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DAE 9M net profit $310m

The company said this was a 54.9 percent YoY increase in net profit.

ADNEC to acquire ‘Royal Catering’

Royal Catering has more than 2.500 employees.

PIF sets up sarcc company

The new entity will address growing staff accommodation demand.

Boeing to cut 10% of workforce

The company has projected a large third-quarter loss.

AviLease acquires 9 aircraft from Avolon

AviLease had purchased 13 aircraft from Avolon in 2023.

Police rescues Egyptian boy from kidnappers

The Egyptian boy snatched from his mother by two masked men while buying grocery has been reunited with parents, after...
  • Video footage captured the terrifying moment two men snatched an eight-year-old boy from his mother’s side on an Egyptian street and bundled into a car
  • his desperate mother falling to the floor as she tried to stop her son’s captors from escaping

16,000 held in five days for violating Saudi laws

In a wide crackdown against offenders violating various laws of the kingdom, Saudi Arabia has arrested 16,000 people for contravening...
  • The authorities transferred 58,317 offenders to their respective diplomatic missions to obtain travel documents
  • The Ministry of Interior said that whoever facilitates the entry of violators to the Kingdom, transports them or provides shelter or any other form of support will face imprisonmen

Drugs seized at Dammam airport

Alert officials of the Zakat, Tax and Customs Authority at King Fahd International Airport in Dammam have seized more than...
  • The authority said that smugglers are “seeking to exploit everything” to smuggle drugs into Saudi Arabia
  • The authority said that smugglers are “seeking to exploit everything” to smuggle drugs into the Kingdom

GCC seeks to tap green hydrogen demand

The GCC countries see hydrogen as a key factor in fuel transition and have drawn up plans to export green...
  • UAE first in GCC to reduce emissions by 24 percent by 2030 and to 50 percent by 2050
  • GCC countries have plenty of space, sunshine wind energy in some areas

Saudi customs seize drugs at port

Alert officials of Saudi customs prevented an attempt to bring in contraband drugs into the kingdom at Jeddah Islamic Port,...
  • The floor of the truck had been hollowed out to hide the pills in
  • Two people who were due to receive the drugs were arrested

Saudi British Bank posts $245m net profit in Q2, year after big losses

A year after posting billions in losses, Saudi British Bank (SABB), an affiliate of HSBC Holdings, has posted a sizeable...

Arab economies to grow by 2.9% in 2021, 3.6% in 2022: Report

Uneven recovery is expected as eleven Arab countries will likely recover by the end of 2022, while the recovery path...

‘Potential hijack’ of ship off UAE coast: UK maritime security agency

The MarineTraffic website, which categorises the vessel as an asphalt and bitumen tanker, said it was travelling to Sohar, a...

Israel can ‘act alone’ against Iran after ship attack: Bennet

Bennett said Israel had shared intelligence with the United States, Britain and others also tying Iran to the attack.

UAE’s non-oil economy picks up in July, strongest in two years

Latest IHS Markit UAE PMI says firms hoped easing of COVID-19 restrictions and the Expo 2020 later this year would...

Iran vows to respond if Iraq fails to disarm Kurdish rebels

Tehran, Iran - Iran on Monday warned Iraq that it would take action if Baghdad does not honor its commitment by...

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Solar switch may put off electricity crisis in Lebanon

Lebanon's energy industry sees a loss of up to $2bn every year as state treasury pays over $50bn in advances...

Marka: From a star UAE retailer to a bankrupt firm

Flouting norms, massive mismanagement and lack of transparency and corporate governance have potential to take any company the Marka Holding...

REVEALED: Billions of dollars missing from BDL

About US$7 billion is missing from Lebanese central bank’s 2020 balance sheet, data analysis by TRENDS suggests while highlighting weak...

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UAE prosecutors launch probe into Union Properties

The UAE prosecutors have begun an investigation into Union Properties, the Dubai-based real estate developer, after allegations arose of the...
  • The prosecutors will also investigate accusations that the firm hid the name of the beneficiary of the sale
  • The firm, Union Properties, known for building Dubai Motor City, has not reacted to the start of the investigation

10 worst passports in the Middle East

Which passports are among the worst in the Arab World? Know the details in this Explainer video created by TRENDS.
  • Iraq, Syria, Yemen, Palestine and Libya figure in the list. But which one is at the bottom?
  • Sudan, Lebanon, Jordan and Egypt are also listed, the latest Henley Passport Index highlights.

Have Pandora papers jeopardized Lebanon aid?

The country is already reeling under the impact of its worst-ever economic crisis, shutting down of power stations due to...
  • Offshore companies are legal and were established to reduce the tax burden on some companies that require foreign branches.
  • Lebanon was first in terms of registering individual companies in tax havens, with nearly 3 million papers leaked.