UAE supports Saudi comments on possible oil output cuts, source says
The United Arab Emirates is aligned with Saudi Arabia’s thinking on crude oil markets and supportive of its recent comments, a source with knowledge of the matter told Reuters on Friday. OPEC’s de facto leader Saudi Arabia on Monday flagged the possibility of introducing production cuts to balance an oil market it described as […]
Saudi mining firm Maaden eyes to double fertiliser product exports to India
Saudi Arabian Mining Company (Maaden) is looking to double the export of phosphate products and ammonia to India from 2023 by signing four memorandums of understanding (MOUs) with Indian companies, the state-owned Saudi Press Agency (SPA) reported. “India is the largest import market for phosphate and ammonia in the world,” said Maaden CEO Robert Wilt, […]
Saudi’s Al Hammadi records 67.5% higher profits in H1-22 interim results
Al Hammadi Company for Development and Investment generated SAR 127.06 million in net profit after Zakat and tax during the first half (H1) of 2022, an annual jump of 67.54% from SAR 75.84 million. Revenues surged by 18.36% to SAR 532.83 million in January-June 2022, compared to SAR 450.19 million during the same period […]
Saudi Dar Alarkan’s profits exceed $83.46mln in H1-22
Dar Alarkan Real Estate Development Company posted a 515.38% surge in net profit after Zakat and tax to SAR 313.60 million during the first half (H1) of 2022, versus SAR 50.96 million in H1-21. Revenues increased by 104.64% year-on-year (YoY) to SAR 2.29 billion in H1-22, compared to SAR 1.12 billion, according to the […]