Dubai, UAE-- Dubai Electricity and Water Authority (DEWA) has held discussions with a delegation from Germany on how to boost cooperation in clean and renewable energy. In this regard, Saeed Mohammed Al Tayer, MD and CEO of DEWA), received a high-level delegation from the German region of Lusatia, led by...

The company had posted a net profit of $4.32bn in 9M 2022.

Tehran, Iran-- Iran has ramped up its oil production to 3.4 million barrels per day (bpd), up from about 2.9 bpd. This was stated by Iranian Oil Minister, Javad Owji, according to whom it is part of the government strategy to boost production. The minister made the remarks on the sidelines...

It will acquire Comcast's US$8.6 billion stake in Hulu.

The UAE's central bank has kept its Base Rate for the Overnight Deposit Facility (ODF) unchanged at 5.40 percent. It is closely tied to the US Federal Reserve's Interest on Reserve Balances (IORB), reflecting the general stance of the CBUAE's monetary policy. Qatar Central Bank too has maintained its current...

Abu Dhabi, UAE--The UAE and Jordan have signed a memorandum of understanding (MoU) to create a framework for investment cooperation in key areas including infrastructure and development projects, while further strengthening the two countries’ enduring strategic partnership. The agreement was signed between the Ministries of Investment of the UAE and...

Doha, Qatar -- The Qatar Ports Management Company (Mwani Qatar) announced a 39 percent increase in transshipment containers in October, standing at about 119,448 TEU, compared to the same period last year. Mwani Qatar data released Wednesday revealed an increase in building and construction materials shipments by 21 percent, reaching...

Riyadh, Saudi Arabia -- A total of 138 agreements, MoUs and deals worth more than SAR 13.3 billion ($3.54 billion) were signed during the three-day Global Health Exhibition organized by Saudi Arabia's Ministry of Health. Held under the theme 'Invest in Health' and visited by 111,000 local and international visitors,...

Riyadh, Saudi Arabia -- Foreign investments in Saudi Arabia increased 4 percent year-on-year (YoY) to SAR 2.50 trillion ($666. 39 billion) by the end of Q2 2023, Argaam reported, citing Saudi Central Bank (SAMA) data. The foreign investment balance recorded an increase of 5 percent quarter-on-quarter, or nearly SAR 109.9...

The company's revenues increased by 3.3 percent to $3.64 billion.

London, UK-- Bahrain and the UK have discussed way to boost bilateral cooperation in trade, investment and economic fields between the two countries. The discussions were held between Dr. Abdullatif bin Rashid Al Zayani, Bahrain's Minister of Foreign Affairs, and Lord Tariq Ahmad, Minister of State for the Middle East,...

The company plans a $13.9bn investment in a battery plant.

The Saudi bid comes one year after neighboring Qatar hosted the first World Cup in the Middle East, where the kingdom's national team scored a surprse group stage victory over eventual winners Argentina. It is set to take over from a tri-continental line-up for the 2030 event to be shared...

European clubs owned by Arabs continue to dominate the rankings, with Sheikh Mansour bin Zayed-owned Manchester City standing at the top with a market value of US$1.34 billion.

Sales revenue was US$1.6 billion (SAR 6.22 billion) in Q3 2023.

The firms will continue to work closely on future global projects.

The oil giant had posted a net loss of $2.2bn the previous year.

Dubai, UAE -- Dubai recorded 116,116 real estate transactions worth AED 429.67 billion ($116.98 billion) during the first nine months of 2023, recording more than 36.7 percent in value and 33.8 percent in the number of transactions compared to the same period in 2022. Real estate investments also witnessed steady...

ABU DHABI, UAE - Trade between the two countries is on an upswing with volumes this year expected to surpass that of last year, Radha Krishna Panday, Ambassador of Canada to the UAE, told the Emirates News Agency (WAM). He said that the UAE has created a value-added platform that...

Doha, Qatar -- Companies listed on the Qatar Stock Exchange have reported a net profit of QR 37.42 billion ($10.27 billion) for the first nine months of 2023, compared to QR 40.54 billion for the same period last year, marking a decrease of 7.69 percent. All companies listed on the...

SHENYANG, CHINA – Investments in the country’s northeast have grown over the past years as several multinational corporations put in more money or enhanced investments in the area. One such investment is in the mega Saudi-Chinese petrochemical project in Panjin City, Liaoning Province, by Aramco and joint venture partners NORINCO...

The third quarter net profit fell 23% compared to the Q3 2022.

Its revenue rose to US$4.72bn in the first 9 months of 2023.

Its revenue spiked to US$898m in the first 9 months of 2023.

The company's third-quarter profit was well above the first quarter's 640 billion.

Muscat, Oman-- Secretary General of the Gulf Cooperation Council (GCC), Jasem Mohamed Albudawi, has underscored the importance of cooperation in investigations into cross-border corruption cases and prosecution of their perpetrators, given the significant impact corruption has on economic development and growth. He made the remarks at the 9th meeting of...

Its revenues grew 3.7% to US$896 million in the quarter.

ABU DHABI, UAE -  Upcoming UN climate talks in Dubai will be open to the private sector on an unprecedented scale, the conference's chief said on Monday, calling it a chance to "reimagine entire economies". Sultan Al Jaber, the COP28 president and head of state-owned oil giant ADNOC, was speaking at...

JEDDAH, SAUDI ARABIA - From the start of the month of Muharram until the end of Rabi' Al-Awwal, Saudia Airlines transported 814,000 Umrah performers to and from Saudi Arabia, a 50 percent increase over last year, according to a press release issued by Saudia. Its commitment to operate during the...

"To comply with evolving European regulations, we are introducing a new subscription option in the EU, EEA (European Economic Area) and Switzerland," it said in a statement.

London, United Kingdom - Britain on Monday awarded 27 new licenses for oil and gas exploration in the North Sea as it seeks to quickly boost energy security, but the announcement angered environmentalists. The Conservative government has argued that drilling for new oil and gas is necessary to bolster Britain's energy...

The Asian giant's share of global manufacturing jobs will rise to 43 percent of the total by that year -- making China one of the only countries to see growth in such jobs during that time, according to a study by the Washington-based Center for Global Development. Major Western economies...

The company has issued a dividend of $1.3 billion.

The third-quarter profit of $1.42bn is its highest-ever single-quarter earnings.

SABIC Agri-Nutrients Q3 net profit fell 55% to $280 million.

Six Senses AlUla will open in Saudi Arabia in 2027.

stc's revenue was $14.5 billion in January-September 2023.

Collaboration in the T10 Cricket League key element of the JV.

The rise in net profit was driven by 16% increase in sales.

Riyadh, Saudi Arabia-- Saudi Arabia and Agility have signed a memorandum of understanding (MoU) to introduce cutting-edge health technology and services to the kingdom's healthcare sector. As per the terms of the agreement, Agility and MISA will explore four areas of collaboration in the healthcare sector. This includes the potential...

Its pre-tax profit more than doubled to US$7.7bn.

Sharjah, UAE--Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics centre which will enhance delivery services for customers in the Northern Emirates. In line with HFZA's vision to bolster economic growth and innovation in the region, the agreement supports Amazon UAE’s commitment to...

Riyadh, Saudi Arabia – The Saudi Exchange on Sunday announced its intention to launch the Single Stock Options (SSOs) contracts, the third derivatives product to be introduced in the Saudi Exchange.  SSOs contracts will be available to trade on 27 November 2023, enabling local and international investors to hedge and...

It posted a profit of $630 million in January-September 2023.

SHARJAH, UAE - Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics center which will enhance delivery services for customers in the Northern Emirates. In line with HFZA's vision to bolster economic growth and innovation in the region, the agreement supports Amazon UAE’s...

The profit growth was driven by 27% revenue increase.

The Group reported a nearly 16% year-on-year rise in revenues.

Ghosn and his wife must "vacate the property... within a month", according to a copy of the decision seen by AFP and dated October 16. The home with pink walls in the Lebanese capital's upscale Ashrafieh neighbourhood is worth some $19 million and is registered to Lebanese company Phoinos Investment,...

Doha, Qatar--Qatar National Bank (QNB) said that the global macro trends are starting to present short-term challenges to emerging markets (EM), weighing on capital flows. In its weekly commentary, QNB said, "Late last year and early this year, emerging markets (EM) started to benefit from significant tailwinds, driven by the...

TEHRAN, IRAN – The Iranian head of Solyanka Port in Russia said that the International North-South Transport Corridor (INSTC) is a key element of the transportation network in Eurasia. Speaking in a specialized meeting of INSTC- New Concept, which was held in Astrakhan Port of Russia, Dariush Jamali pointed to the...