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Meraas awards construction contract

The $272m contract has been awarded for Bluewaters Bay.

SIB’s 2024 profit $272m

The profit surpassed AED 1 billion for the first time in bank's history.

AD Ports to invest in Kazakh port

Under the deal, AD Ports Group owns 51% stake.

PIF acquires stake in Saudi Re

The acquisition was made by way of a capital increase.

ADNOC Gas awards contracts

The $2.1bn contracts are aimed at enhancing LNG supply infrastructure.

  • Saudia records 50 percent growth in operations during Umrah season

    JEDDAH, SAUDI ARABIA - From the start of the month of Muharram until the end of Rabi' Al-Awwal, Saudia Airlines...

    Its commitment to operate during the Umrah season for the year 1445 Hijri aligns with Saudia’s dedication to contribute to the Saudi Vision 2030 goals.

    Saudia planned to provide additional charter flights during the current Umrah season, aiming to transport more than 100,000 Umrah performers through new stations.

  • Meta releases advertisement-free plan for users in Europe

    "To comply with evolving European regulations, we are introducing a new subscription option in the EU, EEA (European Economic Area)...

    Meta said European users can subscribe for a fee of 9.99 euros ($10.50) a month on the web, or 12.99 euros on mobile phones using iOS and Android systems

    The company has taken the decision after a series of tougher European Union rules intended to rein in big tech, including the General Data Protection Regulations

  • Britain grants 27 new oil and gas exploration licenses in North Sea

    London, United Kingdom - Britain on Monday awarded 27 new licenses for oil and gas exploration in the North Sea as...

    The Conservative government has argued that drilling for new oil and gas is necessary to bolster Britain's energy security.

    Prime Minister Rishi Sunak recently softened policies aimed at the UK achieving net zero carbon emissions by 2050.

  • Borouge reports 22% Q3 2023 net profit

    The company has issued a dividend of $1.3 billion.

    Borouge’s Value Enhancement Programme delivered a $420 million positive impact in the first nine months of 2023

    The company has issued a dividend of $1.3 billion for the 2023 financial year, which equates to a 6.3% current dividend yield

  • Chinese BYD posts record Q3 profit

    The third-quarter profit of $1.42bn is its highest-ever single-quarter earnings.

    The figure was in line with BYD's previous forecast of between 9.55 billion yuan and 11.55 billion yuan in quarterly earnings.

    Electric vehicle demand has soared in recent years in China, which is the world's biggest producer of greenhouse gases in absolute terms.

  • SABIC Agri-Nutrients profit falls

    SABIC Agri-Nutrients Q3 net profit fell 55% to $280 million.

    Revenue fell 40 percent year-on-year (YoY) to US$712 million (SAR2.67 billion) in the three months ended September 30, 2023.

    Net profit dropped 66 percent to US$714 million (SAR 2.68 billion) in the first nine months of 2023 compared to US$2 billion a year ago.

  • AlUla signs pact with Six Senses

    Six Senses AlUla will open in Saudi Arabia in 2027.

    Luxury hotel Six Senses AlUla will span across 1,200,000 square meters and will be built within a natural oasis adorned with lush palm groves.

    It will feature 100 guest villas and 25 residences, which will be designed to seamlessly integrate with AlUla's breathtaking natural landscape.

  • stc Group posts 9-month revenue

    stc's revenue was $14.5 billion in January-September 2023.

    Gross Profit for the period of 2023 reached US$7.7 billion (SAR28,875 million) with an increase of 1.8 percent compared to the same period last year.

    Earnings before Interest, taxes, zakat, depreciation and amortization for the period reached $5 billion with a decrease of 2.35 percent compared to Jan-Sept 2023.

  • Mulk, Ajman Holding form JV

    Collaboration in the T10 Cricket League key element of the JV.

    The joint venture will also promote the Alubond range of products, Mulk International’s premier brand and the world’s largest metal composite panel manufacturer.

    Mulk International, has production facilities of Alubond and operations in Asia, Europe, Africa and the Middle East with a sales network of more than 100 countries. 

  • Borouge Q3 net profit up 22%

    The rise in net profit was driven by 16% increase in sales.

    The company has committed a dividend of $1.3 billion (15.9 fils per share) for the 2023 financial year, which equates to a 6.3 percent current dividend yield.

    Third-quarter revenue increased 6 percent quarter-on-quarter, reaching $1.5 billion, and declined 11 percent year-on-year. On a year-on-year basis, net profit declined by 9 percent