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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.

  • Etihad Rail and FAB sign pact

    The bank will arrange finances worth $541m for passenger transport.

    The agreement comes as part of the UAE National Railways Programme, the largest land transport system of its kind in the UAE.

    With the launch of the railway passenger services, the passenger trains will strengthen connectivity between the UAE by connecting 11 cities and locations in the country.

  • Russia-Ukraine conflict: GCC can fill the energy gap

    The Arab oil and gas producers are likely to close the gap that could arise from the disruption of oil...

    The Arab oil and gas producers are likely to close the gap that could arise from the disruption of oil flows from Russia, according to the Institute of International Finance

    The brent oil prices surged to US$100 per barrel for the first time in eight years after Russia attacked Ukraine

  • Etisalat rebranded e& in pursuit of global tech and investment ambitions

    UAE’s biggest telecom operator Etisalat will now be called as e& after its rebranding on Wednesday, which was launched by...

    The rebranding was launched by Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.

    Abu-Dhabi based Etisalat was founded in 1976 and it has operations in the MENA region and Asia, serving more than 156 million customers.

  • Saudi Arabia overall export rose 62.6% y-o-y in December

    GASTAT data said the value of exports amounted to SAR106.3 billion ($28.35 billion) in December 2021.

    The total value of exports amounted to SAR106.3 billion ($28.35 billion) in December 2021

    This was up from the SAR65.3 billion ($17.41 billion) that Saudi Arabia had in December 2020

  • UAE Defense Ministry signs deals worth $544m at UMEX & SimTEX

    Deals worth more than AED2 billion ($544 million) were made by UAE’s Ministry of Defense during the fifth edition of...

    This was the largest edition of this event in terms of exhibition area and exhibitors, with 134 exhibitors from 26 countries from around the world.

    The Ministry of Defense’s deals on the third and final day of UMEX & SimTEX 2022 included deals with local companies valued at AED 51 million.

  • Mercedes-Benz posts strong results

    Mercedes saw the key measure rise 19.2 bn euros.

    Mercedes, which changed its name from Daimler at the beginning of the month, saw the key measure rise $21.6 bn

    The group's net profit increased almost six-fold to 23.4 billion euros from four billion euros in 2020

  • Aluminum price hits record high on Ukraine Attack

    Aluminum has beaten the previous peak in price hike of $3,380.15, reached in July 2008.

    The lightweight metal price has been increased as high as $3,382.50 per tone

    Analyst Daniel Briesemann said that the rise in price of the metal was expected

  • Russian central bank to intervene as ruble, Moscow exchange plummet

    The ruble-dominated Moex index opened down 13.97 percent, while the dollar-dominated RTS was down 20.16 percent.

    The central bank measures are intended to provide ‘additional liquidity to the banking sector’ in Russia

    This, as Western sanctions loom after the military operation announced by Vladimir Putin against Ukraine

  • Russia attack on Ukraine turns Europe eyes to Saudi Arabia, Qatar

    Qatar and Saudi Arabia host American troops, but their economic and political relations with Russia have grown over the years.

    Russian gas accounts for about 40 percent of the European market, leaving it highly exposed to supply disruptions due to the conflict

    A similar logic applies to the 2.3 million barrels of Russian crude that heads west each day through a network of pipelines

  • Meta lays out moves being made to build the metaverse

    The metaverse is a 3D virtual world where people will be able to interact using sensors, head gear and other...

    The metaverse is a 3D virtual world where people will be able to interact using sensors, head gear and other gadgets

    Formidable rivals such as Apple, Google and Microsoft seem poised to compete with Meta on the new virtual terrain