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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.

JPMorgan to launch ‘Pay With Your Face’ Shopping

JPMorgan Chase is reportedly preparing to launch a biometric payments system for the masses, the Daily Hodl reported quoting the American...

Business

Saudi Arabia partners with Microsoft Arabia for AI use in media

Riyadh, Saudi Arabia - The Ministry of Media and Microsoft Arabia signed a memorandum of understanding (MoU) in Riyadh on...

Business
Geostrategy

Saudi Arabia, CARICOM countries hold first summit for strategic partnership

RIYADH, SAUDI ARABIA - Since its foundation, the Kingdom has been keen to build bridges of communication with all the...
  • The convening of the summit will contribute to mutual support for various global nominations of the Kingdom and CARICOM, including Saudi Arabia's bid to host Expo 2030.
  • It will enhance coordination on regional and international issues of common interest, boosting tourism cooperation, and highlighting Saudi Arabia's tourist attractions.
Business

EDGE to supply metallic machined parts to Boeing

Abu Dhabi, UAE – EDGE, an advanced technology group specialising in precision engineering in the UAE’s aerospace, oil & gas,...
  • The company will execute the procurement of raw materials, machining parts, and surface treatment processes
  • EDGE manufactures high-quality complex engineering components for the defence, aerospace and oil & gas sectors
Business

Dubai Investment posts profit

Its income for the first nine months of 2023 is US$816m.
  • The company reported a net profit of $222.46 million for the nine-month period ended September 30, 2023
  • The diversified investment company listed on the DFM said its total assets reached $5.71bn at the end of Q3 2023
Economy

Bahrain and Russia look to boost economic cooperation

Manama, Bahrain-- Bahrain and Russia have held discussions to enhance cooperation in various fields of the two countries' economies. In...
  • The Bahraini oil minister spoke highly of the Bahraini-Russian relations and their steady progress across various domains, including in the energy sector
  • The Russian official expressed his country’s keenness to further bolster its cooperation with the kingdom in various fields, wishing Bahrain further prosperity
Economy

Iran and Russia diplomats hold discussions on BRICS

Tehran, Iran--Senior Iranian and Russian diplomats held talks in Tehran to discuss the BRICS group and its fields of activities...
  • The Iranian sides reiterated the Islamic republic's commitment to playing an "effective and constructive role in it" and resolved to participate in all activities in the grouping
  • The Russian delegation enumerated the country's priorities in regard to BRICS during their presidency and presented a briefing on the history and background of the group's actions
Business

Indian film company to operate cinemas in Saudi Arabia

Dubai, UAE - Mukta A2 Multiplex WLL, the international subsidiary of Mukta Arts, one of India's leading film production houses,...
  • We are thrilled to contribute our expertise and commitment to delivering top-notch entertainment within the region, Rahul Puri, MD, said.
  • Puri added that their strategy revolves around contractual agreements geared toward providing superior management and operational services
Business

Sharjah Civil Aviation Department and WFP sign aviation-safety agreement

Sharjah, UAE--The Sharjah Civil Aviation Department (SCAD) and the United Nations' World Food Programme (WFP) have signed an agreement to...
  • The WFP's Regional Aviation Safety Office will hold training sessions, seminars, conferences, and special projects, in order to benefit both parties
  • The Sharjah Civil Aviation Department will send qualified lecturers and trainers to conferences, workshops, and other events hosted by the WFP
Business

LNG trade to grow 25% to 500m tons in 5 years: IEF

According to a report "Fragile Equilibrium: LNG Trade Dynamics and Market Risks" China has surged ahead of Japan to become...
  • LNG's share of gas demand in Europe rose from 12 percent a decade ago to more than 50 percent
  • Faced with the sudden loss of pipeline gas, Europe turned to LNG to fill the void, sending prices up
Business

UAE warns of visa ban over job loss insurance fines

ABU DHABI, UAE - Some employees who failed to meet an October 1 deadline to sign up to the UAE's...
  • Subscribers to the unemployment insurance scheme can make a single payment to cover the year's subscription or quarterly or monthly payments.
  • The policy aims to provide a vital safety net for workers in the public and private sector if they lose their job.
Business

Alstom to cut 1500 jobs

Alstom said it aims to cut debt by 2 billion euros by March 2025.
  • Alstom posted last month a negative cash flow of 1.15 billion euros ($1.25 billion) in the first half of its fiscal year.
  • The group said it was working on a "comprehensive operational, commercial, and cost efficiency plan" to reinforce its balance sheet.

JPMorgan to launch ‘Pay With Your Face’ Shopping

JPMorgan Chase is reportedly preparing to launch a biometric payments system for the masses, the Daily Hodl reported quoting the American...
Business

Company News

QEWC reports 12% profit jump

Dlala posts net loss in H1

Siemens Energy posts Q3 loss

Toshiba readies deal to go private

Milaha posts marginal profit in H1

Latest News

Hyperloop progress: Racing ahead or falling behind?

Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023...
Business

Hyperloop progress: Racing ahead or falling behind?

Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023...
Business

WTO launches US$50m fund for women entrepreneurs in developing countries

ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund...
Geostrategy

Most Read

Economy

Qatar to ramp up gas output with new mega field expansion

At the start of this month, Qatar said it would supply 7.5 million tonnes of LNG per year for 20 years...
  • The expansion, will add a further 16 million tons of LNG per year to existing expansion plans
  • Qatar is one of the world's top LNG producers alongside the United States, Australia and Russia
Economy

Saudi Arabia announces major gas discovery in Jafurah

Riyadh, Saudi Arabia--Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz revealed on Sunday that an additional 15 trillion...
  • The Saudi energy minister said that reserves at Jafurah had reached 229trn cubic feet of gas and 75bn barrels of condensates
  • The Jafurah gas field, in Saudi Arabia's eastern province, is the largest liquid-rich shale gas play in the Middle East
Business

Ford halts shipment of F-150 EVs

It will carry out quality checks on pickup trucks.
  • The automaker said the shipments were stopped on Feb. 9, but did not say when it expected to resume shipments
  • The company began shipping this week the first newly designed gas-powered 2024 model F-150 pickups to dealers