Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe

AD Ports to invest in Kazakh port

Under the deal, AD Ports Group owns 51% stake.

PIF acquires stake in Saudi Re

The acquisition was made by way of a capital increase.

ADNOC Gas awards contracts

The $2.1bn contracts are aimed at enhancing LNG supply infrastructure.

ADNOC L&S buys stake in Navig8

The company will acquire the remaining stake in mid-2027.

DAE to acquire Nordic Aviation Capital

The terms of the transaction have not been disclosed.

  • Stable credit conditions make GCC firms resilient

    Gulf companies benefit from supportive credit environments, ensuring resilience in 2024 despite global economic challenges and geopolitical risks, says a...

    Gulf companies benefit from supportive credit environments, ensuring resilience in 2024 despite global economic challenges and geopolitical risks, says a report.

    GCC entities are poised to handle higher refinancing and interest costs through improved performance and non-oil growth, maintaining stable debt levels, it adds.

  • Italy begins probe into OpenAI’s new video tool Sora

    ROME, ITALY – The European country's data protection watchdog - Italian Data Protection Authority - said on Friday it has launched...

    The Italian Data Protection Authority said it was concerned over “the possible implications for the processing of personal data of users.”

    The watchdog said OpenAI -- which also makes chatbot ChatGPT and the image-generating DALL-E -- has 20 days to provide information.

  • Saudi Tourism Authority, Trip.com Group sign global agreement

    BERLIN, GERMANY – Saudi Tourism Authority (STA) and Trip.com Group have announced a significant global partnership, which will drive greater...

    The joint effort aims to bring over 350 thousand additional tourists to Saudi over the course of the agreement.

    The partnership is vital as it coincides with exceptional growth and transformation in the global tourism industry.

  • ADCB approves cash dividends worth US$1.1bn  

    ABU DHABI, UAE – Abu Dhabi Commercial Bank (ADCB) has approved the Board of Directors proposal to distribute a cash...

    ADCB’s physical-cum-virtual 40th Annual General Assembly meeting approved the decision.

    The Board of Director’s proposal means distributing cash dividend of $0.15 (AED0.56) per share.

  • Binghatti lists sukuk on Nasdaq Dubai

    The debut issue of the company is valued at US$300m.

    The company's listing sets a new standard as the first real estate benchmark USD-denominated sukuk from MENA in 2024

    Nasdaq Dubai has maintained its position as a leading exchange for fixed income listings across the MENA region

  • Burjeel Holdings net profit up

    The company’s 2023 annual revenue rises to US$1.2 billion.

    The group continued to implement its geographic expansion strategy with the launch of the PhysioTherabia rehabilitation network in Saudi Arabia.

    It opened eight new centers in March 2024 in Riyadh, Jeddah, Dammam, Khobar, and Yanbu which significantly expanded its geographical reach.

  • Saudi Arabia transfers 8% Aramco stake to PIF-owned firms

    Saudi Arabia said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's...

    The transfer was "a continuation of Saudi Arabia's long-term initiatives to boost and diversify the national economy and expand investment opportunities".

    The move brings the state's ownership of Aramco shares to 82.19 percent.

  • Nationwide offers to buy Virgin Money

    Nationwide has offered US$3.7 billion for Virgin Money.

    Nationwide management believe the transaction will broaden and deepen its products and services faster than could be achieved organically.

    The deal remains subject to due diligence and approvals from Virgin Money shareholders as well as Nationwide's borrowers and depositors.

  • Lufthansa profit spikes in 2023

    Its net profit shot up to US$1.82bn as demand booms.

    The group reported a net profit of 1.67 billion euros ($1.82 billion), compared to 791 million euros in 2022

    The profit was slightly below an estimate of about 1.8 billion euros by analysts surveyed by financial data firm FactSet

  • Saudi tech show LEAP 2024 to close on ‘record-breaking’ note

    Riyadh, Saudi Arabia--The biggest tech show in the Middle East, LEAP 2024, hosted by Saudi Arabia in Riyadh, is preparing...

    The tech show featured hundreds of speakers, more than 600 startups, besides 170,000 participants from around 180 countries

    HONOR, Chinese consumer electronics brand, announced regional expansion plans with an investment of US$100 million