EMSTEEL, one of the largest publicly traded steel and building materials manufacturers in the region, reported revenues of AED2.4 billion ($653.51 million) for the second quarter of 2026 (Q2), an increase of 11% compared to the corresponding period in the prior year.
Saudi Arabia has launched a major international initiative to safeguard global shipping lanes, securing the backing of 14 countries for a proposed Maritime Defense Alliance as escalating conflict between the US and Iran raises fresh concerns over the security of two of the world's most important maritime trade corridors — the Strait of Hormuz and the Suez Canal.
BYD Energy Storage has announced that it has secured a major contract from Masdar, a global clean energy leader, for a gigascale round-the-clock renewable energy project in Abu Dhabi. The project has a single-station scale of 1,644 MW with 11.275 GWh of BYD Haohan deployed.
Bahrain has reinforced its economic and investment partnerships with France and the Principality of Monaco following a high-level four-day mission led by Noor bint Ali Alkhulaif, Minister of Sustainable Development and Chief Executive of the Bahrain Economic Development Board (Bahrain EDB).
Saudi food company Al Babtain said it has agreed to sell its entire 3% stake in Jordan-based Chocolate Lake Company to Dubai group Indulgent Food International Holding. The deal is part of Indulgent Food's acquisition of a 70% stake in the confectionery maker from existing shareholders.
Investcorp, a leading global alternative investment firm, today announced that it has invested in Berger Financial Group, a leading full-service wealth management platform providing comprehensive financial advisory services to individual investors and retirement savers across the United States.
Saudi Arabia's sovereign wealth fund PIF has anchored the first close of Brookfield Middle East Partners, a new private equity fund focused on Saudi Arabia and the wider Middle East, helping raise about $2 billion alongside other institutional investors.
CB&I, a global EPC company, said its asset solutions business has secured a well engineering services contract from UAE-based Cosmo E&P Albahriya to support drilling, engineering, planning and operational activities at Offshore Block 4 in Abu Dhabi.
Technology company Robo.ai has joined hands with Abu Dhabi-based Eleven International Holdings to set up a new venture, Alif Holding, that will develop intelligent software and smart equipment for government, infrastructure and industrial sectors across GCC and other key global markets.
Explosions hit a natural gas loading port on the Mediterranean Sea in Egypt on Wednesday, and British maritime security company Ambrey said a US-owned floating storage tanker there had been hit by a drone, said media reports in a potential spread of the Middle East war.
