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Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Dubai Municipality, DEWA ink pact to generate electricity from landfill biogas

DUBAI, UAE -  Dubai Municipality and Dubai Electricity and Water Authority (DEWA) have signed an agreement on the sides of...
  • The signing supports Dubai’s leading sustainability practices and the realition of the UAE Net Zero Strategy 2050.
  • Dubai Municipality is building align with its aspiration to build a more sustainable, pioneering and liveable city.

Saudi Arabia expects budget deficits in 2023 and 2024 as spending rises

The announcement comes one year after the Gulf kingdom, the world's biggest crude exporter and the Middle East's largest economy,...
  • The deficit for 2023 is expected to amount to 82 billion Saudi riyals (roughly $21.8 billion), while in 2024 it is expected to total 79 billion Saudi riyals (roughly $21 billion)
  • The projections broadly align with a pre-budget statement issued in October that indicated deficits would last through 2026.

EU agrees to forbid destruction of unsold clothes

Brussels, Belgium - The European Parliament and EU member states announced on Tuesday new rules to crack down on fast fashion...
  • The new rules, first proposed by the EU last year, impose tougher rules on products to ensure they last longer and are easier to repair and recycle
  • The commission, the EU's executive arm, will also have the power to extend the ban to other unsold products beyond clothing and footwear

MSF demands immediate, sustained truce in Gaza as toll rises to 15,899

Doctors Without Borders (Médecins Sans Frontières, MSF) has urgently called for a ceasefire in Gaza amid escalating violence and rising...
  • MSF UAE's Executive Director, Dr. Khalid El Sheikh, highlights severe violence in Gaza.
  • Israeli military operations in Gaza criticized for impacting civilians and medical facilities.

COP28 offers a chance to rethink, reboot and refocus

COP28 UAE provides a crucial chance to reevaluate and intensify efforts, as experts urge pragmatic energy transition strategies to meet...

Mass displacement of civilians should not take place in southern Gaza, says US

WASHINGTON, US -  US President Joe Biden has warned Israel that its expected offensive in southern Gaza must avoid the kind...
  • Israel has said it will continue its war on Hamas after an ongoing temporary truce expires.
  • US has strongly backed ally Israel but it has increasingly warned that too many Palestinians are being killed.

Oman’s Producer Price Index down in Q3 2023

Muscat, Oman - The Sultanate of Oman's producer price index (PPI) in Q3 2023 recorded a decrease of 13 percent...
  • Prices of oil and gas products decreased by 13.7 percent, under pressure from the decrease in the prices of crude oil and natural gas products by 16 percent
  • Non-oil products also recorded a decrease of 8.2 percent due to a decrease in the prices of the manufacturing industries group by 10.2 percent

Climate change is the single biggest health threat facing humanity, says WHO

PARIS, FRANCE -  Growing calls for the world to come to grips with the many ways that global warming affects human...
  • Global warming must be limited to the Paris Agreement target of 1.5 degrees Celsius "to avert catastrophic health impacts”, WHO said.
  • Under current national carbon-cutting plans, the world is on track to warm up to 2.9C this century, the UN said.

For a diaspora soccer club in Chile, ‘Palestine exists’

Santiago, Chile - Thousands of miles from the Middle East, in a stadium in Santiago, Chile, the nation of Palestine exists,...
  • A banner reading "In memory of those who are no longer with us" was displayed in the stands, where a section of seats was left empty to represent the dead
  • Chile is home to the largest Palestinian community outside the Arab world, with the first immigrants arriving from Bethlehem, Beit Jala and Beit Sahour

Israel, Hamas agree four-day truce, 50 hostages to be released

Qatar's foreign ministry confirmed the deal, saying that "a number of Palestinian women and children detained in Israeli prisons" would...
  • Under the Qatar-brokered deal, Palestinian militants will release 50 women and children kidnapped during their October 7 raids
  • A senior US official said three Americans, including three-year-old Abigail Mor Idan, were among the 50 earmarked for staggered release from Thursday

Pope urges Lebanese to stay in their country despite difficulties

Leo emphasized the need for peace, using the word more than 20 times during the address, without mentioning any specific...

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ICC issues arrest warrants for Netanyahu, Gallant, Deif

The court said it had found "reasonable grounds" to believe Netanyahu and Gallant bore "criminal responsibility" for war crimes

Adani Group tanks after US bribery charges

India's opposition leader demands Gautam Adani's arrest; Kenya scraps airport, power deals with the Group that has significant investments in...

Lulu Retail Q3 profit $35m

For the nine-month period, net profit increased by 73.3%.
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Riyadh tripartite meet pledges to implement Beijing Agreement

Riyadh, Saudi Arabia -- The second meeting of the Saudi-Chinese-Iranian Joint Tripartite Committee to follow up on the Beijing Agreement...
  • They also reaffirmed their continued endeavor to consolidate neighborly relations between their countries through adherence to the Charter of the United Nations.
  • China has affirmed its readiness to continue to support and encourage the steps taken by Saudi Arabia and Iran to develop their relationship in various fields.

US vetoes Gaza ceasefire call at UN

The resolution demanded "an immediate, unconditional and permanent ceasefire" in the war between Israel and the Palestinian group, along with...
  • But the wording angered Israel, with a senior US official warning ahead of the vote that the resolution had "the potential only to buoy Hamas".
  • Since the beginning of the conflict, the Security Council has struggled to speak with one voice, as the United States used its veto power several times.

Talabat IPO offer price range announced

The subscription will close on 27 Nov for UAE retail investors.
  • A total of 3.493 billion shares will be made available in the offering, representing 15% of the company’s total issued share capital.
  • All Shares to be offered are existing shares held by the company’s sole shareholder, Delivery Hero MENA Holding.