INSEAD Day 4 - 728x90

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.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

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

Masdar, Taaleri acquire 8 energy projects

The hybrid renewable energy projects in Poland have 1Gw capacity.

Business
Business

RAK first in world to achieve 19 ISO 50001 certifications

Ras Al Khaimah, UAE -- The government of Ras Al Khaimah became the first in the world to achieve the...
  • The accomplishment was announced at the World Future Energy Summit 2023, held as part of Abu Dhabi Sustainability Week (ADSW).
  • A comprehensive retrofit of government buildings was carried out between 2018 and 2022, through energy performance contracting.
Infographics

Lebanon population set to decline in 2023

A survey published by the UN Economic and Social Commission for Western Asia says poverty levels can reach 36 percent...
  • The combined population of the 22 Arab countries in 2021 was around 407-420 million.
  • Most of this population is concentrated in and around major urban areas.
Business

Bayanat net profit up 110%

The company posted a 115 percent increase in revenue.
  • Bayanat's total assets increased to AED1.508 billion during the year ended 2022 compared to AED474 million in the previous year.
  • Last week Bayanat became the first ADX-listed technology share to be certified as Shari'a compliant.
Business

Future of Real Estate Forum in Riyadh begins, pacts worth $2.66 bn signed

The Minister of Municipal and Rural Affairs and Housing Majid bin Abdullah Al-Hogail, who inaugurated the second edition of the...
  • The agreements were signed in real estate development and building technologies, and the establishment of four investment funds.
  • Participants from more than 30 countries and 100 speakers representing the public and private sectors will attend the forum.
Business

Azizi sells 35% Creek Views II units

The 587-residence project is scheduled for handover by Q4.
  • Nearly 18 percent of the units have been acquired by UAE investors, 11.61 percent by Indian nationals, and 6.25 percent by both Jordanian and Russian investors.
  • Other nationalities who have invested in units at Creek Views II include German, English, Bangladeshi and Dutch passport holders, among others.
Business

Dubai realty sector posts record sales in 2022

Real estate sector experts say facilities like Golden Visa were fueling expatriate interests in owning a property in the emirate.
  • market experienced a record-breaking performance in 2022 in terms of sales, volume and value, according to media reports.
  • For luxury properties, the market registered an increase in growth by 97 percent in terms of value and 85 percent in terms of volume, reports said.
Geostrategy

Dubai Customs makes 25.7m transactions, above 2100 seizures in 2022

Dubai, UAE-- Dubai Customs has completed 25.7 million customs transactions and made 2,147 seizures in 2022, while also winning several...
  • Dubai Customs dealt with 388 intellectual property disputes in 2022, which included 14.5 million counterfeit items with a street value of AED 109.5 million.
  • It was active in recycling counterfeit goods with more than 93 recycling operations taking place throughout the year that targeted 173,000 counterfeit items.
Geostrategy

Muslim world condemns burning of copy of Quran in Swedish capital

Secretary-General of the GCC Dr. Naif Falah Mubarak Al-Hajraf has warned that the act would inflame and provoke Muslims around...
  • Secretary-General of the Organization of Islamic Cooperation Hissein Brahim Taha said the act is another example of Islamophobia and Xenophobia.
  • Arab Parliament called on the international community to assume its responsibilities and criminalize these unacceptable acts, which fuel feelings of hatred and violence.
Business

IDB’s insurance arm, Masdar sign renewable energy pact

Jeddah, Saudi Arabia---The Islamic Corporation for the Insurance of Investment and Export Credit, the Islamic Development Insurance arm of the...
  • The two parties agreed to develop renewable projects through insurance support to the Islamic Corporation for the insurance of investment and export credit in the member states.
  • It includes support for the transition to clean energy through electricity generation from renewable sources that do not emit emissions and the transition to green economy.
Business

AD Gaming partners with AA Meta

They will develop Abu Dhabi’s Web3 Blockchain Gaming ecosystem.
  • AA Meta provides metaverse infrastructure and Web3 technology solutions that enable next-generation gaming.
  • Alongside using this technology for its own projects, AA Meta provides its offering to other gaming businesses as well.

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

Company News

Latest News

Qatar Central Bank issues treasury bills worth $137 million for a week

Doha, Qatar -- Qatar Central Bank (QCB) issued treasury bills worth QR 500 million ($137 million) for a one-week term,...
Business

Dubai ranks fifth globally on key shipping development Index

Dubai, UAE -- Dubai has maintained its ranking among the top five global maritime centres on the 2023 International Shipping...
Business

ADIB completes $750m sukuk redemption

The sukuk, issued on Sept 20, 2018, carried profit rate of 7.125%.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Aramco, Cenomi see 4 negotiated deals

The $32.81 million deals were registered by Tadawul.
  • A negotiated deal involves a stock purchase based on a bargain between buyers and sellers, apart from the market price.
  • The negotiated deal does not directly impact the last deal price, highest/lowest stock price and opening/closing price.
Arts & Culture

Saudi Arabia’s natural reserve makes it to UNESCO heritage list

Riyadh, Saudi Arabia -- The Uruq Bani Ma'arid Reserve in Saudi Arabia has been inscribed on the UNESCO World Heritage...
  • Uruq Bani Ma'arid Reserve occupies an area of over 12,750 km2 and is the only major sand desert in tropical Asia.
  • It provides vital natural habitats for the survival of more than 120 indigenous plant species.
Geostrategy

GCC ministers call upon Iraq to respect Kuwait sovereignty

New York, United States -- At a meeting on the sidelines of the 78th session of the UN General Assembly,...
  • The foreign ministers asked Baghdad to adhere to UN resolutions, particularly Resolution 833, which pertains to the demarcation of the Kuwait-Iraq borders.
  • Expressing hope for continued cooperation from Iraq, the ministers urged both Iraq and the UN to make every effort to resolve the related issues.