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

NEOM launches ‘Topian’ to ensure climate-proof agriculture in Saudi

NEOM, Saudi Arabia: NEOM, a mega-city project in Saudi Arabia characterized by futuristic urban planning and advanced technologies, Sunday announced the...

Business

Real estate deals in Bahrain decline marginally in third quarter: CBRE

Manama, Bahrain - Real estate transactions in Bahrain recorded a marginal 2.5 percent decline in Q3 2023, totaling 5,145 compared to the...

Business

UAE tops globally in tertiary education

For the 12th year in a row, Switzerland leads the ranks on the Global Innovation Index. South Korea was the...
  • The 2022 GII says it tracks the most recent global innovation trends against the background of the pandemic, slowing productivity growth and other evolving challenges.
  • It looks at whether stagnation and low productivity growth are here to stay, or whether we are about to enter a new era, where new innovation spurts.
Business

Invictus 2022 net profit $123.62m

The profit increased by 62 percent compared to 2021.
  • The company's revenue grew by 103 percent from AED 2.94 billion in 2021 to AED 5.98 billion in 2022.
  • In a bourse disclosure, the company said the rise in revenue and net profit was driven by volume growth and entry into new markets and categories.
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.

NEOM launches ‘Topian’ to ensure climate-proof agriculture in Saudi

NEOM, Saudi Arabia: NEOM, a mega-city project in Saudi Arabia characterized by futuristic urban planning and advanced technologies, Sunday announced the...
Business

Company News

Latest News

AMEA reaches financial closure on PV plant

The $86m project will be AMEA's first operational asset in Tunisia.
Business

Non-oil sector to drive UAE economic growth to 3% in 2023: S&P

S&P analysts anticipate continued growth within the UAE's robust tourism sector. The country's ability to host major international events is...
Economy

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
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

NEOM inks deal with Marriott International

Under the deal, two luxury hotels will be built in Trojena.
  • The agreement includes Saudi Arabia’s first W Hotel, and a JW Marriott chain-branded hotel, NEOM said in a statement.
  • Trojena, a flagship development within NEOM, is being crafted and positioned as a year-round adventure sports haven.
Arts & Culture

Broadway musical ‘The Phantom of the Opera’ to Debut in Riyadh

Riyadh, Saudi Arabia -- The iconic Broadway musical 'The Phantom of the Opera' will be performed in Riyadh from Oct...
  • The musical will be performed 59 time at The Arena Riyadh. It consists of 100 cast, crew and orchestra members, and more than 230 intricately designed costumes.
  • The show is part of the Royal Commission for Riyadh City's Riyadh Life sector to provide entertainment options, in line with the objectives of Vision 2030 Quality of Life program.
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.