Saudi National Bank launches US dollar-denominated sukuk
RIYADH, SAUDI ARABIA - Saudi National Bank (SNB) commenced the US dollar-denominated senior unsecured sukuk issuance through a special-purpose vehicle. The sukuk are offered to qualified...
Business
KEZAD Group, Al Ghurair Group’s APT ink lease pact to set up manufacturing facility
ABU DHABI, UAE – Khalifa Economic Zones Abu Dhabi (KEZAD Group) and Al Ghurair Group subsidiary Automotive Precision Technology (APT)...
Business
Business
DFM H1 profit up up 63 percent
The second quarter profit increased by 134 percent.
- The net profit of the second quarter of 2022 increased by 134 percent to AED35.9 million compared to Q2- 2021's level of AED15.3 million.
- The Company's total consolidated revenue reached AED163.8 million in H1-2022 compared to AED136.6 million during H1-2021.
Business
GCC countries review cybersecurity policies in virtual meeting
The countries discussed working papers on global best practices on a number of issues related to the work of the...
- The countries discussed working papers on global best practices on a number of issues related to the work of the committee
- Saudi Arabia was represented by its National Cybersecurity Authority (NCA), a competent authority for cybersecurity in the Kingdom
Geostrategy
Macron welcomes Saudi Crown Prince, two discuss energy supply
French President Emmanuel Macron on Thursday warmly welcomed Saudi Arabia's Crown Prince Mohammed bin Salman for talks in Paris, with...
- Crown Prince and the French President held an expanded meeting in the presence of the delegations of the two countries, according to Saudi Press Agency
- For western countries desperate to find new sources of energy, the 36-year-old de-facto leader of the world's biggest oil producer has become an essential figure.
Geostrategy
Saudi Crown Prince ends Europe trip with deals, MoUs
Strategic partnership remains in focus as Mohammed bin Salman leaves France after heading a wide-ranging talks along with French President...
- Strategic partnership remains in focus as Mohammed bin Salman left France today after heading a wide-ranging talks along with French President Emmanuel Macron
- Earlier, a delegation of senior Saudi ministers held separate talks with their French counterparts at at the Elysée Palace
Economy
US Department of State releases 2022 Investment Climate Statements
The US Department of State released on Thursday the 2022 Investment Climate Statements, which help US companies make informed business...
- These help US companies make informed business decisions by providing up-to-date information on the investment climates of more than 160 countries.
- The statements also assess how governments uphold international labor standards and combat corruption among other considerations.
Geostrategy
UAE, Kenya to begin negotiations on free trade agreement
UAE and Kenya announced their intention to begin talks for a Comprehensive Economic Partnership Agreement (CEPA) between the two countries...
- UAE and Kenya announce their intention to begin talks for a Comprehensive Economic Partnership Agreement
- If inked, the CEPA pact will be the first free trade deal between UAE and an African nation
Business
Aldar Properties profit up 44 percent
Net Profit of Aldar in Q2 2022 amounted to $229 million.
- Aldar's group sales rose to a record level of AED 5.33 billion ($1.45bn) for H1 2022.
- Sales surge was driven by strong domestic and international demand for existing inventory.
Business
ADNOC eyes stake in key Egypt firm
ADNOC Distribution will acquire 50 percent stake in TotalEnergies Egypt.
- ADNOC Distribution said it will acquire a 50 percent stake in TotalEnergies Egypt for about US$186 million
- The acquisition will also see the refurbishment of several service stations to full ADNOC branding
Business
FAB profit up 50 percent
The company's net profit amounted to $2.18 billion.
- FAB said the total income was AED12.5 bn, up 31% year-on-year
- Customer deposits reached AED648 billion, up 8% sequentially
Business
Etihad profit for H1 $296 million
The profits rose despite 60 percent hike in fuel costs.
- Etihad carried 4.02 million passengers in H1 2022, over 3 million more than last year (H1 2021: 980,000), with an average seat load factor of 75 percent.
- Passenger loads increased consistently over the first six months, rising by 21.9 percentage points as travel demand recovered.
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Saudi National Bank launches US dollar-denominated sukuk
RIYADH, SAUDI ARABIA - Saudi National Bank (SNB) commenced the US dollar-denominated senior unsecured sukuk issuance through a special-purpose vehicle. The sukuk are offered to qualified...
Business
Company News
Latest News
Qatar Emir announces $60 million for Doha Program of Action
Doha, Qatar - Qatar Emir Sheikh Tamim ibn Hamad Al Thani announced Sunday a $60 million financial contribution to Doha...
Geostrategy
Sharjah Consultative Council approves heritage policy
SHARJAH, UAE - The Sharjah Consultative Council (SCC) approved recommendations regarding the policy of the Sharjah Institute for Heritage (SIH),...
Arts & Culture
UAE, Italy enhance bilateral relations to Strategic Partnership level
ABU DHABI, UAE - The United Arab Emirates and Italy on Saturday announced the enhancement of their bilateral relations to...
Geostrategy
Most Read
Business
Yahsat 2022 revenue up 6%
The company recorded a revenue of $433 million for 2022.
- For the twelve-month period, Yahsat delivered growth in revenue and adjusted EBITDA, which increased 6 percent and 7 percent respectively year-on-year.
- Other highlights include Adjusted EBITDA of AED946 million ($258 million), up 7 percent year-on-year, delivering a margin of 60 percent.
Economy
Khalifa Fund announces winner of CEO Program
ABU DHABI, UAE - Khalifa Fund for Enterprise Development, in partnership with the Abu Dhabi Department of Economic Development (ADDED)...
- The CEO program is a rigorous nine-month program that aimed to cultivate entrepreneurship and innovation skills.
- The program also helps build and grow ag-food tech ventures and contribute to the UAE's Food Security Strategy.
Business
RAKEZ supports F&B industry investors to set up, expand in UAE
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) is participating in the Gulfood exhibition to showcase its...
- With an aim to promote the F&B industry, RAKEZ regularly participates in the annual Gulfood exhibitions.
- RAKEZ supports investors to gain a foothold in the local, regional and global markets through its business ecosystem.