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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.

  • 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

  • Saudi Ministry of Investment and Agility sign MoU to boost healthcare sector

    Riyadh, Saudi Arabia-- Saudi Arabia and Agility have signed a memorandum of understanding (MoU) to introduce cutting-edge health technology and...

    The agreement includes the potential to widen digital health services and localizing the supply chain for innovative new medical technologies

    The MoU looks to widen people's access to preventative health services to combat chronic diseases such as cardiovascular disease and breast cancer

  • HSBC Q3 profit up

    Its pre-tax profit more than doubled to US$7.7bn.

    The banking giant reported third-quarter revenue grew 40 percent to $16.2 billion

    It announced a new $3bn share buyback program, after two similar initiatives this year

  • ‘ESG, AI and robotics remain FII’s investment focus’

    FII Institute remains committed to innovative and sustainable technology investments, Anthony Berkley, ACT Director and Head of Investments, tells TRENDS.

    FII Institute remains committed to innovative and sustainable technology investments, Anthony Berkley, ACT Director and Head of Investments, tells TRENDS.

    Its portfolio includes pioneering firms in AI and robotics, reflecting a focus on impactful solutions in critical areas like sustainability, health, and education.

  • Hamriyah Freezone and Amazon UAE sign lease agreement for new logistics center

    Sharjah, UAE--Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics centre which will...

    The agreement supports Amazon UAE’s commitment to investing across the country in order to shore up economic growth and innovation

    The freezone's infrastructure and location together with Amazon's technology are expected to boost customer convenience and reliability

  • Saudi Exchange to launch Single Stock Options contracts

    Riyadh, Saudi Arabia – The Saudi Exchange on Sunday announced its intention to launch the Single Stock Options (SSOs) contracts,...

    SSOs contracts will be available to trade on 27 November 2023, enabling local and international investors to hedge and manage portfolio risks effectively

    The contracts will be cleared and settled by the Securities Clearing Center Company (Muqassa) in line with international best practices