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PureHealth posts $137m Q1 net profit

The Group's revenue increased 8 percent YoY.

Borouge Q1 net profit $281 million

The total dividend paid to shareholders in 2024 $1.3bn.

Emirates expects first 777X delivery in H2 2026

Boeing had pushed back the first delivery to 2026 from 2025.

Aramco, unit and Sinopec ink $4bn deal

The two companies will establish a joint venture company.

Etihad unveils new A321LR aircraft

A321LR features First Suite - a private, enclosed space with a sliding door.

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 Crown Prince meets Jordanian PM in Riyadh

Earlier on Monday, Jordanian-Saudi ministerial meetings were held to discuss bilateral cooperation in various fields.
  • Earlier on Monday, Jordanian-Saudi ministerial meetings were held to discuss bilateral cooperation in various fields
  • The two sides also reaffirmed their joint keenness to leverage available and joint opportunities in various fields

Turkey discovers 150m barrels of oil reserves worth $12bn: Erdogan

Erdogan said Ankara aims to increase its daily production to 100,000 barrels by the centennial of the Republic of Türkiye.
  • Erdogan said Ankara aims to increase its daily production to 100,000 barrels by the centennial of the Republic of Türkiye
  • The newly discovered oil reserves have been named after Gendarmerie Esma Cevik, who was killed clearing mines on Gabar Mountain

Dubai races ahead to be global epicenter for crypto

While the crypto ecosystem still reels from the collapse of FTX, and investor apprehension about the future of the digital...
  • The UAE is the third largest cryptocurrency market in the Middle East, behind Turkey and Lebanon, with a transaction volume of roughly $26 billion
  • The emirate demonstrated its willingness with VARA to be the first country to have the regulation to oversee the crypto sector rather than curbing it

Saudi communications ministry inks MoU with Huawei

Under the terms of the agreement, the Ministry and Huawei will collaborate to realize a '10Gbps Society', to build a...
  • Under the terms of the agreement, the Ministry and Huawei will collaborate to realize a '10Gbps Society', to build a superfast broadband infrastructure
  • Huawei will work with the Ministry to support digital entrepreneurs working on smart cities, IoT, AI, gaming, fintech, e-commerce, and blockchain projects

Dubai International Chamber launches three new offices in Cairo, Tel Aviv, Istanbul

The formal inauguration of the representative office in Tel Aviv will take place in the Israeli capital on December 13.
  • The formal inauguration of the representative office in Tel Aviv will take place in the Israeli capital on December 13
  • International offices have a dual mission of supporting and guiding Dubai companies through every stage of their global expansion

Jordan and Saudi Arabia to boost cooperation, strategic ties

Amman, Jordan— Jordan and Saudi Arabia held discussions on enhancing bilateral cooperation in various fields and boosting strategic ties between...
  • Both countries reaffirmed their keenness to enhance cooperation and bilateral integration, and to leverage available and joint opportunities in various fields
  • The two sides discussed projects that would deepen bilateral cooperation in economic, investment, trade, energy, water, and transportation

Abu Dhabi, Dubai gain as realty prices rise in UAE

The UAE’s real estate market flourished during November as sales in Dubai alone crossed 10,000 transactions, the highest recorded since...
  • The UAE’s real estate market flourished during November as sales in Dubai alone crossed 10,000 transactions, the highest recorded since 2011, says a latest report
  • In November, the off-plan market witnessed the highest value of transactions in a decade by recording AED 12.7 billion for the first time

DEWA approves special $552m dividend

The record date for the dividend is 22 Dec. 2022.
  • DEWA, which is listed on the Dubai Financial Market, held its second general assembly for 2022 under the chairmanship of Matar Humaid Al Tayer, Chairman of the Board of Directors.
  • “This dividend yield is more attractive than most companies listed on the ADX, DFM, and Tadawul, as well as other global utility companies,” said Al Tayer.

Chinese electric car company Nio to enter UAE this year

Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an...

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Iranian warship enters Red Sea, reports media

TEHRAN, IRAN - Iran's Alborz warship has entered the Red Sea through the strategic Bab al-Mandeb strait, Tasnim news agency reported...

Maisarah leads Oman government’s successful sukuk issuance

MUSCAT, OMAN - Maisarah Islamic Banking Services, Islamic window of BankDhofar, acted as an Issue Manager for the Sovereign Sukuk...

Sheikh Hamdan issues resolution regulating single-use products in Dubai

DUBAI, UAE -  Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive...

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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...
  • Iran and Turkey, with populations of 89 million and 86 million respectively, demonstrate substantial numbers in the Middle East region.
  • The data, highlighting population sizes of various countries worldwide, pointed out that the global population has reached 8.082 billion.

Sharjah Consultative Council okays emirate’s draft budget 2024

Sharjah, UAE - The Sharjah Consultative Council approved the draft law regarding the budget of departments and entities of the...
  • The draft was presented to the council by Sheikh Mohammed bin Saud Al Qasimi, Head of the Sharjah Finance Department for a final review and approval
  • After a final review, the council approved the draft law regarding the 2024 general budget for the Sharjah Government departments

IsDB, SWCC sign agreement

The collaboration will involve efforts from both parties.
  • The agreement includes a mechanism for exchanging knowledge and experiences.
  • It would involve transferring the experience of SWCC to the member countries of IsDB.