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Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.
  • EVIQ to set up infra for EVs in KSA

    PIF, SEC JV's brand name for EV infrastructure is EVIQ.

    EVIQ will support electric vehicle adoption in Saudi Arabia by building best-in-class infrastructure and creating a nationwide network of fast-charging hubs.

    This will help enable and encourage the use of electric vehicles across Saudi Arabia, in line with the sustainability goals of the Kingdom.

  • Turkey halts joint-energy projects with Israel over Gaza war

    Dubai, UAE-- Turkey has suspended joint-energy projects with Israel over the latter's invasion and bombardment of the Gaza Strip, according...

    The Turkish energy minister said that it would be "inappropriate" to talk about the implementation of projects with Israel under such conditions

    Israel has blocked access to water, food, and electricity in Gaza, plunging the coastal area into a humanitarian crisis as the death toll crosses 11,000

  • Saudi Arabia boosts ‘investment relations’ with African countries

    Riyadh, Saudi Arabia-- Saudi Arabia's Ministry of Investment has held a number of roundtable meetings with several African countries on...

    Saudi Arabia signed a memorandum of understanding with Mauritania to encourage investment flows between the two countries

    The kingdom also took steps to enhance economic ties with Chad and Somalia, enabling the private sector to benefit from opportunities

  • UAE exhorts UNESCO members to join COP28 ‘climate efforts’

    Paris, France-- The UAE has made a fervent appeal to members of the United Nations Educational, Scientific and Cultural Organization...

    The minister made the remarks at the 42nd session of the General Conference of UNESCO General Policy Debate, held in the UNESCO headquarters in Paris

    He underscored the UAE's efforts in the field of environmental sustainability and its keenness to enable learners and equip them for the “digital age we live in”

  • Saudi delegation takes part in Riyadh Expo 2030 symposium in Paris

    PARIS, FRANCE -  A high-level Saudi delegation attended the Riyadh Expo 2030 Symposium, on the outskirts here, hosted by the...

    The symposium serves as the final stop in the Kingdom's journey of its candidacy bid to host the World Expo in 2030.

    The final voting process for the host country will take place during a secret ballot on November 28, 2023, at the 173rd General Assembly of the BIE,

  • ADNOC Drilling, Alpha Dhabi set up JV

    The two companies will invest up to US$1.5 billion.

    ADNOC Drilling will own 51 percent of the JV with Alpha Dhabi holding 49 percent, bringing together a market-leading drilling and OFS expert.

    This will further develop and scale up ADNOC Drilling’s integrated drilling and oilfield services (OFS) offering and enhance operational efficiencies.

  • Qatar records 17-percent jump in building permits issued in October

    Doha, Qatar--Qatar's Planning and Statistics Authority has given out 769 building permits in various municipalities in the country during the...

    The jump was seen in the majority of municipalities: Umm Salal (105%), Al Khor (47%), Al Shamal (30%), Al Sheehaniya (22%), Al Thakhira (21%), Al Wakra (20%), Doha (3%)

    Data on building permits and completion certificates holds special significance as an indicative measure of the performance of the construction and building sector

  • Saudi Arabia, South Africa sign protocol for import of cattle, sheep and goat meat

    Riyadh, Saudi Arabia--The Saudi Food and Drug Authority (SFDA) and South Africa’s Department of Agriculture, Land Reform and Rural Development...

    The two sides signed the protocol on the sidelines of the Saudi-Arab-African Economic Conference held in Riyadh

    It looks to accredit the regulatory body in South Africa by the SFDA to export cattle, sheep and goat meat to the kingdom

  • Dubai witnesses green transit revolution

    Dubai is actively implementing climate adaptation strategies and technologies in transportation and infrastructure to mitigate climate change effects and enhance...

    By the end of the decade, the emirate aims to have 10% of public buses run on hydrogen or electric powered, ramping up to 20% by 2035, 40% by 2040, 80% by 2045

    According to Sandalkhan, of BCG, Dubai aims to set a global standard in eco-friendly transportation and RTA's 2050 Zero-Emissions plan reflects that ambition

  • Saudi EXIM Bank signs deals with African banks and institutions worth $185m

    Riyadh, Saudi Arabia - Saudi EXIM Bank has signed multiple agreements and memoranda of understanding (MoUs) with African banks and...

    Saad Al-Khalb, the CEO of the Saudi EXIM Bank, signed Line of Credit agreements worth $185 million to finance Saudi exports of goods and services

    The agreements aim to support African economies, enhance trade and economic exchange between Saudi Arabia and African countries