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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.
  • An Iraqi party files a fraud case against Iraq election results

    A case filed by the Hashed al-Shaabi former paramilitary alliance contesting its defeat in Iraq's October 10 parliamentary election opened...

    Judge Jassem Mohamed Aboud, whose court must rule on the complaint before final results are ratified and a new parliament is inaugurated, adjourned the case until December 22

    Shiite Muslim firebrand cleric Moqtada Sadr was declared on November 30 as the biggest winner of the election

  • Jordan, Netherlands sign €5m rainwater pact

    The project aims to devise proper legislation, and setting up of rainwater harvesting catchment areas as well as smart farms.

    The project comprises 4 main components with the aim of devising proper legislation, and setting up of rainwater harvesting catchment areas as well as smart farms

    In a statement, secretary-general of the water ministry Jihad Mahamid stressed that Jordan is a global "trailblazer" in rainwater harvesting projects

  • Saudi Arabia, Egypt sign MoU to enhance anti-corruption cooperation

    Saudi Arabia’s Oversight and Anti-Corruption Authority and Egypt’s Administrative Control Authority have joined hands for international cooperation.

    The MoU is expected to facilitate exchanging expertise and information related to corruption crimes

    It is also expected to lead to the development of the institutional capacity of the two countries in this field

  • Israel PM Bennett meets Abu Dhabi crown prince

    This is the first official visit by an Israeli prime minister to the UAE. It comes a year after the...

    The UAE last year became the third majority Arab nation to establish full diplomatic with Israel, after its neighbors Egypt and Jordan.

    Bahrain and Morocco then followed as part of a series of deals brokered by former US president Donald Trump.

  • Iran will help in reconstruction of Syria, considers it ally: Official

    Iran's Vice President for parliamentary affairs, Mohammad Hosseini said his country stood by Syrian people and government to the best...

    Hosseini made the remarks on Saturday in a meeting with Syria's ambassador to Tehran Shafiq Dayoub

    The official said he hoped the US troops would leave Syria and Iraq at the earliest, as they were forced to leave Afghanistan after 20 years

  • Saudi Port launches transshipment service linking Dammam with many ports

    MAWANI also aims to attract a major share of the global transshipment operations to Saudi ports by implementing several projects...

    The service is launched in partnership with Saudi Global Ports Co and the international shipping line Orient Overseas Container Line.

    The Saudi Ports Authority seeks to raise the Kingdom's share in the transshipment market from the present 21 percent to 50 percent by 2030.

  • Iran to cut oil output, prioritize defense in new budget

    The 2022-2023 budget allocates about $5 billion to boost "defense capacities and strategic research", up from $4 billion the previous...

    Iranian news agencies reported that the draft, presented Sunday, projects GDP growth of eight percent.

    President Ebrahim Raisi submitted the draft to parliament for a vote expected by the end of 2021.

  • G7 issues warnings on Iran nuke program, Russia’s Ukraine plans

    The G7 on Sunday said time was running out for Iran to agree to a deal to curb its nuclear...

    Foreign ministers from the world's richest nations have held a two-day meeting in Liverpool, England, seeking to present a strong, united front against global threats.

    Biden earlier this week held a virtual summit with his Russian counterpart Vladimir Putin to voice Western concerns.

  • Libya defers list of presidential election candidates

    Libya’s election commission delayed publication of a final list of candidates for a presidential election scheduled in less than two...

    It is just the latest twist in a UN-led effort targeting December 24 presidential polls intended to help the oil-rich North African country move past a decade of violence

    Publication of the final candidate list is supposed to mark the formal start of the election campaign, but the election commission did not give a new date for issuing the list

  • Reasons behind shortening UAE’s workweek

    This week's TRENDS Explainer video tries to find the rationale behind curtailing the number of days in the UAE's workweek...

    The Gulf country is transitioning to a 4.5-day workweek. Now, weekends will consist of Friday afternoon, Saturday and Sunday

    The move makes the UAE the first nation to formalize a workweek shorter than five days. It also brings the country more in line with Western schedules

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