Yanbu industrial port receives first RORO vessel, carrying nearly 2,000 cars
Yanbu, Saudi Arabia - The King Fahad Industrial Port in Yanbu welcomed the arrival of the "Hoegh Sydney," marking the...Business
Weyay recognized as ‘Fastest Growing Digital Bank’ in Kuwait by Mastercard
Kuwait City - Weyay was recognized as 'Fastest Growing Digital Bank' in Kuwait by Mastercard on the sidelines of the...Business
STC net profit $2.32 bn for 9 months
Net profit in Q3 alone increased by 5.71 percentThe company attributed the rise in profits in the third quarter to the rise in revenues and a decrease in operating expenses.
STC's shares are up nearly 20 percent so far this year
Dubai looks to become equine industry hub
The emirate will see a number of new initiatives that will bring new opportunities to the sector, Sheikh Rashid bin...The annual cost of caring for a racehorse training in the UAE is about $30,000
The total money spent by the sector in the country for racehorse training is $570 million
Al Rajhi Bank’s net profit vaults 44% to $2.86bn
Al Rajhi Bank of Saudi Arabia posted a 44 percent rise in net profit to $2.86 billion for the first...The higher net profit for Q3 2021 is spurred by 43 percent year-on-year to SR 3.794 billion, compared to the third quarter of 2020
The bank attributed the profit increase to the rise in total operating income by 26.4 percent, as a result of higher net financing and investment income
Saudi National Bank posts 20% jump in net profit to $1bn
Saudi National Bank (SNB), the kingdom’s biggest lender, has posted a nearly 20% jump in net profit to $1 billion...SNB reported a net profit of 3.8 billion riyals ($1.0 billion) for the quarter that ended on Sept. 30, up from 3.2 billion riyals in the same period a year earlier
The result was better than the 3.6 billion riyals average analysts' forecast
VPS behind T20 bio-bubble
There will be over 2,200 people in the bio-bubble this time.The ICC World Cup T20 bio-bubble will consist of players, supporting staff and their families, and broadcast crew
There will also be BCCI and International Cricket Council officials, staff at the hotel and stadium, and selected medical personnel
Tamatem pushes Arabic games
This Jordanian firm is being praised for Arabic mobile games.Founded in 2013, Tamatem now has offices in the United Arab Emirates and Saudi Arabia
It has published more than 50 mobile games, which have been downloaded more than 100 million times
Abu Dhabi launches virtual license for non-resident investors
The virtual license covers 13 economic sectors on top of the strategic sectors targeted by the Abu Dhabi government to...The program lets non-resident foreign investors obtain an economic license for doing business in the emirate
They can now do this without any prior residence procedures and from any location outside the UAE
Qatar hopes to attract 1.2 million World Cup visitors
Organizers of the 2022 World Cup in Qatar hope to attract 1.2 million tourists to the Gulf country, an official..."They will not (all) be in the country at the same time, as the event extends over a period of 28 days"
Those include accommodation on cruise liners, hotel apartments, fan villages with an Arabian desert vibe
Electrified cars hit almost a fifth of EU Q3 vehicle sales
At least one in five vehicles sold in the European Union (EU) in the third quarter of the current fiscal...Battery electric vehicle sales jumped nearly 57 per cent to more than 212,000 units, while plug-in hybrid models rose nearly 43 per cent
This is a slower pace of growth than in 2020 when sales almost trebled from a low base
Bavarian & DEWA discuss renewable energy collaboration
They also discussed boosting relations, and interchanging knowledge with German businesses.DEWA and Bavarian officials met to discuss partnership in clean energy
By 2050, Dubai plans to fulfill 75 percent of its energy requirements through renewable sources
