Al Rajhi Bank 9M profit up

Revenue growth lifts earnings despite higher provisions

Mashreq prices Dim Sum bond

UAE bank raises offshore renminbi funding

Aldar buys Sharjah homes

Deal adds 1,100-plus rental units

SIB profit up 9%

Higher income from financing and investment drive growth.

Masar signs $82m land deal

Agreements signed with Abdulmohsin Al Rossais & Sons Group.

  • DUBAI, UAE -  The UAE is poised to play a pivotal role in global trade with its exports projected to...

    The report forecasts the global trade industry to reach US$32 trillion by 2030, with a projected growth rate of five percent.

    The report said that corridors anchored in Asia, Africa, and the Middle East are expected to outpace the global trade growth rate.

  • Riyadh, Saudi Arabia -- Saudi Arabia's merchandize exports decreased by 14.6 percent in Q1 2023, compared to Q1 2022, a...

    The value of exports amounted to SAR 313.5 billion ($83.6bn) in Q1 2023, down from SAR 367.1 billion ($97.86bn) in Q1 2022.

    The decrease originated mainly from oil exports, which fell by SAR 43.1 billion ($11.47bn) or 14.9 percent in the same period.

  • Dubai, UAE -- First Abu Dhabi Bank (FAB) has raised $600 million from an offering of a five-year bond, which...

    The green bond was upsized to $600 million from the initial $500 million after the orderbook was oversubscribed 2.8 times.

    A substantial 85 percent of the allocation went to international investors, the highest achieved by a MENA issuer in 2023.

  • The Letter of Intent represents a strategic partnership focused on the development, maintenance, and operation of a charging station factory in the UAE. (WAM)

    ABU DHABI, UAE - UAE Ministry of Industry and Advanced Technology (MoIAT) has signed a Letter of Intent (LoI) with...

    According to the Global Electric Mobility Readiness Index (2022), the demand for electric vehicles in the UAE has been rising over the past few years.

    The report shows the UAE, which has more than 300 charging stations, has one of the largest charging-station-to-vehicle-ratios in the world.

  • The state-owned hydrocarbon giant will supply 1.5 million tons annually starting in January 2026, the Qatari firm said at the...

    QatarEnergy chief said the gas could come from the North Field project which holds the world's biggest natural gas reserves and extends beneath the Gulf into Iranian territory.

    QatarEnergy currently supplies Bangladesh with more than 3.5 million tons of LNG per annum, Kaabi said. Qatar is one of world's top LNG producers.

  • Dubai, UAE -- The Investment Corporation of Dubai (ICD) has posted a net profit of AED 36.1 billion ($9.8 billion)...

    Revenues increased by 58 percent to AED 267.4 billion due to a significant surge in travel and tourism activities reflected in the transportation and Other segment.

    Banking and financial services, the largest contributor this year, generated AED 15.3 billion of net profit.

  • PARIS, FRANCE -  Renewable power capacity will grow by a record number this year as high fossil fuel prices and energy...

    Global additions of renewable energy capacity are expected to rise by 107 gigawatts to more than 440 GW in 2023.

    Newly installed solar and wind capacity is estimated to have save EU electricity consumers $107 billion between 2021-2023.

  • Riyadh, Saudi Arabia - The number of SMEs in Saudi Arabia increased by 4.8 percent in the first quarter of...

    Riyadh, the capital city of Saudi Arabia, is playing a crucial role in fostering a business-friendly environment and is home to over 41% of the country's SMEs

    One of the significant contributors to the growth of SMEs in Saudi Arabia was the Biban 23 forum, a global entrepreneurship event held in Riyadh in March

  • Dubai, UAE -- A total of 137 companies operating from the UAE were fined AED65.9 million for failing to comply...

    The Ministry fined these companies, which are operating in the UAE's non-financial business or professions (DNFBP) sector, after carrying out inspection of 840 companies.

    The Ministry of Economy revealed that a total of 831 violations committed by violators were found, including failure to adopt necessary measures.

  • Shares in UAE state oil company ADNOC's logistics unit soared 50 percent as they hit the market in a $769...

    ADNOC Logistics and Services was heavily oversubscribed even after the offering was expanded from 1.1 billion to more than 1.4 billion shares

    The shares rose to over 3 dirhams ($0.82) on the Abu Dhabi stock exchange, up from the launch price of 2.01 dirhams, which was towards the top of its range