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.

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

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

Business

FAB becomes first MENA bank to publish TCFD climate report

Abu Dhabi, UAE -- First Abu Dhabi Bank (FAB) became the first MENA bank to publish a Task Force for...

Business
Geostrategy

FDI into Oman increases by 19 percent in Q1 2021: Report

Foreign Direct Investment into Oman increased by 19 percent in the first quarter of 2022, according to a report by...
  • There has been an increase in non-oil exports in 2021 that also saw the sultanate organize several conferences, including the “Oman Renewable Energy” investment conference.
  • Oman was able to achieve its economic growth goals through the "Medium-Term Financial Balance Plan 2022/2024", which provided revenues of $780 million in 2021.
Business

UAE inflation low but businesses burdened by rising costs: Report

IMF estimates inflation in the UAE is expected to be at 3.7 per cent in 2022, falling to 2.8 percent...
  • About 37 percent of UAE businesses are changing their pricing strategy in line with cost increases and 31 percent are focusing on product or service differentiation.
  • Businesses in the UAE report cost increases of 18 per cent for energy and utilities, 17 per cent for raw materials and 14 per cent for wages and staff compensation.
Business

Dubai records realty deals worth $241 million on Wednesday

Dubai recorded realty transactions worth AED888 million ($241 million) on Wednesday. The real estate market in the emirate recorded 310...
  • The real estate market in the emirate recorded 310 sales transactions worth AED668.1 million, in addition to 86 mortgage deals of AED163.78 million.
  • A day earlier, Dubai real estate market recorded AED1.2 billion in realty transactions.
Business

Etihad orders 7 A350F freighters

The freighters will upgrade Etihad's freight capacity.
  • With this order, Etihad adds to its existing order of the largest passenger version of A350-1000s, five of which have been delivered.
  • Etihad has also firmed up a long-term agreement for Airbus' Flight Hour Services (FHS) to support its entire A350 fleet.
Economy

UAE central bank issues new guidance for politically exposed persons

The Central Bank of the UAE (CBUAE) has issued new guidance on Anti-Money Laundering and Combating the Financing of Terrorism...
  • The guidance will help Licensed Financial Institutions understand risks and effective implementation of anti-money laundering and terror financing guidelines.
  • The guidance requires LFI’s to demonstrate compliance with its requirements within one month.
Geostrategy

China launches second of three space station modules

China launched on Sunday the second of three modules needed to complete its new space station, state media reported, the...
  • Beijing launched the central module of its space station Tiangong -- which means "heavenly palace" -- in April 2021.
  • Almost 18 meters (60 feet) long and weighing 22 tons (48,500 pounds), the new module has three sleeping areas and space for scientific experiments.
Business

Dubai records real estate transactions worth $296m on Thursday

Dubai real estate market recorded 379 sales transactions worth AED1.09 billion ($296 million), in addition to 96 mortgage deals of...
  • The sales included 359 villas and apartments worth AED755.34 million, and 20 land plots worth AED331.11 million.
  • mortgages included 78 villas and apartments worth AED170.89 million and 18 land plots valued at AED148.89 million.
Business

EDB, Valiant Healthcare sign pact

EDB credit facility will extend to both capital investment and expenditures.
  • The signing ceremony was attended by Ahmed Mohamed Al Naqbi, CEO of EDB, Faisal Juma Belhoul, Chairman of Valiant, and Ahmed bin Juma Belhoul, CEO of Valiant Healthcare.
  • We will introduce our patients to additional highly valued premium inpatient rooms, in addition to a state of the art Cath-lab &  EP lab, said Belhoul.
Business

Dubai ruler issues decree establishing toll operator Salik as company

Dubai road toll operator Salik has been established as a Public Joint Stock Company according to a law issued by...
  • According to a law issued by Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum the Dubai Government owns all the shares of Salik Company.
  • The Executive Council of Dubai is authorized to determine the percentage of shares that can be offered for subscription either through an IPO or private placement.
Business

FAB completes Bank Audi Egypt merger

FAB's Egypt assets will operate under the new brand "FABMISR".
  • The system integration under the new identity is expected to be completed in the fourth quarter of this year.
  • Through the legal merger, FABMISR will become one of the largest foreign banks operating in the Egyptian market.

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

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

Company News

Latest News

$17.32bn projects launched on first day of Cityscape Riyadh

Riyadh, Saudi Arabia -- The Cityscape Global Exhibition, which kicked off Sunday in Riyadh, witnessed the launch of real estate...
Business

Care secures $93.3m Murabaha facility

The long-term facility was obtained from Gulf International Bank.
Business

ADES prices IPO $3.33-$3.60 per share

The book-building process starts Sunday and run through Sept. 14.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

UAE President, Indian Prime Minister discuss strengthening bilateral, trade ties

NEW DELHI, INDIA - UAE President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi met to...
  • The meeting was held on the sidelines of the 18th Group of 20 (G20) Heads of State and Government Summit in New Delhi.
  • The two sides also exchanged views on various regional and international developments of mutual interest.
Business

Qatar realty market trading volume $277 million in August

Doha, Qatar -- Qatar real estate market recorded deals worth QR1.011 billion ($277 million) in the month of August 2023,...
  • The real estate market index for the month of August revealed that the financial value of Doha municipality's transactions amounted to QR 290 million.
  • Of the 10 most expensive properties sold in the month, Doha accounted for seven and Al Rayyan, Al Wakrah and Umm Salal one each.
Business

Russia’s Sberbank launches new tourism-oriented services in Iran

Tehran, Iran -- Russia’s largest lender, SBERBANK, is presenting a new service that allows its clients to transfer money to...
  • According to Sber, ruble transfers will be sent to the Iranian Pasargad Bank with the standard commission for international transactions of 1 percent.   
  • Last December, Russia’s second-largest bank VTB launched a similar service in Iran and later in May it opened a branch in the country.