Hidden liabilities behind major property deals
UAE property investors must look beyond certificates to uncover hidden fire-safety risks that could affect costs, valuations and returns, writes...
Opinion
Syria processes first international card payment in 15 years
Dubai, UAE -- Syria has processed its first international card payment in more than 15 years, Mastercard and QNB Group...
Business
Business
ADNOC Gas posts $665 million in H1 net income
The company also raised its target for EBITDA growth to 60 percent by 2030, compared with 2023, up from its...
- Fatema Al Nuaimi, CEO of ADNOC Gas, said the company was accelerating one of the world's largest gas-processing growth programmes.
- The board approved a quarterly dividend of $940 million, payable in September, in line with the company's commitment to annual dividend growth of 5 percent through 2030.
Business
World Governments Summit, WTTC launch tourism partnership
The World Governments Summit Organisation and the World Travel & Tourism Council have launched a strategic partnership to advance global...
- The partnership seeks more flexible, sustainable policies that strengthen tourism’s contribution to investment, economic growth, job creation and international cooperation.
- Cooperation will focus on global dialogues, knowledge exchange and future-ready initiatives designed to help the sector adapt to changing conditions.
Opinion
Cyber resilience is more than recovering from an attack
The question is no longer if an organization will experience a cyber incident. It is how well it will respond...
- Organizations increasingly adopt "assume breach" strategies, prioritizing detection, response and recovery alongside traditional preventive cybersecurity investments today.
- AI and automation accelerate threat detection and recovery, while boardrooms increasingly measure cybersecurity through business resilience outcomes instead.
Business
ADNOC L&S to expand fleet
It will acquire 11 carriers for $1.3bn.
- Acquisition includes nine vessels entering service this quarter, with two Chinese-built gas carriers scheduled for fourth-quarter delivery.
- The company said the acquisition would provide near-term operational and earnings potential while increasing the scale, flexibility and resilience of its shipping platform.
Business
Emaar Properties posts 23 percent rise in H1 net profit to $3.5 billion
Founder Mohamed Alabbar said the results reflected Emaar's disciplined approach and Dubai's continued economic expansion, adding that the company would...
- Property sales reached AED26.6 billion as revenue backlog climbed 13 percent, providing strong visibility for future earnings recognition, the company said.
- Developer unveiled AED200 billion masterplan while expanding residential portfolio with 11 launches across Dubai and boosting international operations.
Business
Empower profit climbs 16%
Dubai district cooling demand lifts earnings
- First-half revenue rose 4.5 percent as EBITDA increased 7.5 percent, supported by growing district cooling demand across Dubai developments.
- Empower added 61 contracts, lifting contracted capacity above two million refrigeration tonnes as connected buildings increased to 1,796.
Business
Burjeel profit nearly doubles
Healthcare demand drives stronger earnings.
- First-half revenue rose 4.4 percent to $761 million while adjusted net profit nearly doubled on stronger healthcare demand.
- Burjeel completed $500 million sukuk issuance, refinancing debt while maintaining stable leverage and strengthening liquidity for future growth.
Business
Sharjah real estate deals jump 62 percent in July
Dubai, UAE -- Real estate transactions in Sharjah rose 61.8 percent in July from the previous month to AED7 billion...
- Sharjah real estate transactions climbed 61.8 percent month-on-month to $1.91 billion as transaction volumes increased 25.3 percent in July.
- Largest land sale reached AED850 million while mortgages totaled AED1 billion, highlighting sustained investment across 129 areas statewide.
Business
Salik profit slips in H1
The company said traffic recovery supported resilience.
- H1 revenue declined 7.5 percent to AED1.41 billion ($384.4 million), while net profit fell 8.7 percent to AED704 million ($191.7 million).
- Company expanded digital mobility partnerships despite weaker traffic, reaffirming confidence in long-term ancillary revenue growth and Dubai's economic outlook.
Business
Aramco profit jumps as oil prices surge despite Hormuz disruption
Saudi oil giant Aramco reported a 44 percent jump in second-quarter net profit on Wednesday, helped by higher crude oil...
- Second-quarter net income climbed 44 percent to $32.7 billion as higher oil prices outweighed lower crude sales volumes.
- Aramco maintained exports despite Hormuz disruption, declaring a $21.9 billion dividend while advancing major oil and gas projects.
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Hidden liabilities behind major property deals
UAE property investors must look beyond certificates to uncover hidden fire-safety risks that could affect costs, valuations and returns, writes...
Opinion
Company News
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Borouge okays $656m dividend
Business
Emarat, Dell Technologies sign AI adoption agreement
Emirates Petroleum Company P.J.S.C. (Emarat) has signed a memorandum of understanding with Dell Technologies to accelerate artificial intelligence adoption and...
Business
Etihad Airways becomes first airline to accept Jaywan payments
Etihad Airways has become the first airline to accept Jaywan, the UAE’s national domestic card scheme, for flight bookings on...
Business
Saudi POS transactions fall to $3.8 billion in week ended Aug 15
Dubai, UAE -- Point-of-sale transactions in Saudi Arabia fell to nearly $3.79 billion in the week ended Aug. 15, from...
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Business
Middle East Energy expects 1,528 exhibitors for 50th Dubai edition
Middle East Energy will host its 50th edition in Dubai next month with 1,528 global energy companies confirmed to exhibit,...
- The exhibition will run from Sept. 1 to 3 at Dubai World Trade Centre under the patronage of the UAE Ministry of Energy and Infrastructure.
- Buyers participating in the event's Energy Club have more than $98 billion in live energy projects across the Middle East, Africa and South Asia, organisers said.
Business
Masdar, ScottishPower complete foundations at East Anglia THREE
Abu Dhabi Future Energy Company PJSC (Masdar) and ScottishPower Renewables have completed installation of all 95 foundations at the £4...
- The project has completed its foundation phase as turbine installation passes halfway, with construction continuing toward a planned end-2026 operation.
- The development is supporting thousands of construction jobs and has directed almost £2 billion toward Britain's domestic renewable-energy supply chain.
Economy
70% Saudization for project management jobs from February 2027
Saudi Arabia's Ministry of Human Resources and Social Development (HRSD), in partnership with the Ministry of Municipalities and Housing (MOMAH),...
- The decision covers private-sector establishments employing at least three workers in targeted project management professions.
- Support includes recruitment, training, qualification, job retention and priority access to Saudization programs for covered employers.