Najran extends MoU with Ayan for Commerce & Industry
Jeddah, Saudi Arabia - Saudi Arabia's Najran Cement Company has announced the extension of its non-binding memorandum of understanding (MoU)...
Economy
Egypt leads Arab world in population with 113m citizens
DUBAI, UAE – Egypt stands as the most populous Arab country with 113 million people, marking it the 14th largest...
Geostrategy
Geostrategy
Jordan king meets Biden, thanks US for ongoing support
King Abdullah expressed appreciation for the US’ ongoing support for Jordan across all sectors, to enable the kingdom to pursue...
- King Abdullah expressed appreciation for the US’ ongoing support for Jordan across all sectors, to enable the kingdom to pursue economic development and regional stability
- President Biden expressed full support for Jordan and commended the Kingdom as a critical ally and a force for stability in the Middle East
Geostrategy
Tributes pour in after passing of Sheikh Khalifa
Tributes continue to pour in from around the world after the UAE announced the death of its president, Sheikh Khalifa...
- US President Joe Biden said Sheikh Khalifa was 'a true partner and friend of the United States'
- 'The EU honours his legacy & leadership under which the UAE became frontrunner of sustainable development & economic diversification'
Business
DP World owns 28% of the market in India’s ports sector
In Chennai and Hyderabad, DP World is the only operator with a presence in three major Indian ports.
- In Chennai and Hyderabad, DP World is the only operator with a presence in three major Indian ports
- DP World is a leading company in managing container ports in India and has invested nearly US$500 million in a joint venture with the NIIF
Business
DEWA posts AED691m profit
It posted 15% jump in revenue for Q1 to AED5.068 billion.
- Rise in hospitality and commercial activities in Dubai, in part due to the easing of Covid-related restrictions worldwide, has contributed to the robust demand growth
- DEWA currently provides its services to 3.5 million Dubai residents and the Emirate's active daytime population of over 4.7 million
Business
AD Ports Q1 revenue up 15 percent
Net profit was up 41 percent year-on-year to AED306 million.
- Total assets and total equity reached AED34.085 billion and AED17.770 billion, respectively, at the end of Q1 2022.
- Adjusted EBITDA for the period increased by 34 percent year-on-year to AED524 million.
Business
Elon Musk puts his bid to buy Twitter ‘on hold’
Elon Musk said he is putting his bid to buy Twitter on hold, a few weeks after agreeing to take...
- The sharp rise in the price of Tesla shares before the opening bell Friday singled rising doubts that the acquisition of Twitter will take place
- Money from the new investors cuts the amount borrowed on the value of Tesla stock to $6.25 billion, according to the filing
Geostrategy
Jordan king meets US national security adviser
The meeting, attended by Crown Prince Al Hussein bin Abdullah II, discussed enhancing the strategic partnership between Jordan and the...
- The meeting, attended by Crown Prince Al Hussein bin Abdullah II, discussed enhancing the strategic partnership between Jordan and the US
- Discussions also addressed regional issues, and ways to reach political solutions to regional crises
Business
TAQA Group’s Q1 income up 37%
The company reported financial results for 3 months ended March 31
- The company delivered strong performance underpinned by its contracted utilities businesses and boosted by higher commodity prices
- The Group revenues increased to AED 12.4 billion, 20 percent higher than the prior-year period, primarily due to higher commodity prices within the Oil & Gas segment
Business
Amanat reports 39% growth
Amanat recorded a total income of AED46.9 million
- The company recorded total income of AED 46.9 million, an increase of 40 percent on the AED 33.5 million recorded in Q1-2021
- Adjusted net profit rose to AED32.1 million in the quarter, a 39 percent increase on the AED23.1 million reported in the same quarter of the last year
Business
Fertiglobe revenue grows by 118 percent
The company raised its H1 2022 dividend guidance to at least $700 million.
- Adjusted net income in Q1 2022 was $361 million, increasing by 332 percent year-on-year.
- In March, Fertiglobe was announced as a founding constituent of the FTSE Russell ADX 15 Index.
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
Najran extends MoU with Ayan for Commerce & Industry
Jeddah, Saudi Arabia - Saudi Arabia's Najran Cement Company has announced the extension of its non-binding memorandum of understanding (MoU)...
Economy
Company News
UAE, Indonesia to cooperate in energy sector
Geostrategy
Arriyadh posts 20% profit drop
Business
Latest News
Etihad Airways and Garuda expand combined offerings to 42 destinations
Abu Dhabi, UAE----UAE's national carrier Etihad Airways and Garuda Indonesia, the national flag carrier of Indonesia, will nearly double the...
Business
UAE’s health and prevention ministry launches National Nutrition Strategy 2022-2030
DUBAI, UAE - UAE's Ministry of Health and Prevention (MoHAP) has launched the National Nutrition Strategy 2022-2030 to establish sustainable...
Science
Kazakhstan eyes energy takeovers after blackouts, ‘mismanagement’
ALMATY, KAZAKHSTAN - Kazakhstan warned Monday it could nationalize struggling energy companies in the oil-rich Central Asian country after the...
Business
Most Read
Business
Third Saudi Cruise Season begins as MSC Splendida arrives in Yanbu Port
Riyadh, Saudi Arabia--- Yanbu Commercial Port has officially kickstarted the third edition of the Saudi cruise season by berthing MSC...
- MSC Splendida, which arrived from Jeddah Islamic Port, marked the maiden cruise call for the current season that will run until May 2023.
- Cruise Saudi, a PIF-owned business that oversees the development of the local cruise ecosystem, is trying to position the Kingdom as a premier global cruise destination.
Business
Abu Dhabi Airports announces 4.7m passenger traffic in Q3 2022
ABU DHABI, UAE - Abu Dhabi Airports Monday said that in Q3 2022 passenger traffic totaled 4.7 million passengers, a...
- Abu Dhabi International Airport handled 144,083 tonnes of air freight in Q3 2022.
- Third-quarter statistics confirm that 49,046 Air Traffic Movements (ATMs) were recorded across the five airports.
Arts & Culture
‘Dai Gallery’ for Arab artists kicks off in Cairo with Qatari participation
The month-long exhibition includes works by 142 Arab artists in photography, painting, sculpture, and graphics.
- The month-long exhibition includes works by 142 Arab artists in photography, painting, sculpture, and graphics
- A symposium on Arab plastic art will take place on the sidelines of the exhibition, with the participation of a group of artists and critics