Business & Money | Wednesday 31 July, 2024 11:01 am

Borouge reports $308 million net profit in Q2 2024

Borouge Plc has reported a 33% year-on-year (YoY) increase in second-quarter net profit to $308 million, powered by higher sales and cost efficiencies as the company recorded its highest ever production volumes. Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA)...

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Business & Money | Wednesday 31 July, 2024 10:55 am

Qomel renews credit facilities deal worth SAR 67.6M with SNB

Qomel Co. renewed a SAR 67.63 million Shariah-compliant credit facilities agreement with Saudi National Bank (SNB).  According to a statement to Tadawul today, July 31, the one-year facility is guaranteed by a waiver of the revenues of the financed projects...

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Business & Money | Wednesday 31 July, 2024 10:51 am

ROSHN Announces Iconic 45,000-Seat Stadium in Southwest Riyadh

ROSHN Group, Saudi Arabia’s leading multi-asset class real estate developer and a PIF Company, has announced the development of an iconic 45,000-seat stadium spanning over 450,000 square meters in Southwest Riyadh. The landmark mixed-use project will encompass a wide range of shops,...

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Business & Money | Wednesday 31 July, 2024 10:21 am

Onesto Home reports 125% growth in Dubai, enhancing online sales and product range

Onesto Home has achieved a remarkable 125% year-over-year growth in Dubai, driven by enhanced online sales strategies and expanded product offerings. The brand continues to innovate with new styles and materials, meeting the diverse needs of its customers and solidifying its market...

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Business & Money | Wednesday 31 July, 2024 10:08 am

Equipment House awarded SAR 223.56M project by KKMC

King Fahd Medical City (KKMC), part of the Second Riyadh Health Cluster awarded Scientific and Medical Equipment House Co. a project for a catering services contract , valued at SAR 223.56 million (including VAT). The contract, whose term is five years, is expected to have a positive financial ...

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Business & Money | Wednesday 31 July, 2024 10:02 am

EWEC receives four proposals for development of Saadiyat Island RO Desalination Project

Emirates Water and Electricity Company (EWEC) has announced that it has received four proposals from Acciona Agua, Engie, GS Inima Environmental and a consortium comprised of FCC Aqualia and Orascom Construction Industries for the development of the Saadiyat Island Reverse Osmosis (RO) Independent...

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Business & Money | Wednesday 31 July, 2024 9:57 am

NAHDI SHIFTS GEAR TO GROWTH AS Q2 2024 REVENUE INCREASES 10.8% YOY

Nahdi Medical Company (“Nahdi” or “the Company”), Saudi Arabia’s leading purpose-driven healthcare and wellbeing Company, today reported its financial results for the second quarter of 2024 (“Q2 2024”) and for the first six months of 2024 (“H1 2024”). Financial Summary Q2...

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Business & Money | Wednesday 31 July, 2024 9:15 am

MENA M&A activity saw 321 deals valued at US$49.2b in H1 2024

According to the EY MENA M&A Insights H1 2024 report, the MENA region witnessed a slight increase in merger and acquisition (M&A) activity with a total of 321 deals amounting to US$49.2b. When compared to H1 2023, deal volume this year grew by 1%, while deal value saw a rise of...

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Business & Money | Wednesday 31 July, 2024 8:49 am

Tajer Abu Dhabi introduces 12 new activities to facilitate establishing and doing businesses

The Abu Dhabi Business Centre at the Abu Dhabi Department of Economic Development (ADDED) announced the addition of 12 new economic activities to the Tajer Abu Dhabi (Abu Dhabi Trader) license, allowing investors to obtain economic license without the need to work from a physical location or to pay ...

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Business & Money | Wednesday 31 July, 2024 8:45 am

CIPS Global State of Procurement and Supply 2024 Report: A Comprehensive Insight into the Future of Procurement

The Chartered Institute of Procurement & Supply (CIPS) recently published the highly anticipated Global State of Procurement and Supply 2024 report, in partnership with GEP. The survey, which gathered insights from chief procurement officers (CPOs), procurement directors, and heads of...

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