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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.

  • Aluminium, copper prices hit records on Ukraine fallout

    Aluminium reached $4,026.50, the first time the lightweight metal had breached $4,000 per tonne.

    Aluminium reached $4,026.50, the first time the lightweight metal had breached $4,000 per tonne

    Commodities have been red hot since Russia's assault on its neighbour, with gold on Monday back above $2,000 an ounce

  • Australian power firm rejects green billionaire’s takeover bid

    AGL Australia's largest energy company said its board had over the weekend rejected a joint bid of $8.25 (US$6) per...

    AGL Australia's largest energy company said its board had over the weekend rejected a joint bid of $8.25 (US$6) per share from Cannon-Brookes, founder of the tech firm Atlassian

    The firm said in a statement to the Australian stock exchange that the buyout proposal was still "well below the fair value of the company."

  • UAE, Israel work to secure region’s food needs

    Government support, coupled with strong social systems, must ensure that no one goes hungry, says Nobel Laureate Dr Dan Shechtman

    Enhancing collaboration between research institutes and agritech companies in Israel and the UAE will be pivotal to secure region's food future, say Israeli experts

    Arab region needs to develop the knowledge to grow crops in arid conditions, says Dan Shechtman of Israel Institute of Technology

  • Saudi Arabia teams up with China to produce UAVs in kingdom

    Saudi Arabia has teamed up with China to manufacture unmanned aerial vehicle payload systems in the kingdom.

    The agreement was signed between Saudi Advanced Communications and Electronics Systems Co., ACES and China Electronics Technology Group

    This came after the Riyadh-based telecommunication firm established a new company for unmanned aircraft in the Kingdom, under the name of Aerial Solutions

  • Yanbu Cement reports dip in profit

    Yanbu Cement Co., one of Saudi Arabia's largest cement producers, has posted a forty three percent dip in net profit...

    The Jeddah-based company, apart from seeing a drop in the net profit, saw its annual revenue fall slightly from SR940 million to SR934 million year-on-year

    The company attributed the dip in earnings to lower selling prices that weighed on the company's revenue.

  • Saudi Arabia hikes oil price as Russia-Ukraine war presses on

    Saudi Arabia has hiked oil prices for all regions after the crude oil prices soared to more than $115 a...

    Saudi Arabia's state oil producer Aramco raised the official selling price

    Aramco hiked all prices for the American customers by $1

  • Turkey tourism industry bemoans Russia-Ukraine war

    Every Sunday Noori Sani welcomes his old friends around a bountiful Turkish breakfast in Istanbul. But surrounding him now are...

    Within a few days of Russia's invasion of Ukraine on February 24, Ukrainians and Russians cancelled reservations for trips of Turkey

    Visitors from Ukraine and Russia made up over a quarter of all tourists who arrived in Turkey last year, tourism ministry reported

  • Saudi Arabia and Egypt to cooperate in telecommunications

    Saudi Arabia and Egypt have signed an agreement to strengthen cooperation between the two countries in the fields of telecommunications,...

    The memorandum serves to work on cooperation and exchange of experiences in the field of smart cities also

    It also includes agreements to coordinate joint events, and to design training programs and workshops

  • Inaugural session of Qatar-Nigeria Economic Forum begins

    The Qatar-Nigeria Economic Forum kicked off in Lagos, the economic capital of the Federal Republic of Nigeria.

    The Forum aims to enhance economic cooperation and review business opportunities between the two countries

    A special focus will be placed on cooperation in the fields of manufacturing, construction, oil and gas and technology

  • East Pipes of KSA gets $133m financing

    East Pipes of Saudi Arabia has secured a Shariah-compliant working capital financing of $133 million from Bank Albilad.

    The capital will be used to “finance the working capital of one the company’s projects”, the Dammam-based company said in a bourse filing

    East Pipes, which joined the Saudi stock exchange earlier this year, was established in 2010 and specializes in manufacturing steel pipes