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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.

  • ADNEC’s hall 40 percent complete

    It would be the biggest exhibition hall in the MENA region.

    The hall is scheduled to open in October 2022 and is part of the expansion plans for the Centre to bolster ADNEC’s competitiveness.

    The first-of-its-kind hall is being built on a space of 1,000 square meters in the Marina area opposite the Abu Dhabi National Exhibition Centre.

  • Alba, EGA sign MoU

    Aluminum Bahrain (Alba) is looking to increase its throughput.

    The two Aluminum producers will cooperate to creep production at Alba’s Potline 6 beyond its name plate design capacity.

    They will also explore ways to use EGA technology and expertise in future expansions at Alba smelter.

  • GCC banks record 40% spike in profits to $35bn in 2021

    The Gulf Cooperation Council’s banking sector profits recorded a 40 percent surge to hit $35 billion in 2021, a report...

    Despite the surge, profits remain below pre-pandemic levels of $37 billion in 2019

    Surge in profits is mainly due to an increase in total bank revenue and a decline in loan loss provisions

  • Bahrain and stc to build region’s first data center park

    Bahrain will build the region's first data center park in partnership with stc Bahrain to create an integrated digital center...

    The park will be developed on 55,000 square meters of land in Al-Qurain

    The new establishment will contribute to Bahrain’s digital economy in line with the country's national Economic Vision 2030

  • Dubai Expo draws to a scintillating close

    Dubai ended Expo 2020 with a colorful closing ceremony punctuated by fireworks as the UAE leadership vows to 'continue to...

    Six months after the delayed opening of the $7 billion, purpose-built site, Christina Aguilera, Nora Jones and cellist Yo-Yo Ma performed at the LCD-lit Al Wasl Dome

    Expo, housed on a circular site twice the size of Monaco, has been a point of pride for Dubai's rulers and one of a number of projects aimed at grabbing world attention

  • FIFA heads for $7 billion revenues on the back of Qatar World Cup

    FIFA is on target to reap record revenues of seven billion dollars on the back of this year's Qatar World...

    The governing body has seen revenues from television, sponsors and marketing take off despite past scandals and the coronavirus pandemic.

    FIFA said in its accounts that it expects "television broadcasting rights to have set a new record" by the time of the World Cup final on December 18.

  • Soaring global urban tech market to benefit KSA: Mastercard report

    The paper has shone a spotlight on how Saudi Arabia’s e-government, tourism, healthcare, and transit sectors stand to benefit from...

    The paper has shone a spotlight on how Saudi Arabia’s e-government, tourism, healthcare, and transit sectors stand to benefit from the smart city revolution in the Kingdom

    The paper highlights 5G, Wi-Fi 6, cloud computing, virtual reality and geospatial technology as focus areas for digital infrastructure to develop cities

  • Regional brands may fill gaps in activewear market

    Succeeding for a female entrepreneur in an industry dominated by men is a tough task but can be achieved, says...

    It was now or never for the Arab entrepreneur Nathaly Daou who launched her activewear brand NatUsual soon after 2020 Beirut blasts

    Daou had to navigate many roadblocks to not only launch but protect the brand at a time when many went out of business

  • Tips for family businesses in private equity model

    Unlike many family businesses, successful private equity owners do not wait and hope for everything to go according to plan. ...

    Private equity firms regularly update the overall strategy and plans of their portfolio companies based on transparently shared info about the business and the market changes.

    Also, successful private equity owners always have a Plan B in place to respond to performance screwups and changes in the business environment quickly and decisively.

  • Saudi deposits $5bn in Egypt, plans to invest double: State media

    The Egyptian and Saudi governments have signed a draft agreement for Saudi investments in the country totaling a projected $10...

    The announcements come as the North African country enacts a slate of financial measures to mitigate the economic fallout of Russia's invasion of Ukraine.

    As the world's largest importer of wheat, Egypt relied on the two countries for 85 percent of its supply, as well as 73 percent of its sunflower oil.