MENA

Lulu Retail’s IPO raises $1.72 billion, share price set at $0.56

The offering garnered aggregate demand exceeding $37 billion from local, regional, and international investors

Official dates revealed for ADIPEC 2025 

40+ ministers and 200+ executives from around the world gathered in Abu Dhabi for ADIPEC 2024

Mastercard joins Buna to facilitate seamless cross-border payments into and out of MENA region

The move will allow global financial institutions to send fast, cost-efficient payments to Buna via Mastercard Move

Air Arabia launches Sharjah-Yanbu flights, bringing UAE-Saudi routes to 12

The new route underscores carrier’s swift growth throughout the Kingdom as tourism and business travel climb 

ADIPEC 2024: UAE plans to invest over $54 billion to meet sustainable energy demand over next six years, says Suhail Al Mazrouei

This initiative is part of the country's commitment to decarbonising the economy and achieving net-zero emissions by 2050 

Saudi Aramco achieves Q3 revenue of $111.1 billion, $27.6 billion in net profit

“Aramco delivered robust net income and generated strong free cash flow during the third quarter, despite a lower oil price environment,” Eng. Nasser said

stc Group achieves highest 9-month revenues of $15 billion, $2.98 billion in net profit

Total revenues grew 3.92 percent compared to the same period last year 

ADIPEC 2024: Microsoft supports energy transition towards more sustainable future 

The booth features a Surface Zone and demo arena for attendees to explore Microsoft’s solutions for operational and environmental goals 

ADIPEC 2024: ADNOC, AIQ developing first-of-a-kind agentic AI solution for global energy transformation

ENERGYai combines large language models with specialized ‘agentic’ AI agents for tasks across ADNOC’s value chain 

DAE signs lease agreements with Hainan Airlines for four new Boeing 737-8 Aircraft

The inclusion of these cutting-edge Boeing 737-8 aircraft will aid Hainan Airlines in achieving its growth and operational goals. 

Qatar affirmed at ‘AA/A-1+’; outlook stable: S&P

Growth momentum is expected to strengthen from 2026, supported by the North Field Expansion (NFE) LNG project

Lulu Retail IPO size increased to 30 percent on ADX

The offer price range remains unchanged, set between AED1.94 and AED2.04 per share

Fitch raises Egypt’s long-term foreign-currency rating to ‘B’ with stable outlook

The agency highlighted improvements in external finances driven by notable foreign investments and strengthened policy initiatives 

Ras Al Khaimah, U.K. Government strengthen partnerships across key trade, investment sectors

The partnership aims to enhance industrial cooperation and facilitate two-way trade between Ras Al Khaimah and the U.K.

OPEC+ extends voluntary oil output cuts until the end of the year

The group is currently cutting 5.86 million barrels per day of output, equal to about 5.7 percent of global demand

IMF to review Egypt’s loan program on Tuesday with GDP growth projected at 4.2 percent for FY2025

Georgieva noted that Egypt's inflation reached 37 percent in 2023 but has decreased to between 25 percent and 26 percent

Sheikh Hamdan reviews RTA’s $4.35 billion 2024-2027 Main Roads Development Plan

The plan will introduce 22 projects throughout Dubai’s growing road network

ADGM launches new ‘Path to Forward’ brand identity

The new brand resonates with the financial centre’s growth, resilience, and optimism 

Oil prices rise as OPEC+ extends production cuts, impacting U.S. election and Chinese stimulus expectations

Brent futures had risen by $1.18 per barrel, translating to a 1.61 percent increase, reaching $74.28 per barrel

Sheikh Hamdan meets Google’s president, emphasizes AI for $27.2 billion annual growth

The discussions centered on enhancing the collaboration with this leading global technology firm

Alpha Dhabi records $3 billion net profit in 9 months

The Group achieved revenue of $12 billion, representing a 36 percent year-on-year increase