This is a temporary backup site for TRENDS MENA while our primary website is being restored following a regional disruption affecting Amazon Web Services cloud infrastructure in the GCC.

Search Site

VideosInforgraphics
Sign inSubscribe

Company News

Empower okays $119.1m H2 2025 dividend

The dividend is equivalent to 43.75% of paid-up capital.

Alujain widens 2025 loss

The increase in loss is due to impairment charges, weaker prices.

Masar 2025 net profit $262m

Higher land plot sales boost revenue and operating income.

Tasnee’s 2025 losses deepen

The petrochemicals' company's revenue also fell 17.7 percent.

DP World 2025 revenue $24.4bn

The profit for the year up 32.2% to reach $1.96bn.

Burjeel Holdings net profit up

The company’s 2023 annual revenue rises to US$1.2 billion.

Business

Salik revenue soars to US$574m

Toll usage revenue rose 11.7% YoY to US$502million.

Business
Business

VMware takeover by Broadcom okayed

Broadcom is seeking to expand into the software market.
  • The Competition and Markets Authority said the deal "would not weaken competition in the supply of critical computer server products".
  • The CMA in March said the deal could harm innovation and drive up the cost of computer parts used by key clients including banks, retailers and telecoms.
Business

Goldman Sachs Q2 profits at $1.1bn

Profit fell due to anemic M&A market, weakness in trading.
  • The big investment bank has essentially abandoned a once-touted push to compete with retail banks for Main Street consumers.
  • Goldman also suffered a drop in its other main division, asset and wealth management, citing net losses and markdowns in real estate.
Business

Microsoft, Activision gaming deal deferred

July 18 was the cut off point to finalize the $75bn deal.
  • The deal for Microsoft to acquire Activision now gets pushed by three months to October 18.
  • In return, Microsoft agreed to pay Activision an increased break-up fee in case either side walks away from the deal.
Business

Tata to build car battery factory in UK

The $5.2bn factory is expected to create up to 4,000 jobs.
  • The factory is Tata's first giga facility outside India, and will be built in Somerset, southwest England.
  • The British government said the new manufacturing facility is expected to provide almost half of the battery production that the UK will need by 2030.
Business

Almarai trust certificates raise $750m

The dollar-denominated certificates have annual return of 5.23%.
  • Almarai told Tadawul in a statement that the certificates will be listed on the Irish Stock Exchange under Euronext Dublin.
  • The certificates were issued under the $200 million Trust Certificate Issuance Program updated by the company on July 14. 
Business

SALIC buys 10.7% stake in BRF

The deal is worth US$266 million (SAR1.27 billion).
  • SALIC is fully owned by the Public Investment Fund.
  • Brazilian firm BRF is a global leader in the poultry sector.
Business

ADIA acquires hotel portfolio

The portfolio comprises 27 hotels across Japan.
  • The portfolio was acquired from Daiwa House Industry for $900 million and comprises a total of 7,124 hotel rooms.
  • The acquisition was made along with a consortium led by Singapore-based private equity real estate firm, SC Capital Partners and Goldman Sachs Asset Management.
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

Burjeel Holdings net profit up

The company’s 2023 annual revenue rises to US$1.2 billion.
Business

Company News

Emaar 9M net profit $1.1bn

AstraZeneca Q3 profit swells

Al Ansari 9M profit US$105m

Emirates Group H1 net profit $2.7bn

ADIB issues green sukuk

Latest News

Avalon sets sights on Tadawul listing

The firm will offer 6 million shares in its Initial Public Offering.
Business

Dragon Oil, Turkmennebit ink MoU

Aim is to expand Dragon Oil’s investments in Turkmenistan.
Business

Tesla to recall 1.6m EVs in China

China is a vital component in US-based Tesla's global layout.
Business

Most Read

Business

Penguin, SkyBlue ink MoU

The aim is to redefine outdoor media advertising in Abu Dhabi.
  • Penguin and SkyBlue will collaborate on key advertising locations, with this being the Malaysian firm’s first move into the Abu Dhabi market.
  • This follows an agreement between the Malaysian outdoor advertising company with the Road and Transport Authority (RTA), Dubai.
Business

SRC, Alrajhi extend refinancing pact

The agreement was extended by an additional $1.54 billion.
  • The extension of this agreement marks a significant stride in advancing the goals of the Vision 2030 Housing Program, said Majeed Fahad Alabduljabbar, CEO of SRC.
  • SRC was established in 2017 by the Public Investment Fund after obtaining a license from Saudi Central Bank to operate in the market.
Business

Noatum buys APM Terminals Castellón

Noatum Terminals is the terminals ops business of Noatum Group.
  • The agreement, which was reached with APM Terminals, has obtained all regulatory and stakeholder approvals and the change of ownership will happen immediately
  • In parallel, a long-term agreement with the stevedoring union has been achieved which will assure stability and high productivity in the coming years