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Etihad reports record Q1 profit

Total revenue increased by $269 million in the same period.

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.

IHC Q1 net profit $2.17bn

The company launches Share Buyback Programme

Amazon triples quarterly profit

The company's cloud, ads, and retail businesses thrive.

McDonald’s profits up 7%

The quarterly profits increased despite weak Middle East sales.
  • Qatar looks to boost tourism sector by streamlining regulations

    Doha, Qatar-- Qatar is looking to develop "plans and strategies" to streamline procedures and regulations in order to solve solve all obstacles facing the sector and align its development with the state's overall progress. This was stated by Chairman of Qatar Tourism Saad bin Ali bin Saad Al Kharji at...
  • Israel PM spurns global recognition of a Palestinian state

    In a post in Hebrew on social media platform X, Israel's Prime Minister Benjamin Netanyahu said that the Jewish country will continue to oppose unilateral recognition of a Palestinian state. Such recognition, in his opinion, would offer an "enormous reward to unprecedented terrorism.
  • Jordan takes steps to raise position in Global Food Security Index, says minister

    AMMAN, JORDAN - Agriculture Minister Khaled Al-Hneifat said the ministry has been working hard over the past year to create an action plan to raise the country's ranking in the Global Food Security Index (GFSI). According to the Jordan News Agency (Petra), two of the initiatives taken to achieve this...
  • Net-zero targets must include fossil fuel ‘phase-out’: monitor

    According to a new report from Net Zero Tracker, at least 150 countries have committed to a net-zero emissions target of some kind. But the climate monitor said only 13 percent of those countries have made at least one commitment to phase out the use, production or exploration of coal,...
  • Morocco looks to become key player in green hydrogen

    According to the country's economy minister, around 1.5 million acres of public land -- nearly the size of Kuwait -- have been set aside for green hydrogen and ammonia plants. Morocco is looking to become North Africa's top player in the emerging "green hydrogen" sector, with plans to export the...
  • Data, rail, electricity key focus as G20 eyes EU-Middle East-India trade plan

    Major G20 partners are set to unveil ambitious plans on Saturday to enhance trade among India, the Middle East, and Europe. This modern-day Spice Route aims to integrate regions that represent about a third of the global economy. Washington, Saudi Arabia, the EU, the UAE, and other nations plan to...
  • Sheikha Fatima launches national plan for empowerment of Emirati women

    ABU DHABI, UAE – Chairwoman of the General Women's Union (GWU) Sheikha Fatima bint Mubarak launched the National Strategy for Empowerment of Emirati Women in the UAE for the years 2023-2031, on the occasion of the Emirati Women’s Day 2023, under the theme of “We Collaborate for Tomorrow”. This strategy...
  • Oman Air approves restructuring program to lower rising debt

    Muscat, Oman--Looking to address its mounting debt, Oman Air has backed a restructuring program to reduce its losses by 15 percent in the ongoing fiscal year while aiming to reach a break-even point by 2026.   The airline in May made a forecast of reducing its net loss by a further...
  • Dubai Taxi Corporation unveils digital transformation plan 2022-2025

    Dubai, UAE--Dubai Taxi Corporation (DTC) has launched its strategic plan for digital transformation 2022-2025 designed to improve the quality of the service it provides to customers. The plan seeks to accomplish a host of strategic goals highlighted by digital mobility, excellent operation, financial sustainability, people’s happiness, and shaping the future....
  • Jordan sees surge of investments to US$844.8m in first half of 2023

    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....
  • UAE energy ministry announces Global EV Market transformational project

    DUBAI, UAE -  UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei on Tuesday announced the launch of the Global EV Market, a transformational project as per the performance agreements signed by federal authorities in 2022. The project was signed in the presence of Sheikh Mohammed bin Rashid...
  • Iraq plans ambitious Europe-Middle East road, rail project

    Iraq presented an ambitious plan to turn itself into a regional transportation hub by developing its road and rail infrastructure, linking Europe with the Gulf and other Middle East countries. Once completed, the US$17 billion project known as the "Route of Development" would stretch 1,200 kilometers from Turkey to the...
  • GCC Standardization Organization announces Training Plan for 2023

    RIYADH, SAUDI ARABIA - The Gulf Cooperation Council (GCC) Standardization Organization (GSO) has announced its training plan for 2023 in the field of standards and metrology through the GCC Standardization Training Center affiliated with GSO. The GSO President, Saud bin Nasser Al-Khusaibi, said in a statement Sunday that the 2023...
  • Fujairah Chamber board approves 2023 operational plan and budget

    Fujairah, UAE-- The Board of Directors of the Fujairah Chamber of Commerce and Industry stressed the importance of encouraging private sector companies and institutions in the emirate to improve their products, given the major role they play in driving sustainable and economic development. The board made this statement during its...
  • Dubai Land Department launches its strategic plan 2026

    DUBAI, UAE :  The Dubai Land Department (DLD) launched its new strategic plan and vision, shaping the features and landmarks of its directions until 2026. The new plan has been approved by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council...
  • UAE participates in First Framework Working Group meeting within G20 Finance Track

    BENGALURU, INDIA - The UAE participated in the first Framework Working Group (FWG) meeting within the G20 Finance Track, which was held on December 16-17 2022. Held for the first time under India’s G20 presidency in Bengaluru, the meeting sought to discuss the work plan for FWG in 2023, which...
  • Mohammed bin Rashid approves Dubai rural area development master plan

    DUBAI, UAE - Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai has approved the Dubai Countryside and Rural Areas Development Master Plan, spanning an area of 2,216 square kilometers. The Plan seeks to preserve the nature of areas including Lehbab, Margham, Al Marmoom, Al...
  • Stocks rise, oil falls tracking China lockdown policy

    Stock markets mostly rose, extending last week's strong gains, while oil prices fell after China reaffirmed its commitment to its economically painful zero-Covid policy. The Chinese government said it would stick to its current plan, which involves harsh lockdowns and strict quarantine and testing regimens.
  • Al Awali to raise US$133m

    The Saudi developer will offer 20% of its shares on Nomu.
  • King Abdullah calls for speeding up of food security plan

    The king has called on the Jordanian government to speed up the implementation of the national plan for sustainable agriculture in order to achieve food security in the kingdom. The king said rehabilitating state-owned land for agricultural project is a vital part of the food security plan.
  • EU to stop combustion engine sales by 2035 in Europe

    The European Union approved a plan to end the sale of vehicles with combustion engines by 2035 in Europe, the 27-member bloc announced early Wednesday, in a bid to reduce CO2 emissions to zero.
  • Iran says Houthi ceasefire plan can end Yemen conflict

    Iran offered its support on Tuesday for a ceasefire plan put forward by rebels it backs in Yemen's war, saying it could be an "appropriate platform" for ending the conflict. The offer came a day after the insurgents fired on 16 targets inside Saudi Arabia.
  • Flynas to take off for Belgrade

    The airline will fly three weekly flights to Serbia's capital.
  • Toshiba holds spin-off plan vote

    The plan has faced opposition from key investors.
  • Ithmaar Holding of Bahrain to sell ‘assets’ to Al Salam Bank

    Shareholders of Ithmaar Holding have approved a plan to sell a few of the company's assets to Al Salam Bank.
  • IAEA unveils new plan to bolster cancer care

    The International Atomic Energy Agency (IAEA) has launched a plan to tackle a chronic shortage of cancer care capacity in many poorer countries, with an initial focus on Africa.
  • Plan to transform Amman into smart city completed: Mayor

    Amman Municipality’s plan to transform Amman into a “smart city” looked at other countries’ experiences in this field.
  • Plan to support 1.6 million Palestinians in 2022 in Gaza and West Bank launched

    A $510 million Humanitarian Response Plan was launched on Thursday to support 1.6 million of the most vulnerable people in Gaza and in the West Bank, including East Jerusalem, during 2022. Palestinian media reports said the plan was launched by the Humanitarian Coordinator for the occupied Palestinian territory, Lynn Hastings....
  • Algeria’s poor fret over plan to slash subsidies on basic goods

    During Algeria's transition to a market economy in the 1990s, subsidies replaced the fixed prices of a planned economy that had been in place since independence from France in 1962. Algeria's subsidy system has been financed by energy exports that account for about 95 percent of foreign revenues and 60...
  • Bahrain launches five-point plan to boost economy

    The new five-pillar plan apparently aligns with Bahrain’s Economic Vision 2030 and its intention to achieve net-zero carbon emissions by 2060.
  • Sabic leads low-carbon plan

    Sabic, WEF, and global companies will formalize the plan.
  • UN official lauds UAE for resolve to cut carbon emissions to zero by 2050

     The United Arab Emirates will aim to achieve net-zero emissions by 2050, a plan commensurate with the country’s 2050 Strategic Initiative. It will make the UAE the first country in the whole of MENA region to take such action.
  • Saudi Central Bank has a plan to create 200,000 jobs

    If the Saudi Central Bank’s (SAMA) plan to increase the number of locals working in the financial sector succeeds, it could end up creating nearly 200,000 jobs for Saudi citizens.
  • Dubai Chamber board adopts 90-day plan for business growth

    The event  eyes 100,000 business leaders Key challenges facing companies discussed The newly formed board of Dubai Chamber of Commerce at its first meeting adopted a 90-day plan to drive business growth in Dubai, which includes maximizing exposure of the forthcoming Expo 2020 Dubai. One of the plan's objectives is...