INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

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
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.
Business

Ajman real estate deals up by 73 percent in Nov to $381 million

Ajman, UAE-- The Department of Lands and Real Estate Regulation in Ajman recorded 1121 real estate transactions worth AED1.4 billion...
  • Department of Lands and Real Estate Regulation recorded 123 mortgage transactions with a total value of AED 437 million.
  • The highest mortgage value was recorded at AED 93.5 million in the “Al-Nakhil 1” area.
Videos

UAE 2031 vision key to its global ambitions

The vision is based on four pillars that cover all sectors including the society, economy, diplomacy and ecosystem, the government...
  • We the UAE 2031’ vision is a national plan through which the UAE aims to pursue its development path for the next 10 years.
  • It seeks to "enhance the position of the UAE as a global partner and an attractive and influential economic hub", the government says.
Business

KEZAD Group signs lease

The 50-year lease was signed with Star Paper Mill.
  • Under the agreement, Star Paper Mill in collaboration with RC Paper Machines, will expand its existing capacities with an investment of AED200m.
  • Star Paper Mill’s new facility would have installed capacity of 135,000 tons to manufacture recycled semi kraft liner, white top liner and testliner.
Business

Sharjah records 68% increase in female entrepreneurs: Business Council director

Sharjah, UAE--- Sharjah has witnessed a 68 percent increase in female entrepreneurs recently and as the market grows and expands,...
  • More than 50 percent of the UAE’s museums were located in the emirate and that tourism made up over 12 percent of the GDP.
  • About 90 percent of the AED700 million real estate investments in the emirate last month were made by foreigners.
Business

Sharjah realty market gains, records deals worth $735 million in Nov

Sharjah, UAE-- A total of 2,813 real estate transactions valued at AED 2.7 billion ($735 million) were recorded in Sharjah...
  • A total of 2,813 real estate transactions valued at AED 2.7 billion ($735 million) were recorded in Sharjah during November, compared to AED 1.9 billion in October.
  • The report revealed that real estate market sales covered a total area of 13.3 million square feet, distributed over 99 locations.
Economy

Stocks markets, oil prices extend losses as experts warn of stagflation

After a healthy rally in recent weeks fuelled by signs that price rises were slowing, the US Federal Reserve, European...
  • While inflation in most countries has started coming down -- helped by a drop in energy costs -- it remains at multi-decade highs.
  • And observers have warned that economies could be heading for a period of stagflation where prices keep rising but growth stalls.
Business

Tadweer added to ADQ’s portfolio

Tadweer's full share ownership was transferred to ADQ.
  • Tadweer is the sole custodian of waste management for the emirate of Abu Dhabi.
  • ADQ’s energy and utilities portfolio also includes Abu Dhabi National Energy Company (TAQA), Emirates Nuclear Energy Corporation (ENEC).
Geostrategy

Top Jordan police officer killed in fuel price protests: Security Directorate

Colonel Abdul Razzaq Dalabeh, the deputy police chief of Maan province, was shot in the head on Thursday while police...
  • A separate statement said an officer and a non-commissioned officer "were shot while calming down 'saboteurs' who had staged riots", also in Al-Husseiniya.
  • The PSD said that it protects freedom of opinion and peaceful expression but would use "appropriate" force with anyone who stages riots and vandalises property.

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

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

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...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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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.
Business

Saudi capital market institutions employ 5,524 by second quarter end: CMA

Dubai, UAE -- The number of employees at capital market institutions rose by 103 quarter-on-quarter (QoQ) to 5,524 by the...
  • Males accounted for 80 percent of the employees at capital market institutions, with 4,400 employees, while the number of females stood at 1,124.
  • Meanwhile, the Saudization rate at these institutions reached 75 percent by the end of Q2, from 77 percent in Q1, according to the Capital Market Institutions Report.