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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.

  • FedEx founder quits as CEO

    Frederick Smith is stepping down after some five decades at the post.

    The change in guard will take place on June 1, with Smith becoming executive chairman

    Meanwhile, Chief Operating Officer Raj Subramaniam will ascend to president and CEO

  • Sharjah Municipality permits food display in restaurants during Ramadan

    The authorities will issue the necessary permits for this purpose, in accordance with hygiene conditions and preventive measures.

    The municipality confirmed has prepared all its relevant departments and teams to follow up on food preparation and serving facilities

    It has also allocated inspection teams to follow up whether the facilities were complying with the health and hygiene regulations

  • Gulf region will boost global clean energy security: Al Kaabi

    Mubadala’s UAE Investment chief Musabbeh Al Kaabi said on Monday that the Gulf region will play an increasingly important role...

    Al Kaabi affirmed that governments must develop initiatives to mitigate supply chain challenges to meet net-zero carbon targets

    He noted that global energy security will extend beyond oil as the UAE and its neighbours’ transition to become leaders in clean energy production

  • Kaspersky now a ‘security threat’

    The designation will restrict its dealings in the United States.

    The US Federal Communications Commission has added Kaspersky to a threat list

    This effectively blocks the firm from being paid with certain US government subsidies

  • Smartphones, net speed fuel Saudi ecommerce boom

    Pablo Martinez, Managing Director and Senior Partner at the Boston Consulting Group, sheds light on what lies ahead for the...

    In 2020, the Saudi ecommerce accounted for only 6% of overall retail sales, while major markets contributed 18%

    Only a small set of online retailers in influential cities of the kingdom offers same-day delivery, a standard in developed markets

  • Oman, Sri Lanka to cooperate in economy, trade and investment

    Oman and Sri Lanka have discussed economic and trade cooperation. In this connection, Saleh Said Masan, Undersecretary for Commerce and...

    The two sides explored aspects of the joint cooperation, economic diversification sectors and the investment and trade environment.

    They discussed aspects of cooperation in the economy and industry sectors, logistics, ports and investment opportunities in both countries.

  • UAE tops gender equality in Arab countries

    In the UAE, and the wider Arab world, many women have been successful in upturning the prevalent prejudice that a...

    Their participation in the workforce has grown; in many Arab countries, women entrepreneurs are competing with men to distinguish their businesses

    Many young women have important roles in government offices where they are a key part of policymaking

  • Kuwait issues bonds, tawarruq to the tune of $792m

    The Central Bank of Kuwait has issued bonds and tawarruq for six months with an accumulated value of $792 million.

    According to a statement released by the bank, the rate of return is set at 1.625 percent

    The bank also issued bonds and tawarruq as of March 21 valued at 220 million Kuwait dinars ($660 million) for three months standing at a rate of returns of 1.375 percent

  • PIF of Saudi Arabia looks to buy stakes in four construction firms

    PIF, Saudi Sovereign Wealth Fund, is in talks with four construction firms in order to make investments to the tune...

    According to media reports the PIF is holding discussions with  Nesma Holding, El Seif Group, Almabani General Contractors, and Albawani to buy minority stakes in them

    Looking to take stakes of about 30 percent in each company, the PIF has roped in Rothschild and GIB Capital as advisers to finalize the deals

  • Dubai school ‘first’ in Middle East to accept tuition fee in Bitcoin, Ethereum

    A school in Dubai has said it will be the first school in the Middle East to let parents pay...

    Citizens School, which is set to open doors in September 2022, said it will accept payments from Bitcoin and Ethereum in addition to traditional modes of payment.

    Payments using cryptocurrencies are accepted through a tie up with a digital currency platform that processes cryptocurrency payments and automatically converts them to Dirhams.