INSEAD Day 4 - 728x90

AD Ports Group acquires CLI

CLI is Brazilian agri-bulk terminal operator.

$1.59bn Makkah project awarded

A consortium will develop two districts in the Holy City.

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Equinox and NEOM announce Equinox Resort Treyam in Magna

New York, US -- Luxury hospitality group Equinox Hotels has announced plans for the opening of Equinox Resort Treyam, one...

Business

Oil prices fall amid Israeli Palestinian cease-fire hopes, US crude stockpile building

Oil prices fell on Wednesday over growing hopes for a cease-fire agreement between Israel and Hamas and rising crude inventories...

Economy
Analysis

Snowden slams new Apple feature

The NSA whistleblower has said other companies following suit could lead to a torrent of privacy breaches across the board.
  • Apple unveiled the features earlier this month, saying they would help limit digital contraband on its devices
  • Experts have already warned against the feature, saying that it could be hacked or exploited
Economy

Mena region needs water resilience: World Bank

Without water resilience, the MENA region may see a loss of 6-14 percent of the collective GDP by 2050, says...
  • A drought can reduce the economic growth of a city anywhere in the world by up to 12 percent, says the World Bank
  • The MENA region, it says, has over 60 percent of the population living in areas with high water stress, compared with 35 percent globally
Analysis

The most vulnerable Linux distros

Now, security solutions provider Trend Micro has said that detected millions of “security events” in Linux distributions — both in...
  • The most common security event seen in Linux systems was coinminers
  • The Linux distro with the most vulnerabilities was CentOS Linux
Analysis

Lebanon to disburse dollars to families

The decision to disburse the $246-million World Bank loan in dollars will have a significant impact on the beneficiaries.
  • Lebanon had approved a $246-million loan from the World Bank in March this year
  • Its disbursal had been held up due to government’s initial decision to disburse the loan in Lebanese pounds
Science

Elon Musk announces humanoid Tesla Bot

Musk said the robot would be five feet and eight inches tall, and that a prototype would be ready next...
  • Musk compared the current fleet of Tesla cars to “semi-sentient” beings
  • He then said whatever the vehicles are capable of could well be put into humanoid form
Geostrategy

US’ Iran sanctions target Omani man, firms

The US Department of Treasury said the sanctions are on ‘individuals and businesses’ involved in a network that smuggled oil...
  • The US has sanctioned an Omani national Mahmood Rashid Amur Al Habsi, who it said helped smuggled oil out of Iran
  • On the list of sanctions are also two companies owned by Al Habsi, and a tanker used to ferry oil
Investigation

$600m crypto theft case about to be solved?

DeFi platform Poly Network said on Twitter on Wednesday that the threat actor or actors had already returned cryptocurrency worth...
  • Poly Network on Tuesday identified the vulnerability that had been exploited to break into its platform
  • A threat actor named an entity named PolyNetwork Exploiter is now transferring funds back to the company
Research

Saudi Central Bank to augment Islamic banking

The Saudi Central Bank or SAMA has launched two programs to augment Islamic banking through research and translation, local reports...
  • They are the Islamic Finance Research Support Program and the Islamic Finance Research Translation Program
  • Both programs are expected to offer cash prizes for the best research papers in various categories

Emirates ‘stewardess’ on top of Burj Khalifa

The new advertisement has gone viral on social media.
  • The 33-second ad shows what appears to be an Emirates stewardess atop the Burj Khalifa, the tallest building in the world
  • The woman is seen thanking the United Kingdom for removing the UAE red list and onto the amber one

Equinox and NEOM announce Equinox Resort Treyam in Magna

New York, US -- Luxury hospitality group Equinox Hotels has announced plans for the opening of Equinox Resort Treyam, one...
Business

Company News

Latest News

Yanbu NPC loss $129m

The company had reported net profit of $110 million in 2022.
Business

PIF acquires 40% of Zamil Offshore

Zamil is one of the largest offshore support vessel operators.
Business

Dubai records over US$2.6bn in weeklong real estate transactions

DUBAI, UAE - A total of 3,543 real estate transactions worth over US$2.6 billion (AED9.8 billion) were conducted during the...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

DEWA 2023 net profit $2.15bn

The system demand for power surged to 56.5 TWh in 2023.
  • The fourth quarter revenue was AED 7.1 billion and net profit AED 1.8 billion. The full-year audited results are expected to be released in the first week of March 2024.
  • DEWA’s annual consolidated revenue increased by 7 percent, mainly driven by an increase in demand for electricity, water and cooling services.
Arts & Culture

Stolen Van Gogh returned in IKEA bag displayed again

Rotterdam, Netherlands -- A precious Vincent van Gogh painting stolen and then handed to a Dutch art sleuth in an IKEA...
  • The 1884 "Parsonage Garden at Nuenen in Spring", worth up to six million euros ($6.8 million), was unveiled to media at a Rotterdam museum, with damage from the theft still visible
  • Wednesday's showing was just for media, but the public will be able to view the painting from March 29 in Groningen Museum, in the north of the Netherlands.
Business

TECOM Group net profit up 49%

The company recorded its highest-ever revenue of AED 2.2 billion.
  • The lease of industrial lands witnessed a strong demand in 2023, as the occupancy rate rose to 94 percent, compared to 81 percent in 2022.
  • The company has recommended a dividend payout of AED400 million to the company's shareholders for the second half of 2023.