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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.

SIB’s 2024 profit $272m

The profit surpassed AED 1 billion for the first time in bank's history.

  • Expo 2020 Dubai warns of fraud over Coldplay concert tickets

    Some free tickets for the February 15 concert of British music band Coldplay were apparently being resold online for money.

    Expo 2020 Dubai has warned that the many copies of the same ticket may be sold online

    Each ticket has a QR code that can be scanned only once, to deter exactly such practices

  • Saudi crown prince transfer 4% Aramco shares to PIF

    The transfer was part of Saudi Arabia’s long-term strategy to support the restructuring of its economy, in line with Vision...

    The shares are expected to bolster the PIF’s strong financial position and high credit ratings in the medium term

    The transfer will support the PIF’s plans to grow its Assets under Management to around SAR4 trillion (around $1.07 trillion) by 2025

  • Big oil firms rebuked

    Big oil companies said their 2021 profits were $66.7 billion.

    The whopping 2021 profits of Shell and BP triggered calls for a windfall tax on the profits of energy firms in the UK

    French Presidential candidate Yannick Jadot also spoke out against profits made "on the back of French men and women"

  • UAE indices witness a great week

    The Saudi Stock Exchange’s main index TASI started and ended the week with a 0.5 percent rise despite the fluctuation.

    Al-Rajhi Bank and Riyad Bank led the Saudi index higher on Sunday as both saw their shares rise by 0.5 percent

    TASI continued to fall on Wednesday, as it offset losses in the financial sector with increases in the telecommunications industry

  • Gulf insurance set to cross $31bn mark by 2026

    The market is expected to grow at an annualized growth rate of 3.2 percent, from $26.5 billion in 2021 to...

    UAE's GWP share is predicted to rise at a CAGR of 4.1% between 2021 and 2026

    A CAGR of 1.6% is predicted for Saudi Arabia thanks to Vision 2030 infrastructure plans

  • The annual Sharjah Heritage festival to kick off in March

    Armenia will be the official guest of honor this year due to its rich and diverse cultural stock, while Indonesia...

    The Sharjah Institute for Heritage (SIH) announced that the festival’s slogan will be "The Heritage and the Future"

    A total of 33 countries would participate in the event including Saudi Arabia, Oman, Kuwait and Qatar from GCC

  • Turkey slashes sales tax on food items as inflation surges

    Turkish President Recep Tayyip Erdogan on Saturday slashed sales tax on dairy products, fruit, vegetables and other basic food items...

    The rising cost of living has become a major source of public discontent in Turkey, where it is expected to feature prominently in next year's presidential election

    Inflation hit 48.69 percent in January, the highest level since Erdogan's Islamic-rooted party stormed to power two decades ago

  • Saudi Tourism hires Radisson Blu to run a four-star resort

    Radisson Blu has been hired to manage and operate a new four-star resort with retail stores in Al-Ahsa governorate.

    The property will be developed by the Saudi Tourism Development Fund and the Abdul Latif Al Abdul Latif Hotel Group

    The project's annual gross domestic product is expected to be as much as SR42 million ($11.2 million)

  • Saudi hiring of foreign domestic workers leaps up 15%

    Saudi Arabia has recruited more than 75,000 overseas domestic workers in December 2021, a fifteen percent jump in the hiring,...

    New contracts for workers in domestic-facing roles exceeded 76,000 in December 2021, compared to 69,000 in November and 65,000 in October

    Bangladesh topped the list of countries of workers recruited into Saudi Arabia during the month of December with more than 12,000 contracts

  • ADNOC Distribution posts net profit of AED2.2bn for 2021

    ADNOC Distribution has reported that its EBITDA stood at AED 3.1 billion, with net profit of AED2.2 billion for 2021.

    For the fourth quarter of 2021, EBITDA was AED802 million, while net profit stood at AED571 million

    ADNOC Distribution saw quarter-on-quarter growth in total fuel volumes in 2021, with an increase of 4% in the fourth quarter compared to the third