Dubai Investments, the leading diversified investment company listed on the Dubai Financial Market [DFM], has announced a 59 percent increase in net profit to AED 580 million for the six-month period ended June 30th 2023, as compared to AED 364 million during the corresponding period in 2022.The...
GL Holding (GLH) announced the signing of a partnership agreement with Urban Mobility Systems (UMS), a leading Dutch company in the green energy sector, to launch a series of renewable energy projects in the UAE, starting with the establishment of a factory specialised in developing and...
ADNOC Gas today announced its financial results for the three months and six months ended 30th June, 2023 (Q2 2023) and (H1 2023).The Company’s H1 2023 revenue stood at a AED 38.9 billion (US$10.6 billion) compared to Pro Forma Adjusted Revenue of AED 48.8 billion (US$13.3 billion) in H1 2022,...
Networking startup Nile raised nearly $175 million in a new round led by Sanabil Investments, a subsidiary of the Public Investment Fund (PIF), and March Capital. In a statement, the company said the new round witnessed the participation of investors from several companies,...
The Zakat, Tax and Customs Authority (ZATCA) called on establishments subject to withholding tax in Saudi Arabia to submit their tax returns for July, no later than Aug. 10. The authority said taxpayers should submit their tax returns as soon as possible through its website, to...
The Ministry of Hajj and Umrah invited the public to send their feedback on the draft Hajj services providers law via Istitlaa platform. The ministry stated that the law aims to unify the standards of services provided to pilgrims coming from inside and outside the Kingdom. It is...
OPEC+ Joint Ministerial Monitoring Committee decided today, Aug. 4, to keep the oil output policy unchanged. The panel confirmed the members' commitment to the declaration of cooperation after reviewing oil production data for May and June 2023. The next meeting is scheduled for Oct....
The Saudi Export-Import Bank (EXIM Bank) offered SAR 13.58 billion credit facilities in 2022, of which requests for export credit insurance and export financing reached SAR 9 billion and SAR 4.58 billion, respectively. According to the bank's annual report, the total amount of requests...
The National Housing Co. (NHC) offered 12,000 new residential units for reservation via Sakani platform, at competitive prices starting from SAR 350,000. The move is part of the company's efforts to provide more integrated housing options across the Kingdom, at affordable prices....
Oil prices edged up on Friday, heading for the sixth straight weekly gain, the longest weekly winning streak in more than one year after both Saudi Arabia and Russia extended the voluntary output cut into next month. OPEC+ Joint Ministerial Monitoring Committee is scheduled to hold ...