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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.

  • Russia warns embargo on its oil imports will impact everyone

    An embargo on Russian oil imports, pushed for by some European countries over Moscow's military action in Ukraine, would have...

    Some EU countries including Baltic states have called for an embargo on Russian oil and gas

    EU foreign ministers on Monday are meeting to discuss the situation in Ukraine

  • UAE sanctions crowdfunding for public and private sectors

    The Cabinet approved the UAE System for Crowdfunding Platform Operators, stressing that the Securities and Commodities Authority (SCA) will be...

    The strategy covers all technical aspects associated with the regulation of crowdfunding platform operators

    It also addresses supervision, inspections, and penalties

  • Saudi Arabia warns of ‘direct threat’ to global supplies from attacks

    Top crude exporter Saudi Arabia warned Monday that Yemeni rebel attacks on the kingdom's oil facilities pose a "direct threat"...

    Saudi Arabia "will not incur any responsibility" for shortages in oil supplies in light of the Iran-backed Houthi attacks, the foreign ministry said in a statement

    The statement comes a day after the kingdom acknowledged a temporary drop in production after the Houthis attacked a refinery with an armed drone

  • Egypt and Saudi Arabia to boost bilateral economic cooperation

    Hala Al-Saeed, Egypt’s minister of planning and economic development, discussed ways to enhance future cooperation between Egypt and Saudi Arabia...

    A discussion was held between Egypt's minister of planning and Saudi Arabia's minister of trade.

    The minister of Egypt stressed her keenness to consolidate relations between the Egyptian and Saudi business communities.

  • Stellantis MENA shipments up

    Expansion into 10 new countries MENA countries strong driver for growth.

    The UAE saw a 41 percent increase across all brands from the same period last year, with Jeep increasing sales from 25 percent and PEUGEOT increasing by 70 percent.

     Saudi Arabia witnessed a 36 percent growth across all Stellantis products with PEUGEOT being the automaker’s highest performing brand with a 222 percent  growth.

  • Nahdi Medical to list on Tuesday

    The company's listing will be the biggest since Aramco.

    With an offer price of SR131 ($35), Nahdi had raised $1.36 billion from its initial public offering, slightly higher than the $1.2 billion sold by ACWA Power a year earlier

    The Jeddah-based pharma retailer currently operates over 1,150 pharmacies across the Kingdom and a rising number in the UAE

  • Gas production begins at Pegaga

    The production started by Abu Dhabi-based Mubadala Petroleum.

    Pegaga will be a key producing field supplying gas to PETRONAS LNG Complex, in Bintulu, Sarawak, Malaysia.

    Mubadala Petroleum has been present in Malaysia since 2010 and is the Operator of Block SK 320 with a 55 percent stake.

  • ADX embraces FTSE Russell’s Industry Classification Benchmark

    The Abu Dhabi Securities Exchange (ADX) has decided to embrace FTSE Russell’s Industry Classification Benchmark (ICB) for all its listed...

    The introduction of the ICB is part of the transition of ADX indices to the co-branded FTSE ADX index series, under the strategic partnership between FTSE Russell and ADX

    The partnership between FTSE Russell and ADX is aimed to develop co-branded indexes and will support the recent launch of ADX’s derivatives market

  • Licensed firms and SMEs account for bulk of AFZ procurement

    Licensed companies and small and medium enterprises (SMEs) accounted for 51 per cent of Ajman Free Zone’s total procurement of...

    Ajman Free Zone covered 27 per cent of the total purchases and contracts of SMEs alone during the same year.

    The Free Zone's procurement policy benefits investors and business owners from more than 165 countries, said Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of AFZ Board.

  • Salalah Free Zone inks $3.9m deals

    The projects will be set up in the Mazaya warehouses.

    The first agreement is on the establishment of a complex for the trade of plastic products

    The second agreement is to establish a complex to assemble communications equipment