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TAQA net income $1.93bn in 2024

The company's revenues increased 6.7 percent year-on-year.

ADNOC L&S 2024 net profit $756m

The company's revenue increased by 29 percent to $3.54 billion.

ADNOC Distribution 2024 net profit down 7%

Minus UAE corporate tax, it would have grown by 2.4% to $725m

Maaden raises $1.25bn in sukuk offering

The Sukuk were offered in a five-year and a 10-year tranche.

DAE net profit up 36.2%

Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.

Kuwait Fund’s $3.6bn development works earns it gratitude of Egyptian PM

  • The Kuwait Fund was financing $3.6 billion worth of projects in health, transportation, agriculture, electricity, oil, and water
  • Al-Ghanim will attend inauguration of Bahr Al-Baqar water treatment station

Noting the wide contributions of the Kuwait Fund for Arab Economic Development (KFAED) to his country, the Prime Minister of Egypt, Mustafa Madbouli, has said that the Kuwait Fund was financing $3.6 billion worth of projects in health, transportation, agriculture, electricity, oil, and water in the North African country.

He praised the  “deep-rooted” relations with State of Kuwait, and said his government sought to further develop cooperation with Kuwait Fund for Arab Economic Development which he considered “one of Egypt’s major partners in development.” He was speaking during a meeting with KFAED Director General Marwan Al-Ghanim and his delegation.

Madbouli said he was looking forward to “deepening partnership” with KFAED to finance “new development projects” including in Sinai peninsula, which improved the living conditions in the region.

Al-Ghanim said he was happy to be in Egypt to participate in the launch of development projects, and added that Kuwait Fund was keen on contributing to development in Egypt.

Al-Ghanim will attend inauguration of Bahr Al-Baqar water treatment station. The station, in Port Said Governorate, will be inaugurated by President Abdulafatah Al-Sisi.

The station will treat 5.6 million cubic feet of water per day and to water will be used to irrigate farm lands in northern Sinai.