Building a secure future: Key takeaways from WEF’s Dubai meetings
The Annual Meeting on Cybersecurity, held jointly with the Global Future Councils, focused on strengthening global cooperation to enhance digital...
Geostrategy
Tech leaders unite to propel future-critical sectors at GITEX GLOBAL 2025
Dubai, UAE: With capabilities of AI advancing every year, its potential to address challenges once thought unsolvable is rapidly expanding,...
Business
Science
AI to contribute in enhancing low-emissions development
BONN, GERMANY - Artificial intelligence (AI) can make substantial contributions to climate-resilient and low-emissions development. UN Climate Change’s Initiative on...
- UN Climate Change’s Initiative on Artificial Intelligence for Climate Action explores the role of AI as a tool for climate action in developing countries.
- It aims to deliver results both on policy and implementation, under the first joint work program of UN Climate Change’s Technology Mechanism.
Science
Global energy meet discusses way forward to net-zero emissions
VIENNA, AUSTRIA – High-level representatives from the member states of the United Nations Industrial Development Organization (UNIDO), international organizations, experts...
- The two-day forum showcased innovative technologies and transformative solutions to accelerate low-emission, climate-resilient development.
- The international event aimed to foster new partnerships to scale up investments and technology transfer to developing countries.
Geostrategy
Dubai Customs thwarts smuggling at airport, seize drugs
DUBAI, UAE –The Dubai Customs apprehended a traveler arriving from a European country who was trying to smuggle various small...
- Dubai Customs relies on highly skilled, experienced, and efficient personnel and state-of-the-art inspection and scanning equipment.
- The seized items included 292 hallucinogenic pills, 5 hallucinogenic stamps, 13.84 grams of hallucinogenic powder, 7.38 grams of crack cocaine.
Geostrategy
Bahrain suspends economic relations with Israel
DUBAI, UAE - Bahrain has recalled its Ambassador from Israel and decided to suspend economic relations with Tel Aviv in...
- Bahrain took the decision to recall the Kingdom’s Ambassador to Israel back to the country, the Council of Representatives said.
- It also demanded taking measures to preserve lives of people in the Gaza Strip and other regions of Palestine.
Business
Ducab, Somagec ink MoU
The MoU will enable UAE-based firm to enter Angolan market.
- Ducab Group already supplies its “Made in the UAE” products to 15 countries in Africa.
- It is constructing over 400 kilometers of 220kV transmission lines in Angola.
Business
Al Ansari Financial Services okays dividend
The first proposed interim dividend is of $81 million.
- All matters relating to future dividend distribution will be subject to the Board of Director's recommendation and shareholder's approval.
- The approved US$81 million cash distribution aligns with the group's previously announced dividend policy.
Business
stc, Microsoft to collaborate
The aim is to advance digitalization in Saudi Arabia.
- The two firms will jointly develop and deploy cutting-edge solutions that will transform and empower organizations across various industries.
- The collaboration between the organizations aims to enable stc’s subsidiaries to explore new markets, develop disruptive business models.
Business
Middle East conflict alters regional energy dynamics
Chevron's Tamar gas field halt, rising global oil prices, and jeopardized gas supplies to Egypt and Jordan underscore the impact...
- Chevron's Tamar gas field halt, rising global oil prices, and jeopardized gas supplies to Egypt and Jordan underscore the impact of geopolitics on energy security.
- Achieving peace in the Middle East region is crucial, not just for the well-being of its people but also for maintaining global economic stability and energy security.
Business
Maaden posts net loss in Q3
Sales revenue was US$1.6 billion (SAR 6.22 billion) in Q3 2023.
- Maaden posted a net profit of US560 million (SAR 2.1 billion) in Q3 2022.
- Maaden posted net earnings of $183 million for the first nine months of 2023.
Business
NMDC, AD Ports Group ink MoU
The firms will continue to work closely on future global projects.
- The agreement is in line with the objectives of UAE’s national strategy for industry and advanced technology.
- The MoU will help the two firms to work together to strengthen the global maritime industry and support the economic growth of the UAE.
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Building a secure future: Key takeaways from WEF’s Dubai meetings
The Annual Meeting on Cybersecurity, held jointly with the Global Future Councils, focused on strengthening global cooperation to enhance digital...
Geostrategy
Company News
Latest News
DAE to acquire 17 aircraft for $1 bn
This portfolio comprises 100 percent next-generation aircraft
Business
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Business
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).
Economy
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.
Business
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.