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ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Yalla Group Q1 revenue $83m

Net income rose to $36.4 million, a 17% YoY increase.

Qatar Airways annual profit $2bn

This was a record 28% jump in annual net profit.

Masdar issues $1bn bond

Its green bond program hits $2.75 billion.

Dubai Airport tops air connectivity ranking for Asia-Pacific and Middle East

Dubai, UAE - Dubai International Airport (DXB) has once again secured the top spot in the Airports Council International’s (ACI)...

Tech and sustainability drive Singapore’s smart tourism vision

To realize its vision for “smart tourism”, Singapore Tourism Board is leveraging cutting-edge technologies like artificial intelligence, data analytics, and...
  • STB’s Tcube, a hybrid innovation space launched in 2021, has helped tourism businesses introduce tech solutions, including Al, into their operations.
  • More than 1,100 tourism companies have benefited from Tcube programs. Its Singapore Tourism Accelerator has supported 47 start-ups to develop 58 industry solutions across 6 cohorts

Salik 2024 net profit before taxes $348m

The toll operator's revenue increased by 6% to $626 million.
  • The company said that EBITDA for the full year reached AED1.6 billion, a 13.6 percent YoY growth.
  • The Board of Directors proposes a dividend of AED619.8 million to be paid during H1 2025 (equivalent to 8.2645 fils per share).

Saudi Arabia’s inflation rate 2 percent in Jan, rental prices main driver

Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...
  • According to GASTAT, Saudi Arabia's inflation rate is considered the lowest among the G20 countries.
  • CPI measures the prices paid by consumers for a fixed basket of goods and services consisting of 490 items.

AD Ports Group 2024 net profit $484m

The Group's revenue increased 48 percent year-on-year.
  • Net profit attributable to owners grew 24 percent YoY to AED1.33 billion led by strong operating performance.
  • Total assets grew by 15 percent YoY to AED63.70 billion in 2024 while total equity increased 15 percent YoY to AED27.83 billion.

ADNOC L&S 2024 net profit $756m

The company's revenue increased by 29 percent to $3.54 billion.
  • EBITDA rose by 31 percent to $1.149 billion (AED 4.219 billion) in the same period, driven by robust performance across all business segments.
  • The Company's Q4 revenue increased by 6 percent year-on-year (y-o-y) to $881 million (AED 3.237 billion).

ADNOC Distribution 2024 net profit down 7%

Minus UAE corporate tax, it would have grown by 2.4% to $725m
  • The company achieved its highest-ever (EBITDA) of $1.05 billion (AED3.86 billion), an increase of 4.8 percent year-on-year.
  • The company's Board of Directors has recommended a cash dividend of $350 million (AED1.285 billion) for H2 2024.

IMF projects 3.3% global growth for 2025, MENA to rebound to 3.6%

Dubai, UAE -- The International Monterey Fund (IMF) has projected global growth to remain at 3.3 percent this year and...
  • IMF Managing Director Kristalina Georgieva said that growth in the Middle East and North Africa is expected to rebound to about 3.6 percent in 2025.
  • She warned that global public debt is projected to hit 100 percent of global GDP by 2030.

UAE non-oil foreign trade up by 14.6% in 2024 to reach $816bn

Abu Dhabi, UAE -- UAE's non-oil foreign trade increased by a record 14.6 percent in 2024, compared to 2023, reaching...
  • He said that of all the positive indicators, the most encouraging is the increasing contribution of non-oil exports to UAE's foreign trade.
  • Last year, they climbed 27.6 percent in to reach a record AED561.2 billion – nearly 70 percent of the AED800 billion target.

Borouge 2024 net profit $1.24bn

The company said it will maintain a $1.3bn dividend for 2025.
  • EBITDA climbed 14 percent year-on-year to $2.48 billion, driven by a 4 percent year-on-year revenue increase to $6 billion.
  • Sales volumes reached their highest-ever level of 5.3 million tonnes, supported by strategic positioning in high-growth markets across Asia, the Middle East and Africa.

ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.
  • The JV will make strategic investments in the metals and mining sector to enhance supply chain security locally and globally.
  • The joint venture will invest in a diverse range of metals and minerals in various geographies, focusing initially on emerging markets in Africa, Asia and Latin America.

Dubai Airport tops air connectivity ranking for Asia-Pacific and Middle East

Dubai, UAE - Dubai International Airport (DXB) has once again secured the top spot in the Airports Council International’s (ACI)...

Latest News

Trump’s tariffs shake up MENA economies, hitting allies, adversaries, oil trade and emerging industries: Report

Trump's sweeping tariffs are reshaping trade dynamics across MENA, impacting oil-exporting Gulf nations like Saudi Arabia, UAE and Qatar, according...

UAE tourism generates $12.24bn in hotel revenues in 2024: Minister

Abu Dhabi, UAE --  Hotel revenues in the UAE reached approximately AED 45 billion ( $12.24 billion) in 2024, reflecting...

Abu Dhabi’s non-oil foreign trade grows by 9% in 2024 to $83bn

Abu Dhabi, UAE --  Abu Dhabi Customs reported a 9 percent increase in the emirate’s non-oil foreign trade in 2024,...

Most Read

AD Ports Group 2024 revenue $4.70bn

The Group's EBITDA increased by 69 percent YOY.
  • All of the Group’s business segments — Ports, Economic Cities and Free Zones, Maritime and Shipping, Logistics, and Digital — contributed to the record-breaking revenue.
  • The Group successfully integrated two major acquisitions and accelerated its international expansion strategy, boosting profitability.

ADNOC Gas to pay $3.41bn dividend

It includes $1.7 billion scheduled for distribution in Q2 2025.
  • It reported a record adjusted net income of $5 billion, up 13 percent year-on-year, and strong EBITDA growth of 14 percent year-on-year to $8.65 billion.
  • ADNOC Gas' full-year 2024 results demonstrate the success of its disciplined strategy, unveiled in November 2024, the company said.

Al Ansari approves $85m dividend

This is approx 78% of the company's net profit after tax.
  • Al Ansari Financial Services is preparing to finalize the acquisition of BFC Group Holding for AED 735 million, a move that will significantly expand its regional footprint.
  • Post-acquisition, the company will emerge as the largest exchange company in Bahrain and the third largest in Kuwait.