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TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

  • Nahdi shares fall 1.26 percent

    The firm made a strong debut on the Saudi stock exchange on Mar 22.

    Nahdi's initial public offering price was SR131, raising $1.36 billion in the biggest Saudi IPO since oil giant Aramco.

    Its profits dropped to SR813 million ($216.63 m) from SR849 million ($226.22 m) a year earlier, according to a bourse filing.

  • Global Entrepreneurship Conference records $7.71bn in deals on Day 2

    The Global Entrepreneurship Conference (GEC) recorded 28.9 billion ($7.71 billion) worth of agreements and launches on the second day. The...

    Monsha’at signed a memorandum of understanding with Amazon to enable local companies to sell their products to millions of customers across the Kingdom on the Amazon Saudi store.

    On Day 2, a total value of innovative financing banking programs, amounting to more than SAR 7.3 billion ($2 billion) for the next five years was announced.

  • Amak of KSA sees 30% jump in shares on first trading day

    Shares of Saudi mining firm Amak surged 30 percent on its debut on the kingdom's main stock exchange.

    The company saw its share price surge to a closing price of SR81.9 ($22), against an initial public offering price of SR63

    In its IPO, the firm saw strong demand from institutional and retail investors, generating SR95.8 billion worth of orders collectively

  • Waha approves dividend in 2021

    Shareholders of Waha Capital have approved a cash dividend of 7.55 fils per share and a stock dividend of 2.45...

    The company recorded investment gains and fee income of AED902 million and a net profit of AED603 million.

     Waha Capital had total assets of AED5.8 billion as at 31 December 2021, compared to AED5.1 billion in 2020.

  • Riyadh entrepreneurship meet sees big-buck deals

    The Global Entrepreneurship Congress is expected to see 40 agreements being signed between government agencies and major corporations.

    Several government entities and large firms are expected to sign 40 agreements during the conference

    The Saudi Ministry of Investment has, during the event, granted four licenses to startups and a venture capital fund

  • KSA launches global campaign for its bid to host Expo 2030 Riyadh

    Five countries, including Saudi Arabia, South Korea, Italy, Ukraine and Russia are in the reckoning for the 2030 World Expo.

    Five countries, including Saudi Arabia, South Korea, Italy, Ukraine and Russia are in the reckoning for the 2030 World Expo

    The letter announcing Riyadh’s intention to bid was submitted on October 29, 2021 on behalf of the crown prince Prince Mohammed bin Salman

  • UAE fast-tracking low-carbon economic growth: Dr Al Jaber

    Speaking at the MENA Climate Week Dr. Al Jaber explained that the UAE is adopting a comprehensive, balanced and proactive...

    Speaking at the MENA Climate Week Dr. Al Jaber explained that the UAE is adopting a comprehensive, balanced and proactive approach to climate action

    He urged the international community to do more and fulfil the $100 billion climate pledge made to developing nations over a decade ago

  • ‘Trash has value’: Kenyan inventor turns plastic into bricks

    Gjenge Makers, churns out 1,500 bricks made from industrial and household plastic that otherwise would be dumped in the city's...

    Gjenge Makers, churns out 1,500 bricks made from industrial and household plastic that otherwise would be dumped in the city's overflowing garbage heaps

    Plastic is fibrous in nature, and the unique production process prevents air pockets from forming within the bricks

  • 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