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.

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
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.
Business

DP World sells assets stake to Saudi Hassana Investment Company

Saudi Hassana will invest $2.4 bn in some of DP World's assets.
  • Hassana is the investment manager for the General Organisation for Social Insurance (GOSI), which owns one of the world’s largest pension funds.
  • The investment by Hassana implies a total enterprise value of approximately $23 billion for the three assets.
Business

Dubai records over $490 million in real estate transactions Tuesday

Dubai, UAE---Dubai real estate market recorded deals worth AED1.3 billion ($490 million) on Tuesday, said Dubai Land Department. The deals...
  • The deals included 495 sales transactions worth AED1.32 billion, in addition to 81 mortgage deals of AED454.83 million, and 24 gift deals amounting to AED34.33 million.
  • The sales included 479 villas and apartments worth AED1.28 billion, and 16 land plots worth AED45.98 million.
Business

SABIC introduces new plastic

The high-density polyethylene complements its Trucircle range.
  • The company said the new product is part of the company's commitment to contribute in promoting the circular economy of plastics.
  • The new material was specially developed for motor oil and lubricant oil bottles manufactured through blow molding technology.
Business

ADNOC acquires 24.9% stake in OMV

After the transaction, OMV will hold 31.5 percent.
  • Through this investment in OMV, which holds a 75 percent stake in Borealis, ADNOC will increase its shareholdings in both Borealis and Borouge.
  • ADNOC will acquire the stake from Mubadala. Financial details of the transaction are not being disclosed.
Economy

Qatar’s Industrial Production Index rises 2.5 percent in October

Doha, Qatar – Qatar’s Industrial Production Index (IPI) rose by 2.5 percent in October 2022, compared to the corresponding month...
  • The manufacturing groups which registered a rise include chemicals and chemical products by 1.8 percent, beverages (1.4percent).
  • In the electricity, gas, supply sector, a decrease of 3 percent was noticed in the production of electricity between October 2022 and September 2022.
Economy

Saudi Arabia, UAE lowest-risk investment havens in the ‘riskiest’ Middle East and Africa region

The region was ranked the riskiest by the Global Risk Report Quarterly Update. But the GCC region stood out, offering...
  • In Africa, Morocco, Botswana and South Africa were the low-risk investment destinations, in that order, as far as the macroeconomic risks are concerned.
  • Syria, Yemen, and Libya were on the list of the highest-risk countries in the third quarter.
Business

Aramco, SABIC sign pacts

They will explore refining and petrochemical projects in China.
  • Aramco and Sinopec have signed heads of agreement for a greenfield project in Gulei in Fujian province.
  • Additionally, Aramco, SABIC and Sinopec signed an MoU to study the economic and technical feasibility of developing a new petrochemical complex.
Geostrategy

UAE takes part in 17th Asia Pacific Regional Meeting of ILO

SINGAPORE -   The UAE has participated in the 17th Asia Pacific Regional Meeting of the International Labor Organization (ILO) in...
  • Over 500 representatives of governments, labor organizations and companies from 33 countries took part in the meeting.
  • The meeting discussed labor priorities and ways to promote employment in the Asia Pacific.
Business

European Investment Bank lends Tunisia $229 million for food, power needs

Dubai, UAE--The European Investment Bank has granted Tunisia a 216 million ($229 million) loan to support its food security and...
  • The Tunisian government signed an agreement with the bank, under which 150 million euros will be granted to support its food security.
  • Another 66 million euros will be granted to support the company's program for developing infrastructure related to strengthening and expanding the power sector.

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

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

Mubadala launches ‘Capital Solutions’

The new platform offers bespoke solutions to investors.
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...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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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.
Business

UAE banks to perform strongly in 2023: Standard & Poor’s report

Abu Dhabi, UAE -- Standard & Poor's Global Ratings expects that the banks of the United Arab Emirates (UAE) will...
  • The credit rating agency said that UAE banks will benefit from strong non-oil GDP growth, which will mitigate the impact of rising interest rates on credit growth.
  • The report expects bank credit growth at UAE banks to rise to about 7 percent in 2023, from 5 percent in 2022, WAM reported.
Business

Cruise Saudi partners with leading firms to outfit premium AROYA

Jeddah, Saudi Arabia -- Cruise Saudi, a wholly owned subsidiary of the Public Investment Fund that specializes in developing the...
  • MJM Marine, a leading specialist in cruise ship refurbishment, will upgrade existing cabins and suites of the AROYA Cruise.
  • DE Wave Group, a global contractor for cruise ship and yacht interior outfitting, will outfit the upper deck areas of the AROYA Cruise.