Browsing: Business
The Saudi telecom giant stc has posted a 3 percent increase in net profit for 2021, up to SR11.3 billion ($3 billion). A 7.6 percent increase in revenues led to a SR316 million increase in net profit, the Riyadh-based telecom
The foundation stone was laid for the United States Trade Zone (USTZ) at the Salman Industrial City. The ceremony was attended by the Minister of Industry, Commerce and Tourism Zayed bin Rashid Al Zayani, US Ambassador to the Kingdom of
Saudi Arabia has been diversifying its economy, embracing digital transformation, and creating reforms aligned with its Vision 2030. These changes are spurring the growth of the construction industry. The government’s investment in infrastructure and housing development has generated more construction
According to the flash estimate for the growth rate of the real GDP report released recently by the General Authority for Statistics (GASTAT), the real Gross Domestic Product (GDP) of the Kingdom of Saudi Arabia increased by 6.8% in Q4
Aldar Properties announced its preliminary financial results for the full year of 2021, reporting revenues of AED8.58 billion, up 2 percent year-on-year, a gross profit of AED3.60 billion, up 21 percent year-on-year, and a net profit of AED2.33 billion, up
The Kingdom of Bahrain announced the launch of the ‘Golden Residency Visa’ for residents and non-residents, with applications being processed electronically immediately upon meeting the criteria. According to the Kingdom, this move will serve as a catalyst to attract foreign
The Abu Dhabi National Oil Company (ADNOC) announced today the discovery of natural gas resources offshore of the Emirate of Abu Dhabi. Interim results from the first exploration well in Abu Dhabi’s Offshore Block 2 Exploration Concession operated by Eni,
Aldar Properties PJSC (Aldar), through its Aldar Investment business, has made its first investment in Ras Al Khaimah, acquiring the 27,000 sqm Al Hamra Mall developed by Al Hamra, a Ras Al Khaimah based real estate development and investment company,
The Ministry of Finance has announced that the UAE will introduce a federal corporate tax on business profits that will be effective for financial years starting on or after 1st June 2023. Businesses will become subject to UAE corporate tax
Arada, a Sharjah-based development company, has purchased the last remaining beachfront land plot on the Crescent of the world-famous, award-winning Palm Jumeirah, marking the fast-growing developer’s first project outside Sharjah and its entry into the Dubai property market.Valued at AED240