ASI index laincehd by Tadawul GettyImages-1057624978-e1636003123118

Saudi wealth fund plans to sell 10% stake in stock exchange

The offering comes almost a year after the stock exchange went public in a $1bn initial public offering

ADNOC Distribution

ADNOC Distribution reports 39% rise in nine-month net profit

The company’s non-fuel transactions increased by 18 per cent during the period

Harry Potter themed land

Abu Dhabi to welcome Harry Potter themed land

The themed land will be part of the indoor theme park, Warner Bros. World Abu Dhabi

Masdar

UAE’s biggest clean-energy firm to look at deals in US, Europe

Abu Dhabi-based Masdar is leading a consortium that will build a 10-gigawatt wind plant in Egypt

DEWA

Dubai’s DEWA reports 21% rise in net profit for Jan-Sep 2022

By the end of the third quarter, DEWA served 1,143,153 customers, representing a 4.89 per cent year-on-year increase

Salik Q3 2022 earnings

Dubai’s Salik reports net profit of Dhs242m for Q3 2022

Salik’s Q3 revenue increased 9.1 per cent YoY to Dhs445m, with travel activity fast approaching pre-Covid levels

SAKHIR, BAHRAIN - November 10, 2022: HH Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates (L), meets with HM King Hamad bin Isa Al Khalifa, King of Bahrain (R) ( Abdulla Al Neyadi / UAE Presidential Court )

UAE President, King of Bahrain discuss strengthening bilateral relations and cooperation

During his visit, the UAE President also attended the final stage of the joint Emirati-Bahraini military anti-terrorism exercise, titled ‘Jelmoud 3’

DP World partners with Emirates Development Bank to finance SME growth

DP World partners with Emirates Development Bank to finance SME growth

It includes a formal framework for both entities to provide SMEs with access to trade financing

ENOC and IHI sign MoU to explore green ammonia production

With an aim to establish a first-of-its-kind manufacturing unit in Dubai, the agreement is part of the emirate’s strategy to become a sustainable global hub for green economy

Taaleem IPO

UAE’s Taaleem sets offer price range, looks to raise $204m from IPO

The subscription period starts today, with trading of shares expected to commence on November 29

FY 2022-23: Dubai's Emirates records $1.2bn in half-year net profit

FY 2022-23: Dubai’s Emirates records $1.2bn in half-year net profit

The group’s revenue stood at $15.3bn for the first six months of 2022-23, up 128 per cent from $6.7bn last year

Bahrain

Bahrain announces discovery of two new natural gas reservoirs

Additional drilling operations are scheduled to be conducted during the next two years

Almosafer

Saudi’s Almosafer partners with Visit Oman to boost sultanate’s inbound tourism

Almosafer’s consumer business will run a 360 marketing campaign throughout 2023 to promote Oman to its customer base in Saudi Arabia, Kuwait and the UAE

empower Dubai

Empower IPO raises over Dhs2.6bn

Upon listing, Empower will become the world’s largest district cooling services provider on a stock exchange

Emirates and Gulf Air launch codeshare partnership

Emirates and Gulf Air launch codeshare partnership

Emirates currently has codeshare cooperation agreements with 26 airline partners and two rail companies around the world

All parking tickets in Dubai are now electronic

All parking tickets in Dubai are now electronic

RTA has fitted the parking machines with touch screens, which enables the entry of vehicle details

Saudia to resume seasonal direct flights between Paris and AlUla

Saudia to resume seasonal direct flights between Paris and AlUla

The route will allow French travellers to reach AlUla in just five hours

Investcorp plans major ramp up of India assets to $5bn

The asset manager has been expanding holdings from the US to Asia as it seeks to reach assets of about $100bn

Agthia

UAE’s Agthia Group reports 14% rise in net profit for Q3 2022

The group’s total assets stood at Dhs6.6bn as of September 30, 2022

Saudi’s Seera Group reports $8m in operating profit for Q3 2022

Seera’s travel platform, Almosafer, reported a 74 per cent rise in revenue, totalling SAR155m in the third quarter of 2022

Saudi Arabia commits $2.5 bn for Middle East Green Initiative

Saudi Arabia commits $2.5bn for Middle East Green Initiative

The Middle East Green Initiative was launched by the Crown Prince last year as part of efforts to reduce regional carbon emissions

Talabat launches first quick-commerce-as-a-service (Q-CAAS) store

Talabat launches first quick-commerce-as-a-service (Q-CAAS) store

This came after a six-month trial was successfully completed in partnership with Aswaaq retail

Kuwait

Kuwait commits to reach carbon neutrality in oil and gas by 2050

Kuwaiti foreign minister Sheikh Salem Abdullah Al-Jaber Al-Sabah said that the country executed many projects to preserve the environment and reduce emissions

Finastra's Nour Sabri on baas in Saudi Arabia

Insights: How BaaS can transform consumer financing in Saudi Arabia

While securing a bank loan that suits individual needs can be time-consuming and often unsuccessful, banking as a service may be the solution

Nakheel

Dubai’s Nakheel secures financing worth $4.6bn to drive growth

The funding will be deployed to develop Dubai Islands and other waterfront projects

Dubai's Emirates purchases 5 Boeing 777 freighters

Dubai’s Emirates buys 5 Boeing 777 freighters

The agreement, worth over $ 1.7bn at list prices, takes the airline’s order book to 200 wide-body aircraft

COP27: “We meet at a critical time for our planet and our future generations,” says UAE President

Sheikh Mohamed bin Zayed Al Nahyan emphasised the importance of international cooperation to tackle climate change for the sake of future generations

flydubai

Flydubai to add six destinations to network

The new routes will see the airline’s network expand to 113 destinations in 53 countries

Air Arabia Egypt launches service to Marseille

Air Arabia Egypt to launch new service between Cairo and Marseille

The service will commence from December 16

Direct device to satellite Ali Al Hashemi is the CEO of UAE’s satellite solutions provider, Yahsat Group

How direct satellite-to-device connectivity can transform the satcom sector

Direct satellite-to-device technology opens the door for satellite services to go mainstream and leverage mass-market equipment production