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ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Empower okays $119.1m H2 2025 dividend

The dividend is equivalent to 43.75% of paid-up capital.

Alujain widens 2025 loss

The increase in loss is due to impairment charges, weaker prices.

Masar 2025 net profit $262m

Higher land plot sales boost revenue and operating income.

Tasnee’s 2025 losses deepen

The petrochemicals' company's revenue also fell 17.7 percent.

  • Kuwait calls for border talks with Iran over gas field

    KUWAIT CITY, KUWAIT -  Kuwait reinvited Iran on Monday to talks on their sea borders after Tehran said it was ready...

    Iran and Kuwait have held unsuccessful talks for many years over their disputed maritime border area, which is rich in natural gas.

    Saudi Arabia is also a part of the dispute since it shares with Kuwait maritime gas and oil resources in the area.

  • Oil prices increase after Saudi Arabia and Russia cut crude output

    In April, several OPEC+ members opted to slash production voluntarily by more than one million bpd -- a surprise move...

    Brent crude, the international benchmark, and US counterpart WTI jumped after Riyadh extended a voluntary oil production cut.

    "It's the usual knee-jerk reaction to reports of production cuts," IG analyst Chris Beauchamp told AFP, when asked about the latest oil-price gains

  • Saudi tourism magnets: Oasis, bustling cities

    New tourism framework has been enacted, refining regulations and systems to lure investors, boost competitiveness, and elevate service quality in...

    Masmak Fortress in Riyadh, another major attraction, was once the home of the Saudi royal family. It is now a museum that tells the story of the founding of the Kingdom.

    The once-closed Kingdom has relaxed some of the country's social and religious laws, making it easier for tourists to visit.

  • Investcorp buys stake in SEC Newgate

    Investcorp buys majority stake in SEC Newgate for $100m.

    SEC Newgate's other shareholders will roll over 100 percent of their equity investment as part of the transaction.

    The deal values Milan- headquartered SEC Newgate at over US$250 million, an Investcorp statement said.

  • PIF, ADQ show highest improvement in GSWF sustainability rankings

    PIF ranked seventh with a score of 92 (on the GSR score of 100), followed by Mubadala (88), among the...

    Global SWF said it observed a very significant increase in the overall score across funds from 59 percent in 2022 to 63 percent this year.

    PIF, Abu Dhabi’s Mubadala and ADQ, Qatar’s QIA, and Bahrain’s Mumtalakat have embraced the rating tool and taken the opportunity to improve practices.

  • UAE finance ministry releases annual report, highlights achievements in 2022

    ABU DHABI, UAE -  UAE Ministry of Finance (MoF) released its annual report for the year 2022 highlighting performance, initiatives,...

    The Ministry of Finance harnesses all capabilities to support the UAE's competitiveness, aligning with the government visions and directions.

    The ministry has been keen on becoming a model and global reference for best practices and international standards in government financial work.

  • Saudi Arabia extends 1mbpd oil cut, Russia slashes exports

    The cut which first took effect for July will continue in August and "can be extended", the Saudi Press Agency...

    The move leaves daily production by the world's biggest oil exporter at approximately nine million barrels per day.

    Alexander Novak, the Russian deputy prime minister responsible for energy policy said Russia will voluntarily reduce its oil supply in the month of Aug by half a million bpd.

  • ADNOC Gas awards $1.34bn contracts

    The contracts were awarded to Petrofac Emirates and a consortium.

    This expansion project, known as the sales gas pipeline network enhancement (ESTIDAMA) program, aims to extend ADNOC Gas' existing pipeline network.

    The ESTIDAMA program comprises multiple packages, with the first package awarded in 2021 for early modification works on existing pipelines, which were completed in 2023.

  • Tesla nearly doubles deliveries, beats expectations

    From April to June, the Texas-based electric vehicle giant produced 479,700 cars -- an 85 percent increase compared to the...

    The nearly half million deliveries represent an 83 percent increase over the same period last year, and a 10 percent rise from the previous quarter

    In the US, Tesla has also benefited from its expanded eligibility in the government's $7,500 tax credit program for electric car buyers

  • ACWA Power okays dividend

    The shareholders approved to distribute an 8.3% dividend.

    The shareholders also endorsed the buyback of two million shares, to be earmarked for the employee stock incentive program

    From the date of the EGM approval, the repurchased shares will be kept no longer than seven years and then allocated to employees