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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.

Borouge 2024 net profit $1.24bn

The company said it will maintain a $1.3bn dividend for 2025.

  • Turkish Airlines profits soar

    In December, the airline ordered 230 Airbus planes.

    The airline posted revenues of $20.9 billion last year, up 13.6 percent on 2022's figure

    The airline is controlled by the country's wealth fund, which owns 49.1 percent of shares

  • Rising threat: DDoS attacks demand proactive defense

    "Threat actors can employ artificial intelligence (AI) and machine learning (ML) algorithms to identify vulnerabilities and adapt their tactics in...

    DDoS attacks have evolved from simple nuisances to highly sophisticated and coordinated assaults, posing a significant threat to online businesses

    Today's attackers use various techniques, including amplification attacks, which exploit internet protocol vulnerabilities to multiply attack traffic, making mitigation challenging

  • Russia becomes world’s fourth-biggest LNG producer, says PM

    MOSCOW, RUSSIA – Prime Minister Mikhail Mishustin said the country became the world’s fourth-biggest LNG producer last year.The Russian Prime...

    Mikhail Mishustin said that the volume of LNG exports rose almost three-fold in six years.

    In January - February 2024, natural gas production in Russia increased by 11.3 percent year-on-year.

  • EasyLease buys stake in United Trans

    This helps EasyLease expand its presence in mobility sector.

    United Trans has been at the forefront of transforming the regional transport spectrum.

    The company collaborates with major global organizations across all modes of transport.

  • flynas receives 50th jetliner out of 120 Airbus A320neo ordered

    RIYADH, SAUDI ARABIA – flynas, the Saudi air carrier and the leading low-cost airline in the Middle East and the...

    The deal with Airbus was a strategic step for flynas, consolidating its position as a leading low-cost airline in the Middle East.

    The company is moving forward in its plan to double the fleet size after getting approval to purchase 250 aircraft.

  • Iran-Turkey trade expands to US$930m in first two months of 2024

    Tehran, Iran--The trade exchanges between Iran and Turkey in the first two months of 2024 reached $930 million, showing a...

    According to a report, Turkey’s exports to Iran in January and February reached $580 million, recording a 23 percent increase

    Turkey’s imports from Iran however registered a 22 percent decline and fell from $450m in January-February 2023 to $350m

  • Central Bank of Bahrain Sukuk Al Ijara oversubscribed by 186 percent

    Manama, Bahrain--The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al...

    As per reports, subscriptions worth $128.67 million were received for the $69.14 million issue, which carries maturity of 182 days

    The expected return on the issue, which begins on April 4 and matures on October 3, is 5.90%, equivalent to the previous issue

  • Tesla reports drop in auto sales

    The decline was in part due to a weak sales market in China.

    In explaining the drop, Tesla pointed to a hit from the production ramp-up of an updated Model 3 at its California factory and plant shutdowns due to shipping diversions

    Financial services firm Morningstar said the decline also "points to a slowdown in demand for Tesla's vehicles, as the company's competitors may have cut price more than Tesla

  • FAB, Microsoft forge partnership

    The two will work to develop AI-based banking capabilities.

    The new AI Innovation Hub will focus on innovation, sustainability, and customer experience

    It will accelerate the adoption of new innovations and AI technology into financial services

  • Google to delete incognito search data

    The suit filed in June of 2020 sought US$5bn in damages.

    The lawsuit, filed in a California court in June 2020, claimed Google's practices had infringed on users' privacy by intentionally deceiving them with the incognito option

    The settlement calls for no cash damages to be paid but leaves an option for Chrome users who feel they were wronged to sue Google separately to get money