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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Business & Money | Monday 3 March, 2025 12:23 pm

2P wins SAR 38.4M contract from Ministry of Islamic Affairs

Perfect Presentation Co. for Commercial Services Co. (2P) won today, March 2, a SAR 38.4 million project (VAT inclusive) to provide managed information technology (IT) services project for the general administration of the Ministry of Islamic Affairs, Dawah and Guidance’s (MOIA) systems and its...

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Business & Money | Monday 3 March, 2025 12:11 pm

Retal’s project portfolio hits SAR 17B, market outlook positive: CFO

Retal Urban Development Co.’s revenue growth in 2024 was primarily driven by higher unit sales and the launch of new projects, with more than six ongoing projects added during the year, CFO Ammar Al-Ghoul said. In an interview with Al Arabiya TV, Al-Ghoul explained that Retal’s project...

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Business & Money | Monday 3 March, 2025 11:59 am

Eastward shift of capital points to a permanent realignment of global finance HSBC Global Research expects MENAT GDP to reach almost US$4 trillion by the end of 2025

 The Middle East is at the center of a fundamental transformation as global capital flows shift towards new engines of growth. According to Selim Kervanci, Chief Executive Officer, Middle East, North Africa and Türkiye (MENAT), HSBC Bank Middle East: “Traditional financial centres are...

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