DUBAI: DP World, the international ports and logistics business based in the UAE, handled more containers last year than at any time in its history, as the growing world economy boosted global trade.
In its annual assessment of container traffic through its ports, the company reported that more than 70 million TEUs — 20 foot equivalent units — passed through ports it either owned or had a significant presence in. That outcome was a 10 percent rise over 2016, beating forecasts of 6 percent by industry experts Drewry Maritime.
Sultan Ahmed bin Sulayem, the group chairman and CEO, said: “Benefiting from the improved trading environment and market share gains, our global portfolio once again delivered ahead-of-market growth in 2017 and has seen strong performance across all three regions.”
There were double digit increases in volumes in the Americas and Australia, at 13.8 percent ahead, and in Europe, Middle East and Africa, 11.5 percent up. The Asia Pacific and India subcontinent was 7.9 percent ahead in volumes.
Last year also saw a revival of business in DP World’s key port at Jebel Ali in Dubai, its most important profit center, which had suffered from declining trade volumes in 2016. The UAE contributed 15.4m TEU to the total, 4 percent ahead.
“We are also pleased to see stable performance in the UAE as volumes continue to grow in the fourth quarter of 2017 amidst uncertainty in the region and tougher year-over-year comparables. The performance across our other terminals in the Middle East & Africa remains strong, in addition to Europe and the Americas,” bin Sulayem added.
Consolidated terminals — ones wholly owned by DP World — accounted for roughly half of the total.
DP World shares, traded on the Nasdaq Dubai market, bucked the trend of falling equities markets in the region to inch ahead by 0.1 percent.
In the UAE, the company still has no date for the completion and opening of terminal 4 (T4) in Jebel Ali. It said recently that it was looking to launch T4, which will lead to a big expansion in capacity, when justified by market conditions.
DP World is expecting a significant impact on its operations over the next two years as business grows to build and accommodate the Expo2020 exhibition in the UAE. Its port and connected industrial zone is close to the Expo site in south Dubai and the new airport facilities at Dubai World Central.
Industrial parks and economic zones will be a feature of future expansion strategy, already pioneered at the London Gateway development in Britain, and at several other locations in the Americas and Africa.
It is also likely to increase its interest in the Red Sea region. DP World already has port facilities in Jeddah, where there is a big infrastructure investment program under way, and in Egypt’s new Suez Canal industrial zone.
Record container traffic reported in global trade boost by DP World
Record container traffic reported in global trade boost by DP World
Esports World Cup Foundation announces multi-year partnership with Capcom
- The Capcom Pro Tour and Street Fighter League integrated into the EWC ecosystem for the next three years
RIYADH: The Esports World Cup Foundation and Capcom have announced a multi-year partnership that integrates the Street Fighter e-sports ecosystem — Capcom’s Capcom Pro Tour and Street Fighter League — into the Esports World Cup for the next three years.
“Street Fighter has been at the heart of competitive gaming for decades, offering a pure test of individual skill, just you against your opponent,” said Fabian Scheuermann, chief games officer at EWCF.
“Its arcade roots created a social experience that still thrives today, from local communities to global arenas. Together with Capcom, we are creating new ways for fans and players to experience the game, while unifying the competitive ecosystem and ensuring the best players have a clear path to the biggest stage.
“Fighting games are a true test of skill, strategy, and resilience, and by bringing the Street Fighter 6 circuit to EWC, we are celebrating its legacy with a new generation of players and fans, strengthening its role in the wider gaming culture.”
As part of the agreement, the top eight players from Capcom Cup 11— the pinnacle of the Capcom Pro Tour (CPT) — and 12 players from the Street Fighter League: World Championship, featuring elite competitors from Japan, the US and Europe, will earn direct qualification for the EWC 2025 Street Fighter 6 Finals.
An additional 10 slots will be awarded to winners of Capcom Pro Tour 2025 events, including Evo Japan and Vegas, CPT Combo Breaker, Blink Respawn, and CPT CEO, leading up to August 2025.
The remaining slots will be available to winners of professional and grassroots Street Fighter 6 events worldwide, including the EWC Last Chance Qualifiers in August 2025, culminating in 48 players competing on stage at the Street Fighter 6 Finals in Riyadh.
The partnership follows the previously announced return of Street Fighter 6 to EWC 2025, and kicks off on March 9, 2025 at the Street Fighter League: World Championship event in Ryogoku Kokugikan, Japan.
“Through the Capcom Pro Tour and Capcom Cup, Street Fighter has been a cornerstone of the e-sports scene for the past 10 years, celebrated for its fast-paced action, dramatic comebacks, and clutch moments that make it one of the most thrilling games to play and watch,” said Shuhei Matsumoto, producer, Street Fighter 6. “Our partnership with the Esports World Cup fosters an even deeper engagement between our players, fans and audiences worldwide. And this is just the beginning, together with EWC, we will continue to grow and innovate, and inspire the next generation of players.”
Street Fighter 6 made history as the first fighting game to join the inaugural Esports World Cup last summer, with qualifiers held around the world to enable grassroots participants to secure a spot on a pathway to the tournament. With 32 elite players from around the globe, the competition drew a viewing audience of more than six million. The event concluded with the dramatic EWC Street Fighter 6 Finals where the fighting game veteran, Zeng “Xiao Hai” Zhuojun, cemented his legacy with a dominant performance and a share of the $1,000,000 prize pool.
Saudi clubs edge closer to success in AFC Champions League divisions
- With all Elite competition matches from the quarterfinals on taking place in Jeddah, few will bet against a Saudi side landing Asia’s premier club competition
RIYADH: Saudi clubs’ continued outstanding performances in the 2024/2025 AFC Champions League competitions underlined why for many people they remain favorites for the big prizes.
Al-Hilal, Al-Nassr, and Al-Ahli have reached the quarter-finals of the main, “Elite” tournament, while Al-Taawoun made history by advancing to the semi-finals of AFC Champions League 2. These achievements show the growing strength of Saudi club football in Asia. Here are some of the highlights after the latest round of matches.
Al-Hilal’s big comeback win highlights dominance
Al-Hilal, after losing the away leg 1-0 to Pakhtakor of Uzbekistan, in the second leg in Riyadh on Tuesday night pulled off an outstanding comeback with a 4-0 victory that included goals from Hamad Al-Yami, Malcom, Salem Al-Dawsari and Nasser Al-Dawsari. With a spot in the quarterfinals confirmed, they will again be one of the favorites to take the trophy, and for a record fifth time.
Mahrez stars in solid Al-Ahli performance
Al-Ahli secured their quarterfinal place with a 2-0 win over Al-Rayyan in the second leg at King Abdullah Sports City Stadium in Jeddah, having won the away fixture 3-1 in Qatar. Riyad Mahrez scored two late goals, helping the team to a comprehensive 5-1 win on aggregate. With Mahrez, Ivan Toney and Roberto Firmino providing the firepower, few teams would want to face Al-Ahli in the knockout stages.
Duran and Ronaldo help Al-Nassr cruise into quarterfinals
After a goalless first leg in Iran, Al-Nassr dominated Esteghlal in the last 16 return leg in Riyadh to win 3-0 and cruise into the quarterfinals.
Jhon Duran scored in the ninth and 84th minutes with Cristiano Ronaldo’s 27th minute penalty sandwiched in between. With all matches from the quarterfinals on taking place in Jeddah, it is difficult to see the next Champions League Elite winner not being from Saudi Arabia.
Al-Taawoun’s historic achievement
In AFC Champions League 2, Al Taawoun reached the semi-finals after beating Iranian club Tractor SC 4-2 in a penalty shootout after the second leg finished 2-2. The teams played out a 0-0 draw in Iran on March 4.
The win by Taawoun, who are eighth in the Saudi Pro League, shows that clubs from the Kingdom are competitive at both levels of this season’s AFC Champions League. Al-Taawoun will now face the UAE’s Sharjah in the semifinals.
With four teams still in contention, this could well be the year that Saudi clubs take full control of Asian football.
Saudi money supply hits $791bn as demand deposits regain ground
RIYADH: Saudi Arabia’s money supply climbed to SR2.97 trillion ($791 billion) in January, marking a 9 percent annual rise, official data showed.
According to figures from the Saudi Central Bank, known as SAMA, demand deposits accounted for 48.75 percent of the total, reaching SR1.45 trillion. While still below the April 2021 peak of 60.21 percent, they edged up from 48.42 percent a year ago, reflecting shifting monetary conditions.
Time and savings deposits — which surged during the US Federal Reserve’s aggressive rate hikes, mirrored by Saudi Arabia due to the riyal’s peg to the US dollar — reached SR985.03 billion in January, accounting for 33.21 percent of total deposits.
As the Fed began easing monetary policy in September, lowering interest rates from their 6 percent peak to 5 percent by December, time deposits started to decline from their 33.61 percent high in November.
This shift reflects a gradual return to shorter-term deposit preferences as rate-sensitive accounts adjust to a lower-yield environment.
The third-largest category, other quasi-money deposits — including residents’ foreign currency accounts, marginal deposits for letters of credit, outstanding remittances, and bank repo transactions with the private sector — stood at SR301.28 billion, making up 10.16 percent of total deposits. Currency outside banks totaled SR233.71 billion.
Over the past two years, the Fed’s aggressive rate hikes aimed at curbing inflation led to a rise in term deposits as customers sought higher-yielding accounts, but with benchmark rates now easing, demand deposits have started to regain share.
Despite the 9 percent annual rise in money supply, deposit growth continues to lag behind bank lending, which surged 14.66 percent during the same period to exceed SR3 trillion for the first time. This growth has been driven by corporate credit expansion, particularly in real estate, infrastructure, and other key Vision 2030 sectors.
As deposit inflows moderate, Saudi banks have increasingly turned to external borrowing to bridge funding gaps. Recent issuances of euro-denominated bonds highlight the evolving financing landscape, with the debt capital market playing an increasingly pivotal role.
Speaking at the Capital Markets Forum 2025 in Riyadh in February, Mohammad Al-Faadhel, assistant deputy of financing at the Capital Market Authority, highlighted how Vision 2030 has transformed Saudi Arabia from a capital exporter to a credit-driven market, accelerating debt market growth.
Al-Faadhel noted that the Sukuk and Development Capital Market Committee was established in collaboration with key stakeholders to remove obstacles and support market expansion.
With ongoing structural reforms, Saudi Arabia’s financial ecosystem is evolving rapidly, setting the stage for continued growth in capital markets, corporate lending, and alternative financing mechanisms under Vision 2030.
Loan-to-deposit ratio holds steady
Saudi Arabia’s loan-to-deposit ratio rose to 82.78 percent in January, up from 80.05 percent in the same month last year, yet slightly lower than December’s 83.24 percent, according to SAMA data.
The LDR, a key banking metric, measures the proportion of loans issued by banks relative to their total deposits, indicating liquidity levels and lending capacity.
The increase over the past year reflects strong credit demand, particularly from corporate borrowers in key Vision 2030 sectors such as real estate, infrastructure, and industrial expansion.
However, the slight month-on-month decline suggests a stabilization in lending activity, as banks balance loan issuance with available deposit inflows. Despite the surge in credit, the LDR remains well below the regulatory cap of 90 percent, ensuring ample liquidity and financial stability within the banking system.
This ratio is closely monitored by regulators and investors as it influences banks’ ability to extend new loans while maintaining a healthy funding base.
BSF, Diriyah Co. ink $1.6bn financing deal to develop Wadi Safar project
JEDDAH: Banque Saudi Fransi has signed a financing deal worth SR6 billion ($1.6 billion) with Diriyah Co. to develop the Wadi Safar project, highlighting the private sector’s role in driving economic growth.
The development is a key cultural and tourism destination within the larger Diriyah area, which aims to attract over 50 million visitors by 2030 while supporting major initiatives, according to the bank, which rebranded as BSF in June after 48 years in the market.
During the signing ceremony, Bader Al-Salloom, CEO of BSF, and Jerry Inzerillo, CEO of Diriyah Co., emphasized the importance of this partnership in achieving sustainable development and enhancing Diriyah’s position as a prominent cultural and historical hub.
The agreement between the two parties aligns with Saudi Vision 2030’s goal of transforming the Kingdom into a global tourist destination. The Diriyah Gate Development Authority has set a precedent by blending respect for heritage with innovative, sustainable ventures, such as Al-Bujairi Terrace, which has become a major tourist attraction since its opening in 2022.
The deal is also part of BSF’s initiatives to back significant development projects that boost infrastructure, promote tourism, and drive economic growth in Saudi Arabia, the bank said in a statement.
The Wadi Safar project, introduced in December 2023 by the DGDA, is one of the three main initiatives under the Diriyah Co’s development plan.
It covers an area of approximately 62 sq. km and is set to become an upscale residential community, including high-end hospitality facilities, recreational and sports venues, and advanced commercial and retail spaces.
The project will offer premium real estate units designed to cater to the needs of both investors and visitors. Moreover, Wadi Safar’s gated community will serve as an oasis within Riyadh, featuring three major resorts: Six Senses, Aman, and Oberoi.
It is also the location for the ongoing development of the Greg Norman-designed championship signature golf course and Royal Diriyah Golf Club.
The Diriyah development project aims to generate around 178,000 job opportunities and is expected to contribute SR18.6 billion to the Kingdom’s gross domestic product upon completion.
UAE joins dividend surge as global payouts hit record $1.75tn in 2024
RIYADH: The UAE was among 17 countries setting new dividend records in 2024 as global payouts surged to a record $1.75 trillion, marking a 6.6 percent increase from the previous year, a new report showed.
According to research by trading platform eToro, UAE-listed companies maintained steady dividend distributions, driven by strong performances in the banking, energy, and real estate sectors.
This comes as Saudi-listed companies also made significant dividend moves in 2024, with energy firm Aramco declaring a total payout of $85.4 billion despite a drop in net profit, while Al Rajhi Bank’s total shareholder payments reached SR10.84 billion ($2.89 billion), combining a first-half cash dividend of SR5 billion and a second-half payout of SR5.84 billion.
“The financial sector has been a standout performer, with UAE banks benefiting from higher interest rates and economic expansion. Abu Dhabi Islamic Bank, for instance, raised its dividend payout to 50 percent of its annual profit, reflecting the sector’s robust earnings growth,” said Josh Gilbert, a market analyst at eToro.
Energy companies also played a significant role, with ADNOC Gas announcing a $3.41 billion dividend, supported by high oil prices and a commitment to 5 percent annual dividend growth.
In the real estate sector, Emaar Properties doubled its dividend to 8.8 billion dirhams ($2.4 billion), backed by record property sales and strong market demand.
For income-focused investors, dividends remain a core element of long-term strategies, providing consistent cash flow and potential for compounding returns.
“While 2024 saw record dividend distributions, certain increases, such as Emaar’s 100 percent payout of its share capital, may not be repeated annually. These sectors are cyclical, and dividends could fluctuate with market conditions,” Gilbert added.
Despite concerns about sustainability, UAE companies’ focus on shareholder returns highlights the market’s resilience. The country’s dividend growth outlook remains positive, supported by strong corporate earnings, favorable government policies, and continued investor interest.
Whether targeting high yields or steady income, the UAE remains an attractive market for global investors.
