Saudi Arabia Railways orders 10 more Stadler intercity trains
Saudi Arabia Railways (SAR) has ordered 10 more intercity trains from Swiss manufacturer Stadler, doubling its fleet of custom-built trains...
Business
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.
Business
Alpha Dhabi profit jumps 48%
AI and technology investments boost earnings.
- First-half revenue rose 5 percent to $10.24 billion, while adjusted EBITDA increased 7 percent to $2.53 billion year-over-year.
- Fair value investment gains reached $1.01 billion, driven by holdings in SpaceX, Cerebras and Anthropic alongside portfolio diversification efforts.
Business
Agthia profit, dividend jump
Transformation lifts earnings, cash generation.
- First-half revenue rose 7.4 percent to $708 million, while EBITDA increased 35.8 percent as margins expanded significantly.
- Free cash flow reached $142 million, net debt leverage declined sharply, prompting a 14.4 percent higher interim dividend recommendation.
Analysis
GCC lenders should reassess credit risks continuously
Today's environment calls for continuous reassessment rather than periodic review. Institutions need to challenge assumptions, stress-test portfolios against multiple scenarios,...
- KPMG urges GCC financial institutions to strengthen credit resilience through scenario analysis, governance and dynamic portfolio monitoring amid uncertainty.
- Analysis identifies retail, corporate and commercial real estate portfolios as key pressure points under prolonged geopolitical and economic disruption.
Company News
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Emerson to build new automation solutions service center in Qatar
Emerson, a global automation solutions company, said on Wednesday it plans to build a new solutions service center in Qatar's...
Business
UAE sets 5.06 percent profit rate for retail T-Sukuk
The UAE Ministry of Finance set a 5.06% annual profit rate for its second five-year Sovereign Retail T-Sukuk issuance. Subscriptions...
Business
UAE tops Arab Digital Economy Index 2026
The UAE topped the Arab Digital Economy Index 2026, with the assessment highlighting regional gains in infrastructure, digital government and...
Business
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Business
PIF launches digital platform Tawrid for providing supply-chain financing
The Public Investment Fund (PIF) has announced the launch of Tawrid Company for Financing Solutions, an innovative digital platform providing...
- Tawrid has obtained the Saudi Central Bank’s (SAMA) permit to operate under the regulatory “Sandbox” environment, Argaam reported.
- Tawrid has started operations and has already signed binding agreements with local banks and companies.
Business
Qatar launches platform to manage wealth fund domestic portfolio
Qatar’s new investment platform will manage the wealth fund’s domestic portfolio as Doha targets $60 billion in infrastructure and private...
- Qatar expects $38.5 billion in infrastructure projects and $22.5 billion in private real estate and hospitality investment over five years.
- The strategy comes amid disrupted LNG exports, risky Hormuz shipping and Doha’s efforts to strengthen economic resilience through diversification.
Business
Dubai’s ATM 2026 closes with record Asia-GCC travel data, tourism rebound
The 33rd edition, held under the theme "Travel 2040: Driving New Frontiers Through Innovation and Technology," saw the launch of...
- It also saw the launch of the UAE Grand Tour digital platform mapping a single route through the seven emirates.
- Emirates signed 11 memoranda of understanding during the show, while Rotana unveiled a pipeline of 40 hotels and more than 8,300 keys.