Brussels, Belgium - Europe's liquefied natural gas (LNG) imports fell to the lowest level since the start of the Russian military operations in Ukraine after a drop in prices reduced the regions appeal. LNG deliveries fell 7% in July from a year earlier to 8.6 million tons, the least since...

Abu Dhabi, UAE - Oman and Etihad Rail Company (OERC) signed a deal with Jindal Shadeed Iron & Steel (Jindal) to establish a sustainable end-to-end transport logistics solution between Jindal’s steel complex at Sohar Port and the United Arab Emirates (UAE), via the UAE-Oman Rail Network. The deal is a...

Washington, United States - They are ubiquitous in the United States, controversial in Europe and coveted in South Asia. As heatwaves intensify across the world, air conditioning has taken center stage. For better or for worse, these power-hungry appliances are among the most common adaptations to a warming world. They have...

The company posted a 15% increase in revenue to $670 million.

Sovereigns were the key issuers. Fitch said the pricing of most sukuk and comparable bonds continued to be similar and highly correlated in the first half of 2023. This trend is likely to persist.

Mubadala will become a minority partner with this investment.

Its net profit vaulted to US$132 million in the first half of 2023.

The company has approved a cash dividend of SAR225 million.

Amman, Jordan-- Jordan and Cyprus are looking to boost cooperation in energy, trade, industry and tourism sectors in order to deepen the overall partnership between the two countries. In this regard, King Abdullah and Cyprus President Nikos Christodoulides met on Tuesday at Al Husseiniya Palace, and discussed enhancing cooperation in...

China accounts for 94 percent of the world's production of gallium -- used in integrated circuits, LEDs and photovoltaic panels -- according to a report by the European Union published this year. For germanium, essential for fiber optics and infrared, China makes up 83 percent of production.

European regulators in January had dismissed the previous legal basis -- "legitimate interest" -- Meta had used to justify gathering users' personal data for targeted advertising.

The company's second quarter net profit increased 4% year on year.

Dubai, UAE -- Nesma & Partners, a contracting company funded by Saudi sovereign wealth fund, the Public Invesment Fund, has signed an agreement to acquire Kent, a global energy services provider. The acquisition is expected to close by the end of the calendar year, subject to regulatory approvals and satisfaction...

The company's revenue grew by 29 percent year on year.

From BP to ExxonMobil to TotalEnergies, none of the oil and gas majors have repeated the exceptional profits posted in 2022 when prices surged in the wake of Russia's invasion of Ukraine, but they nevertheless remain comfortably profitable this year. BP was the last to report earnings, reporting Tuesday a...

Royal Mail said the drone service expected to improve service levels and delivery times to Graemsay and Hoy, where weather and geography can cause delivery disruptions

The drop was even higher (79 percent) in the second quarter.

Revenue jumped $12.3 billion to $36.9 billion.

The automaker's profit surged 78 percent to US$9.1 billion.

Fabinho, the Brazil midfielder, will join Karim Benzema and N'Golo Kante at Al-Ittihad, one of four Saudi clubs controlled by the Gulf state's sovereign wealth fund. He has signed a three-year deal after completing his move from Liverpool. The 29-year-old was left out of Liverpool's pre-season squads for trips to...

Jeddah, Saudi Arabia - SAUDIA, the national flag carrier of Saudi Arabia, announced the expansion of its fleet with the addition of new aircraft type, Airbus A321neo under the slogan “A neo-way of flying.” The airline aims to add 20 more A321neo aircrafts to its fleet by 2026. The A321neo...

The X, installed on the roof of the company's downtown office last week, was part of owner Elon Musk's bid to rebrand the troubled social media giant to the 24th letter of the alphabet. But local residents had complained about the brilliant flashing lights emitting from the sign at night....

Amman, Jordan--Jordan’s economy has seen a 47.6 percent increase in investments in the first half of 2023, according to data released by the government. The kingdom's aggregate investments amounted to $844.8 million in the first six months of the year, up from $571 million over the same period in 2022....

Dubai, UAE--The UAE's real estate market has recorded a strong performance across all sectors in the first half of the year as non-oil economy witnesses strong growth in spite of global macroeconomic headwinds. According to a market report by CBRE, rental performance in Abu Dhabi’s occupier market showed substantial improvement...

Dubai, UAE - The International Data Corporation (IDC) has forecasted that the Middle East will spend $3 billion on AI in 2023, with this figure expected to more than double to $6.4 billion by 2026. CEOs in the region are recognizing the significance of AI for their businesses, with over...

New York, US - Wall Street stocks edged higher early Monday ahead of major economic reports and earnings releases later in the week, including from Apple and Amazon. After a strong first half of 2023, US equities have continued to trend higher in July behind hopes that the Federal Reserve will...

Washington, US - A Federal Reserve official left open the possibility on Monday of pausing or stopping interest rate hikes at the central bank's next policy meeting in September, saying "there's nothing off the table." "Thus far we're on the golden path and we've got to walk that line," Chicago Fed...

Aldar recorded AED 2.1 billion in net profits for the first half of 2023.

Paris, France - French winger Allan Saint-Maximin on Sunday signed a three-year deal with Saudi Arabia's Al-Ahli after leaving English club Newcastle as the cash-rich and ambitious Gulf kingdom's league snared another top-level player. "We pick the best, and he's one of them," Al-Ahli said on social media. The financial terms...

The company announces $95 million investment for expansion.

Riyadh, Saudi Arabia – Saudi Entertainment Ventures (SEVEN), a wholly owned subsidiary of the Kingdom's sovereign wealth fund, the Public Investment Fund (PIF), has announced the start of construction on its new entertainment destination in Almadinah. The $346-million project, which is expected to be completed in 2025, is being developed...

The first half 2023 profit of $9.64m was 25% less than that of H1 2022.

Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) and Citaglobal Berhad have signed a memorandum of understanding (MoU) for developing renewable energy projects across solar, battery energy storage system (BESS), wind and other renewable energy technologies. The MoU was signed in Malaysia by Abdulla Zayed, Masdar’s Head of Development and...

Muscat, Oman-- Oman's inflation rate increased by 2.8 percent in 2022 as the consumers price index (CPI) registered 109.7 points compared to 106.7 points in 2021. According to the data issued by the National Centre for Statistics and Information (NCSI), there was a rise in the prices of main groups...

The oil firm and its subsidiaries posted a net profit of US$8.4bn.

It fell to US$25.6 million in H1 of 2023, a 21.4 percent drop.

The new set of conditions brought in by the finance ministry look to shore up the integrity of the corporate tax system in order to boost the UAE's appeal as an investment haven.

Doha, Qatar--Qatar National Bank (QNB) Group foresees a recession in the US economy during the upcoming 12 months, pointing out that the US economy continues to demonstrate its resilience despite significant headwinds from high inflation, tighter financial conditions, and an uncertain global environment. In its weekly commentary, QNB added that...

ABU DHABI, UAE - The UAE Ministry of Finance (MoF) on Saturday announced administrative penalties for violations related to the Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses. The penalties will be imposed on Taxable Persons, whether an individual or a legal entity, who do...

SEOUL, SOUTH KOREA - Manchester City manager Pep Guardiola said on Saturday that the Saudi Pro League had "completely changed the market" and he expects more and more high-profile players to move there. City winger Riyad Mahrez this week became just the latest big name to move to Saudi football, following...

SHARJAH, UAE – The seventh edition of Al Dhaid Date Festival continues to captivate participants and visitors alike, in a celebration of heritage, competition and taste. Organized by the Sharjah Chamber of Commerce and Industry (SCCI), the event has been hosted at Expo Al Dhaid and offers an enticing platform...

The company's total operating income was $135m.

Dubai, UAE - Larsen & Toubro (L&T), a Mumbai-based Indian company, has announced plans to collaborate with banks in the Middle East, the Indian newspaper The Hindubusinessline reported.  The primary objective of this tie-up is not to seek financing for projects, as L&T will continue to self-finance its project execution...

Amman, Jordan--Jordan's exports to the European Union (EU) shot up 23.4 per cent during the first five months of 2023 to $192 million compared to $155 million for the same period last year. According to Jordan News Agency (Petra), foreign trade data issued by the Department of Statistics indicated an...

Speaking at G20 Climate Sustainability Ministerial Meeting in India, Dr. Sultan Al Jaber said G20 makes up some 85 percent of the world's GDP and contributes 80 percent to emissions. He appealed to the audience to work with "your leaders to drive global climate action in this critical decade."

The Abu Dhabi firm will push for growth in the defense sector.

MOSCOW, RUSSIA -  Egypt's president on Friday called on Russia and Ukraine to find "urgent solutions" to allow the resumption of Ukraine grain exports to Africa, after Moscow's withdrawal led to the collapse of a Black Sea pact. The Ukraine grain deal was agreed last year and allowed around 33 million...

The net profit increased by 831 percent year on year.

Profits fell on lower refining margins, natural gas prices.

Dubai, UAE -- A total of 3,252 real estate transactions worth over AED 10.6 billion ($2.88 billion) were conducted during the week ending 28th July, 2023, according to figures released by the Dubai Land Department (DLD). The DLD report showed that 319 plots were sold for AED 1.92 billion, while...