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ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Empower okays $119.1m H2 2025 dividend

The dividend is equivalent to 43.75% of paid-up capital.

Alujain widens 2025 loss

The increase in loss is due to impairment charges, weaker prices.

Masar 2025 net profit $262m

Higher land plot sales boost revenue and operating income.

Tasnee’s 2025 losses deepen

The petrochemicals' company's revenue also fell 17.7 percent.

EIC to pay $22m dividend

The company's board had decided 15% cash dividend for H2 2023.

Business

UAE launches first legally established financial ombudsman unit 

Abu Dhabi, UAE – Sanadak, UAE's and MENA region's first legally established independent Ombudsman Unit catering to consumers of financial...

Business
Economy

US economy rose 2.9% in Q3, more than early report

The US economy grew more than initially reported in the third quarter this year, with government data released Wednesday reflecting...
  • It has been the first GDP expansion this year, after two quarters of negative growth that deepened fears of a recession in the world's biggest economy
  • The pick-up came days before midterm elections in the United States, in welcome news for President Joe Biden, but analysts have cautioned of a less rosy path ahead
Economy

ZATCA extends period of exemption of penalties for Saudi taxpayers

Saudi Arabia's Zakat, Tax and Customs Authority has extended the period of Cancellation of Fines and Exemption of Penalties Initiative...
  • Saudi Arabia's Zakat, Tax and Customs Authority has extended the period of Cancellation of Fines and Exemption of Penalties Initiative for taxpayers
  • Penalties included in the ZATCA initiative cover exempting taxpayers from late registration in all tax systems, late payment of fines, etc
Business

Two new unconventional nonconventional gas fields discovered in Saudi Arabia

Awtad unconventional nonconventional gas field has been discovered southwest of Ghawar field, 142 km southwest of Al-Hofuf, says Saudi minister
  • The Awtad unconventional nonconventional gas field has been discovered southwest of Ghawar field, 142 km southwest of Al-Hofuf, says Saudi minister
  • Prince Abdulaziz bin Salman adds that the importance of these discoveries lies in increasing the Kingdom’s natural gas reserves
Business

Aramco completes three transactions with Polish refiner and fuel retailer

As part of the transaction, first announced in January 2022, the company acquired equity stakes of 30% in a 210,000...
  • As part of the transaction, first announced in January 2022, the Saudi firm has acquired equity stakes of 30% in a 210,000 barrels-per-day refinery in Gdansk
  • The Saudi oil company has also bought 100% stake in an associated wholesale business; and 50% in a plane fuel marketing joint venture with BP Europa SE
Business

AMEA Power completes $1.1bn deal to deploy 1GW of energy projects in Egypt

The landmark 500 MW wind and 500MW solar projects, represent US$1.1bn of investment into the Egyptian economy and takes the...
  • The landmark 500 MW wind and 500MW solar projects, represent US$1.1bn of investment into the Egyptian economy and takes the company’s clean energy portfolio to 2GW in the country
  • AMEA Power will build, own and operate the 500MW solar PV plant, which will be located in the Aswan governorate of Egypt. The Project is financed by International Finance Corp
Economy

Turkey’s economy to grow 5 percent in 2022: Poll

In 2021, Turkey's economy rebounded from the COVID-19 pandemic to grow 11.4 percent.
  • In 2021, Turkey's economy rebounded from the COVID-19 pandemic to grow 11.4 percent
  • The Turkish Statistical Institute will announce Q3 GDP growth data at 0700 GMT on Nov 30
Economy

UAE, Cameroon non-oil trade exchange grows by 33.5% in last 10 years

Non-oil trade exchange between the UAE and Cameroon grew by 33.5 percent between 2012 and 2021, reaching $522 million by...
  • The total non-oil trade exchange between 2012 and 2021 stood at $4.95 billion, according to figures of the Federal Competitiveness and Statistics Centre
  • Non-oil trade between the two countries reached $406 million in the first nine months of this year

Qatar Charity organizes events for its sponsored orphans around the world

The events aim to focus on the rights of the child and the duties of states and societies in order...
  • The events aim to focus on the rights of the child and the duties of states and societies in order to protect and care for them
  • Sponsored children, including children with disabilities, participated in several activities in Pakistan, Bosnia, Djibouti, Yemen, Somalia, Albania, Tunisia, Kosovo, and Turkey
Science

UAE moon rover launch put off, to run more ‘pre-flight checks’

Dubai, UAE— The UAE’s moon rover launch has been delayed by one day in order to run more pre-flight checks,...
  • Rashid Rover, the Arab world’s first lunar mission, is now scheduled to launch at 8:37 a.m. (GMT) on Thursday, Dec.1, from Cape Canaveral in Florida, US
  • The integrated spacecraft once launched will take a low-energy route to the moon rather than a direct approach
Economy

Saudi Arabia extends term of $5 billion deposit for Central Bank of Egypt

The Egyptian economy has been hard-hit by the coronavirus pandemic and the war in Ukraine.
  • The Egyptian economy has been hard-hit by the coronavirus pandemic and the war in Ukraine
  • The package would allow Egypt to open '‘new financing channels with regional and international organizations''

EIC to pay $22m dividend

The company's board had decided 15% cash dividend for H2 2023.
Business

Company News

Dana Gas posts $110m profit

SAMI revenue vaults to $605m

SEIC buys stakes in Egypt firms

Air Arabia H1 profit $122.8m

ADNIC H1 net profit $50m

Latest News

Saudi Arabia raises US$11bn syndicated loan to fund deficit

RIYADH, SAUDI ARABIA - Saudi Arabia raised a syndicated loan of US$11 billion (SAR 41.25 billion) to fund a budget...
Business

UAE approves Dubai Metro Blue Line project

DUBAI, UAE - Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has approved the...
Geostrategy

Saudi minister says 6,225 industrial firms from Kingdom invest US$30bn in Egypt

RIYADH, SAUDI ARABIA - A total of 6,225 Saudi industrial businesses are operating in Egypt with US$30 billion worth of...
Business

Most Read

Business

8 pacts on trade, investment inked in Saudi-Algerian Business Forum

RIYADH, SAUDI ARABIA - The Saudi-Algerian Business Forum concluded its activities with the two countries signing eight agreements aiming at...
  • The agreements cover trade, investment, information technology, business incubators and accelerators, tourism services, elevators, and spare parts.
  • The pacts were signed by the Federation of Saudi Chambers, the Council for Algerian Economic Renewal and several Saudi and Algerian firms.
Business

Solutions+, EIH sign MoU

The pact will help in creating job opportunities in the UAE.
  • The pact outlines a strategic cooperation that contributes to supporting and developing closer ties between the two companies.
  • The agreement will help improve efficiency in Business Process Outsourcing, Digital Management and Facility Management.
Business

EGA begins work on pilot plant to convert bauxite residue into manufactured soil

ABU DHABI, UAE – Emirates Global Aluminum (EGA) on Thursday announced the construction of a pilot plant to convert bauxite...
  • The pilot plant will use technology to neutralise caustic bauxite residue into an environmentally benign raw material in hours.
  • This optimised bauxite residue is the main ingredient for the manufactured soil, which EGA calls turba.