Saudi utility major Acwa has reported solid results for FY 2025 with its revenue soaring to hit SAR7.41 billion ($1.97 billion) and its net profit recording a 60% growth over the previous year as higher operating income and stronger contributions from operating assets lifted earnings.
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Saudi Arabia said on Wednesday that an attempted drone strike targeted the Ras Tanura Refinery, the Kingdom’s largest oil processing facility, but caused no damage and did not disrupt supplies.
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The UAE’s real estate market is one of the Gulf’s most resilient markets and is able to absorb geopolitical shocks thanks to its diversified investment base and openness to global capital flows, according to an expert.
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The gravity of the situation in the Middle East has moved from high to severe and consequently, the potential for events to weaken credit quality across sectors has increased, says an S&P Global Ratings report.
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The ongoing conflict in the Gulf and severe disruption to shipping through the Strait of Hormuz are beginning to weigh heavily on the region’s construction sector, with contractors facing mounting cost pressures, delivery delays and heightened financial risk.
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AD Ports Group, a leading global enabler of trade, industry and logistics solutions, confirms that all operations across its clusters continue as normal in light of current regional developments.
The UAE said yesterday that 17,498 passengers have been transported on 60 flights operated by national carriers since March 1 as part of its emergency flights plan.
The UAE maintains strategic reserves of essential goods sufficient to cover market needs for a period ranging between four and six months, Abdulla bin Touq Al Marri, Minister of Economy and Tourism, said.
Iran has stepped up its attacks on US diplomatic missions in the Gulf, with a drone strike reported near the US Consulate in Dubai late last night. Meanwhile, Qatar said it busted two cells operating for Iran in the country.
New Murabba Development Company, a wholly-owned subsidiary of Saudi Arabia's sovereign wealth fund PIF, has signed a strategic agreement with Electric Vehicle Infrastructure Company (Eviq) for deployment of EV charging infrastructure across key assets within its giga project - New Murabba.
There was little relief for thousands of stranded passengers across the Gulf on Tuesday as sweeping airspace closures and mass flight cancellations continued to paralyse one of the world’s busiest aviation corridors.
Air India Express has announced that it will resume flight operations to and from Muscat starting today (March 3) with scheduled services to Delhi, Kochi, Kozhikode, Mangaluru, Mumbai and Tiruchirappally. It is the first Indian airline to resume operations in the Gulf region in the current scenario.
Investors must prepare now for higher interest rates due to the escalating Iran conflict, warns the CEO of one of the world’s largest independent financial advisory organisations.
Global oil and gas prices surged on Tuesday as the escalating U.S.-Israeli war with Iran disrupted energy exports from the Middle East, triggering supply fears and sending shockwaves through commodity markets.
Saudi utility major Acwa has reported solid results for FY 2025 with its revenue soaring to hit SAR7.41 billion ($1.97 billion) and its net profit recording a 60% growth over the previous year as higher operating income and stronger contributions from operating assets lifted earnings.
Saudi utility major Acwa has reported solid results for FY 2025 with its revenue soaring to hit SAR7.41 billion ($1.97 billion) and its net profit recording a 60% growth over the previous year as higher operating income and stronger contributions from operating assets lifted earnings.
The Federal Authority for Identity, Citizenship, Customs and Ports Security has decided to exempt individuals who were unable to travel from fines for delayed departures due to exceptional circumstances currently affecting the region, which led to the closure of airspace and the temporary suspension of a number of flights.
GCC banking systems face few immediate credit risks from the regional conflict that has followed attacks on Iran by Israel and the US, says Fitch since the GCC sovereign ratings generally have sufficient headroom to withstand a short regional conflict that does not escalate significantly further.
The UAE’s real estate market is one of the Gulf’s most resilient markets and is able to absorb geopolitical shocks thanks to its diversified investment base and openness to global capital flows, according to an expert.
Saudi-based Misk Foundation has appointed Eng. Sami bin Jasser Al Jasser, a strategic development expert, as the new Chief Executive Officer of its mega Mohammed bin Salman Nonprofit City (Misk City) - a first-of-its-kind project coming up on a 3.4-sq-km area in capital Riyadh.
PureHealth, the largest healthcare group in the Middle East, and Yellow Door Energy, the leading sustainable energy partner for businesses in the Middle East and South Africa, have signed a master lease agreement to bring clean electricity to its network of hospitals and clinics in the UAE.
Aluminium Bahrain (Alba), the world’s largest aluminium smelter on one site, has announced a set of leadership appointments that underscore its long-term commitment to succession planning, leadership continuity and the advancement of Bahraini talent into critical leadership roles.
The UAE maintains strategic reserves of essential goods sufficient to cover market needs for a period ranging between four and six months, Abdulla bin Touq Al Marri, Minister of Economy and Tourism, said.
GCC banking systems face few immediate credit risks from the regional conflict that has followed attacks on Iran by Israel and the US, says Fitch since the GCC sovereign ratings generally have sufficient headroom to withstand a short regional conflict that does not escalate significantly further.
Emirates Integrated Telecommunications Company (du) today confirmed that its network infrastructure, core systems and customer channels continue to operate normally, with full-service availability across mobile, fixed and enterprise segments.
New Murabba Development Company, a wholly-owned subsidiary of Saudi Arabia's sovereign wealth fund PIF, has signed a strategic agreement with Electric Vehicle Infrastructure Company (Eviq) for deployment of EV charging infrastructure across key assets within its giga project - New Murabba.
An emergency GCC-EU Ministerial Meeting will be held tomorrow (March 5), reported SPA citing Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi. The meeting will bring together, the foreign ministers of the GCC states and the European Union (EU) member states.
A United States submarine torpedoed and sank an Iranian warship in international waters off Sri Lanka’s southern coast on Wednesday, US Defense Secretary Pete Hegseth confirmed, in an incident that has heightened tensions in the Indian Ocean.
