Saudi utility major Acwa has reported solid results for FY 2025 with its revenue soaring to hit SAR7.41 billion ($1.97 billion) and its net profit recording a 60% growth over the previous year as higher operating income and stronger contributions from operating assets lifted earnings.
Saudi-based oil drilling group ADES Holding beat analyst expectations with a 2 per cent rise in annual net profit and reiterated its strong growth forecast for this year despite some rig suspensions last year and recent halts due to the Iran war.
Saudi-based Misk Foundation has appointed Eng. Sami bin Jasser Al Jasser, a strategic development expert, as the new Chief Executive Officer of its mega Mohammed bin Salman Nonprofit City (Misk City) - a first-of-its-kind project coming up on a 3.4-sq-km area in capital Riyadh.
Saudi Holding Company for Conversion Industries (Tahweel Holding) has entered into a deal with leading petrochemical group Tasnee to acquire 100% of the share capital of its entity - Al Rowad Industrial Transformation Company (Target Company) for SAR700 million ($186.4 million).
Kuwaiti low-cost carrier Jazeera Airways has announced the resumption of its flights to the Saudi port city of Jeddah via Qaisumah Airport (AQI), as part of the airline’s expanded dual-base operations. This route will support both passenger travel and the continued movement of essential goods.
Saudi Arabia's East-West pipeline, which circumvents the Strait of Hormuz, is pumping oil at its full capacity of 7 million barrels a day, Bloomberg News reported, citing a person familiar with the matter.
Kuwait Financial Centre has announced the launch of its next-generation digital trading platform - iMarkaz Invest - designed to enhance the client experience and expand access to financial markets in Kuwait, Saudi Arabia, UAE and US through a secure, intuitive, and efficient digital interface.
Construction on the King Abdullah Gardens (KAGA) is advancing rapidly, marking significant progress on one of Riyadh's most prominent environmental initiatives. Spanning more than 2 million sq m, KAGA ranks among the world's three largest covered botanical gardens.
United Maintenance and Contracting Company (Unimac), a specialised heavy civil contracting company based in Saudi Arabia, has announced that it has officially signed a strategic agreement with ProGrowth Company for collaboration on leading projects in the kingdom.
Saudi religious leaders have announced that the Eid Al Fitr will be celebrated on Friday in the kingdom and across the Gulf region after the Shawwal crescent moon was not sighted on Wednesday (March 18) evening. Muslims in the region will therefore fast for 30 days this year.
