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.

Search Site

VideosInforgraphics
Sign inSubscribe

Business

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.

DP World 2025 revenue $24.4bn

The profit for the year up 32.2% to reach $1.96bn.

BYD 2025 revenue surges

The EV manufacturer reported net profit of $.3.3bn for 9M 2025.

US defends forcing sale of TikTok app

TikTok's suit argues this violates First Amendment rights of free speech.

Business

Boeing to plead guilty to criminal fraud charge stemming from 737 Max crashes

Boeing agreed to plead guilty to a criminal fraud charge tied to the fatal 737 Max crashes, the Justice Department...

Business
Business

UAE to pump CO2 into rock as carbon capture debate rages

Fujairah, UAE - High in remote mountains in the oil-rich Emirates, a new plant will soon take atmospheric CO2 and pump...
  • The first CO2 injection is expected during COP28, and where the debate over hydrocarbons will be a key battle between campaigners and the oil lobby.
  • Oil producers are throwing their weight behind carbon capture and storage (CCS) technology as a global warming solution despite criticism from climate experts.
Business

UAE presents its maritime contributions at IMO meet in UK

DUBAI, UAE - Presenting its category B candidacy in the International Maritime Organization (IMO) Council at the organization’s focus group...
  • The UAE’s strategic location at the crossroads of global shipping routes has enabled it to become a central maritime hub in the world.
  • The country has strived to achieve continuous development in the maritime industry, which is a key pillar of its national economy.
Business

Eve Air Mobility, flynas ink MoU

The firms will explore starting eVTOL services in Saudi Arabia.
  • The agreement will contribute to Saudi Arabia’s aviation industry by building the ecosystem for electric flights.
  • flynas operates over 1,500 weekly flights to over 70 domestic and international destinations.
Business

Google to pay Canadian media $73m annually after a deal with Ottawa

Ottawa, Canada -- The Canadian government and Google have reached a deal to support the country's media, heading off an...
  • The amount is less than the government-estimated compensation, but heads off a potential online blackout for news in Canada, where Google and Meta are the dominating platforms.
  • The agreement will reportedly allow Google to negotiate with a single group representing all Canadian media, rather than one-on-one deals.
Business

FAB becomes first MENA bank to publish TCFD climate report

Abu Dhabi, UAE -- First Abu Dhabi Bank (FAB) became the first MENA bank to publish a Task Force for...
  • The TCFD standard, promoted by the Financial Stability Board since 2015, urges entities to specify the resilience of their strategies to climate-related risks.
  • The report delivers on FAB’s 2019 commitment to agree to adopt TCFD recommendations into its reporting and disclosure processes.
Business

Saudi Arabia’s PIF to buy 10 percent stake in London’s Heathrow airport  

Saudi Arabia's sovereign wealth fund is to buy 10 percent of London's Heathrow airport from Spanish infrastructure giant Ferrovial, whose...
  • Heathrow, which is one of the world's busiest airports, is owned by the consortium FGP Topco Limited.
  • Ferrovial bought its stake in Heathrow in 2006 and initially held 56 percent of the hub, before reducing its interest.
Business

Aster to separate its India and GCC businesses

Dubai, UAE - Aster, an integrated healthcare provider, is separating its India and GCC businesses, subject to regulatory and corporate...
  • Under the plan, a consortium led by Fajr Capital has entered into an agreement to acquire a 65% stake in the ownership of the GCC business
  • The separation plan will unlock value for the shareholders by allowing both the India and GCC businesses to adopt a market-focused strategy
Economy

SUV sales ‘offset’ carmakers’ electric gains: Greenpeace

The SUVs produced by Toyota, Volkswagen, and Hyundai-Kia have all posted sales increases of more than 150% over the past...
  • Greenpeace report said that SUVs emit approximately 12 percent more carbon dioxide than sedans
  • Volkswagen SUV sales soared by 270% over the last 10 years, while Toyota SUV sales have risen by 158%
Economy

Iran’s exports to African countries register 185 percent growth

Tehran, Iran--Iran’s export to African countries in the first seven months of the current Iranian calendar year registered a 185...
  • The Islamic Republic's exports to Africa from March 21 to October 22, 2023 showed a more than 185 percent growth
  • According to an Iranian official, the country would witness $5bn worth of trade with Africa in the next few years

Amazon releases AI chatbot

"Q" will be available only to the company's AWS cloud.
  • "Q" will be available only to Amazon's AWS cloud computing customers and will be in direct competition with ChatGPT as well as Google's Bard and Microsoft's copilots
  • Costing $20 monthly per user, Amazon Q will perform a variety of tasks including summarizing uploaded documents and answering questions about specific data

US defends forcing sale of TikTok app

TikTok's suit argues this violates First Amendment rights of free speech.
Business

Company News

Borouge to pay $650m H1 dividend

EGA H1 net profit $533 million

Gulf Bank to up paid-up capital

Alantra sets up base in DIFC

Lego first half profit dips 17%

Latest News

ADNOC buys 25% stake in OMV

The OMV is headquartered and listed in Vienna, Austria.
Business

Digital transfers reshape MENA’s financial landscape

The region sees a robust future for digital cross-border transfers in the Middle East, marked by innovation and a strong...

WTO ministers struggle to forge deals as talks go into overtime

ABU DHABI, UAE – World trade ministers were locked in disagreement Thursday on fisheries subsidies, agriculture and digital customs duties as...
Geostrategy

Most Read

Business

QFC signs two MoUs

MoUs with BFB, Partior were inked during Web Summit 2024.
  • The MoU with Bahrain FinTech Bay establishes comprehensive frameworks for cooperation in joint research projects.
  • Under the MoU, each entity shall provide support, assistance and resources to start-ups from the QFC and BFB.
Business

Abu Dhabi residential sector achieves record growth in 2023, says report

ABU DHABI, UAE - Abu Dhabi’s residential sector has witnessed one of the best years on record, where a total...
  • The increase in demand for residences has been driven by several positive initiatives and announcements by the government.
  • Off-plan transactions accounted for approximately 84 percent of all villa and townhouse transactions.

British Airways profit soars six-fold

The company said it was 92% booked for the first quarter of 2024.
  • Profit after taxation jumped to 2.7 billion euros ($2.9 billion) in 2023 from 431 million euros in 2022, the airline conglomerate said in a results statement
  • The company also issued a rosy outlook rooted in "robust" demand, adding that it was 92-percent booked for the first quarter of 2024 and 62-percent booked for the first half