Business

E-payments account for 79% of Saudi retail transactions in 2024: SAMA

the financial - 19 April, 2025

RIYADH: Electronic payments made up 79 percent of all retail transactions in Saudi Arabia in 2024, up from 70 percent the previous year, according...

GCC banks poised to weather global trade turbulence: S&P report

the financial - 18 April, 2025

RIYADH: Despite rising global trade tensions and heightened market volatility, banks across the Gulf Cooperation Council are expected to remain resilient, according to a...

Saudi asset management industry hits $266bn, poised for further growth: Fitch Ratings

the financial - 18 April, 2025

RIYADH: Saudi Arabia’s asset management industry grew by 20 percent year on year in 2024, pushing the sector’s total assets to SR1 trillion ($266...

Business

Adnoc Distribution reports record fuel volumes, Ebitda for first nine months of 2024

the financial - 1 November, 2024

Adnoc Distribution on Thursday reported its highest nine-month earnings before interest, taxes, depreciation and amortisation (Ebitda) of $790 million (Dh2.90 billion) and underlying Ebitda...

Business

Aramco, Taulia, SIDF join forces for key supply chain financing solution

the financial - 30 October, 2024

Aramco, a global leader in integrated energy and chemicals companies based in Saudi Arabia, and Taulia, a SAP company and leading FinTech provider of...

Business

ACWA Power signs over $1.78bln of deals in renewable energy, battery projects

the financial - 30 October, 2024

ACWA Power has signed agreements worth over $1.78 billion covering renewable energy, battery storage, and research and development across Gulf countries, China, central Asia,...

Business

Du’s profits rise 49.7% to Dh1.9 billion in 9 months

the financial - 29 October, 2024

Emirates Integrated Telecommunications Company PJSC (du), announced today its financial results for the third quarter of 2024 with a topline growth of 9.1 per...

Business

Top 5 companies worth buying into now for big profits

the financial - 25 October, 2024

You would have heard this before: “If you start investing for retirement through your first full-time job, your investments grow gradually.” But such advice...

Business

UAE retail investors buy the AI dip, data shows

the financial - 24 October, 2024

UAE retail investors have seized the opportunity to buy into the artificial intelligence sector during price dips, while simultaneously increasing exposure to blockchain stocks,...

Business

UAE retailer Lulu to launch IPO next week, sell 25% stake

the financial - 21 October, 2024

UAE's retail giant Lulu Group on Monday announced that it would sell 25 per cent shares through an initial public offering (IPO) with a...

Business

Gold prices break $2,700 level for the first time as uncertainty looms

the financial - 20 October, 2024

Gold breached the $2,700-per-ounce level on Friday for the first time ever, as US election jitters and simmering Middle East tensions boosted safe-haven demand,...

Business

Closing Bell: Saudi main index closes in red at 11,907

the financial - 19 October, 2024

MSCI Tadawul Index decreased by 16.87 points, or 1.12%, to close at 1,490.22 Parallel market Nomu surged, gaining 227.15 points, or 0.87%, to close at...

Business

Serbia secures $205m loan from Saudi Fund for Development

the financial - 17 October, 2024

JEDDAH: Serbia has signed a $205 million loan agreement with the Saudi Fund for Development to enhance its agriculture, education, and energy sectors. Three deals...

Business

The AI-Cybersecurity intersection in the Middle East: A rising threat landscape

the financial - 17 October, 2024

Artificial Intelligence (AI) has taken the IT world by storm in the past two years, revolutionizing various sectors. However, this wave of technological advancement...

Business

Dubai population set to reach 4 million by 2026, report says

the financial - 17 October, 2024

Dubai’s population is projected to hit 4 million by 2026 on a strong inflow of expatriate professionals flocking to the emirate for better job...

Business

Dubai’s Emirates NBD posts flat net profit for third quarter

the financial - 17 October, 2024

Emirates NBD, Dubai's biggest bank by assets, reported on Thursday flat third-quarter net profit, as an increase in net interest income was offset by...

Business

Dubai: Gold prices rise further in early trade

the financial - 15 October, 2024

Gold prices opened higher in Dubai for the second day this week on Tuesday, rising half a dirham per gram. According to Dubai Jewellery Group...

Business

Dubai: Some tenants opt for multiple-cheque rent payments despite higher rates

the financial - 14 October, 2024

As the upward trend in Dubai property rental continues, tenants are opting for multiple cheque payments to manage their costs. The trend of 4-plus...

Business

Turkey’s energy bourse EPIAS to expand operations, may then consider IPO: Minister

the financial - 12 October, 2024

Turkish energy bourse Enerji Piyasalari Isletme A.S. (EPIAS) will expand its operations over the next few years and an initial public offering may be...

Business

UAE: ADNH Catering announces offer price range as IPO subscription opens

the financial - 7 October, 2024

ADNH Catering, a subsidiary of Abu Dhabi National Hotels, announced the offer price range between Dh0.91 and Dh0.96 per share as a subscription for...

Business

Major brands come together to sign $70 million deal

the financial - 4 October, 2024

Kamah Hotels & Resorts, an upcoming luxury and wellness brand, has announced a major partnership with Wyndham Hotels & Resorts. Together, they have signed...

Business