INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Market capitalization of 20 UAE listed firms reaches $762 billion

Abu Dhabi, UAE -- The market capitalization of the top 20 listed companies in the local stock markets by market...

Business

OpenAI reveals new GPT-4o model that is faster and free for all users

OpenAI on Monday launched a new AI model and desktop version of ChatGPT, along with an updated user interface, the...

Business
Business

QAMCO’s H1 net declines 60.7%

Average selling prices stood at US$2,743 per metric ton.
  • Earnings Per Share for QAMCO stands at US$0.0118 as of 30th June 2023, compared to US$0.0302 in 2022.
  • Decline in profits is attributed to a 24% drop in average selling prices and a slight decrease in sales volumes
Economy

Iraq’s apex bank introduces new exchange categories for dollar sales to travelers

BAGHDAD -- The Central Bank of Iraq has introduced three distinct categories of exchange companies dedicated to selling dollars to...
  • Exchange companies will operate under strict Central Bank regulations and Anti-Money Laundering Law
  • Enhanced electronic platform by the Central Bank of Baghdad will oversee all dollar sales to citizens

Sheikha Bodour to chair revamped board at American University of Sharjah

SHARJAH -- Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has outlines the restructuring...
  • The Board of Trustees of the American University of Sharjah has been restructured
  • New board members to begin their term in October. Membership term set for three years
Economy

Iraq streamlines imports, focuses on strengthening domestic industries

In a move to fortify the local market, Iraq's Ministerial Council of Economy has taken decisive steps, including the removal...
  • Iraq's Ministerial Council of Economy removes four items from import lists
  • 4% customs tariff reduction announced for imported live animals for slaughter

US, Iraq strengthen security ties; vow to defeat ISIS; set up military commission

WASHINGTON – The United States and Iraq pledged to boost security cooperation, regional stability, and the shared interest in Iraq's...
  • Iraq, US focus on the 2008 U.S.-Iraq Strategic Framework Agreement and non-combat role of U.S. forces
  • The two countries emphasize recognition of the support from CJTF-OIR to the Iraqi Security Forces
Business

Saudi Arabia’s PIF creates 181,000 jobs in 2022, boosts economy

Saudi Arabia's employment figures received a significant boost in 2022, thanks to the efforts of the Public Investment Fund (PIF),...
  • The sovereign fund has ambitious goals and aims to increase its assets under management to SAR4 trillion by 2025.
  • The fund's assets under management also saw substantial growth, increasing by 12.8 percent to $595 billion in 2022.
Infographics

Middle East makes mark in Global Soft Power Index

TRENDS Infographics explores prominent Arab nations in the latest Global Soft Power Index, with the UAE leading the way by...
  • TRENDS Infographics explores prominent Arab nations in the latest Global Soft Power Index, with the UAE leading the way by entering the top 10, a first for the Middle East
  • Other GCC countries, including Oman, also show improvements in the index, which measures nations' influence and reputation across various sectors and a variety of metrics
Business

GCC power and water projects benefit from lower risks, government support: Report

LONDON —Strategically important power and water projects controlled by GCC governments or government-related entities (GRE), are benefitting from the support...
  • GCC governments play multiple roles, including offtakers, gas suppliers, grid operators, and land lessors
  • Robust contractual provisions include 20- to 30-year fuel supply and offtake agreements with fixed prices.
Economy

‘UAE’s compliance level high in anti-money laundering’

She adds that the Ministry’s participation in this workshop forms part of its commitment to fostering regional and international cooperation...
  • The UAE has achieved the highest compliance levels in anti-money laundering, developing an advanced ecosystem in line with global best practices
  • The Gulf country seeks to foster regional and international cooperation with partners, contributing to establishing a sustainable AML ecosystem
Arts & Culture

Teachers play key role in shaping future generations

“The real development of the education sector requires attracting the expertise of Emirati educators. Without empowering them to perform effectively,...
  • Sheikh Abdullah bin Zayed, the UAE’s Minister of Foreign Affairs and Chairman of the EHRC, underscores the pivotal role of teachers in shaping the future
  • The UAE minister emphasizes that teachers are not just imparting academic knowledge but are also instrumental in the formation of balanced personalities

Market capitalization of 20 UAE listed firms reaches $762 billion

Abu Dhabi, UAE -- The market capitalization of the top 20 listed companies in the local stock markets by market...
Business

Company News

Latest News

GCC economies eye $2.5trn from better productivity

The region pins hope on the new Productivity Potential Index that offers a forward-looking framework, incorporating environmental, health, and innovation...
Economy

Displacement, health crisis in Sudan is alarming, says WHO

GENEVA, SWITZERLAND – Acting WHO Representative in Sudan Peter Graaff has said that the humanitarian and health crisis in the...
Geostrategy

BGN to get $100m in financing

Abu Dhabi Exports Office, Mashreq and ADCB to provide financing.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

WEF24: Gulf cities spearhead global investment surge

GCC cities such as Abu Dhabi, Dubai and Riyadh showcase dynamic growth, rivalling global metropolises, says Julien Hawari, CEO &...
  • GCC cities such as Abu Dhabi, Dubai and Riyadh showcase dynamic growth, rivalling global metropolises, says Julien Hawari, CEO & Founder of Special Edition and Million.
  • He attributes the Gulf's economic boom to transformative business and government practices, and inclusive policies that promote diversity and attract international talent.
Business

Tourism takes Saudi Arabia to a new global height

Strategic initiatives and a focus on domestic tourism help Saudi Arabia's tourism sector experience unprecedented growth, positioning it as a...
  • Strategic initiatives and a focus on domestic tourism help Saudi Arabia's tourism sector experience unprecedented growth, positioning it as a future global travel leader.
  • Leading the G20 in tourism sector growth, the Kingdom showcases its global tourism impact, with high-quality hospitality projects and local workforce investment.
Arts & Culture

RAK cultivates communities with arts and culture

“Culture and arts are an integral part of building communities and a key pillar of Ras Al Khaimah’s sustainable development,”...
  • Sheikh Saud bin Saqr Al Qasimi champions culture and arts as foundational for community and sustainable development in Ras Al Khaimah.
  • The 12th RAK Art Festival at Al Jazeera Al Hamra Heritage Village showcases 106 artists, emphasizing the Emirate's dedication to global culture.