IHC net profit soars to US$8.9bn
The company's revenue for the year 2023 stood at US$16.33bn.Business
European markets surge as US jobs data batter rate cut hopes
"The markets continue to forge ahead despite a blowout jobs report from the US last Friday which seems to have...Business
Jahez to raise $428m through IPO
HSBC is the financial advisor of the Saudi online food delivery startup.It has set the price range for its IPO on Nomu Parallel Market between SR750 and SR850 per share
HSBC Saudi Arabia is the financial advisor, lead bookrunner, lead manager, and stabilization manager for the listing
Oman launches operations at 500-acre shrimp farming project
A commercial shrimp farming project was launched at Quroom Farm in Jaalan Bani Bu Hassan, in the Governorate of South...Quroom Farm in Jaalan Bani Bu Hassan is is set to have a total capacity of 4,600 tons per annum by the time it is completed in 2023.
The farm will also serve as a springboard for academics and researchers in the field of aquaculture.
Saudi markets rocky, Abu Dhabi index loses ground
The Saudi and Abu Dhabi indices saw a choppy week, while the Dubai markets saw some good gains.Aramco's share price dropped by 9 percent, as the Saudi index fell by 0.5 percent on Thursday
The Abu Dhabi index slipped 0.2 percent on Tuesday, down from a record high
Syria to host the Arab Energy Conference in 2024
The meeting of the Council of Ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC), was held on Thursday...The meeting of the Council of Ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC), was held on Thursday via video
The ministers agreed that Syria would head the Council of Ministers of OAPEC as of January 2022 until January 2023
Morocco businessman jailed over 29 deaths in factory flood
The workers were trapped as heavy rains flooded the basement factory in the northern city of Tangiers.The workers were trapped as heavy rains flooded the basement factory in the northern city of Tangiers.
Main defendant Adil El Balili was sentenced to 18 months in prison and a fine of $107 for "involuntary homicide"
Saudi Arabia eyes gas primacy with Al-Jafurah
The country is looking to move up a position and become the world’s second-largest gas producer with this field.Saudi Arabia intends to be one of the most influential in defining global policies in the gas market
Al-Jafurah is the country’s largest non-associated gas field, with reserves estimated at 200 trillion cubic feet
Airbus looks to go the arbitration way with Qatar Airways
Qatar Airways in August stopped taking deliveries from Airbus over a problem that saw external paint degrading.Qatar Airways grounded 13 of its 53 A350s after the aircraft saw the exterior paint degrade
This exposed the metal mesh that protects the composite fuselage from lightning strikes
Saudi Arabia, Bahrain review ways to boost ties
The two countries are seeking to establish a regional complex for the extraction, use, and storage of carbon.The two sides agreed to enhance cooperation on international climate policies
They will also look to focus on emissions rather than sources through the application of the Circular Carbon Economy approach
DP World adds LatAm infra
It will add warehouses in Ecuador and the Dominican Republic.DP World and Emergent LatAm will develop two temperature-controlled logistics facilities in Latin America
These developments will provide Emergent LatAm and DP World customers with a supply-chain solution
American Airlines trims flights
The US carrier is waiting for the new Boeing 787 DreamlinersThe major US carrier is still waiting for the new Boeing 787 Dreamliners it ordered and will not resume flying routes in the summer of 2022 as previously planned
Demand for long-distance flights has been slow to recover from the pandemic downturn, but US carriers have been eyeing summer 2022 as a key moment in the comeback
