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DAE net profit up 36.2%

Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.

Borouge 2024 net profit $1.24bn

The company said it will maintain a $1.3bn dividend for 2025.

ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.

Alpha Dhabi acquires interest in NCTH

The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.

Meraas awards construction contract

The $272m contract has been awarded for Bluewaters Bay.

  • War casts its gloom on Swiss watch industry

    Diamonds shine brightly at this year's Geneva watch fair but the sanctions slapped on Russia could soon force the Swiss...

    Luxury watchmakers exhibiting at Watches and Wonders depends on their reserves, as the major supplier of diamonds, gold, and other precious metals Russia faces worldwide sanctions

    Switzerland is the chief importer of Russian gold, ahead of precious metals such as platinum followed by diamonds

  • UAE, Israel cooperate to advance maritime transport sector

    The MoU is said to be in the field of maritime transport, exchange of experiences, and strengthening strategic partnership.

    The MoU aims to enhance cooperation between the two countries in the field of transport, especially maritime

    It is also expected to help exchange experience and knowledge to serve the future directives for the next 50 years

  • Bahrain authorities allay fears over tomato price rise

    Bahrain’s Ministry of Industry, Commerce, and Tourism has announced that big shipments of tomatoes would arrive within the next few...

    Bahrain’s Ministry of Industry, Commerce, and Tourism has said it is closely monitoring the availability of products in the central markets

    The ministry is looking to ensure that there are multiple options for basic food products, such as fruits and vegetables, at the usual prices

  • People flee Lebanon to Iran in search of employment

    Lebanon is grappling with an unprecedented financial crisis that the World Bank says is of a scale usually associated with...

    Lebanon’s crisis, driven by years of endemic corruption, has seen its currency lose more than 90 percent of its value against the dollar

    The monthly minimum wage now fetches around $30 on the black market, with 80 percent of the population now living in poverty

  • Tesla delivered 1m EVs last year

    That is 67 percent higher than deliveries in the year-ago period.

    The company delivered 1.06 million cars from April 2021 to March 2022

    This included more than 310,000 cars in the first quarter of this year alone

  • Gulf countries warm up to waste-to-fuel plans

    Here’s a broader look at how the region has prioritized solid-waste recycling and the production of alternative fuels to deal...

    Solid waste management is one of the most critical challenges facing all GCC countries

    Construction waste accounts for 53% of the total solid waste generated in the Gulf countries

  • Fitch Ratings says Saudi corporates’ funding mix is evolving

    Saudi corporates’ funding mix is evolving, with the debt capital market for firms increasing noticeably and averaging a 10 percent...

    Fitch also expects the large Islamic banking sector to drive domestic sukuk growth

    Local Sukuk issuances have steadily grown in the local capital market, totalling 41 percent of DCM activity in 2021

  • UAE and Saudi stocks post gains this week

    The UAE and Saudi stock markets posted considerable gains this week even as oil prices took a dip with the...

    TASI rose 15.7 percent during the first quarter of 2022

    Abu Dhabi index rose 17.2% over this quarter while the Dubai index grew by more than 10%

  • DEWA to increase shares for retail investors to 760 million

    DEWA has decided to increase number of shares from 260 million to 760 million to be offered to retail investors...

    This means the number of shares offered in the DEWA IPO has increased from 8.5 billion ordinary shares to 9 billion ordinary shares

    Based on the previously announced price range of AED2.25 to AED2.48 per share, the Retail Tranche will now be between AED1.71 billion and AED1.88 billion

  • Iraq exports oil worth $11bn in March, a fifty-year record

    Iraq exported $11.07 billion of oil last month, the highest level for half a century, as crude prices soared amid...

    The figures published late Friday are preliminary data but final data "generally does not vary" much

    Oil revenues are financially crucial for Iraq's government, with the country mired in a financial crisis