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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 conference explore ways to nullify environment challenges

This is especially important with the ongoing preparations for the UAE to host the 28th Conference of the Parties by...
  • Important topics at the conference included the application of membrane technology and nano-technology in water treatment
  • The conference brought together global researchers, decision-makers, academics, and experts to discuss environmental and sustainability issues

GCC’s digital economy forging ahead rapidly, says Oman IT minister

Muscat, Oman - Saeed bin Hamoud Al Maawali, Omani Minister of Transport, Communications and Information Technology, has said that the...
  • He stressed the importance of promoting cooperation between the GCC and its international partners to increase the pace of digital transformation.
  • He also noted the need to enhance the cooperation between the UAE and Oman in developing the digital economy infrastructure.

UAE, Morocco discuss ways to boost cooperation in energy, industry

Rabat, Morocco - UAE and Morocco discussed ways of boosting their cooperation and investment opportunities in industry, economy, investments, culture,...
  • The discussion occurred between Sultan Ahmed Al Jaber, UAE's Minister of Industry and Advanced Technology and Aziz Akhannouch, Prime Minister of Morocco.
  • Al Jaber also held meetings with Riyad Mazour, Moroccan Minister of Industry and Trade, and Leila Benali, Moroccan Minister of Energy Transition and Sustainable Development.

UAE pledges full support to Jordan, condemns assault on its security

Abu Dhabi, UAE - The UAE has affirmed full support and solidarity with Jordan, stressing the importance of ensuring stability...
  • The Ministry of Foreign Affairs and International Cooperation (MoFAIC) expressed the UAE's support for all measures taken by the Jordanian government.
  • It said UAE condemns these criminal acts and its permanent rejection of all forms of violence and terrorism aimed at undermining security.

DEWA wins top award by UK based institute

Dubai, UAE - Dubai Electricity and Water Authority (DEWA) won the Best Creative Electricity and Water Solutions Brand by Global...
  • Saeed Mohammed Al Tayer, MD and CEO of DEWA, expressed his happiness with the award
  • DEWA received many accolades in excellence in 2021, including winning the Sheikh Khalifa Excellence Award (SKEA) in the Elite Category.

AD Ports signs pacts with Kyrgyzstan to promote trade with Central Asia

Abu Dhabi, UAE--- AD Ports Group has signed two major agreements with the Government of Kyrgyzstan to promote trade and...
  • Under the first pact, 300,000 sqm land within KEZAD will be secured to develop and operate a logistics hub and customs area.
  • Under the second agreement, Maqta Gateway will initiate a strategy for the Ministry of Finance for developing a customs and border management solutions.

Saudi fund launches program to assist real estate finance companies

Riyadh, Saudi Arabia---Saudi Arabia’s Real Estate Development Fund has launched a program to provide short and medium term financial facilities...
  • The kingdom aims to raise the percentage of home ownership to 70 percent by 2030 under its Vision 2030 program.
  • The financing program is also aimed at stimulating the mortgage market in line with the requirements of the Saudi Refinancing Company.

ADNOC Drilling to acquire rigs

The two offshore jack-up rigs will be bought for $200 million.
  • Since listing on the Abu Dhabi Securities Exchange in October 2021, ADNOC Drilling has expanded its fleet from 95 to 108 owned rigs, as of 30th September, 2022.
  • This rig purchase adds to earlier deals for a total of nine rigs signed in 2022 and four rigs acquired in 2021.

Governments of UAE, Egypt launch ‘Egypt Services Center’

ASWAN, EGYPT - The governments of the UAE and Egypt inaugurated the Egypt Services Center in the Aswan Governorate, which...
  • The inauguration is part of the strategic partnership between the two countries in government modernization.
  • The center will adopt a smart system to provide over 30 individual government services.

Saudi PIF acquires 9.5% stake in offshore wind energy developer Skyborn

Dubai---Saudi Arabia's sovereign wealth fund, the Public Investment Fund, had acquired a 9.5 percent stake in Skyborn Renewables, an offshore...
  • PIF said it is investing in Skyborn alongside Global Infrastructure Partners, , a US-based infrastructure investment fund.
  • The Skyborn, which is based in Bremen, Germany, has a presence in 15 European and Asia Pacific markets.

Saudi bid to host 2034 World Cup positions Kingdom as global center for top sports events

Saudi Crown Prince Mohammed bin Salman announced the Kingdom’s bid to host the 2034 FIFA World Cup. He said this...

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Ahli Islamic signs agreement with AAOIFI to support Islamic banking

MUSCAT, OMAN - As part of its ongoing efforts to support the Islamic banking industry, ahli Islamic signed a Memorandum...

Dragon Oil, Turkmennebit ink MoU

Aim is to expand Dragon Oil’s investments in Turkmenistan.

Dubai Center for Family Businesses issues guidelines

DUBAI, UAE –  The Dubai Center for Family Businesses, which operates under the Dubai Chambers umbrella, has released a ‘Sample...

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Invest Qatar launches azure open AI GPT-powered chatbot ‘Ai.SHA’

DOHA, QATAR - The Investment Promotion Agency Qatar (Invest Qatar) has partnered with Microsoft to develop Ai.SHA, an innovative AI-powered...
  • This initiative positions Invest Qatar as one of the first investment promotion agencies (IPA) in the world to adopt advanced technology.
  • This will pave the way for transformative changes in professional interactions between investors and businesses in Qatar.

Over 12m people visit Riyadh Season in 60 days

RIYADH, SAUDI ARABIA - Two months after their launch, on October 11, 2023, Riyadh Season events had already attracted 12...
  • Riyadh Season attracts large number of visitors with different kinds of activities and experiences.
  • It is one of the major Saudi events that establishes new concepts in the world of entertainment.

Jordan takes steps to raise position in Global Food Security Index, says minister

AMMAN, JORDAN - Agriculture Minister Khaled Al-Hneifat said the ministry has been working hard over the past year to create...
  • One of the points to achieve this goal are the creation of a national database for food security.
  • The other is the issuance of a unique system for the Food Security Council, the minister said.