Salini awarded $600m contract for 400 retail units in Diriyah Square
Riyadh, Saudi Arabia -- Diriyah Company has announced the award of a major new $600 million (SAR2.249 billion) contract for...Business
Demand for crude will continue to expand through 2050, says OPEC
In its latest annual report on the outlook for oil demand, OPEC sees global oil demand rising by 18.6 percent...Business Economy Energy
ADNOC Gas to pay $3.41bn dividend
It includes $1.7 billion scheduled for distribution in Q2 2025.It reported a record adjusted net income of $5 billion, up 13 percent year-on-year, and strong EBITDA growth of 14 percent year-on-year to $8.65 billion.
ADNOC Gas' full-year 2024 results demonstrate the success of its disciplined strategy, unveiled in November 2024, the company said.
BYD surpasses Tesla with record revenue
The Chinese EV giant's net profit was $5.55 billion for 2024.The Shenzhen-based firm has emerged in recent years as the clear leader in China's highly competitive EV market, which is the largest in the world.
BYD's publication of strong results comes after Tesla announced lower than expected profits for the fourth quarter of 2024 in late January.
Al Ansari approves $85m dividend
This is approx 78% of the company's net profit after tax.Al Ansari Financial Services is preparing to finalize the acquisition of BFC Group Holding for AED 735 million, a move that will significantly expand its regional footprint.
Post-acquisition, the company will emerge as the largest exchange company in Bahrain and the third largest in Kuwait.
Perplexity eyes TikTok buy
TikTok faces a deadline to divest from its Chinese owner or be banned in the US.TikTok temporarily shut down in the United States and disappeared from app stores as the deadline for the law approached, to the dismay of millions of users.
Trump suspended its implementation for two-and-a-half months after beginning his second term in January, seeking a solution with Beijing.
Trump awards next-generation F-47 fighter jet contract to Boeing
US President Donald Trump announced Friday that Boeing has been awarded a major contract for the Air Force's high-tech next-generation...The contract is aimed at continuing the development of the replacement for the F-22 stealth warplane
The announcement is a boon for Boeing, which faced a difficult last year in which it struggled with a lengthy labor strike and safety problems
Heathrow to resume some flights after power station fire
London's Heathrow Airport said it would resume "some flights" later Friday after a fire at a power station grounded planes...The electricity substation fire late on Thursday shut down the airport, leading to the cancellation or diversion of hundreds of flight
Around 230,000 passengers use Heathrow every day -- 83 million a year -- making it one of the world's busiest airports
DEWA okays $843m in H2 2024 dividend
DEWA had posted a net profit after tax of $1.96 billion for the full year 2024.It reported consolidated full-year revenue of AED 30.98 billion and EBITDA of AED 15.73 billion for 2024.
It said the consolidated annual revenue grew by 6.17 percent, primarily driven by rising demand for electricity, water, and cooling services.
Chinese electric car maker BYD aims for Europe boost
Chinese carmaker BYD on Thursday vowed to conquer Europe with a new compact electric model and super-fast charging capability to...The group has launched major advertising campaigns including sponsorship of last year's European Championships in football
The European Union has imposed a 17-percent tariff on Chinese electric vehicles to make up for Chinese state subsidies
Saudi table egg production crosses 8 billion, achieves 100% self-sufficiency
Riyadh, Saudi Arabia -- Saudi Arabia's poultry sector has reached complete self-sufficiency in table egg production, with output surpassing 8...Saudi agriculture ministry said the kingdom's egg production not only meets domestic demand but also generates a surplus, reinforcing national food security.
The ministry also emphasized its commitment to enhancing food quality, safety, and availability across local markets.
ADQ and US equity firm ECP to invest $25bn in data center energy projects
Dubai, UAE -- Abu Dhabi sovereign wealth fund ADQ has partnered with the American private equity firm Energy Capital Partners...Though the partnership’s primary focus will be the USA, a portion of the capital may also be allocated towards opportunities in selected other international markets.
The combined initial capital contribution from the partners is expected to amount to $5 billion.
