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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Global markets rise as Trump weighs future of Fed boss

US indices were near record highs two hours into the Wall Street session with all eyes on an incoming earnings...

Saudi Pro League announces long-term partnership with Maaden

Riyadh, Saudi Arabia - The Saudi Pro League (SPL) and Saudi Arabian Mining Company (Maaden) have agreed a long-term strategic...
  • The partnership will focus on strengthening Maaden’s position as an employer of choice in Saudi Arabia
  • The collaboration will also explore joint initiatives across community engagement and national talent development

Syria inks $7 bn energy deal with Qatari, Turkish, US firms

The agreement was sealed at the presidential palace in Damascus in the presence of interim President Ahmed al-Sharaa and US...

Cross-border deals fuel M&A surge in MENA region in Q1 2025

 Dubai, UAE -- The Middle East and North Africa (MENA) region has kicked off 2025 with a remarkable surge in...
  • Cross-border deals were the primary engine behind this growth, accounting for 52 percent of the total deal volume (117 deals) and 81% of the total deal value ($37.3bn).
  • The UAE cemented its position as the top target country for M&A activity in Q1 2025, attracting 63 deals totaling a substantial $20.3 billion.

Musk to exit US government role after rare break with Trump

Washington, United States - Billionaire Elon Musk on Wednesday announced he was leaving his role in US government, intended to...
  • The South African-born tech tycoon had said Trump's bill would increase the deficit and undermine the work of Department of Government Efficiency (DOGE)
  • Musk, who was a constant presence at Trump's side before returning to his businesses, complained that DOGE had become "whipping boy" for dissatisfaction with the administration

Dubai Airport tops air connectivity ranking for Asia-Pacific and Middle East

Dubai, UAE - Dubai International Airport (DXB) has once again secured the top spot in the Airports Council International’s (ACI)...
  • Paul Griffiths, CEO of Dubai Airports, hailed the recognition as a testament to the airport’s strategic importance in global aviation
  • Griffiths highlighted that DXB’s strength lies not only in the scale of its operations but also in the reliability and quality of its services

Saudi Arabia unveils ‘Colour Your Summer’ program, targeting 41 million visitors

Riyadh, Saudi Arabia -- Saudi Arabia's tourism sector is poised for an unprecedented summer season, with the official launch of...
  • It brings together over 120 partners from across Saudi Arabia's tourism ecosystem, including both public and private sectors, to offer an unparalleled array of experiences.
  • Major events include the highly anticipated Esports World Cup (EWC) in Riyadh from July to August, alongside dynamic Jeddah and Aseer Seasons.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.
  • The rigs are expected to commence operations around the end of 2Q 2025, delivering revenue in the second half of 2025 onwards.
  • This award further de-risks and reaffirms ADNOC Drilling’s current 2025 and medium-term guidance, the company said.

World’s longest diamond necklace set to break Guinness record at Sharjah show

Sharjah, UAE – Exhibitors at the 55th Watch and Jewelry Middle East Show, scheduled from May 28 to June 1,...
  • The piece incorporates more than 600 lab-grown diamonds, precisely set in 18-karat rose gold, representing a fusion of luxury aesthetics and cutting-edge production techniques.
  • The official Guinness assessment is set to take place on the first day of the 55th Watch and Jewelry Middle East Show.

ADNOC’s listed companies post over $2.3 billion net profit in first quarter

Abu Dhabi, UAE -- ADNOC Group's publicly traded portfolio companies combined to deliver over $2.3 billion (AED8.4 billion) in first...
  • ADNOC Distribution delivered first quarter net profit of $174 million (AEDAED639 million), up 16 percent year-on-year.
  • Borouge reported strong Q1 2025 results with net profit of $281 million, driven by year-on-year increases of 10 percent for sales volumes and 7 percent for production volumes.

Real estate transactions in five UAE emirates reach $65 billion in Q1

Abu Dhabi, UAE -- Real estate transactions across five emirates in the UAE surged to over AED 239 billion ($65...
  • More than 94,719 sales, purchase, and mortgage deals were recorded from January through March in Abu Dhabi, Dubai, Sharjah, Ajman, and Ras Al Khaimah.
  • Dubai accounted for the largest share, with AED 193 billion in real estate transactions, resulting from 58,039 transactions, a growth of 16.2% in value and 31.5% compared to 2024.

Dubai real estate transactions exceed $117.34 billion in first half of 2025

The number of new investors in the market reached 59,075, with investments totaling $42.74 billion, a 22 percent increase in...

Latest News

Eyeing early release, prison inmates produce Bulgaria’s coveted dairy products

Smolyan, Bulgaria -- At a prison nestled deep in Bulgaria's southern Rhodope mountains, Georgi Filyanov stirs a large tank of...

AI robots pluck weeds in California fields, make up for shortage of laborers

Los Banos, United States -- Oblivious to the punishing midday heat, a wheeled robot powered by the sun and infused...

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

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Microsoft laying off several thousand employees

San Francisco, United States -- Microsoft on Wednesday said it was slashing a little less than four percent of its...
  • The cloud computing tech giant did not disclose the total amount of lost jobs but as of June 2024 it employed 228,000 people, bringing the latest layoffs to about 9,000 people.
  • The job cuts follow a round in May that saw about 6,000 positions culled from its global workforce.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.
  • The sales figures released Wednesday, which are global, reflect the more contested nature of the EV market, which Tesla once dominated.
  • Musk's political activism on behalf of right-wing figures has also made the company a target of boycotts and demonstrations, weighing on sales.

Eight-country coalition aims to tax luxury air travel

Seville, Spain -- Countries including France, Kenya, Barbados and Spain on Monday launched a coalition to push for taxes on...
  • The coalition said it would work to increase the number of countries taxing plane tickets, including business-class travel, and private jets.
  • Greenpeace welcomed an "important step" to raise more money from "the most elite and polluting form of travel", which has remained "undertaxed".