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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.

  • Saudi Arabia wins Best Pavilion at Expo 2020 Dubai

    The pavilion of Saudi Arabia in Expo 2020 Dubai has been awarded Best Pavilion by EXHIBITOR magazine.

    The Saudi Pavilion has already won the Platinum Certificate in LEED by the US Green Building Council

    It also holds three world records: the largest interactive light floor, the longest interactive water curtain, and the largest interactive digital screen mirror

  • Google faces racism lawsuit

    Ex-employee says Google imposed ‘barriers’ on Black workers.

    Ex-employee April Curley, hired by the tech giant in 2014, has contended in her suit that she was undermined at Google

    She says she was ultimately fired for advocating reform of ‘barriers and double standards’ imposed on Black Google employees

  • Julphar revenue up 100 percent

    The growth attributed to increased market share in key operating regions.

    In 2021, Julphar reported EBITDA from Continuing Operations at AED164.8 million.

    The Company’s profit after tax for full year 2021 reached AED59.4 million.

  • Ithmaar Holding of Bahrain to sell ‘assets’ to Al Salam Bank

    Shareholders of Ithmaar Holding have approved a plan to sell a few of the company's assets to Al Salam Bank.

    The assets include Ithmaar Holdings’ ownership stake in both Bank of Bahrain and Kuwait and Solidarity Group Holding, as well as the consumer banking business of Ithmaar Bank

    The holding company will retain a diversified portfolio of international and local financial and other assets, including banking businesses in Bahrain and Pakistan

  • India bypasses Western attempt to choke off Russian oil supply

    Indian government officials on Friday defended the continued buying of Russian oil, saying European countries were still purchasing hydrocarbons from...

    Indian oil refiners have in recent days reportedly purchased several million barrels of discounted Russian oil even as the West seeks to isolate Moscow economically

    New Delhi, which historically has had close ties with Moscow, has called for an end to the violence in Ukraine but has stopped short of condemning Russia's invasion

  • Dubai Chamber sets up Dubai Council for Wooden Ships

    Dubai Chamber of Commerce has announced the establishment of the Dubai Council for Wooden Ships, a new business group that...

    The business group, operating as a non-profit body under the umbrella of Dubai Chamber of Commerce, will serve common interests and tackle sector challenges through cooperation

    Joined by a wide variety of businesses in this sector in Dubai, the group provides a platform for member companies to share knowledge and policy recommendations

  • Dubai records $2.53 billion worth of weeklong real estate deals

    Dubai recorded $2.53 billion worth of real estate and properties transactions valued during the week ending Friday, according to the...

    A total of 355 plots were sold for AED 1.33 billion, while 1,547 apartments and villas were sold for AED 2.96 billion.

    Al Hebiah Fifth recorded the most transactions for this week by 244 sales transactions worth AED 521.52 million.

  • Telenor subsidiary sale approved

    Myanmar junta Okayed the sale to Lebanese conglomerate M1 Group.

    The Southeast Asian nation has been in chaos since a coup last year sparked huge protests and a bloody military crackdown on dissent, sending its economy into freefall.

    In July, Telenor cited junta demands that it install monitoring equipment on the network as a reason for leaving the country.

  • OPEC Fund approves $233 million for development projects

    The grants were approved at the 179th session of OFID’s Governing Board in Vienna.

    The projects will reportedly, among other things, support economic recovery, help bring up new infrastructure, and boost food security

    Overall, they are expected to benefit public-sector projects and promote sustainable development around the world

  • Amazon buys MGM studios

    The online giant closed the deal for $8.45 billion.

    Amazon's dominance in online retailing has drawn anti-monopoly scrutiny, but this buyout won approval from EU authorities

    The deal bolsters Amazon Prime Video with some 4,000 films and 17,000 television episodes as it faces off with the likes of Netflix and Disney in a booming market