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.

Masdar, PLN push to build world’s largest floating solar plant

Dubai, UAE -- Abu Dhabi Future Energy Company (Masdar) has signed agreements to collaborate with Indonesia’s state-owned utility company, PLN,...

Business

TAMM partners with AI71 to use UAE’s Falcon series LLMs

TAMM becomes first to use UAE’s Falcon large language models.

Business
Business

Dubai records US$2.6bn in weekly real estate transactions

DUBAI, UAE  - A total of 2,790 real estate transactions worth US$2.6 billion (AED9.6 billion) were conducted during the week...
  • A total of 2,790 real estate transactions worth $2.6 billion were conducted during the week ending December 30, 2022.
  • The DLD report showed that 179 plots were sold for $378 million.
Business

Dubai Chamber launches Cloud Computing Business Group

Dubai, UAE-- Dubai Chamber of Commerce has announced the launch of the Cloud Computing Business Group, which will focus on...
  • The Chamber said the business group will address policy matters related to the industry, amongst others.
  • The UAE has consistently outperformed 15 other countries in the Middle East and North Africa region as the most cloud competitive economy.
Science

Understanding winter storms and global warming

The link between global warming and heat waves is very direct, but the behavior of winter storms is governed by...
  • There is no consensus on other mechanisms, such as the effect of climate change on the polar vortex and jet stream air currents.
  • The polar vortex is an air mass above the North Pole, located high in the stratosphere. Humans dwell in the troposphere, and the stratosphere is located just above it.
Business

Fujairah Chamber board approves 2023 operational plan and budget

Fujairah, UAE-- The Board of Directors of the Fujairah Chamber of Commerce and Industry stressed the importance of encouraging private...
  • 2023 operational plan comprises several programmes and activities, including the development of the chamber's electronic system.
  • The Board stressed the importance of encouraging private sector companies and institutions in the emirate to improve their products.
Business

CBUAE issues commemorative coins on anniversaries of Abu Dhabi ports

Abu Dhabi, UAE-- The Central Bank of the UAE (CBUAE), in cooperation with Abu Dhabi Ports, issued 1,000 commemorative silver...
  • The coins highlights the successes achieved by the ports of Abu Dhabi and their role in the emirate’s maritime sector in the past decades.
  • Each coin weighs 60 grams. The front side includes a drawing of the Abu Dhabi Ports Group logo with the name "Central Bank of the UAE" written in both Arabic and English languages.
Business

AD Ports, KMTF sign pacts

They will launch a joint venture to provide services for energy companies.
  • AD Ports, which will own 51 percent, and KMTF, which owns 49 percent, also signed an agreement to pool tanker resources.
  • The two companies also signed a seven-year vessel pooling agreement, which includes the provision of several tankers for the transportation of crude oil internationally.
Business

Dubai records over $408 million in realty transactions Monday

Dubai, UAE----Dubai real estate market recorded deals worth AED1.5 billion ($408 million) on Monday, Dubai Land Department said. The deals...
  • The deals included 515 sales transactions worth AED1.44 billion and 19 gift deals amounting to AED137.87 million.
  • The sales included 483 villas and apartments worth AED1.14 billion, and 32 land plots worth AED299.29 million.
Business

Groundbreaking of integrated 450,000-sqm Metal Park held in KEZAD

Abu Dhabi, UAE-- The ground breaking of a 450,000 sqm integrated Metal Park in Abu Dhabi was attended by senior...
  • The Metal Park Investment ME's Park will be equipped with state-of-the-art facilities to support storage and handling.
  • Membership will enable Metal Park Investment ME LTD’s clients to adapt to market demand without infrastructure constraints.
Business

ACWA Power seals $2.4 bn deal

The firm signed PPA with the National Electric Grid of Uzbekistan.
  • ACWA Power purchased three wind power special purpose vehicles (SPVs) to establish a 1.50-gigawatt (GW) wind farm in Kungrad.
  • Upon implementation, the new wind farm is expected to offset 2.40 million tons of carbon emissions annually and power 1.65 million households.
Business

Kuwait exports first shipment of quality diesel to shortage-hit Europe

Kuwait City, Kuwait-- Kuwait National Petroleum Company has exported the first shipment of the advanced diesel fuel to the European...
  • Kuwait National Petroleum Company shipped 66,000 tons, and the shipment was produced with special specifications that fulfil the European markets' requirements.
  • The energy sector in Europe faces unprecedented crisis and upsurge in the prices of electricity and gas, especially after launch of Russian-Ukrainian war.

Masdar, PLN push to build world’s largest floating solar plant

Dubai, UAE -- Abu Dhabi Future Energy Company (Masdar) has signed agreements to collaborate with Indonesia’s state-owned utility company, PLN,...
Business

Company News

Latest News

Qatar’s Hamad International Airport named world’s second-best

London, United Kingdom -- Qatar's Hamad International Airport has been named as the best airport in the Middle East, and...
Business

Turkey-China nuclear power plant deal possible soon: Minister

Dubai, UAE -- The talks between Turkey and China to build a nuclear power plant in eastern Thrace are progressing and...
Business

Lumi IPO 11.5 times oversubscribed

The daylong retail offering saw 124,900 investors subscribe.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Russian Post working on opening company in UAE, says CEO

Vladivostok, Russia -- Russian Post is working on opening a company in the UAE, CEO Mikhail Volkov told TASS in...
  • In 2018, the Russian Post opened its first overseas branch in Berlin. In 2019, it completed registration of its subsidiary RP Logistics (Shenzhen) Co. Ltd. in China.
  • The Russian Post is endeavoring not to interrupt the exchange in postal items and just six countries ended postal communications with Russia to date, TASS reported.
Geostrategy

Israel deprives 400 Palestinian kids of life-saving treatment: Report

The report published on Wednesday by the UK-based organization Save the Children said that nearly 400 children in Gaza, at...
  • Nearly 100 children’s applications to Israeli authorities were denied or left unanswered in the month of May alone, said the report ‘I Can’t Run, Play, or Get Treatment’.
  • “Neither chemotherapy nor radiology treatments are available due to Israeli Government restrictions on medical equipment and medication entering Gaza,” it said.
Business

Mubadala launches ‘Capital Solutions’

The new platform offers bespoke solutions to investors.
  • The Mubadala Capital Solutions platform is comprised of three fully integrated strategies to provide investors with access to a range of fund managers and direct opportunities.
  • The first strategy within the Mubadala Capital Solutions platform is a diversified, evergreen investment product focusing on private market opportunities.