Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

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.

  • Contracts worth $2.93bn signed at Taif Investment Forum

    Taif, Saudi Arabia -- Several investment contracts for projects in Taif Governorate, worth over SAR11 billion ($2.93 billion), have been...

    The contracts stipulate, among others, the establishment of the first phase of the space science fiction city Mars War, at a value of SAR 5 billion.

    Also included is the establishment of an emergency information center, together with China Mobile company, at a value of SAR2 billion.

  • Record number of patent applications filed globally in 2022, says WIPO

    GENEVA, SWITZERLAND - Global patenting activity soared to new records in 2022, fueled by Indian and Chinese innovators, but an...

    China, the US, Japan, Republic of Korea and Germany were the countries with the highest numbers of patent filings in 2022.

    innovators from around the world submitted 3.46 million patent applications in 2022, marking a third consecutive year of growth.

  • AD Ports Group acquires 10 offshore vessels for $200 million

    Abu Dhabi, UAE -- AD Ports Group (ADPORTS) has purchased 10 offshore vessels for $200 million that will bolster offshore...

    The investment in the diversified fleet with an average age of around nine years is significantly less than the industry average.

    All ten vessels are expected to be delivered in Q4 2023, with financial consolidation taking place from Q1 2024 onwards.

  • Fertiglobe Q3 revenue of $525m

    The firm recently launched steps to optimize its cost structure.

    In the third quarter, nitrogen prices reflected tighter market balances due to record low inventory levels.

    In the medium to longer term, the nitrogen outlook is favorable, with limited supply additions over the next several years.

  • Aramco profits down

    The oil giant posted a 23% drop in profits for Q3 to US$32.58bn.

    The drop from $42.43 billion last year to $32.58 billion "principally reflects the impact of lower crude oil prices and volumes sold", the firm said

    It follows a drop in net profit for Aramco, one of the world's richest companies, of 19.25 percent in the first quarter and 38 percent in the second quarter compared to 2022

  • UBS posts bigger loss

    Last year, the bank took over its Swiss rival Credit Suisse.

    Switzerland's largest bank UBS was in March strong-armed by Swiss authorities into a $3.25-billion takeover of Credit Suisse, to keep its closest domestic rival from going under

    UBS said that the third quarter included integration-related expenses of $2 billion, adding that "we have now stabilized Credit Suisse and continued to grow our franchise"

  • Saudi Real Estate Market records transactions worth $14.92bn

    Riyadh, Saudi Arabia -- More than 70,000 transactions worth SAR 56 billion ($14.92 billion) have been conducted on Saudi Arabia's...

    The traded real estate areas amounted to about 550 million square meters (sqm), Argaam reported. Real Estate Market provides its services around the clock.

    Launched two months ago, It allows easy buying and selling of properties, in addition to helping beneficiaries to leverage mortgage services electronically.

  • Batelco launches mobile peering service in MENA region

    Manama, Bahrain - Batelco, part of the Beyon Group, announces its latest service “Mobile Peering” for members of the platform....

    The many benefits of this service include enhanced network efficiency and reduced latency by establishing direct connections between mobile providers

    Exchanging mobile traffic directly with other mobile networks results in a better roaming experience for the mobile operators’ end users

  • OpenAI sees a future of AI ‘superpowers on demand’

    Dreams of the benefits of generative AI -- along with fears of the technology's risks -- have been hot topics...

    OpenAI is rolling out the ability to create custom "agents," called "GPTs," capable of handling specific tasks such as business negotiation advice

    Later this month, OpenAI will launch a GPT "store," and plans to add a way for developers to make money based on how many people use their GPTs

  • Agthia Group revenue soars

    It posted an 11% jump in net revenue to US$890 million.

    Its net profit jumped 12.7% year-on-year to $56 million, with the faster rate of growth relative to revenue reflecting EBITDA margin expansion

    The company holds cash and equivalents of $136 million with net debt to EBITDA ratio of 1.4x (net debt of $245 million) down from 2.3x