US slaps fresh sanctions on China-linked firms over Iran missile programÂ
The United States on Friday announced a fresh round of sanctions targeting people and companies in China, Hong Kong, Belarus,...
Geostrategy
India to US: 8 nations issue Middle East travel advisories amid Iran tensions
Several governments have urged their citizens to leave Iran immediately, while others are pulling non-essential embassy personnel from sensitive locations,...
Geostrategy
Business
Americana Restaurants posts profit.
The annual net profit in 2022 was US$470 million.
- The company demonstrated resilient performance, despite US$106 million impact of unfavorable foreign exchange movements.
- Adjusted EBITDA increased to $550.8 million, reflecting a 2.8 percent growth year-on-year with a healthy adjusted margin of 22.8 percent.
Business
QEWC 2023 net profit US$426m
QEWC market share in supply of electricity was 61 percent.
- The earnings per share amounted to US$0.38 (QR 1.41) as of December 31, 2023.
- QEWC reported revenue of $799 million in 2023 compared to $747 million in 2022.
Business
Ford Middle East sales up 63%
Growth fueled by Ford Territory, F-150 and other models.
- Ford Middle East said in a statement that the UAE recorded a 57 percent year-on-year increase in sales – more than double the industry’s average of 26 percent in this market.
- It also achieved a record year of growth in Saudi Arabia, where retail figures surged by 77 percent over 2022.
Business
Air Arabia 2023 net profit $408m
The firm recorded a 27 percent rise in profit compared to 2022.
- The company in its financial results said that the airline's turnover for 2023 reached US$1.6 billion
- Air Arabia’s Board of Directors proposed a dividend distribution of 20 percent of share capital,
Business
solutions by stc, Devoteam ink MoU
The aim is to foster avenues for collaboration in technology.
- The pact follows and builds upon the acquisition by solutions of a 40 percent stake in Devoteam Middle East.
- The collaboration also aims to combine the experience and resources of the parties for mutual benefit.
Business
GPSSA issues circular on pensions, gratuity in UAE
ABU DHABI, UAE – The Emirates General Pension and Social Security Authority (GPSSA) has issued a circular to government and...
- The circular included limiting the procedure of deduction from the pension or end-of-service gratuity for the benefit of GPSSA's debt.
- In cases of unlawful disbursement, GPSSA has the right to deduct from other beneficiaries' shares, proportional to their entitlements.
Business
Several nations eager to join Charter of Cooperation, says OPEC Secretary-General
ABU DHABI, UAE - Secretary-General of the Organization of Petroleum Exporting Countries Haitham Al Ghais said that OPEC is in...
- The names of these countries will be announced after the completion of the ongoing consultations, the OPEC chief said.
- He said the Charter helps facilitate dialogue and exchange views regarding conditions in the global oil and energy markets.
Business
stc Group inks several pacts
The pacts were signed at the PIF’s Private Sector Forum.
- The annual Private Sector Forum brings together policymakers, key local private sector players, visionaries and industry leaders.
- The agreements signed covered a range of strategic stc Group objectives, from sustainability to digital transformation.
Business
Iran agricultural, food exports hit US$4.8bn in 10 months
TEHRAN, IRAN – The country has exported more than 6.7 million tons of agricultural and food products worth US$4.8 billion...
- Of this amount, 4,944,481 tons worth $2,930,585,728 were dedicated to the export of agricultural products.
- While 1,133,710 tons worth US$931,961,158 were dedicated to the export of food products.
Geostrategy
Saudi Arabia’s air defense commander examines Russia’s S-350, S-400 systems
RIYADH, SAUDI ARABIA – The Commander of the Royal Saudi Air Defense Force Lieutenant-General Mazyad bin Suleiman Al-Amr has inspected...
- The Royal Saudi Air Defense Force Commander saw various radars from the Almaz-Antey air defense concern.
- The commander visited the stands of Russian defense industry companies and paid special attention to the air defense systems.
US slaps fresh sanctions on China-linked firms over Iran missile programÂ
The United States on Friday announced a fresh round of sanctions targeting people and companies in China, Hong Kong, Belarus,...
Geostrategy
Company News
SIB H1 net profit $189m
Business
Latest News
Dubai GDP grows by 4 percent to reach $32.58 billion in first quarter of 2025
Human Health and Social Work activities registered the highest growth rate, rising 26 percent compared to the same period last...
Economy
Hospitality leaders to gather in Dubai for Commercial Strategy Conference
Dubai, UAE -- The region's top hospitality professionals will converge at the Conrad Dubai Hotel on November 25-26, 2025, for...
Business
Neo Space Group launches Saudi Arabia’s first earth observation marketplace
Riyadh, Saudi Arabia -- Neo Space Group (NSG), a Public Investment Fund (PIF) company, has announced the launch of the...
Business
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Business
Borouge Q2 net profit $193m
The H1 revenue stood at $2.72 billion.
- Adjusted EBITDA for the second quarter was $440 million.
- The company has proposed an increased minimum interim dividend of 8.1 fils per share for H1.
Business
Saudi Arabia’s real GDP up by 3.9 percent in Q2 2025: GASTAT
Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) grew by 3.9 percent in the second quarter of...
- Flash estimates of GDP for Q2 say non-oil activities recorded the highest growth at 4.7 percent.
- The estimates, released by GASTAT, said oil activities grew by 3.8 percent and government activities at 0.6 percent.
Business
ADNOC Drilling H1 revenue $2.37bn
The company posted a net profit of $692m.
- The company's Board of Directors approved the $217 million (approx. 5 fils per share) second quarterly dividend for 2025.
- The dividends are expected to be paid in the second half of August 2025 to all shareholders of record as of 8th August 2025.