Hamas says weapons are ‘legitimate right’, open to proposals that preserve it
"Resistance and its weapons are a legitimate right guaranteed by international law and are linked to the establishment of a...
Geostrategy
Mediators Qatar and Egypt call for next steps in fragile Gaza truce
"Now we are at the critical moment... A ceasefire cannot be completed unless there is a full withdrawal of the...
Geostrategy
Business
Amlak 2023 net profit $70m
The company's revenue fell by 18 percent in 2023.
- Revenues from financing business activities for the year 2023 declined by 3 percent as compared to 2022 and stood at AED 122 million in 2023 (FY22: AED 127 million).
- The company recorded a net gain of AED174 million (2022: AED 349 million) on debt settlement arrangements and was able to reduce its debt burden by AED531 million.
Business
Borouge approves $1.3bn dividend for 2023
The company intends to pay $1.3bn in dividend for 2024 also.
- Borouge recorded $1 billion in net profit in 2023 and its $607 million Value Enhance Programme contributed a significant 28 percent to 2023 EBITDA.
- Borouge said it outperformed its regional and international peers with one of the highest EBITDA margins in the industry at 38 percent.
Science
What do scientists hope to learn from total solar eclipse in US?
Washington, United States -- When a rare total solar eclipse sweeps across North America on April 8, scientists will be able...
- Total solar eclipses offer "incredible scientific opportunities," NASA Deputy Administrator Pam Melroy told a press conference this week about the celestial event.
- Startling animal behavior has been noted during eclipses: Giraffes have been seen galloping, while roosters and crickets can start crowing and chirping.
Business
DEWA okays $844m dividend
In 2023, DEWA's revenue exceeded $7.8 billion, its highest ever.
- The company's operating profit was over AED 8.7 billion and EBITDA was over AED 14.7 billion.
- It recorded the highest annual power generation of 56.1 TWh, which includes clean power generation of 6.2 TWh.
Business
flydubai adds two Saudi destinations
Flights to Al Jouf Airport and Red Sea Airport to start from April 18.
- flydubai has built a network of 129 destinations across 58 countries and is served by a fleet of 86 Boeing 737 aircraft.
- Since the start of 2024, flydubai has inaugurated operations to Langkawi, Mombasa and Penang and has announced the start of flights to Basel, Riga.
Geostrategy
Palestinian Authority president approves new government
Prime Minister Mohammed Mustafa, who presented the government and aims to see it play a role in post-war Gaza said...
- He added that his cabinet "will work on formulating visions to reunify the institutions, including assuming responsibility for Gaza".
- The new government is made up of 23 ministers, including three women and six Palestinians from Gaza, among them former Gaza City mayor Maged Abu Ramadan.
Business
Emirates retains fourth most valuable airline brand status
Dubai, UAE -- UAE carrier Emirates defended its title as the fourth most valuable airline brand, with a staggering 30...
- The UAE carrier witnessed 30 percent increase in brand value, reaching $6.6 billion, according to Brand Finance, a brand valuation consultancy.
- Qatar Airways (brand value up 27 percent to $3.1 billion) is the second most valuable Middle Eastern brand.
Geostrategy
Cross-border fire between Hizbollah and Israel leaves 16 dead
Israeli rescue teams searching a damaged building in the border town of Kiryat Shmona "found a 25-year-old who was unconscious,...
- Hizbollah said it had fired a barrage of rockets into northern Israel after its neighbour carried out a deadly strike on southern Lebanon
- The pro-Iranian movement said four of its fighters and two rescuers were killed, while its ally the Amal movement said it had lost two members
Business
ADIB closes $235m Sharia-compliant transaction to finance gas carriers
Abu Dhabi, UAE -- Abu Dhabi Islamic Bank (ADIB) has closed a sharia compliant syndicated transaction totaling AED865 million ($235...
- This is the second tranche of $370m syndication, which will be used to finance the construction of three Very Large Gas Carriers.
- The vessels will be dual-fuel efficient and enjoy operational, economic and environmental efficiencies through their Liquefied Petroleum Gas (LPG) engines.
Arts & Culture
Abu Dhabi SeaWorld named world’s largest indoor marine-life theme park
Abu Dhabi, UAE -- SeaWorld Yas Island, Abu Dhabi, has been recognized as the largest indoor marine life theme park...
- Covering a sprawling expanse of over 183,000 square meters and spanning five indoor levels, this facility stands as the inaugural marine life theme park in the region.
- The marine life theme park has been certified by Global Humane, the world's foremost certifier of animal welfare standards.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Hamas says weapons are ‘legitimate right’, open to proposals that preserve it
"Resistance and its weapons are a legitimate right guaranteed by international law and are linked to the establishment of a...
Geostrategy
Company News
Latest News
Mubadala acquires stakes from GHH
It acquired an 80 percent stake in Global Medical Supply Chain.
Business
Musk’s AI startup raises $6bn more, Saudi and Qatari funds among investors
Paris, France -- Billionaire tech mogul Elon Musk's startup xAI said it had raised $6 billion from investors in its latest...
Business
Most Read
In stabilization bid, Syria’s new ruler declares all weapons under state control, including Kurdish arms
Ahmed al-Sharaa announced all weapons, including those held by Kurdish-led forces, will come under state control, emphasizing unity and coexistence...
- Sharaa spoke alongside Turkish Foreign Minister Hakan Fidan, after earlier meeting with Lebanese Druze leaders and vowing to end "negative interference" in the neighbouring country
- Turkey has maintained strong ties with Syria's new leaders, and has continued military operations against Kurdish-held areas in northeastern Syria
Geostrategy
Pope again condemns ‘cruelty’ of Israeli strikes on Gaza
"And with pain I think of Gaza, of so much cruelty, of the children being machine-gunned, of the bombings of...
- The mounting criticisms of Israel appear to mark a change in the pope's tone in recent weeks. He has consistently called for peace since the beginning of the Israel-Hamas war
- At the end of September, the Pope also criticized Israel's "immoral" use of force in Gaza and in Lebanon
Geostrategy
Tunisia women herb harvesters struggle with drought and heat
In Tunisia's highlands, women harvest wild herbs to earn a living, but drought is making their work harder, shrinking incomes...
- Tunisia produces around 10,000 tons of aromatic and medicinal herbs each year, according to official figures.
- Rosemary accounts for more than 40 percent of essential oil exports, mainly destined for French and American markets.