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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.
  • Turkey’s ‘biggest ever’ defense deal inked during Erdogan’s Saudi visit

    Haluk Bayraktar, CEO of the drone manufacturer which is co-run by one of Erdogan's sons-in-laws, in a tweet called the deal...

    Erdogan, who in May elections won another five-year term, was in Saudi Arabia to kick off a Gulf tour seeking to drum up support for Turkey's faltering economy.

    After attending a Saudi-Turkish business forum in Jeddah on Monday, Erdogan and Prince Mohammed discussed "prospects for joint cooperation" in their meeting.

  • Ukraine to continue grain exports despite Russia’s exit from deal

    Putin has been threatening to pull out of the arrangement, arguing that elements of the deal allowing the export of...

    The agreement, which has enabled the export in cargo of more than 32 million tonnes of Ukrainian grain over the last year, is due to expire at 2100 GMT on Monday

    In his evening address, Volodymyr Zelensky said: "Ukraine, the UN and Turkey can jointly ensure the operation of the food corridor and the inspection of ships

  • Erdogan seeks foreign investment on Gulf tour, begins with Saudi Arabia

    Turkish President Recep Tayyip Erdogan has embarked on a three-state Gulf tour, beginning with Saudi Arabia, as he seeks to...

    Nine MoUs -- covering energy, real estate, education, and more -- were signed at the Saudi-Turkish business forum

    Turkish government aims to increase its trade volume with Gulf countries, which currently stands at $22 billion

  • US to deploy additional F-35 and F-16 fighter jets to Middle East

    Dubai, UAE - The United States has announced plans to bolster its military presence in the Middle East in response...

    The primary goal of this deployment is to enhance monitoring capabilities in the vital waterways, especially the Strait of Hormuz

    The chokepoint, situated between Iran and Oman, has been a focal point of tensions between the US and Iran

  • Morocco claims Israel recognizes its sovereignty over Western Sahara

    Dubai, UAE--Morocco said that Israel has recognized its sovereignty over the disputed territory of Western Sahara and is mulling opening...

    According to a statement from Morocco's Royal Palace, Israeli Prime Minister Benjamin Netanyahu stated the Jewish country's position in a letter to the king

    The statement from the palace further noted that as part of this recognition Israel mulls "the opening of a consulate in the city of Dakhla"

  • Japanese PM discusses clean energy cooperation with UAE ahead of COP28

    As the UAE prepares to host COP28, Japan aims to offer its green and renewable energy technologies to support the...

    Japan aims to offer green and renewable energy technologies to assist Gulf states' decarbonisation efforts

    The UAE-Japan Business Forum witnesses signing of 23 cooperation agreements and MoUs in various sectors

  • UN hands over boat for oil transfer from rusting Yemen tanker

    Aboard Nautica , Yemen - The United Nations on Monday handed over a vessel that will take on board oil from...

    The handover ceremony took place aboard the Nautica, which is being renamed the Yemen, in the presence of the country's Houthi authorities.

    In the coming days, an operation is expected to begin pumping 1.14 million barrels of crude oil to the Nautica from the FSO Safer.

  • Millions will ‘pay the price’ of Russia’s grain deal exit: UN chief

    The move by Moscow will "strike a blow to people in need everywhere", Guterres said. "Hundreds of millions of people...

    Earlier, the Kremlin said that as "soon as the Russian part (of the agreements) are fulfilled, the Russian side will immediately return to the grain deal".

    Ukraine President Volodymyr Zelensky said his country was prepared to keep exporting grain via the Black Sea despite Russia's exit from the deal.

  • Saudi Arabia, Japan issue joint statement on Lighthouse Initiative for Clean Energy Cooperation

    RIYADH, SAUDI ARABIA – Saudi Arabia and Japan issued a joint statement on Lighthouse Initiative for Clean Energy Cooperation. The...

    Recognizing net-zero and clean energy ambitions, both sides decided to establish the KSA-Japan Lighthouse Initiative for Clean Energy Cooperation.

    The initiative will serve as a beacon for other countries and regions as they develop their strategies and roadmaps toward their net zero ambitions.

  • Dubai posts 44 percent growth in business event bid wins in H1 2023

    DUBAI, UAE – The city has registered a strong year-on-year growth of 44 percent in business event bid wins in...

    Dubai Business Events worked with partners and stakeholders to win 143 conferences, congresses, meetings and incentives in H1 2023.

    These events are expected to bring over 94,000 additional visitors to the city, including global experts and leaders in their respective fields.