Business & Money | Tuesday 4 March, 2025 11:57 am

BAAN Holding exits Newrest, launches catering ops in NEOM residential project

BAAN Holding Group Co. ceased its partnership with Newrest Catering Services Co., a joint venture (JV) formed to provide catering and hospitality services, in which the former held a 50% stake. In a statement to Tadawul today, March 3, BAAN Holding explained that under the move, it assumed...

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Business & Money | Tuesday 4 March, 2025 11:51 am

Parkin aims for 30% revenue rise in 2025, eyes expansion in Saudi Arabia: CEO

Dubai-listed Parkin expects its revenues to increase by about 30% from AED 405 million to AED 520 million in 2025, after the implementation of the variable tariff, CEO Mohamed Al Ali said. Discussions with Dubai’s Roads and Transport Authority (RTA) are at an advanced stage to finalize the...

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Business & Money | Tuesday 4 March, 2025 11:45 am

PIF, Goldman Sachs sign MoU on investment in Saudi Arabia, GCC

The Public Investment Fund (PIF) and Goldman Sachs Asset Management today announced the signing of a non-binding memorandum of understanding (MoU) for PIF to act as a strategic anchor investor for new private credit and public equity strategies in Saudi Arabia and the wider GCC region. The new ...

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Business & Money | Tuesday 4 March, 2025 11:42 am

MEPCO Lays the Foundation for PM5: A Groundbreaking Leap in Paper Production, Doubling Supply Capacity and Introducing Superior-Quality Paper to the Region

The Middle East Paper Manufacturing and Production Company (“MEPCO”), the leading company in the region's paper industry, announces the laying of the foundation for its 5th paper production line (PM5), the largest of its kind in the Middle East, as part of its strategic plan to strengthen Saudi ...

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Business & Money | Tuesday 4 March, 2025 11:38 am

Emirates NBD becomes the first bank in the MENA region to publish an independent ISSB report aligned with IFRS S1 and S2

Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, has set a new benchmark by leading the way in transparency and accountability with the publication of its first independent Emirates NBD Group 2024 IFRS S1 and S2 report (“ISSB Report”) for the...

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Business & Money | Tuesday 4 March, 2025 11:17 am

Aramco expects dividend payout of SAR 320.4B in 2025

Saudi Aramco expects total dividends of SAR 320.4 billion ($85.4 billion) to be declared this year. In an emailed statement to Argaam, Aramco said this dividend will cover Q1 2025. Dividends, with the related amounts and record dates, will be announced for the rest of 2025 if approved by the...

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Business & Money | Tuesday 4 March, 2025 11:09 am

Aramco expects oil demand growth in 2025: CEO

Saudi Aramco President and CEO Amin Nasser said that the global oil demand reached new highs in 2024, and the growth is expected to continue in 2025. “Our strong net income and increased base dividend illustrate Aramco’s exceptional resilience and ability to leverage its unique scale, ...

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Technology & IT | Monday 3 March, 2025 2:13 pm

HONOR Unveils New Corporate Strategy to Transition to an AI Device Ecosystem Company

Global technology brand HONOR today announced the HONOR ALPHA PLAN, a new corporate strategy to transform HONOR from a smartphone maker to a global leading AI device ecosystem company. The visionary three-step plan details the bold steps HONOR will take to usher in the new intelligent world, and...

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Business & Money | Monday 3 March, 2025 12:40 pm

Dubai's energy demand rises 5.4% in 2024

Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), announced that Dubai's energy demand increased by 5.4 percent in 2024 compared to 2023. Al Tayer said that energy demand in 2024 was 59,594 gigawatt hours (GWh), compared to 56,516 GWh in 2023. He further ...

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Business & Money | Monday 3 March, 2025 12:31 pm

Abu Dhabi real estate transactions hit AED17.24 billion in first two months of 2025

Real estate transactions in Abu Dhabi reached AED17.24 billion in the first two months of 2025, with over 5,000 transactions, reflecting the sector's strong activity. According to the "DARI" platform of the Department of Municipalities and Transport in Abu Dhabi, real estate sales transactions ...

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