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.

North-South Corridor, Palestine key agenda of Raisi-Putin talks in Moscow

Dubai, UAE – Iranian President Ebrahim Raisi, ahead of his visit to Moscow, has emphasized the importance of the North-South...

Geostrategy

People-positive approach needed in clean power transition: WEF paper

Dubai, UAE -- Building massive infrastructure for clean power projects in pursuit of climate goals will need nearly $4.5 trillion in...

Business
Business

Dubai energy demand grew by 5.5 percent in 2022: DEWA CEO

Dubai, UAE– Dubai witnessed a 5.5 percent increase in energy demand in 2002, from 50,402 GWh to 53,180 GWh, said...
  • DEWA provides electricity and water services to 3.514 million people living in Dubai and the Emirate’s active daytime population of over 4.7 million.
  • These numbers are expected to grow to 5.8 million and 7.8 million, respectively by 2040.
Geostrategy

Channel opened for UAE residents who stayed outside for 6 months

Abu Dhabi, UAE-- The Federal Authority for Identity, Citizenship, Customs and Ports Security (ICP) announced that it has added to...
  • This service does not apply to residents who hold golden residence permits.
  • The eligible people need to submit a copy of their Emirates ID and a copy of the passport.
Business

Dubai records over $571 million in real estate transactions

Dubai, UAE -- Dubai real estate market recorded deals worth AED2.1 billion on Tuesday, Dubai Land Department said. The deals...
  • The deals included 471 sales transactions worth AED1.87 billion, in addition 70 mortgage deals of AED122.36 million.
  • The sales included 451 villas and apartments worth AED1.56 billion, and 20 land plots worth AED316.57 million.

ADCB 2022 net profit $1.75 bn

The bank’s net profit for Q4 2022 was up 23%.
  • The bank's net interest income was to the tune of AED 10.194 billion, an increase of 15 percent compared to 2021.
  • The Board has recommended a dividend of AED 0.55 per share, equivalent to 60 percent of net profit.
Business

World’s largest wealth fund lost record $164 billion in 2022

"2022 was a truly dramatic year in the world. It affected financial markets and hence it also affects our global...
  • The fund has shares in more than 9,000 companies in nearly 70 countries, including Apple, Microsoft and Alphabet, the parent company of Google.
  • At the end of 2022, the value of the fund, which is financed by taxes paid by the nation's oil and gas industry, still amounted to a whopping 12.43 trillion kroner.
Business

Strong demand seen for first 2023 auction of UAE treasury bonds

Abu Dhabi, UAE-- The first auction of the UAE treasury bond program in 2023 has been oversubscribed by 6.2 times,...
  • In 2022, the Ministry of Finance, the issuer, had issued bonds totaling AED 9 billion across tenors of two years, three years and five years.
  • The auction has been oversubscribed by 6.2 times, receiving bids worth $1.76 billion.
Business

Adani firm gains 5.26% after UAE’s IHC announces $400m investment

IHC announced it would be investing $400m into Adani Enterprise's $2.5 billion Further Public Offering. IHC said in a statement...
  • This is the second investment deal International Holding Company has completed with India's Adani Group after last year's Dh7.3 billion ($2 billion) investment.
  • Media reports said the FPO so far received 3 percent subscription amid the rout Adani Group has been facing since a report by US investment group Hindenburg Research.
Business

Aramco signs 100 pacts at iktva forum, launches digital company

Riyadh, Saudi Arabia--Aramco has signed more than 100 agreements and Memorandums of Understanding valued at around $7.2 billion to help...
  • The agreements were signed with Zoom, Taulia Inc, DHL, Ministry of Investment of Saudi Arabia, Accenture, Hassana Investment Company and Achilles among others.
  • The iktva program has achieved 63 percent local content in 2022, up from 35 percent in 2015, when iktva was launched.
Infographics

Jordan lowest bribery risk Arab nation

North Korea, Turkmenistan, Equatorial Guinea, Syria and Venezuela present the highest commercial bribery risk, said the TRACE Bribery Risk Matrix 2022.
  • The TRACE Bribery Risk Matrix measures a country's score on the basis of four domains, which are derived from nine sub domains.
  • The matrix measures the risk in 194 jurisdictions, territories, and autonomous and semi-autonomous regions.
Business

YahClick, Canar sign 6-year pact

The $15 million pact will expand YahClick's presence in Africa.
  • The deal will make Sudan's Canar Telecom one of YahClick’s largest service providers across the region.
  • Under the agreement, Canar has procured significant satellite capacity from YahClick.

North-South Corridor, Palestine key agenda of Raisi-Putin talks in Moscow

Dubai, UAE – Iranian President Ebrahim Raisi, ahead of his visit to Moscow, has emphasized the importance of the North-South...
Geostrategy

Company News

Latest News

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...
Arts & Culture

Al Akaria signs $610m infra contracts

The Public Investment Fund is a related party to the contracts.
Business

Investcorp portfolio firm listed

The firm, PT Multitrend Indo, was listed on the Indonesian stock exchange.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Infographics

UAE most competitive MENA economy

The 2023 IMD World Competitiveness Ranking placed the UAE among the world's 10 most competitive economies.
  • Gulf Cooperation Council economies are the most competitive in the Middle East region, according to the latest IMD World Competitiveness Ranking.
  • In the 2023 IMD World Competitiveness Ranking, the top three economies are Denmark, Ireland and Switzerland, while the US ranks seventh.
Business

Future100 secures 25 new partnerships to support emerging firms

Dubai, UAE -- Future100, a collaborative initiative between the Ministry of Economy and the Government Development and the Future Office,...
  • The partnerships are aimed at supporting the top 100 emerging companies that play a vital role in bolstering the competitiveness of the UAE’s future economy sectors.
  • The inaugural list of Future100 will be unveiled on World Futures Day, which coincides with December 2nd, the UAE's National Day.
Geostrategy

UAE foreign minister participates in high-level meetings of UNGA 78

New York, United States -- Sheikh Abdullah bin Zayed Al Nahyan, UAE's Minister of Foreign Affairs, hosted a reception at...
  • A reception hosted by the minister focused on the theme of delivering on global climate progress at COP28, which will be held in the UAE in November.
  • Sheikh Abdullah also met foreign ministers of Djibouti, Costa Rica, Israel, Estonia, Malta, Finland, Bulgaria, and Kyrgyzstan.