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REVENUES HIT $6.5bn
Emaar 9-month net profit before tax jumps 24% to $3.4bn
Emaar recorded total revenues of AED23.8 billion ($6.5 billion) and a net profit before tax of AED12.4 billion ($3.4 billion) for the first nine months of 2024, achieving growth of 30% and 24% over the same period last year.
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9-MONTH REVENUE HITS $6.4bn
Dewa posts highest top line results in history with $1.5bn net
Dubai Electricity and Water Authority (Dewa) posted nine-month (9M) cumulative revenue of AED23.5 billion ($6.4 billion), EBITDA of AED11.8 billion, and net profit after tax of AED5.5 billion ($1.5 billion).
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Q3 GAINS SOAR 215%
Alba nine-month profits jump 55.8% to $392m
Aluminium Bahrain (Alba), the world’s largest aluminium smelter on one site, has reported a profit of BD54.5 million ($145 million) for the third quarter of 2024, up by 215% YoY, versus a profit of BD17.3 million ($46m) for the same period in 2023.
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TECHNOLOGY
5G Advanced to be the upgrade that 'will transform daily life'
The upcoming era of 5G Advanced has the power to do more than just improve personal device speeds; it aims to make networks smarter, more efficient and more responsive to real-world needs in ways that could impact everyone.
Top Trade News
 | Industry Sectors |
Kuwait to build over 3,000 residential units in three years
Kuwait has awarded two contracts to build more than 3,000 residential units as part of its Jahra City affordable housing project. In addition, it will implement other key infrastructure work for the project and complete it within a three-year period.
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Spinneys' 9-month revenue hits record $626m; profit up 27pc
Spinneys, the region’s leading food retailer, has delivered solid results for the first nine months with AED2.3 billion ($626 million) record revenue, up 11.4% over last year, while its profit before tax surged by 27.1% to AED203 million ($55.2 million).
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Adnoc Gas to acquire 60pc stake in Ruwais LNG for $5bn
Adnoc Gas, a world-class integrated gas processing company, plans to acquire Adnoc’s 60% stake in the Ruwais Liquified Natural Gas (LNG) plant in the second half of 2028 at about $5 billion.
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Resilience, future-ready strategies in spotlight at Gateway Gulf 2024
Resilience, innovation, and future-ready strategies took centre stage at Gateway Gulf 2024 in Bahrain, as 250 distinguished attendees, including government ministers and business leaders from around the world, convened for the key investment forum.
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5G Advanced to be the upgrade that 'will transform daily life'
The upcoming era of 5G Advanced has the power to do more than just improve personal device speeds; it aims to make networks smarter, more efficient and more responsive to real-world needs in ways that could impact everyone.
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Almarai signs up SIG as strategic partner for 5-year expansion plan
Almarai, the Middle East’s leading dairy and food company, has selected leading Swiss packaging systems group SIG as a strategic partner for its five-year expansion plan aimed at strengthening market leadership and driving sustainable innovation.
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Visit Bahrain eyes 53,000 international tourists by 2025
Visit Bahrain, a leading destination management company in the kingdom, has set an ambitious target to attract 53,000 international tourists into the country by next year. This is likely to bring in nearly $75 million in revenue, said a top official.
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Mobily in deal to lay Saudi's first underwater cable in Red Sea
Etihad Etisalat (Mobily) has signed a deal with Telecom Egypt to establish the first Saudi-owned submarine cable linking Egypt. The cable, wholly-owned by Mobily, will pass under Red Sea, paving the way for enhanced connectivity options towards Europe.
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Octa Properties unveils branded interior design, MarComs vertical
Octa Properties, a leading real estate developer in UAE, has launched its new branded interior design and branded MarComs vertical under the name ‘House of Octa’ following its collaboration with renowned luxury brand Mouawad, as global licensee.
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Cadillac, Al Ghandi start work on a new Abu Dhabi facility
Al Ghandi Auto, a key automotive retailer group in the region, has teamed up with Cadillac Arabia to break ground on its 82,495-sq-ft facility in Abu Dhabi. Set for completion in 2026, the Experience Center will feature an open sales area and VIP lounge.
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ITA partners with Bahrain, UAE to advance 'green' industry
The Industrial Transition Accelerator (ITA) has announced partnerships with governments of the UAE and Bahrain to expand its efforts in industrial decarbonisation across the Middle East and North Africa (Mena) region.
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RCU announces discovery of bronze age town in Saudi Arabia
The Royal Commission for AlUla has announced that a new archaeological research has revealed an exceptional bronze age town in the Khaybar oasis of north-west Saudi Arabia. This discovery reinforces the kingdom's efforts in protecting cultural and histori
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UPAC seeks ideas from Kuwait architecture students for key beach project
In an interesting move, the United Projects for Aviation Company (UPAC) has invited students from the College of Architecture at Kuwait University to contribute their ideas for select interior and exterior spaces at its premium Al Messilah Beach project.
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Bahrain issues over 10,000 Golden Residency permits
Bahrain’s Nationality, Passports, and Residence Affairs (NPRA) has issued over 10,000 Golden Residency permits to recipients from 99 countries, to drive economic and investment growth and attract skilled talent.
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