SEC to raise $2bn from sukuk
Business
Hotpack to build plant in KSA
Business
GKSD to invest in Middle East
Business
Xiaomi launches first electric car
The car manufactured by Xiaomi likely to enter market by 2025.
Business
SES seeks merger with Intelsat
Business
Aramco JV HAPCO breaks ground
Business
ADNOC makes logistics push
Business
Alibaba to split into six groups
Business
Emirates ‘stewardess’ on top of Burj Khalifa
The new advertisement has gone viral on social media.
- The 33-second ad shows what appears to be an Emirates stewardess atop the Burj Khalifa, the tallest building in the world
- The woman is seen thanking the United Kingdom for removing the UAE red list and onto the amber one
Business
Nissan unveils new safety tech in Middle East
The suite is called Nissan Intelligent Mobility or NIM, and is aimed at preventing automotive fatalities.
- The newest addition to the NIM suite, the ProPILOT, was premiered in the region on the 2021 Nissan Altima
- ProPILOT can automatically increase or decrease the vehicle’s speed to maintain a set distance from other vehicles
Abu Dhabi Ports plans uninterrupted gas supply for customers
The system modernization will take place over the next several months as part of a continuous comprehensive zone development plan.
MG Cars unveils first ever all-electric SUV in Qatar
The electric car is capable of travelling for 335km NEDC on a single battery charge
- Stylish, compact SUV is first pure electric model from MG in the Middle East
- The electric car is capable of travelling for 335km NEDC on a single battery charge
Dubai Investments profits surge 47%
The Dubai-based firm's net profits rose to AED302 million in the first half of this year.
- Growth attributed to enhanced performance of the manufacturing. contracting and investment segments
- The group's total income in H1 increases by 51 percent to AED1.72 billion as it ramped up property sales
Bahrain Telecom announces 5% hike of H1 net profit to $99.5m
Batelco said the steady rise in revenues in H1 2021 led to the increase in net profit.
HSBC MENA’s pre-tax profit at $700m in H1
Economic recovery in the region helps the bank post $386 million profit in the June quarter.
Alba Q2 profit jumps 665% to $246m
Aluminium Bahrain posted Q2 2021 profit of BD92.6 m after loss in 2020 .
Saad Toma new GM of IBM Middle East and Africa
Toma succeeds Takreem El-Tohamy, who has been appointed GM, Global Strategic Sales.
Samsung reports 73.4% surge in profit in Q2
The firm painted an optimistic view for the remainder of the year.
Company News
Lufthansa to sell catering unit
Business
SEC to raise $2bn from sukuk
Business
Hotpack to build plant in KSA
Business
GKSD to invest in Middle East
Business
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Petrofac shares surge
Business
SES seeks merger with Intelsat
Business
Aramco JV HAPCO breaks ground
Business
ADNOC makes logistics push
Business
Tata to build car battery factory in UK
The $5.2bn factory is expected to create up to 4,000 jobs.
Business
Almarai trust certificates raise $750m
The dollar-denominated certificates have annual return of 5.23%.
Business
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Business
Riyad Bank H1 profit up 27%
The rise attributed to increase in total operating income.
- However, this was partially offset by a drop in gains on disposal of non-trading investments, net fee and commission income, and dividend income.
- The three-month net profit jumped 23 percent to SAR 1.98 billion from SAR 1.61 billion in Q2 2022.
Business
Dar Al Arkan issues sukuk of $600m
issuance is the ninth tranche Sukuk program in US dollars.
- The maturity period is of five years at a profit rate of 8 percent annually.
- The issuance order book reached US$1.64 billion (SAR 6.15 billion).
Business
QatarEnergy 2022 net profit $42.46bn
QE is working to increase LNG production capacity by 64%.
- The company's bumper profits sprang from an increased demand for liquefied natural gas (LNG) spurred by Russia's invasion of Ukraine.
- Nearly 40 percent of all LNG in the international market will come from QatarEnergy by 2029