Dubai-listed Salik Company PJSC delivered a compelling financial performance in the second quarter of 2025, with net profit leaping 50 per cent from a year earlier to AED 400 million. The company’s revenue for that quarter climbed to AED 776 milli…
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The banking sector in the UAE continues to show impressive performance, outpacing its GCC counterparts in profitability and growth. A new report by CI Capital highlights the significant strength of the UAE banks, attributing this success to a favo…
The Abu Dhabi Securities Exchange has taken a significant step forward in its mission to enhance digital trading capabilities by onboarding Thndr, a prominent retail investment platform, as its first remote retail trading member. This marks a piv…
Dana Gas PJSC, the UAE's largest private natural gas company, has announced a second-quarter net profit of $30 million, a decrease from the $34 million reported in the same period last year. This marks a 12% dip in profits, primarily due to a …
Business leaders and executives in the UAE have shown remarkable confidence in artificial intelligence to make high-stakes decisions that impact their organisations. According to a recent survey by technology services provider Endava, this trust …
Spinneys, one of the UAE's leading grocery chains, reported a significant increase in net profit for the second quarter of 2025, driven by strong sales performance. The company’s net profit surged by 18.5%, reaching AED 85 million, up from AED…
Qatar is positioning itself to become a leading player in the global tokenisation landscape, with projections suggesting that the tokenisation market could reach $16 trillion by 2030. The Qatar Financial Centre has partnered with Global Stratalog…
Saudi Arabia maintained its position as the Gulf Cooperation Council region’s dominant issuer of bonds and sukuk during the first half of 2025, although total debt issuances fell by 20% compared to the previous year. According to a report from Ku…
Abu Dhabi-based Fertiglobe, the largest nitrogen fertilizer producer in the Middle East and North Africa, has announced a net profit of $20.2 million for the second quarter of 2025. This marks a rise from the $14.3 million recorded during the same…
A landmark strategic agreement between GMG and Amazon has launched a new era in e‑commerce across the Middle East and North Africa. The collaboration aims to deliver compelling prices and curated offers on GMG’s core categories—Sports, Health &…
The UAE’s Federal Tax Authority has issued a final reminder for businesses and exempt individuals subject to Corporate Tax to complete their registration and file their first tax returns by the 31st of July. This deadline is crucial for those loo…
Emirate-owned Emirates NBD has recorded a 9 percent drop in its net profit for the first half of 2025, reporting AED 12.5 billion, down from AED 13.8 billion during the same period last year, the bank announced on Thursday. The decline has been at…
ROSHN Group has entered strategic collaborations with Singapore’s leading technology and entrepreneurship organisations as part of a major initiative to transform Saudi Arabia’s real estate development landscape. The agreements, signed under the R…
Authorities in the United Arab Emirates have unveiled a significant overhaul of the excise tax framework for sugar-sweetened beverages. A new tiered volumetric system will link the levy applied per litre directly to a drink’s sugar concentration p…
The UAE Ministry of Finance has launched its federal general budget cycle for 2027–2029, transforming fiscal management into a strategic instrument aimed at bolstering sustainability, innovation and national economic goals. Sheikh Maktoum bin Moha…
Eni and Khazna have formalised a preliminary agreement to build a 500 MW AI‑oriented data centre campus in Ferrera Erbognone, near Milan, marking the first phase of a broader drive to establish up to 1 GW of IT capacity across Italy under Italy–UA…
Saudi Arabia’s Cabinet has approved a transformative update to property laws that will permit non-citizens to own real estate in designated zones, effective January 2026. Majed Al‑Hogail, Minister of Municipalities and Housing and Chair of the Rea…
Saudi Central Bank’s balance sheet expanded to roughly SAR 2 trillion by the end of May 2025, marking an advance of around 5 percent from the prior year. This milestone reflects substantial accumulation in reserve assets, reinforcing the kingdom’…
Aldar Properties has acquired warehousing and light industrial assets in Al Dhafra’s ALMARKAZ Industrial Park from Waha Capital for AED 530 million, adding 182,500 m² of net leasable area to its logistics platform.
The assets, comprising 17 bu…
UAE’s National Central Cooling Co and CVC’s infrastructure arm, CVC DIF, have agreed to acquire Abu Dhabi-based PAL Cooling Holding from Multiply Group in a deal worth AED 3.8 billion, the firms announced. The transaction, currently awaiting regu…
Dubai’s Roads and Transport Authority, working with US-based Joby Aviation, has achieved a milestone by completing the first piloted test flights of its electric air taxi in the emirate. The eVTOL aircraft—designed to carry a pilot and four passen…
Mercedes‑Benz Cars Middle East has appointed Michael Stroband as its new President and Chief Executive Officer, underlining the region’s growing strategic significance within the global luxury carmaker. Stroband assumes leadership from Martin Schu…
A groundbreaking development is changing the face of Sheikh Zayed Road as Omniyat unveils the 48‑storey Lumena tower, a visionary commercial workspace. Scheduled for handover in Q3 2029, the project — with a gross development value of AED 3.6 bill…