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AD Ports Group 2024 net profit $484m

The Group's revenue increased 48 percent year-on-year.

TAQA net income $1.93bn in 2024

The company's revenues increased 6.7 percent year-on-year.

ADNOC L&S 2024 net profit $756m

The company's revenue increased by 29 percent to $3.54 billion.

ADNOC Distribution 2024 net profit down 7%

Minus UAE corporate tax, it would have grown by 2.4% to $725m

Maaden raises $1.25bn in sukuk offering

The Sukuk were offered in a five-year and a 10-year tranche.

  • NatWest profit soars 32%

    The British bank's net profit jumped to US$5.5bn in 2023.

    The bank said that Paul Thwaite would become permanent chief executive in the wake of boardroom turmoil

    Thwaite takes over from Alison Rose, who resigned as CEO in July after admitting a "serious error of judgment"

  • Mawani completes Red Sea Gateway Terminal at Jeddah Islamic Port

    Riyadh, Saudi Arabia - The Saudi Ports Authority, Mawani, announced the completion of the Red Sea Gateway Terminal at Jeddah...

    The gateway terminal has larger capacity, is equipped with the Optical Character Recognition (OCR) feature, and uses 146 different types of equipment

    The development of Jeddah Islamic Port’s North Container Terminal is included in the Build-Operate-Transfer (BOT) contract

  • Tenaris sets up base in Abu Dhabi

    The global pipe maker invested US$60m in the business.

    The new complex is expected to generate technical and administrative job opportunities for UAE nationals

    The newly built complex represents the first of its kind in the UAE to thread full-length premium connections

  • AI in the Middle East: From potential to profit

    The region is making significant strides in integrating AI into various sectors, promising substantial productivity gains and innovation, a latest...

    The region is making significant strides in integrating AI into various sectors, promising substantial productivity gains and innovation, a latest report points out.

    The Boston Consulting Group report reveals that 61% of Middle Eastern executives anticipate over 10 percent productivity gains from AI and GenAI in 2024.

  • Americana Restaurants posts profit.

    The annual net profit in 2022 was US$470 million.

    The company demonstrated resilient performance, despite US$106 million impact of unfavorable foreign exchange movements.

    Adjusted EBITDA increased to $550.8 million, reflecting a 2.8 percent growth year-on-year with a healthy adjusted margin of 22.8 percent.

  • QEWC 2023 net profit US$426m

    QEWC market share in supply of electricity was 61 percent.

    The earnings per share amounted to US$0.38 (QR 1.41) as of December 31, 2023.

    QEWC reported revenue of $799 million in 2023 compared to $747 million in 2022.

  • Google AI research hub in Paris to host 300 experts

    The new hub part of a trend for big tech firms to base teams in European centers.

    In recent years, Google has poured investment into its engineering facility in Zurich, which also houses AI-focused teams from Meta, Apple and Microsoft.

    The French capital has long pushed to be regarded as a cutting-edge hub for tech firms, and Meta established an AI research team there in 2015

  • Commerzbank net profit $2.4bn

    This is the bank's biggest net profit in 15 years.

    The lender said it had "benefited from strong customer business and persistently high interest rates".

    Like other European lenders, Commerzbank was boosted by the European Central Bank's unprecedented streak of rate hikes last year, aimed at taming red-hot inflation

  • ATO partners with ISM to boost tourism in the Middle East

    Jeddah, UAE--The Arab Tourism Organization (ATO) has signed a partnership agreement with the International Strategic Management (ISM) company to achieve...

    The ISM will collaborate with the ATO to achieve its goals, harmonizing them with the Arab League's Sustainable Development Plan

    The partnership between the ATO and ISM will enable the Arab countries to develop tourist destinations to achieve sustainable development

  • US allies warn Israel against ‘catastrophic’ Rafah operation

    The leaders of Australia, Canada and New Zealand on Thursday warned Israel against a potentially "catastrophic" ground offensive in the...

    In the face of mounting international pressure and a death toll that Gaza authorities say has now topped 28,000, Netanyahu has vowed to press ahead

    Netanyahu has promised Israeli forces will soon conduct a "powerful" operation in Rafah -- a city filled with countless Gazans displaced by fighting elsewhere in the territory