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Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.
  • Growing IT outlays intensify MENA’s transformation

    The region's IT spending is set to rise by 4% to $183.8 billion in 2024, with software and IT services...

    The region's IT spending is projected to rise by 4% to $183.8 billion in 2024, with software and IT services witnessing double-digit growth

    This surge aligns with the MENA region's push for digital transformation, enhanced cybersecurity, and a focus on generative AI initiatives

  • EU seeks to protect sensitive tech from Chinese buyers

    Brussels is creating a trade armory to protect the bloc from actions by rival countries, including a tool aimed at punishing...

    EU Commission will publish a list of critical technologies it believes Europe must not make easily available to others

    MEPs will also quiz the commission about the EU's relations with China after a visit by trade commissioner to China

  • Second Israeli minister in Saudi Arabia amid talk of normalization

    Amid mounting speculation that Saudi Arabia and Israel will normalize ties, the minister traveled to Riyadh for a meeting of...

    Shlomo Karhi is heading a 14-member delegation, including lawmaker David Bitan and representatives of the foreign ministry

    The White House said last week that Saudi Arabia and Israeli were moving towards the outline of a deal to normalize ties

  • GCC FTA, tech MoU enhance Pakistan-Saudi relations

    In landmark developments, Saudi Arabia and Pakistan have taken significant strides to enhance their bilateral relations, especially in the economic...

    In landmark developments, Saudi Arabia and Pakistan have taken significant strides to enhance their bilateral relations, especially in the economic and technological arenas.

    The GCC and Pakistan signed a historic Free Trade Agreement and MoU, deepening bilateral relations between the two nations from trade to digital transformation and defense

  • Dubai must possess its distinct emblem, says new decree

    Dubai, UAE - Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, issued Law No....

    The law says emblem can be utilized across various government facilities, documents, websites, and during government events

    Private entities may also utilize it, provided they obtain prior approval from the Dubai Ruler or his representative

  • Oil industry is an integral part of climate solutions, says COP28 head

    President of the upcoming COP28 climate talks Sultan Al Jaber, also the head of UAE state-owned oil firm ADNOC, told...

    The president of the upcoming COP28 urged oil industry leaders to curb emissions associated with energy production.

    He also encouraged them to embrace "low carbon solutions" like carbon capture and storage,

  • mRNA COVID vaccine experts awarded Nobel Medicine Prize

    Kariko, 68, and Weissman, 64, longstanding colleagues at the University of Pennsylvania in the US, have won a slew of...

    While the prizewinning research dates back to 2005, the first vaccines to use the mRNA technology were those made by Pfizer/BioNTech and Moderna against Covid-19.

    The mRNA vaccines, together with other COVID vaccines "have saved millions of lives and prevented severe disease in many more," the jury said

  • Iran says it opposes ‘geopolitical changes’ in Caucasus

    Foreign ministry spokesman Nasser Kanani, while voicing support for Azerbaijan's reclamation of the separatist Nagorno-Karabakh region last month, said Tehran...

    Relations between Baku and Tehran have been traditionally sour, as Turkic-speaking Azerbaijan is a close ally of Iran's historical rival Turkey.

    Nakhchivan does not share a border with Azerbaijan but has been tied to Baku since the 1920s -- and is located between Armenia, Turkey and Iran.

  • At least 38 injured in police HQ fire in Egypt’s Ismailia

    Flames raged through the multi-storey building that was completely obscured by a massive cloud of smoke before the blaze was...

    Interior Minister ordered an investigation into the causes of the fire, as well as a "structural safety review" for the building

    The health ministry deployed 50 ambulances to the scene, which were joined by military emergency services including two planes

  • UAE Vice-President wishes China in Chinese on National Day

    Dubai, UAE - Vice-President and Prime Minister of the UAE Sheikh Mohammed bin Rashid Al Maktoum on Sunday shared a...

    In a video message, Sheikh Mohammed, who is also ruler of Dubai, highlighted the historical connection between the region and China

    Recalling his visits to China, the UAE Vice President said: "I visited China three times in a year. I like the country and I like its people."