Saudi RCU begins rock excavation for Sharaan Resort in AlUla
ALULA, SAUDI ARABIA – The Royal Commission for AlUla (RCU) has marked a significant milestone in the development of the...Arts & Culture Business Culture & Society Tourism
Türkiye’s traditional realty charm: Alive or fading?
Driven by its strategic location, cultural heritage, and government incentives, Türkiye's real estate market remains a focal point for regional...Business
‘Barbie’ retains top spot at N.American box office for fourth week
Los Angeles, United States - Warner Bros.' hit "Barbie" dominated North American box offices for a fourth consecutive week, industry estimates...Industry watcher Exhibitor Relations estimated this weekend's haul for "Barbie" at $33.7 million, bringing its domestic total to $526 million.
Starring Margot Robbie as the iconic doll and Ryan Gosling as boyfriend Ken, "Barbie" has earned a whopping $1.2 billion worldwide.
ADNOC, Tabreed say breakthrough in project to harness geothermal energy
ABU DHABI, UAE – ADNOC and the National Central Cooling Company (Tabreed) on Monday announced a breakthrough following the conclusion...The landmark project, the first in the Gulf region, is set to decarbonize the cooling of buildings in Masdar City.
The project will further diversify the UAE’s energy mix and support the National Energy Strategy 2050.
RSG, Zain build carbon-neutral 5G network
The network runs on clean energy from world's largest carbon-neutral grid.This is made possible through the utilization of more than 750,000 solar panels, as well as through the implementation of purpose-designed towers for this network.
RSG is the multi-project developer behind the ambitious regenerative tourism destinations, The Red Sea and Amaala.
Oil prices slide 1% on strong dollar, China economy worries
Dubai, UAE--Oil prices declined more than 1% on Monday as concerns about China's faltering economic recovery and a stronger dollar...U.S. West Texas Intermediate crude was at $82.12 a barrel, down 1.3%, while Brent crude futures fell $1.07, or 1.2%, to $85.74 a barrel
Prices retreated as the U.S. dollar index extended gains after a slightly bigger increase in U.S. producer prices in July lifted Treasury yields
TAQA H1 net income $3.67bn
The group revenues were AED 26.8 billion, 5% higher than H1,2022.The higher revenues were attributed primarily to higher pass-through bulk supply tariffs and transmission use of system within the Transmission and Distribution segment.
The company announced second interim cash dividend for the year of 0.65 fils per share (approximately AED731 million).
GIS profit climbs in H1
Its net profit jumped to US$77.19m as against US$37.63m.Its earnings per share(EPS) amounted to QR 0.151 as of 30th June , 2023 as against EPS QR 0.074 for the same period in 2022
In February this year, GIS reported a net profit of $79.67 million for the year ended December 31, 2022, with an earnings per share of QR0.156
Saudi Arabia’s NDMC issues local sukuk worth US$9.57 billion
Riyadh, Saudi Arabia--The Saudi National Debt Management Center (NDMC) has issued new sukuk worth $9.57 billion under the Local Saudi...NDMC said in a statement that such a step is part of its initiative to activate its role in managing its public debt commitments
The sukuk issuance will be done in four tranches of $2 billion, $3.86 billion, $2.88 billion and $853 million, said NDMC
Ithmaar Bank H1 profit up
Its net profit rose to US$4.14m as against US$3.96m last year.Its total assets were $5.85 billion at the end of June 2023, 4.6 percent lower than $6.14 billion as on 31 December 2022
The bank said total owners' equity rose to $100.21m at the end of June 2023, a 4.3 percent increase from $96.06m as on December 31, 2022
UAE commends UN for successful oil transfer from decaying Yemen tanker
Abu Dhabi, UAE--The UAE has applauded the UN for the successful unloading of oil from the deteriorating tanker, FSO Safer,...The UAE's Ministry of Foreign Affairs praised the efforts of the UN, its secretary general and the donor nations for preventing the disaster
It cost some $143 million to transfer the oil from the stricken tanker to a new vessel, much lower than $20 billion in cleanup cost in the event of a spill
Use of technology, innovation crucial in daily life
"Multi-carrier aggregation is a proven method to enhance both the peak and average throughputs of wireless networks. This deployment underscores...du introduces multi-carrier aggregation, promising three times faster data speeds
Home wireless services, introduced by du in 2021, set to benefit from this innovation
