Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe

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.

  • Dubai International Financial Center launches AI, UAE’s first coding license

    Companies holding the license will be able to work within a stimulating environment at the DIFC Innovation Hub.

    The license is expected to advance the country's Artificial Intelligence Strategy 2031.

    The license provides an opportunity to obtain the UAE Golden Visas for employees.

  • Egypt’s Suez Canal Authority announces hike in passage tolls

    Egypt's Suez Canal Authority announced Tuesday additional tolls for transiting vessels including fuel tankers, as oil prices soar in the...

    Petroleum gas tankers will see a 10 percent hike on passage fees while liquefied natural gas carriers and general cargo ships will incur a seven percent increase.

    Ships carrying petroleum products will be hit with a five percent rise under the new tolls, which are effective immediately.

  • Emirates Steel and Mauritania’s sign MoU

    The two companies will form a joint venture company.

    The two companies will study joint plans to produce iron oxide pellets, the primary feedstock required for Direct Reduction steel plants.

    At 1.5 billion tons, Mauritania has the largest iron reserves in the Arab world and Africa.

  • UAE, Saudi auditors’ association sign agreement to work jointly

    The Internal Auditors Associations of the UAE and Saudi Arabia have signed a cooperation agreement to work the internal auditing...

    The agreement aims to develop a framework for corporate governance to enhance investor confidence.

    The agreement defined the frameworks for joint cooperation between them in several areas, most notably the participation in organizing of internal audit conferences.

  • Region needs tourism to beat inflation

    Despite the global closures and economic crisis, the tourism sector in the Gulf region fared well in 2021 due to...

    Despite global closures and the economic crisis, the tourism business thrived in 2021

    The sector is likely to rebound in 2022 after faltering due to lifting travel restrictions

  • Italy looks to Algeria to cover possible gas shortage

    Italy imports around 95 percent of the gas it uses, and around 45 percent of that comes from Russia.

    Russia last week invaded Ukraine, causing the United States and its allies to impose sanctions on Moscow

    The conflict also sparked alarm among countries like Italy, which depend on Russia for their energy needs

  • Saudi Arabia regulates reporting of capital market violations

    This regulation reportedly aims to improve the manner of the reporting of violations of the Capital Market Law and its...

    The Board of Directors of Saudi Arabia’s Capital Market Authority gave its approval to this regulation

    The move is said to be part of the authority’s efforts to better control and develop the local capital market

  • PCR testing is a business success in the region

    A large number of kits of the PCR test has been manufactured and used across the world in general and...

    The WHO has said the PCR test is one of the most efficient to detect a Covid-19 infection, but also costlier than other methods

    The organization describes has said the test needs to be run at a molecular laboratory, which contributes to the higher cost

  • Tech giants clamp down on Russia state-linked news

    Facebook's parent Meta said it would be restricting access in the European Union to RT and Sputnik.

    Facebook's parent Meta said it would be restricting access in the European Union to RT and Sputnik

    Twitter and Facebook have both been hit with access restrictions in Russia since the invasion of Ukraine

  • TikTok videos get longer

    The app is now letting users upload videos as long as 10 minutes.

    Longer videos could also enable TikTok creators make more money and boost the platforms advertising business

    YouTube recently laid out goals for this year that included making the lives of creators easier and boosting a popular format