Dubai Taxi Company net profit up 54%
The company will pay a dividend of $19.33 million for Q4.
Business
Real estate transactions worth over US$74m take place in Qatar in week
DOHA, QATAR - The volume of real estate trading in the country in sales contracts at the Department of Real...
Business
Business
Yahsat H1 revenue $206m
This is the company's highest ever first-half revenue.
- The high revenue is due to a double-digit growth in Managed Solutions and Mobility Solutions.
- The Adjusted EBITDA increased by 5.3 percent year-on-year to AED448 million ($122 million), delivering a robust margin of 59.3 percent.
Business
ADNOC Drilling H1 profit $379mn
The firm's revenue increased 13 percent to US$1.27 billion
- ADNOC Drilling revenue increased 13 percent to US$1.27 billion compared to the same period last year
- First half EBITDA was $580 million, up 16 percent year-on-year, with a market-leading margin of 45.7 percent
Geostrategy
Jordan, Yemen foreign ministers discuss ties, regional issues
Safadi said Jordan welcomes the announcement of extending the cease-fire in Yemen for two months.
- Safadi said Jordan welcomes the announcement of extending the cease-fire in Yemen for two months
- The ministers stressed efforts to reach a political solution to end the Yemeni crisis and restore stability in the embattled country
Economy
Exports drive growth in Saudi and UAE
Saudi and the UAE's reliance on oil to drive economic growth has tapered off in recent years as the non-oil...
- In May Saudi Arabia's non-oil sector of the economy continued strong growth, notching its 21st consecutive month of expansion
- In the United Arab Emirates, non-oil sector grew in May to a five-month high as demand remained strong despite inflationary pressures
Business
SABIC profit surges to $2.1bn
The Saudi firm's net profit was fueled by higher sales volume.
- Analysts had predicted a 23-percent decrease in profit along with a 25.7 percent surge in sales
- SABIC Agri-Nutrients, which posted a 262 percent rise in quarterly profit, also beefed up the company’s performance
Business
IHC H1 profit surges to $3bn
The company slew of acquisitions helped its earnings.
- The performance across all IHC subsidiaries has resulted in a strengthening of the conglomerate’s balance sheet
- The company's strategic acquisition of companies in H1 2022 had a positive impact on the organisation's net worth
Business
Apple to open outlet in Riyadh
The firm will sell its full range of products and spare parts.
- The Saudi investment minister Khalid Al-Falih told media that said several international companies, including Google, Alibaba, Microsoft and IBM, intend to invest in the kingdom
- The minister said that investments will be coupled with the development of human resources through partnership of these companies with academies, universities and training centers
Business
Mubadala to buy Canada Cartage
Canada Cartage provides national fleet solutions.
- Canada Cartage has a wide network of 33 facilities across Canada and has two business segments, Dedicated Transportation and Logistics
- Mubadala's Head of Private Equity Adib Martin Mattar said Canada Cartage operates in a sector in which "we have significant expertise, which is business services"
Economy
Sharjah steps up emergency response to extreme weather conditions
More than 3,400 rescue and evacuation operations were conducted in the eastern regions of the emirate by the Sharjah Police...
- More than 3,400 rescue and evacuation operations were conducted in the eastern regions of the emirate by the Sharjah Police General Headquarters
- In flood-hit Kalba, 2,069 residents were moved into schools, while nurses were transferred from Fujairah to support medical efforts at Kalba Hospital
Sharjah supports low-income families with $3 million
The Sharjah Charity International has provided $3 million assistance in the first half of this year.
- The Sharjah Charity International has provided $3 million assistance in the first half of this year
- The society relies on the charitable contributions of benefactors to support deserving families
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
Dubai Taxi Company net profit up 54%
The company will pay a dividend of $19.33 million for Q4.
Business
Company News
VOX Cinemas unveils debut slate of original Arabic films
Arts & Culture
Latest News
ADDED ink deal with Wio Bank to aid SMEs growth
ABU DHABI, UAE - The Abu Dhabi Department of Economic Development (ADDED) and Wio Bank announced on Tuesday that would...
Business
Up to $1.7 trillion investment needed for green aviation goals
To meet the estimated energy demand from hydrogen and electric aircraft in 2050 would require the amount of energy produced...
Economy
UAE energy ministry awards DEWA for research, innovation
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has been awarded first place in UAE Ministry of Energy and...
Business
Most Read
Geostrategy
Best chance for peace in Yemen in eight years, says UN envoy
Yemen faces its best chance to strike a peace deal since the country's civil war started over eight years ago,...
- The Arabian Peninsula country is one of the poorest in the Middle East, and has been devastated by the war, which started in 2014.
- The government and the rebels have exchanged nearly 900 prisoners in recent days, as hopes grow for peace.
Business
Dubai records $450 million in real estate transactions: DLD
Dubai, UAE - Dubai's real estate market recorded real estate deals worth AED1.8 billion on Monday, Dubai Land Department said....
- The sales included 447 villas and apartments worth AED910.14 million ($247.84m), and 49 land plots worth AED756.08 million ($205.87m).
- The mortgages included 88 villas and apartments worth AED145.7 million ($39.68m) and 19 land plots valued at AED23.35 million ($6.36m).
Geostrategy
Cementing ties: Iran invites Saudi Arabia’s king to visit Tehran
The two countries had severed ties seven years ago after Saudi Arabia executed a revered Saudi shia cleric Sheikh Nimr...
- The two Middle East powerhouses had held several rounds of dialogue in Iraq and Oman before reaching the agreement to mend ties on March 10 in China.
- Saudi delegation to visit Iran to discuss the reopening of the embassy and consulate. Iranian officials say diplomatic mission likely to open before May 9.