INSEAD Day 4 - 728x90

Samsung biggest chip investor

The tech giant invested nearly $59.2bn in 2025.

flynas to set up new hub

Five destinations in first phase of operations.

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.

Saudi Crown Prince launches urban plan of Qiddiya city

Riyadh, Saudi Arabia -- Crown Prince Mohammad bin Salman, Prime Minister and Chairman of the board of directors of the...

Business

Saudi Arabia expects budget deficits in 2023 and 2024 as spending rises

The announcement comes one year after the Gulf kingdom, the world's biggest crude exporter and the Middle East's largest economy,...

Economy
Business

By 2022 end, Saudi mining complexes in 13 provinces reach 377

Riyadh, Saudi Arabia---Saudi Arabia's Ministry of Industry and Mineral Resources said Sunday that the number of mining complexes in the...
  • The Makkah region had the highest number (76) complexes, followed by the Riyadh region with 60 complexes.
  • More than 20 different minerals, including gravel, gold, iron, copper, granite and marble, are found in these complexes.
Videos

WEF-supported TTI to fuel UAE growth spurt

The initiative is a crucial step in modernizing global trade, using the tools of the Fourth Industrial Revolution, said Dr...
  • The UAE signed an MoU with the World Economic Forum during the annual meeting at Davos to support its Trade Tech Initiative.
  • It is aimed at accelerating the digitization of international supply chains, enhance customs procedures and spur trade growth.
Business

Orient, Mashreq sign partnership

They will launch Orient Educare, a savings and insurance plan.
  • Orient Educare is designed to provide Mashreq customers with a low-risk savings plan that offers investment growth and insurance.
  • The new product is designed for individuals and families looking to prepare for education fees or retirement.
Business

Dubai’s records weeklong real estate transactions worth $2.44 billion

Dubai, UAE---A total of 2,157 real estate transactions worth over AED 9 billion ($2.44 billion) were conducted during the week...
  • The DLD report revealed that 237 plots were sold for AED 1.56 billion, with an additional 1,920 apartment and villa sales recorded totaling AED 5.77 billion.
  • The value of mortgaged properties for the week reached AED 1.68 billion, with the highest being a land in Al Barsha South Fourth, mortgaged for AED 324 million.
Business

Aluminum Bahrain 2022 net profit $1.10 bn

The Q4 2022 profit was down 78% compared to Q4 2021.
  • Alba achieved revenue of $1.22 billion in Q4 2022 versus $1.39 billion for the same period in 2021, a drop of 12 percent.
  • The revenue for 2022 stood at $4.89 billion, up by 16 percent compared to $4.21 billion for 2021.
Business

Drydocks World, Aker form JV

They will upgrade an FPSO vessel for the Rosebank field in the UK.
  • The JV signed its first contract with Altera Infrastructure, a global energy infrastructure services group, to upgrade, refurbish and electrify the FPSO, the Petrojarl Knarr.
  • The vessel will be redeployed at Rosebank field, with the upgrades allowing it to be kept in the field for 25 years without drydocking.
Business

ADNOC signs 23 agreements

Under the pact, the companies will manufacture products in UAE.
  • The products are part of the AED70 billion ($19 billion) worth of products in ADNOC’s procurement pipeline that the company identified for domestic manufacturing in July 2022.
  • Last year, ADNOC signed agreements for local manufacturing commitments worth over AED25 billion ($6.8 billion) with UAE and international companies.
Business

Abu Dhabi-based Aldar to debut in Dubai realty market

Abu Dhabi, UAE--Abu Dhabi-baed Aldar Properties will make a debut into Dubai's lucrative real estate market after it signed an...
  • The joint venture will develop new communities in three locations across an area of 38.2 million sqft (3.55 million sqm).
  • The new communities will be located in the suburban heart of Dubai along the E311 and E611 corridors in close proximity to several residential communities.
Business

MODON to build and operate 14 warehouses in Jeddah

Riyadh, Saudi Arabia--The Saudi Authority for Industrial Property and Technology Zones (MODON) signed yesterday a partnership agreement to establish, develop...
  • The warehouses will be built in the First Industrial City in Jeddah.
  • The warehouses are expected to provide fast and temporary logistical solutions to support industrialists and entrepreneurs.
Business

Diriyah signs JV agreement

It was signed with Integrated Telecom Company and TAWAL.
  • The 15-year design, build and operate contract covers open-access services for visitors, tenants, and residents of Diriyah.
  • In addition, more than 80 telecommunication towers are expected to be erected over the next three years.

Saudi Crown Prince launches urban plan of Qiddiya city

Riyadh, Saudi Arabia -- Crown Prince Mohammad bin Salman, Prime Minister and Chairman of the board of directors of the...
Business

Company News

Latest News

Iraq’s oil revenues hit nearly $9bn in Aug: Ministry of Oil

Baghdad, Iraq -- Iraq's oil revenues in August hit nearly $9 billion, according to the data issued by the Iraqi...
Business

Masdar, PLN NP sign expansion pact

They will develop Phase II of Indonesia's Cirata project by up to 500MW
Business

NEOM inks deal with Marriott International

Under the deal, two luxury hotels will be built in Trojena.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Al Akaria signs $610m infra contracts

The Public Investment Fund is a related party to the contracts.
  • The contracts pertain to development of the main infrastructure networks and bridges for the Qiddiya project.
  • The contracts also include the design, construction, testing and commissioning of a sewage treatment plant.
Business

Investcorp portfolio firm listed

The firm, PT Multitrend Indo, was listed on the Indonesian stock exchange.
  • This is Investcorp's first IPO on the Indonesian stock exchange and the 26th IPO in the Firm's 40-year history.
  • Investcorp currently has five offices spread across Asia with over US$1.2 billion invested in 40 portfolio companies.
Business

Alpha Dhabi acquires stake in Metito

With this deal, Alpha Dhabi marks entry into water and wastewater domain.
  • The acquisition sees Alpha Dhabi purchasing the majority stake from selling shareholders Mitsubishi Corporation, Mitsubishi Heavy Industries, and Gulf Capital.
  • The Ghandour family, Metito's founding shareholders, will retain their leadership roles.