This is a temporary backup site for TRENDS MENA while our primary website is being restored following a regional disruption affecting AWS cloud infrastructure in the GCC.

Search Site

AD Ports Group 2024 net profit $484m

The Group's revenue increased 48 percent year-on-year.

TAQA net income $1.93bn in 2024

The company's revenues increased 6.7 percent year-on-year.

ADNOC L&S 2024 net profit $756m

The company's revenue increased by 29 percent to $3.54 billion.

ADNOC Distribution 2024 net profit down 7%

Minus UAE corporate tax, it would have grown by 2.4% to $725m

Maaden raises $1.25bn in sukuk offering

The Sukuk were offered in a five-year and a 10-year tranche.

Saudi Arabia to import 625,000 tons of wheat later this year

  • The Russian invasion of Ukraine has threatened the food supply of not just Saudi Arabia but the entire Middle East and North Africa region
  • Saudi Arabia buys wheat, beef, and milk from both Ukraine and Russia and relies on them for various products, particularly agricultural products

The Saudi Grains Organization (SAGO) has completed the procedures for importing 625,000 tons of wheat, official sources have said.

The wheat is being procured from Europe, North and South America, and Australia, said the sources.

SAGO Governor Ahmad Bin Abdulaziz Al-Fares was quoted by the sources as saying that contracting this batch comes within the framework of strengthening the strategic stock of wheat, maintaining it at safe levels, and meeting all the needs of milling companies.

The Russian invasion of Ukraine has threatened the food supply of not just Saudi Arabia but the entire Middle East and North Africa region.

Saudi Arabia buys wheat, beef, and milk from both Ukraine and Russia and relies on them for various products, particularly agricultural products.

The import details

Al-Fares explained that this batch would be supplied between September and November this year, and distributed over 10 shipments.

One shipment of 63,000 tons is expected to arrive at the Jeddah Islamic Port. Another shipment carrying 55,000 tons of wheat will reportedly arrive at the Jazan Port.

A total of six shipments, with 379,000 tons of the grain, is expected at the Yanbu Commercial Port.

And finally, two shipments with 128,000 tons will reportedly arrive at the King Abdulaziz Port in Dammam.

Al-Fares pointed out that with the completion of this tender, the organization is contracted to import about 2.6 million tons of wheat during this year.