ADNOC Distribution 2024 net profit down 7%
Minus UAE corporate tax, it would have grown by 2.4% to $725mCompany News Business
UAE announces top-up tax for multinational enterprises
Abu Dhabi, UAE - The Ministry of Finance has announced the issuance of Cabinet Decision No. 142 of 2024 on...Business
EDGE Group, Indra form JV
It will make next-generation radar systems in UAE.The new business entity will be granted prime rights for current and future non-NATO and non-EU orders awarded to Indra.
The JV will place a strategic focus on the continued development of sophisticated technologies, innovation and global market.
Salik revenue soars to US$574m
Toll usage revenue rose 11.7% YoY to US$502million.The total number of trips made through Salik’s eight toll gates grew by 10 percent over the course of the year.
Salik’s registered active accounts increased 16.0 percent YoY to approximately 2.4 million at the end of 2023.
Dubai International Boat Show helps in marine business
DUBAI, UAE – Dubai International Boat Show has wrapped up following a hugely successful week of high-value boat sales, important...The exhibition is recognized as one of the most influential boat shows in the world.
The exhibition has wrapped up following a hugely successful week of boat sales.
Qatar and Egypt hold talks to ramp up civil aviation cooperation
Cairo, Egypt-- Qatar and Egypt have discussed enhancing ties in the field of civil aviation between the two countries.In this...The two countries signed a memorandum of understanding to increase air transport rights to Cairo International Airport
The agreement will facilitate the opening of new avenues of cooperation in the field of air transport between the two countries
Middle East emerges as a major player in global CEO appointments: report
Dubai, UAE - The Middle East has emerged as a prominent player in global CEO appointments, securing 68 out of a...Companies in the region boasting the highest global percentage of CEOs with prior C-suite experience, standing at an impressive 90 percent
Surprisingly, the Middle East also leads globally in terms of CEO age, boasting the youngest average CEO age at 54.5 years
89% of Saudi CEOs hopeful of kingdom’s economic growth over next 12 months
Riyadh, Saudi Arabia - About 89% of CEOs in Saudi Arabia are optimistic about the country's economic growth over the...A remarkable 71% of Saudi CEOs have observed a 5% or more increase in market share over the past three years, surpassing the global average of 49%
The Vision 2030 initiative, with its focus on reducing oil dependency, has propelled Saudi Arabia to the 17th largest global economy by GDP size in 2022
DIEZ profit jumps 64.6% in 2023
The market value of its net assets crossed US$5.66bn.DIEZ reported growth in earnings before interest, taxes, depreciation, and amortisation by 49.2 percent, alongside an 8.1 percent increase in total revenues
Economic zones affiliated to DIEZ have experienced substantial growth across six key sectors, which collectively represent 95 percent of total companies hosted.
Iraq economy likely to grow this year, says IMF
BAGHDAD, IRAQ – Economic growth of the country is projected to continue amid fiscal expansion, an International Monetary Fund (IMF)...Medium-term vulnerabilities to oil price volatility have increased significantly, the IMF said.
Growth in the non-oil sector has rebounded strongly in 2023 while inflation has receded.
GAS, SPPC ink two contracts
The duration of each contract is of 22 months.The two contracts entail the engineering, procurement and construction of Qassim and Taibah gas pipelines.
The first contract is valued at $90 million (SAR341.09 million), while the second is worth $68 million (SAR256.1 million).
Ooredoo, Nokia sign MoU
It will commit the two to sustainable innovation.The partnership between the two companies stems from their collaborative vision to foster a more environmentally-conscious industry
The CEO of Ooredoo said that the MoU is a cornerstone in their journey towards achieving the goals of Qatar’s National Vision 2030
