Search Site

Trends banner

SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

UAE president on state visit to S Korea, meets top business chiefs

President Sheikh Mohamed bin Zayed Al Nahyan is the first sitting UAE president to make a state visit to Asia's fourth-largest economy. (WAM)
  • Follow-up announcements to the investment plan, which is expected to cover arms and energy, are expected to be made during the two-day visit which includes a summit with Yoon.
  • The Emirati president met leaders of South Korea's largest companies upon his arrival, most notable the chairmen of Samsung Electronics, SK Group and Hyundai Motor Group.

Seoul, South Korea — The president of the United Arab Emirates on Tuesday met leaders of some of South Korea’s biggest conglomerates after the UAE last year announced plans to invest $30 billion in the country.

President Sheikh Mohamed bin Zayed Al Nahyan is the first sitting UAE president to make a state visit to Asia’s fourth-largest economy.

During Seoul’s President Yoon Suk Yeol’s visit to the country last year, the UAE said it would invest $30 billion in South Korea.

Follow-up announcements to the investment plan, which is expected to cover arms and energy, are expected to be made during the two-day visit which includes a summit with Yoon.

The Emirati president met leaders of South Korea’s largest companies upon his arrival, most notable the chairmen of Samsung Electronics, SK Group and Hyundai Motor Group.

Bang Si-hyuk, chairman of HYBE and the mastermind behind K-pop sensation BTS, as well as Kim Taek-jin, CEO of leading gaming firm NCSoft, also attended the meeting at a hotel in central Seoul.

“We are looking for ways to increase our cooperation in the shipbuilding sector, including commercial vessels and warships,… and the environmentally friendly energy sector,” Chung Ki-sun, CEO of HD Hyundai, a shipbuilding conglomerate, told reporters before the meeting.

South Korea’s presidential office last week said the two countries’ leaders will discuss way to enhance cooperation in traditional and clean energy, economy and investment, “peaceful” nuclear energy and defence.