Yanbu industrial port receives first RORO vessel, carrying nearly 2,000 cars
Yanbu, Saudi Arabia - The King Fahad Industrial Port in Yanbu welcomed the arrival of the "Hoegh Sydney," marking the...Business
Weyay recognized as ‘Fastest Growing Digital Bank’ in Kuwait by Mastercard
Kuwait City - Weyay was recognized as 'Fastest Growing Digital Bank' in Kuwait by Mastercard on the sidelines of the...Business
Dana Gas reports $139m net profit in H1
Dana Gas, the UAE-based energy producer, is out of woods with a big rise in its net profit to $139...The first half is one of the strongest financial periods for the gas company
The firm reported a net profit of $139 million for the January to June period, compared to a loss of $19 million a year earlier
Etihad Cargo’s tonnage up 20 percent on pre-Covid volumes
The cargo and logistics arm of Abu Dhabi’s Etihad Aviation Group said it is looking to facilitate a global trade...The airline has reclaimed 90 percent of its pre-Covid destinations.
It currently services 72 network destinations across the Middle East, Asia, Europe, Africa, and the Americas.
Palm Jumeirah beckons rich with its luxury
Dubai’s Palm Jumeirah has seen its sales and prices touch newer levels during the last few years, spurred by strong...More than half of multi-million dollar homes sold in Dubai in H1 are Palm properties
The average transacted prices for residential units on the man-made island stood at 2,100 dirhams ($571) per square foot in the second quarter of 2021
UAE firms face multiple cyber attacks in a day
Cyber criminals have targeted an organization in UAE 295 times per week on an average in the last six months....The most impacted industry is the finance and banking sector with 407 weekly attacks per organization, says a report.
Most organizations had at least one employee download a malicious mobile application, which threatens their networks and data.
Dubai Airports expects robust growth for DXB in H2
DXB is currently serving 68 percent of the destinations in 94 percent of the countries on 70 percent of the...Dubai Expo 2020 and Dubai Airshow 2021 may increase passenger numbers in months ahead, says CEO.
India DXB’s top destination country by traffic volume in H1 with passenger numbers exceeding 1.9 million.
TAQA’s net income shoots up 42 percent to $790m in first half
TAQA, the Abu-Dhabi government’s energy holding company, has reported a 42 percent jump in its net income for HI 2021...Company says revenues up 11 percent year-on-year due to higher oil and gas commodity prices
The company recorded revenues of AED 22 billion, 11 percent up on the previous year, due to higher commodity prices in the oil and gas segment
Saudi banks net profit up to $2.94bn in Q2
In a sign of economic rebound in Saudi Arabia, banks in the kingdom are reporting better than expected financial results...In the second quarter of 2021, Saudi banks reported a net profit of $2.94 billion
The Saudi British Bank (SABB) saw the highest growth among nine Saudi banks that reported a rise in their quarterly incomes
Saudi Arabia issues record 478 licenses in first quarter
Following a 2018 reform in the Kingdom that allowed for a first time the 100 percent foreign ownership of companies,...In none of the quarters since 2005 has such a number of licenses been issued, according to Saudi investment ministry.
Manufacturing sector accounted for the bulk (114) of new licenses issued followed by e-commerce and construction (78 each).
MENA connectedness ranking rising: Survey
The UAE is the highest ranked in the region, and the fourth country globally, in terms of overall global connectedness.Ranks third among the world’s seven regions and is well above the global average.
UAE is the highest ranked in the region, and the fourth country globally, in terms of overall global connectedness.
ADNOC Distribution H1 net profit $313m
Higher fuel volumes, improvement in non-fuel and commercial gross profit margin and increased operational efficiencies made in the first half...The company’s fuel volumes saw progressive recovery towards pre-COVID-19 levels.
In H1 2021, the company received no objection certificates from the Saudi General Authority for Competition to acquire 35 stations in the kingdom.
