CI Capital 2023 revenue $134m
The firm’s performance was fueled by strong growth.
ESG H1 net profit $162m
Business
ExxonMobil Q2 profits $7.9bn
Business
China Eastern Airlines to operate three weekly fights between Shanghai and Riyadh
Riyadh, Saudi Arabia - The Saudi Air Connectivity Program (ACP) and China Eastern Airlines have entered into a strategic partnership...
Business
PIF sets up tourism firm Asfar
Business
Italy’s Eni Q2 profits down
Business
Tabreed H1 23 net profit $105m
Business
SAB H1 profit up 59%
Business
Business
ADNOC acquires drilling units
The two premium jack-up units will be operational in Q3 2022.
- The units, being acquired from Well Target Five Limited and Well Target Six Limited, are Gusto MSC design, premium independent leg cantilever rigs.
- Since listing on the Abu Dhabi Securities Exchange in October 2021, ADNOC Drilling has expanded its fleet from 96 to 104 owned rigs.
Business
East Pipes lands $131m deal
The firm will supply pipes to Saline Water Corporation.
- The financial impact of the one-year deal will be seen in the company's fiscal year 2022-2023
- Established in 2010, East Pipes specializes in the manufacturing of steel pipes and joined the Saudi stock exchange earlier this year
Economy
Egypt looks to double exports to $100bn: PM
Egypt has set its eyes upon doubling exports to $100 billion in the next few years, and building a 'strategic...
- Madbouly said the world is today witnessing governments and peoples suffering from inflation and high prices
- He pointed out that integration and coordination with the UAE and Jordan will contribute to achieving an important part of self-sufficiency
Business
Mercedes boss hints at changes to keep Monaco race alive
Mercedes team chief Toto Wolff on Sunday hinted at what may be needed for the under-threat Monaco Grand Prix to...
- Formula1 race promoters seek to extend the event’s contract with commercial rights holder Liberty Media
- F1 is important for Monaco and Monaco is important for F1, but need positive approach, says Toto Wolff
Economy
UAE, Egypt, Jordan partner for sustainable economic growth
The countries allocated a US$10bn investment fund, to be managed by ADQ Holding, to accelerate the partnership objectives.
- The countries allocated a US$10bn investment fund, to be managed by ADQ Holding, to accelerate the partnership objectives
- The partnership seeks to enhance growth across food and agriculture, fertilisers, pharmaceuticals, textiles, minerals, and petrochemicals
Business
KSA eyes economic diversification with PIF-KHC deal
Public Investment Fund’s stake purchase in Kingdom Holding is part of the Saudi Arabia’s Vision 2030, Arun Leslie John, Chief...
- Kingdom Holding Company recently signed an agreement with the Public Investment Fund to sell 625 million shares, representing 16.87% of the company’s share capital
- The PIF, which manages over $600 billion in assets, is at the center of Mohammed bin Salman’s ambitious agenda to diversify the Saudi economy away from oil
Business
Shipment value of Saudi cargo trains increases by 25 percent
The shipment value of cargo trains of the Saudi Railway Company (SAR) has increased by 25 percent at the end...
- The trains transported in excess of 5.5 million tons of minerals and goods.
- The levels of traffic safety increased as cargo trains crossed over 1.2 million kilometers.
Business
Saudi Chambers, French group to cooperate in entertainment sector
The Federation of Saudi Chambers, represented by the Saudi-French Business Council, will host a key French delegation representing the entertainment...
- The French delegation comprises 30 business owners and major French entertainment companies in the field of amusement parks, and manufacturing sports products.
- Some 100 business owners and Saudi entertainment companies and the national entertainment committee at the federation could participate in the meeting.
Economy
Dubai ranks second globally in attracting FDI in creative economy
Dubai ranked first in the Middle East and North Africa (MENA) region and second in the world in attracting foreign...
- Surpassing other major cities such as New York, Singapore and Berlin, Dubai improved its rankings from fifth in 2020.
- In terms of the number of new jobs in the creative economy, Dubai held on to its top rank regionally and fourth globally with 6,204 new jobs created from FDI.
Business
Fujairah Cement off Boursa Kuwait
The company has obtained approval of Capital Market Authority-Kuwait to do so.
- Fujairah Cement has obtained approval of Capital Market Authority-Kuwait for voluntary withdrawal from the Boursa Kuwait
- November 30, 2022, will be the last day for trading the Company's shares in Boursa Kuwait, says Fujairah Cement
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CI Capital 2023 revenue $134m
The firm’s performance was fueled by strong growth.
Company News
ESG H1 net profit $162m
Business
ExxonMobil Q2 profits $7.9bn
Business
Latest News
PIF sets up tourism firm Asfar
Business
Italy’s Eni Q2 profits down
Business
Tabreed H1 23 net profit $105m
Business
Fintech innovations reshape GCC’s banking landscape
The region's fintech growth, fueled by a tech-savvy populace, robust regulations, and digital adoption, is drawing global focus, heralding the...
Business
Farmers turn to solar power in Syria’s former breadbasket
Al-Haddadiya, Syria - At his farm in Syria's northeast, Abdullah al-Mohammed adjusts a large solar panel, one of hundreds that have...
Business
QatarEnergy awarded new Egypt offshore exploration block
Doha, Qatar -- QatarEnergy has been awarded a new exploration block offshore Egypt as part of the 2022 EGAS International...
Business
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Business
Jericho pins tourism hopes on UNESCO listing
Despite many cultural treasures, there were only 32,535 hotel guests in the Jericho area in the first half of this...
- Jericho drew international attention in September when it was added to UNESCO's World Heritage List.
- The city also draws visits by Israeli Arabs, descendants of Palestinians who stayed on their land after Israel's creation in 1948.
Business
Saudi Arabia to continue voluntary oil cut until end of Dec 2023
The Kingdom's production in the coming months November and December will be approximately 9 million barrels per day, the country's...
- Riyadh, the world's biggest crude exporter, first announced its cut after a June meeting of the 23-nation OPEC+ alliance, which also includes Russia.
- That decision riled the United States, which at the time accused Saudi Arabia, a security partner, of siding with Russia in the war in Ukraine.
Business
flynas adds 5 Airbus A320neo, total fleet now 56
Riyadh, Saudi Arabia – Saudi “flynas” airline announced the delivery of five A320neo aircraft to increase its all-Airbus fleet to...
- The latest deliveries come as part of the expansion plan launched under the title "We connect the world with the Kingdom."
- flynas connects more than 70 domestic and international destinations with more than 1,500 weekly flights