Business & Money | Tuesday 4 February, 2025 10:06 am

TA’ZIZ announces $1.7 billion award to build first methanol plant in UAE

TA’ZIZ announced today an engineering, procurement and construction (EPC) contract award of $1.7 billion (AED6.2 billion) to SAMSUNG E&A for the construction of one of the world’s largest methanol plants in Al Ruwais Industrial City, Al Dhafra region, Abu Dhabi. The project is a key...

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Business & Money | Tuesday 4 February, 2025 10:03 am

Borouge reports FY2024 net profit of $1.24 billion

Borouge Plc has delivered outstanding 2024 financial results, achieving a 24 percent year-on-year increase in net profit to $1.24 billion, driven by record production and sales volumes. The company is driving growth and outperforming the industry through high productivity, a strong...

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Business & Money | Tuesday 4 February, 2025 9:59 am

DIEZ, Dubai Land Department collaborate to support Proptech sector

The Dubai Integrated Economic Zones Authority (DIEZ) and the Dubai Land Department (DLD) partnered to support and enable the property technology (Proptech) sector. The collaboration aims to enhance research, development, and technological innovation, as well as ease of doing business in Dubai, ...

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Business & Money | Tuesday 4 February, 2025 9:56 am

UAE-German Business Forum convened in Abu Dhabi

The United Arab Emirates and Germany reinforced their deep-rooted economic ties today with the convening of the UAE-German Business Forum in Abu Dhabi. The event, held at the Abu Dhabi Global Market (ADGM), gathered senior government officials, industry leaders, and private sector...

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Business & Money | Tuesday 4 February, 2025 9:53 am

Riyadh Air in talks with Boeing, Airbus for 50 wide-body jets: Report

Riyadh Air is in discussions with Boeing and Airbus for a potential order of 50 additional wide-body aircraft, Bloomberg reported, citing informed sources. The Saudi airline is considering the Airbus A350-1000 and Boeing 777X models. It is also negotiating delivery slots, which have become...

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Business & Money | Tuesday 4 February, 2025 9:40 am

Saudi Arabia’s military spending hits SAR 284.3B in 2024: GAMI Governor

Ahmed Al-Ohali, Governor of the General Authority for Military Industries (GAMI), said that military spending in Saudi Arabia reached $75.8 billion (SAR 284.3 billion) in 2024, ranking the Kingdom as the fifth-largest military spender globally and the highest in the Arab world. The Kingdom has ...

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Business & Money | Tuesday 4 February, 2025 9:32 am

ANB completes issuance of SAR 3.35B sukuk

Arab National Bank (ANB) completed the issuance of SAR-denominated additional Tier 1 sukuk through a private placement in Saudi Arabia, under its SAR 11.25 billion additional T1 capital sukuk program, at a value of SAR 3.35 billion. In a statement on Tadawul, the lender said that the ...

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Business & Money | Tuesday 4 February, 2025 9:29 am

JHAH Announces State-of-the-Art Oncology Center of Excellence, Setting a Global Benchmark for Cancer Care in the GCC

 Johns Hopkins Aramco Healthcare (JHAH) has announced the opening of its state-of-the-art Oncology Center of Excellence in Saudi Arabia. Serving patients across the GCC, the center combines Johns Hopkins Medicine’s world-class oncology expertise with the Kingdom’s advanced healthcare...

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Business & Money | Tuesday 4 February, 2025 9:26 am

Modon Holding has entered into a definitive agreement with IHC and TasHeel Holding to acquire Arena Events Group

Modon Holding P.S.C (“Modon”), an Abu Dhabi-based holding company, today announced that it has entered into a definitive agreement with IHC and TasHeel Holding for the acquisition of Theta Bidco Limited, the 100% owner of Arena Events Group Limited (“Arena”), a global leader in large scale...

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Business & Money | Tuesday 4 February, 2025 9:19 am

Her Excellency Sheikha Lubna Bint Khalid Al Qasimi delivers inaugural address at Women’s Health Leadership Forum at Medlab Middle East

Her Excellency Sheikha Lubna Bint Khalid Al Qasimi, Former Minister in the Government of the UAE, delivered an inspiring inaugural address today at the newly launched Women’s Health Leadership Forum at Medlab Middle East. The forum aims to showcase cutting-edge innovations, address key challenges ...

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