MENA marinas attract luxury yachts
The Middle East now accounts for more than 12.6 percent of the world’s luxury yachts as the services match the...Egypt's ports are notable for their capacity to accommodate a large number of yachts and for their ability to provide guests with the best nautical activities.
Sharm El-Sheikh port is one of the most significant seaports in South Sinai Governorate, serving as a hub for ships, yachts, and tourists.
Abu Dhabi Chamber discusses partnerships with Azerbaijan official
Two sides discussed the prospects of boosting trade exchange and the flow of goods between the two countries.Two sides discussed the prospects of boosting trade exchange and the flow of goods between the two countries
The countries will explore opportunities, especially in artificial intelligence, e-trade and food security as well as the fourth industrial revolution
Elon Musk to sell 10% of Tesla stock after Twitter poll
Musk owned about 17 percent of Tesla's outstanding shares as of June 30, currently worth $208.37 billion. His wealth swelled...Musk said he was prepared to accept “either outcome” of the Twitter poll
However, he did not specify when or how he plans to sell the shares
UAE enters into cooperation with Indonesian sovereign fund
The United Arab Emirates and Indonesia’s State Wealth Fund has signed a new agreement to allow funds from the former...The investment framework agreement was signed with the Abu Dhabi Growth Fund
It made a $10-billion investment in the Indonesian sovereign wealth fund in March, according to a statement on Saturday by the Indonesian Investment Authority
MEASA’s biggest food processing and packaging show opens in Dubai
Gulfood Manufacturing, the largest food and beverage processing and packaging show for the Middle East, Africa, and South Asia (MEASA),...The event will run for three days and address the sector’s sustainable packaging, automation, and F&B supply chain issues.
UAE’s trade in food commodities contributed more than seven percent of the country's GDP for 2020.
Abdulmohsen Alhokair of KSA reports 17.8% jump in net losses
Abdulmohsen Alhokair, the Saudi entertainment group, has reported an increase in net losses by 17.8 percent during the first 9...Net losses increased to SR123.87 million in the first 9 months of 2021 from SR105.15 million during the same period of the last year
The group’s net profit for the third quarter in 2021 has increased by 106 percent
Bahrain eyes 14m tourists a year by 2026
Under the new 2022-2026 tourism strategy, the country also aims at an average daily visitor spend of 74.8 Bahraini dinars...The kingdom also aims at 11.4 percent of GDP to come from the tourism sector by 2026.
Developing marine attractions, business tourism, sports tourism, recreational tourism and medical tourism among targets.
Dubai court orders Marka managers, directors to settle $122m debt
A Dubai court has ordered the managers and directors of Marka Holdings to repay the company’s AED448 million (around $128...The court ruled that the managers and directors of the company had mismanaged it, leading to an underfunded bankruptcy
An underfunded bankruptcy is one where the entirety of the company’s assets is less than 20 percent of its outstanding debt
YahSat Q3 profit down 38 percent
YahSat said its contracted future revenues are over $2 billion.Yahsat said a final dividend of $52.5 million for 2021 is expected to be paid to all shareholders in April 2022.
YahSat was last week appointed by the UAE government to complete a detailed analysis, assessment and recommendation for two new satellites.
EGA increases Al Taweelah smelter plant’s capacity by 78,000 tons per year
Emirates Global Aluminium (EGA) has increased the production capacity at Abu Dhabi's Al Taweelah smelter by 78,000 tons per year....The plant adds 66 new reduction cells that were built using EGA's locally developed technology.
He said all 2,843 reduction cells at EGA use the company's own efficient technology developed in the UAE, says EGA CEO.
This is a temporary backup site for TRENDS MENA while our primary website is being restored following a regional disruption affecting Amazon Web Services cloud infrastructure in the GCC.
ADNOC Distribution 2025 dividend $700m
The company had reported EBITDA of $1.17 bn in 2025.
Empower okays $119.1m H2 2025 dividend
The dividend is equivalent to 43.75% of paid-up capital.
Alujain widens 2025 loss
The increase in loss is due to impairment charges, weaker prices.
Masar 2025 net profit $262m
Higher land plot sales boost revenue and operating income.
Tasnee’s 2025 losses deepen
The petrochemicals' company's revenue also fell 17.7 percent.
