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Aramco, unit and Sinopec ink $4bn deal

The two companies will establish a joint venture company.

Etihad unveils new A321LR aircraft

A321LR features First Suite - a private, enclosed space with a sliding door.

stc Group Q1 net profit up 11.05%

The Group reported a revenue of $5.12 billion.

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

  • ADIO and Etisalat to facilitate digital economy access for firms in Abu Dhabi

    Abu Dhabi Investment Office (ADIO) and Etisalat will work together to unlock opportunities for businesses in Abu Dhabi by introducing...

    ADIO’s $545-million Innovation Programme provides incentives to businesses in high-growth areas to expand in Abu Dhabi.

    Etisalat Digital’s FutureNow program invites innovative technology companies to accelerate their businesses in the UAE.

  • oil, prices, crude, asian stocks

    Eni of Italy discovers three new oil and gas wells in Egypt

    Eni of Italy has discovered three new oil and gas wells in Egypt, according to the Egyptian Ministry of Petroleum.

    Oil, gas, and condensate (a mix of light liquid hydrocarbons) were found in the Meleiha concession area, and oil in the southwest Meleiha zone

    The MWD-21 well, which has already been linked to production, also yielded a stable rate of 2,500 bpd

  • Saudi Investment Bank records 9% rise in net profit to $206.7m

    The Saudi Investment Bank (SAIB) has recorded a 9 percent rise in net profit to $206.7 million in the first...

    The bank attributed the profit rise to a decline of 11.6 percent year-on-year (YoY) in total operating expenses amid lower salaries and employee-related expenses.

    Total shareholders' equity, excluding minority interests, reached SR14.69 million during the first nine months of 2021

  • 44 MNCs decide to set up regional HQs in Riyadh

    Pepsico, Deloite, Siemens, Haliburton, KPMG, PwC, Novartis and OYO are among the companies that will establish their regional headquarters in...

    The licenses were issued at the 5th edition of the Future Investment Initiative under the Regional Headquarters program.

    The direct and indirect benefits from the presence of companies (in Saudi Arabia) will amount up to $45 billion, says minister.

  • Sharjah Economic Development Department processes 14,210 licenses during Q3

    Sharjah Economic Development Department (SEDD) has processed 14,210 licenses submitted through its smart applications on its website as well as...

    The majority of the licenses processed belonged to the commercial sector, followed by professional.

    The growth of business licenses confirms the strength of the local economy, Sultan Abdullah bin Hadda Al Suwaidi.

  • Advanced Petro Co. of KSA posts nearly 40% jump in net profit

    Advanced Petrochemical Company of Saudi has posted nearly 40 percent increase in net profit to $58 million for the third...

    “Net profit increased by 39 percent compared to Q3 2020 mainly due to the increase in polypropylene sales”

    Sales revenue for the current quarter surged by 47.7 percent to 805 million riyals, while total comprehensive income grew from 286 million riyals to 356 million riyals

  • Singapore-based Near acquires minority stake in MEmob+

    Near will work with MEmob+ to continue its global expansion with a push into the Middle East and Africa.

    Near will work with MEmob+ to continue its global expansion with a push into the Middle East and Africa

    The companies will look to accelerate the adoption of cutting-edge technologies to support the performance of businesses everywhere

  • Network International of UAE posts 19% jump in revenue

    Network International, the UAE-based payment solutions firm, has posted a 19 percent jump in revenue in the third quarter, increasing...

    Merchant solutions revenue was up by 38 percent, the company said in its Q3 2021 trading update

    The company said that its entry into the Saudi Arabian Market was also on track, with the expectation of launching in the kingdom in early 2022

  • Fertiglobe completes IPO on Abu Dhabi Securities Exchange

    The initial public offering (IPO), which raised over $795 million, experienced strong demand from local and international investors, with orders...

    Fertiglobe’s shares will begin trading at AED2.55, implying a market capitalisation for the Company of $5.8 billion

    The company is the world's largest seaborne exporter of urea and ammonia and the largest nitrogen fertiliser producer in the MENA region

  • Which Asia-Pacific countries are re-opening to foreign visitors?

    Mainland China, where Covid-19 first emerged last year, remains closed to overseas tourists, as is Japan.

    Mainland China, where Covid-19 first emerged last year, remains closed to overseas tourists, as is Japan

    India re-opened for foreign tourists on charter flights this month and will allow in visitors on all flights from mid-November

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