the victims.
  • It demanded the announcement of the formation of an international legal team to reach Gaza and investigate the incidents.

Makkah, Morocco’s Beni Mellal-Khenifra Chambers of Commerce ink pact

MAKKAH, SAUDI ARABIA - The Makkah Chamber of Commerce and Industry and the Chamber of Commerce, Industry, and Services of...
  • Beni Mellal Chamber of Commerce, Industry and Services delegation head said that Saudi Arabia is Morocco's largest trading partner.
  • In 2022, the volume of Saudi Arabian exports reached US$4.6 billion, while the value of imports was US$87 million.

UN General Assembly approves US$3.59bn budget for 2024

NEW YORK, US - The United Nations General Assembly (UNGA) approved a US$3.59 billion budget for 2024, including establishing a...
  • The UNGA approved around US$50 million as an additional funding for UN Human Rights Council.
  • UNGA revealed that it established a multiannual private account for peacemaking and it is used for funding UNPBF.

ADDED, Siemens Energy to support sustainable industrial development in Emirate

ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...
  • The collaboration supports Abu Dhabi Industrial Strategy's vision to establish the Emirate as the most competitive industrial hub in the region.
  • Siemens Energy will support IDB to localize the manufacturing capabilities in Abu Dhabi and provide technological solutions.

FTA issues guide to determine natural persons subject to corporate tax

ABU DHABI, UAE - The Federal Tax Authority (FTA) has issued a new guide outlining the criteria to determine natural...
  • The guide provides a comprehensive and simplified explanation and instructions for natural persons earning in the UAE.
  • The FTA emphasized the importance of understanding the comprehensive content and definitions outlined in the guide.

136 UN employees killed in Gaza War, says UN chief   

NEW YORK, US - UN Secretary-General Antonio Guterres said on Sunday that 136 United Nations employees in Gaza Strip had...
  • The UN chief said that the Israeli military offensive was creating 'massive obstacles' to the distribution of humanitarian aid inside Gaza.
  • The United Nations Security Council had adopted a resolution calling for boosting humanitarian assistance for Gaza Strip.

Oman to expand production of green hydrogen to boost non-oil economy

Hong Kong - The government of Oman’s targets to expand local green hydrogen production could support key credit metrics, such as...
  • The government aims to raise renewable energy-based hydrogen production to at least one million metric tonnes (mt)/year by 2030.
  • Local state-owned enterprise Hydrogen Oman (Hydrom) signed six investment agreements, worth over US$38 billion, with partners in 2023.

UAE best performing economy in Arab region, says Arab Monetary Fund

Abu Dhabi, UAE - The United Arab Emirates was named the most economically competitive nation in the Arab world, a...
  • The report noted the UAE secured the top position in the government financial sector index, ranking first in the deficit/surplus to GDP ratio and second in the tax burden index
  • The UAE also topped the infrastructure sector index, leading in mobile phone subscriptions and the percentage of the population with access to electricity

TAQA, GS Inima and EWEC seal deal

Abu Dhabi's Shuweihat 4 desalination project secures $444 million.
  • The S4 RO project is primarily funded 71 percent through debt financing from both local and international banks.
  • The financial closing comes after TAQA and GS Inima signed the water purchase agreement with EWEC in August 2023.

UN adopts Qatar-sponsored resolution on human rights training center

New York, USA - The UN General Assembly (UNGA) adopted a resolution by 185 votes on 'The UN Human Rights...
  • Qatar sponsored and facilitated negotiations every two years since its establishment in 2008, with its headquarters in Doha
  • In its resolution, the General Assembly reaffirms the role of regional cooperation in promoting and protecting human rights

Saudi Arabia’s inflation rate 2 percent in Jan, rental prices main driver

Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...

Latest News

Germany shares observations on Qatar hosting Autonomous e-Mobility Forum

In its efforts toward sustainable transportation, the German embassy is the first diplomatic representation in Doha to utilize an electric...

Saudi’s Modon attracts $3.8bn industrial investments in 2023

Saudi Authority for Industrial Cities and Technology Zones (Modon) has announced significant progress in attracting industrial and logistical investments for...

DWTC welcomes 2.47m visitors in 2023, says EVP

DUBAI, UAE – Executive Vice President, Dubai World Trade Center (DWTC)  Mahir Julfar said that the DWTC's performance in 2023...

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RAKBANK, DP World sign pact

The aim is to offer trade finance solutions to businesses in UAE.
  • This strategic partnership leverages DP World's extensive trade network and real-time data insights.
  • It empowers RAKBANK with enhanced risk assessment capabilities and streamlined access to financing.

Russia becomes world’s fourth-biggest LNG producer, says PM

MOSCOW, RUSSIA – Prime Minister Mikhail Mishustin said the country became the world’s fourth-biggest LNG producer last year.The Russian Prime...
  • Mikhail Mishustin said that the volume of LNG exports rose almost three-fold in six years.
  • In January - February 2024, natural gas production in Russia increased by 11.3 percent year-on-year.

New shipping service in Saudi Arabia launched

RIYADH, SAUDI ARABIA - The Saudi Ports Authority (Mawani) has announced the addition of the new shipping service 'NRS' by...
  • The NRS shipping service will link Jeddah Islamic Port to Yanbu Commercial Port, Neom Port, Aqaba Port in Jordan, and Sokhna Port in Egypt.
  • This will further establish the Kingdom's position as a global logistics hub that bridges three continents,