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

AD Ports Group 2024 net profit $484m

The Group's revenue increased 48 percent year-on-year.

TAQA net income $1.93bn in 2024

The company's revenues increased 6.7 percent year-on-year.

ADNOC L&S 2024 net profit $756m

The company's revenue increased by 29 percent to $3.54 billion.

ADNOC Distribution 2024 net profit down 7%

Minus UAE corporate tax, it would have grown by 2.4% to $725m

Maaden raises $1.25bn in sukuk offering

The Sukuk were offered in a five-year and a 10-year tranche.

Arab states boycott meeting hosted by Libya’s unity government

  • Four members sent lower-ranking ministers or ambassadors while Arab League chief Ahmed Aboul Gheit was also absent.
  • The unity government was the product of a United Nations-mediated peace process following the country's last major battle in 2020.

Tripoli, Libya – Arab states boycotted a meeting hosted by Libya’s unity government on Sunday, with just five of the Arab League’s 22 members sending their top diplomats and even the bloc’s secretary general staying away.

The snub underlines Arab divisions over the Tripoli-based government, whose legitimacy is contested by a rival administration in the war-torn country’s east.

Regional heavyweights Egypt, Saudi Arabia and the United Arab Emirates were not represented at all at the gathering — a preparatory session ahead of a foreign ministers’ meeting in Cairo.

Four members sent lower-ranking ministers or ambassadors while Arab League chief Ahmed Aboul Gheit was also absent.

Najla al-Mangoush, foreign minister in the Tripoli-based administration, condemned what she called “attempts by certain sides to crush Libyans’ desire to transform Arab solidarity into a reality”.

Libya, which holds the rotating presidency of the organization, is “determined to play its role in the Arab League (and) rejects any attempt to politicize the League’s founding documents,” she said.

Libya fell into a decade of violence following the 2011 overthrow of dictator Moamer Kadhafi in a NATO-backed rebellion.

The resulting power grab gave rise to myriad home-grown militias and prompted interventions by Arab powers as well as Turkey, Russia and Western states.

Since March last year, an administration in Libya’s east backed by military leader Khalifa Haftar — who has been close to Russia and Egypt — has challenged the government of Prime Minister Abdulhamid Dbeibah, arguing it has outlived its mandate.

The unity government was the product of a United Nations-mediated peace process following the country’s last major battle in 2020.