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UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

ADNOC shifts OMV stake to XRG

XRG is ADNOC's wholly-owned international investment company.

SIB H1 net profit $189m

The bank's total assets increased by $1.49 billion.

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

  • Number of new companies in Ajman China Mall up 12 percent

    Ajman China Mall has registered a growth of 12 percent in the number of registered companies in 2021 compared to...

    Out of 1,000 enterprises operating in the mall, the retail sector topped the list followed by the fashion and textile sector.

    The Mall’s yearly import value reached an average of AED 3.65 billion, with export products valued at AED 2.1 billion.

  • Saudi Industrial Production Index shoots up 11.1% in January

    Driven by high oil output, Saudi Arabia’s Industrial Production Index shot up 11.1 percent in January, official data indicated.

    This positive performance was mainly due to a 11.4 percent rise in mining and quarrying sector, which includes oil production as well

    The Kingdom pumped at a level of over 10 million barrels per day in January

  • The Bukhatir Group of UAE revives Tunisia $5bn construction project

    The Bukhatir Group of the United Arab Emirates announced Thursday the relaunch of a $5 billion real-estate project in Tunisia,...

    Known as the "Tunis Sports City," the venture has been on hold for 15 years, due in large part to the 2008 global financial crisis and Tunisia's 2011 Arab Spring protests

    The ambitious project will involve the construction of a golf course, sports academies, hotels and luxury villas in a lakeside northern suburb of the Tunisian capital, Tunis

  • Masdar City, Mashreq Bank to provide financial services to SMEs, start-ups

    Masdar City and Mashreq Bank have signed a Memorandum of Understanding (MoU) to provide financial services to Small and Medium-sized...

    An MoU signed between the two involves easy access to NeoBiz, the bank's first digital banking platform designed specifically for start-ups and SMEs.

    Masdar City is currently home to more than 1,000 companies, including a wide range of innovation-focused SMEs and start-ups.

  • Careem looks to raise $500m to fund expansion

    Careem, the vehicle-for-hire firm, has set its sights on raising some $500 million from investors, including regional sovereign wealth funds.

    The firm owned by Uber will use the money to bankroll an expansion into services different from ride-hailing

    It has already held talks with Saudi Arabia’s Public Investment Fund and Abu Dhabi’s ADQ to raise the funds

  • Brent oil rebounds 5 percent from slump as hopes of supplies rise

    European benchmark Brent North Sea crude climbed 5.1 percent to $116.80 per barrel in morning deals. New York's WTI contract...

    Brent tumbled as low as $105.60, having hit a peak of $139 just two days before, as the Ukraine crisis continues to send shockwaves through markets.

    The UAE said Wednesday it would urge fellow states in the OPEC oil producers' cartel to boost output.

  • DP World of UAE posts 26% jump in revenue to $10.8bn

    DP World of the UAE has posted a twenty six percent increase in revenue to $10.8 billion in 2021, despite...

    In a statement the company said that the revenue hike was “supported by acquisitions and new concessions including Angola, Unico, and Transworld”

    “We expect our portfolio to continue to deliver growth,” commented CEO, Sultan Ahmed Bin Sulayem

  • Saudi ministry signs 23 deals worth $3.46 bn at first defense show

    The Saudi Ministry of Defense (MoD) announced the closing of 23 deals worth more than SR 13 billion ($3.46 billion)...

    The MoD signed five deals with the Saudi Arabian Military Industries (SAMI): two with Royal Saudi Land Forces and three with the Royal Saudi Naval Forces.

    The SR 6 billion deal with SAMI includes providing advanced communication systems, armored vehicles, ammunition, and maritime systems.

  • Struggling Libyan potters showcase wares online

    The Libyan city of Gharyan sculpted a reputation for ceramics generations ago, but fragile demand is forcing potters to seek...

    Potters in Gharyan looks to compete with products made in China, Turkey and Libya's neighbors

    Gharyan's once-prosperous potteries struggles to keep pace with modernization

  • ADNOC Distribution launches range of 100% plant-based engine oils

    Plant-based base oils are made from sustainable feedstock sources, such as palm, soy, coconut, and rapeseed.

    Voyager PX Green is developed specifically for petrol engines and Voyager DX Green for diesel engines

    The technology is said to be the first approach in the region to be made entirely from plant-based oils