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Arab National Bank reports 29% rise in profit to $360m for H1

RIYADH: Arab National Bank has posted a 29 percent increase in profit to SR1.4 billion ($360 million) for the first half of 2022, a bourse filing revealed.

Saudi Kayan Petrochemical posts 22% decline in half-year profits

RIYADH: Saudi Kayan Petrochemical Co. has posted a 72 percent profit decline to SR360 million ($96 million) for the first half of 2022, according to a bourse filing.

Russian FM lauds ‘balanced’ Arab position on Ukraine

CAIRO: In a speech at the Arab League in Cairo, Russia’s foreign minister praised member states’ “balanced, just and responsible position” on his country’s conflict with Ukraine. Sergey Lavrov also

Egypt’s B2B trade market platform Cartona raises $12m to fund

RIYADH: Egypt-based B2B trade market platform Cartona has raised $12 million through a series A funding round led by global venture capital firm, Silicon Badia. The platform connects retailers and

UAE selects first Arab astronaut to embark on 6-month space station

Get the latest breaking news and headlines from the largest Arab News website. Get world news, sport news, business news, entertainment, lifestyle, video and photos.

Saudi petrochemical firm Yansab sees 44% profit drop on higher costs

RIYADH: Saudi-listed Yanbu National Petrochemical Co., known as Yansab, reported a 44-percent profit drop to SR571 million ($152 million) for the first half of 2022.

Partisan divides impede US response to climate change

US President Joe Biden promised major progress toward addressing climate change, including significant cuts in US emissions. More than a year into his presidency, his climate agenda has hit obstacles

UAE hospitality platform Qstay raises $6.5m seed round

RIYADH: UAE-based hospitality platform Qstay has raised a $6.5 million seed funding round, in a mix of debt and equity. The company currently operates as a virtual hotel brand with 200 units as it

UAE In-Focus — UAE bank enters metaverse; CVC-owned TMF group

DUBAI: Commercial Bank International has announced the launch of its virtual location in the metaverse. It is the first-ever bank in the UAE to exist in the virtual world, according to a statement.

Saudi Arabia, Iraq helping Europe’s oil refineries with more crude

RIYADH: Saudi Arabia and Iraq are helping Europe’s oil refiners with more crude in an effort to help the continent reduce its reliance on Russia, Bloomberg reported. According to data compiled by

Protesters interrupt Tour de France again

CAHORS, France: Protesters held up the Tour de France on Friday during its 19th stage run from the Pyrenees to Cahors. The race had been underway for around 30 minutes when a leading group of five

Saudi Arabia foils attempt to smuggle over 14 mln Captagon tablets

Saudi Arabia’s Zakat, Tax and Customs Authority (ZATCA) foiled an attempt to smuggle about 15 million Captagon tablets through the Jeddah Islamic Port, the Saudi Press Agency (SPA) reported Friday. A

SAMI and BAE Systems announcement to boost Saudi defense industry

RIYADH: Saudi Arabian Military Industries’ CEO has hinted his firm and BAE Systems will soon make announcements aimed at boosting the “indigenous capability” of Saudi Arabia’s defense industry.

Yara Shahidi to star in new Dior ad campaign, alongside Natalie

DUBAI: Iranian-American actress Yara Shahidi is set to star in a brand new advertising campaign for Rouge Dior Forever, alongside Israeli-American star Natalie Portman, according to a report in

Snap to slow hiring after dismal earnings pummel stock price

SAN FRANCISCO: Snapchat’s owner plans to “substantially” slow recruitment after bleak results Thursday wiped 25 percent off the stock price of the tech firm, which is facing difficulties on several

TASI extends gain on expectations of strong earnings results: Closing

RIYADH: Saudi stocks continued to rebound, ending the week’s final session with a positive tone, as investors awaited strong earnings results. The main index, TASI, gained 1.04 percent reaching

Europe’s wildfire threat eases but blaze grows in Slovenia

MADRID: Europe’s spate of fierce wildfires abated somewhat Thursday amid cooler temperatures, with French firefighters starting to get the upper hand over two major blazes, Spain taming a fire that

NRG Matters — China solar installations rise 137% during H1; DEWA to

RIYADH: On a macro level, China solar installations have jumped by 137 percent during the first half of 2022, compared to a year earlier. Zooming in, Dubai Electricity & Water Authority is planning

OIC chief meets with Pakistan’s permanent representative to

RIYADH: The secretary-general of the Organization of Islamic Cooperation met with Pakistan’s permanent representative to the inter-governmental organization in Jeddah on Tuesday. Hissein Brahim Taha

Saudi Arabia leads GCC with 77% growth in project contract awards in

RIYADH: Saudi Arabia leads the Gulf Cooperation Council region with $16.5 billion worth of projects awarded during the second quarter of 2022, according to the latest data released by asset

Egyptian, Serbian presidents hold talks in Belgrade

CAIRO: Serbian President Aleksandar Vucic received his Egyptian counterpart Abdel Fattah El-Sisi at the presidential palace on Wednesday. El-Sisi headed to Belgrade after concluding an official visit

“PARADIS”, an exhibition by Danelle Bergstrom, inspired by the Åland Islands, is on view at Galleri Skarpans until 30 July 2022

ÅLAND ISLANDS, FINLAND – Media OutReach – 20 July 2022 – Galleri Skarpans, located in the idyllic Åland Islands in the Baltic Sea between Sweden and Finland, presents an emotive exhibition of new oil paintings by renowned Australian artist, Danelle Bergstrom, with the largest paintings spanning almost 2 meters in width. This is the latest exhibition of Bergstrom in Finland and follows the unveiling of her portraits […]

How Saudi artist Sarah Brahim combines dance with visual art

DUBAI: Saudi artist Sarah Brahim is making waves with her multidisciplinary collaborative work — ahead of her showing at the Lyon Biennale in September, the Riyadh-based choreographer, dancer and

China In-Focus — Stocks rise; Loan-support to developers amid

RIYADH: China stocks rose on Monday after the governor of the country’s central bank vowed to increase the implementation of prudent monetary policy to support the real economy. Financials and

UAE In-Focus: Dubai remains top FDI destination for tourism in 2021;

Dubai ranked number one in foreign direct investment capital, projects, and job creation in the tourism sector in 2021 with 6.4 billion dirhams ($1.7 billion) in FDI across 30 projects, according to

MENA Project Tracker — UAE invests in space sector; Chinese

RIYADH: The UAE space agency has announced plans to invest 3 billion dirhams ($816 million) in further developing radar satellites and its space program. It will enhance the latest Synthetic Aperture

Riyad Bank’s shareholders to receive $400m in dividends for H1

RIYADH: Riyad Bank’s shareholders are set to receive a total of SR1.5 billion ($400 million) in cash dividends for the first half of 2022.

Saudi basketball team knocked out of Asia Cup after 74-64 loss to

The Saudi national basketball team has been eliminated from the 2022 FIBA Asia Cup after losing 74-64 to Jordan in Jakarta on Saturday. The Falcons needed to win their last Group A match and hope

Middle East filmmaker and actress on Venice jury with Julianne Moore

DUBAI: French-Lebanese filmmaker Audrey Diwan and Iranian actress Leila Hatami have been announced as members of the jury at the 79th Venice International Film Festival, held from Aug. 31 to Sep. 10.

Biden invites United Arab Emirates president to US

JEDDAH: US President Joe Biden on Saturday invited Emirati President Sheikh Mohammed bin Zayed Al-Nahyan to visit the United States, Agence France Presse reported. “Challenges you face today only