e& 2023 net profit is US$2.8bn
e& said the net profit is a growth of 3 percent year-over-year.
Business
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
Arts & Culture
Nearly 30 percent of Saudi residents exercise for 150 minutes a week
About 30 percent of Saudi residents practiced a physical activity for at least 150 minutes per week in 2021, compared...
- Only 20 percent of residents exercised in 2019, according to the General Authority for Statistics (GASTAT).
- 48.2 percent of the resident population practice activity for at least 30 minutes per week, an increase of 3.2 points compared to 2019 (45 percent).
Economy
DEWA says 287 11kV substations commissioned in H1 2022
Dubai Electricity and Water Authority (DEWA) has commissioned 287 11kV substations in Dubai in the first half of 2022. This...
- These 287 11kV substations are primarily in Al Merkad, Jabal Ali First, Saih Shuaib 2, Al Jadaf and Burj Khalifa areas
- Building these substations included 177,875 working hours as per the highest quality, efficiency and safety standard
Business
Ataa acquires Saudi firm Naba’a
The acquisition made through Ataa subsidiary.
- The financial impact will be visible on the financial results for the year ending on July 31, 2022.
- In January 2021, Ataa inked a partnership agreement to acquire 52 percent of Riyadh-based Al Wasat National Schools for Training and Education Company.
Business
Salama Coop Insurance to cut capital
The company’s shares will also reduce from 25 million to 10 million.
- Salama Cooperative Insurance Company's capital will stand at SAR 100 million
- The Saudi company’s shares will now reduce from 25 million to 10 million.
Business
UAE applauds grain export deal between Russia and Ukraine
The UAE has welcomed the agreement reached between Russia and Ukraine on the export of grain, and has applauded the...
- The Ministry of Foreign Affairs and International Cooperation reaffirmed that the agreement is a positive step that will contribute to enhancing global food security
- The UAE President Sheikh Mohamed bin Zayed Al Nahyan today made a phone call to the President of the Republic of Turkey, Recep Tayyip Erdogan
Business
EITC posts 26% jump in profit
The net profit rose to $82.5 million for the second quarter.
- The company's mobile customer base grew 13.0% to 7.4 million subscribers
- It ended the quarter with 6.1 million prepaid customers
Business
Al Dhaid Date Festival supports farmers to improve output
The four-day event is organized by the Sharjah Chamber of Commerce and Industry (SCCI).
- The positive changes in the 2022 edition resulted in increased competitiveness among palm owners and farmers.
- It has attracted hundreds of participants, in addition to impressive turnout of visitors from all over the country.
Economy
Dubai’s labor body to expand schemes for welfare of workers
The Permanent Committee for Labor Affairs has reiterated its commitment to collaborate with private and social organizations to consolidate the...
- The Permanent Committee for Labor Affairs said it will collaborate with private, social organizations for progressive labor policies in Dubai
- PCLA said it pursues workplace campaigns and community initiatives to improve workers’ standard of living and working
Business
Saudi Arabia inks several deals at Farnborough airshow
The General Authority for Military Industries led and organized the Saudi pavilion under the slogan "Invest in Saudi."
- The national company for defense industries in the kingdom, SAMI, inked a deal with Airbus Helicopters Arabia.
- The deal will help SAMI build its technical capabilities to provide technical support for helicopters for Saudi forces.
Arts & Culture
Al-Ula: World’s largest open air museum
The Saudi region is rich in history that has been shaped by successive civilizations spanning more than 200,000 years.
- Al-Ula was known before Islam as “Dadan” as mentioned in the Assyrian and ancient Arab books, as well as as “Valley of Villages".
- But its name was associated with the legacy of the civilization of the Nabataeans, Dadanites and Lihyans.
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e& 2023 net profit is US$2.8bn
e& said the net profit is a growth of 3 percent year-over-year.
Business
Company News
Latest News
CBUAE unveils FIT program to promote digital transactions
Dubai, UAE---The Central Bank of UAE Sunday launched Financial Infrastructure Transformation Program (FIT program) to accelerate the digital transformation in...
Business
International Defense Conference 2023 to begin in Abu Dhabi
Abu Dhabi, UAE - The International Defense Conference 2023 will be held on 19th February at the ADNOC Business Centre...
Business
UAE and Japan to boost collaboration in skill development
The two sides reaffirmed their keenness to advance bilateral cooperation in the fields of human resources and skill development.
Geostrategy
Most Read
Economy
Dubai Customs, Dubai Chambers discuss support for private sector
DUBAI, UAE - Dubai Customs and Dubai Chambers discussed supporting businesses and the private sector and enhance the emirate’s competitiveness...
- Dubai Customs, Dubai Chambers discussed their shared plans and strategies, including the electronic integration of services.
- They also discussed the development of new services to consolidate Dubai’s position as a major global economic hub in the next 10 years.
Geostrategy
UAE, France, India to join hands in energy, climate change sector
The United Arab Emirates, France and India have issued a joint statement announcing the establishment of a trilateral cooperation initiative...
- The three countries affirmed that the trilateral initiative will serve to promote the design and execution of cooperation projects in various fields
- The initiative will also serve as a platform to expand cooperation between the three countries’ development agencies on sustainable projects
Business
PIF, AeroFarms to build indoor farms
The farms will have a capacity of 1.1m kg of crops per year.
- The agreement aims to optimize natural resources through indoor vertical farming, which requires no arable land.
- The partnership will allow for sustainable, local sourcing of high-quality crops all year round, grown with AeroFarms' AgTech platform.