Waldorf Astoria to open in Madinah by 2028
With more than 300 luxury rooms, three dining concepts, and various facilities, the hotel will merge global luxury with Madinah’s...Business
No peak oil demand ‘on the horizon’, phaseout a ‘fantasy’: OPEC
Paris, France - OPEC said Tuesday that phasing out oil was a "fantasy", as the Saudi-led cartel forecast that demand would...Business
GFH Financial Group Q2 net profit $30m
The net profit increased by 32.74 percent compared to Q2, 2022.Total income for the second quarter of 2023 was $86.83 million compared to $56.11 million for the second quarter of 2022, a rise of 54.7 percent.
Consolidated net profit for the second quarter was $32.75 million compared with $26.03 million in the second quarter of 2022, an increase of 25.8 percent.
Luxury real estate boom in Ras Al Khaimah’s waterfront districts
Ras Al Khaimah, UAE - The existing and upcoming waterfront and island developments in Ras Al Khaimah have witnessed a...Apartments for sale in Al Hamra Village have recorded an increase of over 4% in average price-per-square-foot
With an excellent ROI of 11.61%, the apartments for sale in Yasmin Village offered the best rental yields
NPCC receives award for MERAM project
The award has been received from ADCNOC Gas.The project is valued at AED 13 billion and is being led by the National Petroleum Construction Company (NPCC) in partnership with Técnicas Reunidas.
MERAM project is expected to increase the recovery of methane from ADNOC Gas's facilities.
Huawei H1 revenue at US$43.3bn
The firm works to diversify its business operations.The Shenzhen-based company has for several years been at the center of an intense tech standoff between China and the US.
Since 2019, sanctions have cut the company off from global supply chains that gave it access to US-made components and technologies.
ADNIC net profit $55.64m
The company's insurance revenue reached $582 million.Its underwriting profitability was robust with a combined ratio of 87.60% and a net insurance service profit of AED178.1 million.
Charalampos Mylonas, CEO of ADNIC, said the company was the first amongst our peers to implement IFRS 17 Insurance Contracts (IFRS 17) as of 1 Jan, 2023.
Emaar reports 15% profit growth in H1 2023
The company achieved property sales of $5.5bn in the period.Recurring revenue records growth of 11% in H1 2023, supported by increased tenant sales and robust tourism recovery
S&P, Moody's, and Fitch upgraded Emaar's Credit Ratings to BBB, Baa2 and BBB, respectively, with a stable outlook
Turkey, Saudi Arabia exports vault 630% after normalization in ties
Istanbul, Turkey - Turkey's exports to Saudi Arabia have skyrocketed by an astonishing 630 percent in the first seven months...Data compiled by the Turkish Exporters Assembly (TIM) revealed that exports to the kingdom reached an impressive $1.25 billion
Saudi Arabia's move to invest in Turkey's central bank with a $5 billion deposit earlier this year has contributed to stabilizing Turkey's economy
Saudi real estate gets non-oil boost
The Saudi commercial real estate market is set for a significant upswing in 2023, propelled by the government's vision to...With the office market seen as the most lucrative and the luxury retail sector witnessing a surge, the Kingdom's real estate landscape is undergoing a transformative phase
The Saudi commercial real estate market is on the brink of a significant expansion in 2023, driven by the government's economic diversification efforts, suggest reports
EIH gives $27.2m dividend
The company's net profit for H1 2023 stands at US$121.221 million.The company's net profit for H1 2023 stands at US$121.221 million, up from US$6.535 million in 2022
EIH's assets grow from US$21.171 million in H1 2022 to US$607.19 million in the first half of 2023
QAMCO’s H1 net declines 60.7%
Average selling prices stood at US$2,743 per metric ton.Earnings Per Share for QAMCO stands at US$0.0118 as of 30th June 2023, compared to US$0.0302 in 2022.
Decline in profits is attributed to a 24% drop in average selling prices and a slight decrease in sales volumes
