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.

WhatsApp update allows posting status updates via Instagram

Washington, United States -- The instant messaging platform WhatsApp launched a new update that includes an optional feature that allows...

Business

Tech-empowered shoppers drive Saudi consumer behavior: PwC

Riyadh, Saudi Arabia -- Saudi Arabian consumers are navigating the market with heightened awareness, becoming better-informed buyers, according to the...

Business
Business

Pact to transform Makkah, Madinah into business hubs for Islamic world

The Makkah Chamber of Commerce, Madinah Chamber of Commerce and the Islamic Chamber of Commerce will sign the agreement at...
  • The partnership would boost the business sectors in the holy cities through exhibitions and forums, lectures, workshops and dialogues with decision-makers from the Islamic world.
  • Chairman of the Board of Directors of the Madinah Chamber, Munir Muhammad Nasser bin Saad, said the agreement will contribute towards promoting cultural heritage of the holy cities
Business

Export Bahrain, BCCI to facilitate global market access for local businesses

Manama, Bahrain--- Export Bahrain and the Bahrain Chamber of Commerce and Industry have signed an MoU to support Bahrain-based businesses in...
  • The two entities will facilitate the business community in Bahrain to attract strategic investment partnerships and enhance the competitive work environment in the Kingdom.
  • The access to markets will be enabled through seminars, webinars, workshops and trade exhibitions.
Geostrategy

Jerusalem named Permanent Arab Media Capital at info ministers meet

Tripoli, Libya- -The Council of Arab Information Ministers chose the city of Jerusalem as the permanent capital of Arab media,...
  • While Jerusalem will be the permanent capital, other Arab capitals will be selected on rotation basis every year.
  • Palestinian journalist Shireen Abu Akleh, who was assassinated by the Israeli occupation forces, was awarded the "Al Saraya Al Hamra" award for Arab Journalism, at the meet.
Business

Ajman Chamber keen to strengthen trade, economic ties with Pakistan

Ajman, UAE--Abdullah Al Muwaiji, Chairman of the Board of Directors of Ajman Chamber of Commerce and Industry (ACCI), has affirmed...
  • The total trade between the UAE and Pakistan reached AED19.7 billion in 2021, with a growth rate of 23 percent compared to 2020.
  • The growth rate of trade volume between Ajman and Pakistan reached 30 percent during the last five years.
Business

SALIC completes acquisition of Olam

SALIC had signed the acquisition pact in March.
  • SALIC is wholly owned by the Saudi sovereign wealth fund, the Public Investment Fund.
  • Olam is present in more than 30 countries around the world and has the capacity to handle more than 40 million tons of food commodities annually.
Business

Nearly 78% UAE women-owned businesses led by females under age 40

Sharjah, UAE--- A Women under the age of 40 lead 77.6 percent of the women-owned businesses in the UAE, a...
  • The survey found that of the 1,000 female business owners who took part in the survey, 48.8 percent are CEOs and 61.4 percent sole proprietors.
  • A total of 25,000 Emirati women entrepreneurs owned 50,000 trade licenses valued at AED 60 billion ($16.33 billion) in 2021.
Business

BHP to face trial in UK

The firm must stand trial to face US$12 billion damages claim
  • More than 400,000 claimants could eventually join the compensation claim against the Australian company in London's High Court.
  • The 2015 tragedy unfolded after the dam in Brazil's Minas Gerais region ruptured.
Economy

Share of oil in Saudi exports rises to nearly 80 percent in Oct

Riyadh, Saudi Arabia-- Saudi Arabia's merchandise exports increased by 13.9 percent in October 2022 to SAR 120.7 billion ($32.10 billion),...
  • Merchandise exports increased by 13.9 percent in October 2022 to SAR 120.7 billion ($32.10 billion).
  • Non-oil exports (including re-exports) increased by 4.4 percent, compared to October 2022, increasing to SAR 24.9 billion from SAR 23.9 billion in October 2021.
Business

New CBUAE money laundering, terror financing guidelines for insurance sector

Abu Dhabi, UAE---The Central Bank of the UAE (CBUAE) has issued a new guidance on anti-money laundering and combatting the...
  • Insurance operators are required to perform, document, and keep up to date an enterprise risk assessment.
  • They should maintain transaction monitoring systems equipped to identify patterns of activity that appear unusual and potentially suspicious.
Geostrategy

Qatar sees off World Cup criticism to claim diplomatic victory

The emirate went into the tournament under scrutiny for its treatment of foreign workers and LGBTQ people but one of...
  • As a major supplier of natural gas and an intermediary in conflict zones such as Afghanistan, Qatar already possessed diplomatic clout but struggled to gain public recognition.
  • The public airing of the Palestinian cause in stadiums and Morocco's surge to the tournament's semi-finals also boosted feelings of Arab pride.

WhatsApp update allows posting status updates via Instagram

Washington, United States -- The instant messaging platform WhatsApp launched a new update that includes an optional feature that allows...
Business

Company News

Latest News

UAE’s internet quality world’s best, but e-security concerns remain

The UAE's achievement in internet quality marks a significant improvement from its previous third-place ranking in this category. However, in...
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...
Business

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...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

ACWA Power signs clean energy agreements with Chinese firms

Riyadh, Saudi Arabia/Guangdong, China -- Saudi-listed ACWA Power has signed MoUs with two Chinese firms to bolster collaboration in China...
  • The agreements were signed with state-owned China Southern Power Grid International Company and clean energy integrated solution provider MingYang Smart Energy Group Limited.
  • ACWA Power has a history of collaborations with Chinese companies such as installing the largest wind turbine in Central Asia with China Energy Engineering Corporation (CEEC).
Business

UAE banks’ investments reach $157 billion by July end

Abu Dhabi, UAE -- Investments of banks operating in the UAE reached AED 580 billion ($157.90 billion) at the end...
  • The data showed that investments of banks operating in the country increased by 18.8 percent on an annual basis, from AED 487.7 billion in July 2022.
  • On a monthly basis, investments of banks increased by 0.91 percent, from AED 574.3 billion in June 2023.
Business

Saudi capital market assets under management rise by $14bn in Q2

Riyadh, Saudi Arabia -- The total assets under management (AUM) held by capital market institutions licensed by Saudi Arabia’s Capital...
  • The total AUM held by licensed capital market institutions in Q2 2023 are the largest in years, according to Argaam.
  • Dom Capital led the way with a 100 percent increase in AUM in Q2 2023. Sidra Capital followed with a 195 percent rise.