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.

14 financial giants confirm expansion into Abu Dhabi: ADGM

Abu Dhabi, UAE -- Abu Dhabi Global Market (ADGM), a leading international financial center of the UAE’s capital, Thursday announced...

Business

Egypt jumps to third place in Offshore BPO Confidence Index

Cairo, Egypt -- Egypt's global prominence received a boost as it jumped from 11th to third place in the 2023...

Business
Economy

UAE and Israeli firms hold 200 business meetings at Dubai event

The ‘Dubai-Israel: Future Horizons Mission’ was hosted by the Dubai International Chamber, which is one of the three chambers operating...
  • The event was the focus of a high-level trade mission which was joined by 50 businessmen representing 25 Israeli companies listed in Tel Aviv Stock Exchange.
  • Dubai’s non-oil trade with Israel reached nearly AED 2 billion in the first half of 2021.
Business

Mubadala invests in SX Global

Media reports said Mubadala will be investing at least $50 million.
  • The investment will support SX Global’s expansion plans for a global supercross series in a new competitive format.
  • Mubadala has previous experience in the sports industry. It invested in talent agency Endeavor, which subsequently bought the UFC and the Professional Bull Riders tour.
Business

Pakistan’s Fatima Group inks $1billion deals at Expo with Chinese, Saudi firms

Fatima Group, a Pakistani industrial conglomerate, has signed two MoUs of over $1 billion with two key global agriculture stakeholders...
  • Fatima Group is known as Pakistan’s fastest-growing industrial conglomerate with investments in fertilizers, textiles, sugar and cement.
  • The collaboration is expected to boost agriculture in Pakistani, which has 20 percent of the country’s GDP tied to it.
Business

Conference in Dubai to bring together Emirati investors and Israeli companies

A conference that brings together Emirati investors and Israeli public companies listed on the Tel Aviv Stock Exchange (TASE) will...
  • The conference is collaboration between the UAE Embassy in Israel, Tel Aviv Stock Exchange and the Dubai International Chamber.
  • Some of the TASE-listed companies that will participate include Altshuler Shaham, Amos Luzon Dev & Energy, Beeio Honey, Bezeq, Delek Drilling, Energix, Enlight Enregy, Epitomee.
Business

Air travel momentum up as countries lift Covid restrictions: IATA

Air travel recovery was gaining momentum as countries were lifting restrictions, with a sharp 11-percentage-point increase for international tickets sold...
  • There was an 11-percentage-point increase for international tickets sold in recent weeks.
  • The 11-percentage point improvement between the January and February periods is the fastest such increase for any two-week period since the crisis began.
Business

Pandemic turns business models upside down, says Fjord Trends report

Nearly two years of disruption to the fabric of society due to global pandemic has resulted in a collective shift...
  • The rising individualism underlined by a “me over we” mentality has profound implications for organizations in how they lead their employees.
  • The metaverse will be a new frontier of the internet, combining all the existing layers of information, interfaces, and spaces with which people interact.
Economy

Dubai imposes tariff on single-use plastic bags to limit their use

Dubai has approved a policy to limit single-use plastic bags by imposing a tariff of 25 fils on such bags...
  • The policy will be evaluated over several stages until the single-use bags are completely banned within two years.
  • The emirate will charge a tariff of 25 fils per bag from 1 July 2022.

UAE inflation rate of 2.5 percent displays economic stability: FCSC

UAE's Consumer Price Index (CPI) at the end of 2021 reached 108.62, compared to 105.97 in December 2020, which puts...
  • Rate of inflation in food and beverages stood at 3.71 percent, tobacco at 0.65 percent, clothing and shoes at 0.51 percent.
  • Abu Dhabi recorded an inflation rate of 0.08 percent in December 2021 compared to November, while the inflation rate in Dubai was 0.09 percent.
Geostrategy

Lebanon busts 17 suspected Israeli ‘spy networks’ during crackdown

Lebanon said Monday it had busted at least 17 suspected Israeli spy networks, in one of the largest nationwide crackdowns...
  • Information minister Abbas Halabi said the rings operated both "locally and regionally, without elaborating.
  • Between April 2009 and 2014, Lebanese authorities detained more than 100 people accused of spying for  Israel.
Business

Micrsoft startups opens second round of GrowthX Accelerator Program

Microsoft for Startups Middle East Wednesday announced it has opened a second round of applications for Microsoft for Startups’ highly...
  • GrowthX Accelerator and Highway to 100 Unicorns are part of a strategic partnership between Microsoft and the Abu Dhabi Investment Office.
  • The GrowthX Accelerator brings together corporates with challenges and startups that can build field-ready solutions.

14 financial giants confirm expansion into Abu Dhabi: ADGM

Abu Dhabi, UAE -- Abu Dhabi Global Market (ADGM), a leading international financial center of the UAE’s capital, Thursday announced...
Business

Company News

Latest News

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...
Business

Global rice prices hit 15-year high after India curbs: FAO

Rice is a major world food staple and prices on international markets have soared in the wake of the Covid...
Economy

Tabreed signs MoU with Indian state

Asia's largest district cooling PPP project in Hyderabad part of deal.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

TAQA’s $1.5bn dual-tranche bonds listed on Abu Dhabi Exchange

Abu Dhabi, UAE -- Abu Dhabi National Energy Company (TAQA's) dual-tranche $1.5 billion bonds were listed on Abu Dhabi Securities...
  • The five-year $500 million notes, maturing in 2029, were issued as conventional bonds with a 4.3 percent coupon.
  • The 10-year $1 billion tranche, maturing in 2033, was priced with a 4.6 percent coupon – with coupon payments being made to bondholders on a semi-annual basis.
Economy

Saudi non-oil activities push Q2 economic growth to 1.2%

Riyadh, Saudi Arabia -- Saudi Arabia’s real GDP grew by 1.2 percent in the second quarter of 2023, compared to...
  • A GASTAT report showed a 6.1% increase in non-oil activities over 2022, a 2.3% increase in government activities over 2022, and a 4.3% decrease in oil activities.
  • According to the report, seasonally adjusted real GDP decreased by 0.2 percent in Q2 of 2023 compared to the Q1 of 2023.
Geostrategy

G20 shirking ‘critical’ climate issues: UN climate chief

The G20, which accounts for about 85 percent of the world's economy and greenhouse gas emissions, will meet in New...
  • Simon Stiell, the head of the UN Framework Convention on Climate Change, said technological solutions are within reach to curb the warming that is already showing effects.
  • The G20 summit is the next major set of negotiations in a packed calendar of meetings crucial for action on global warming, culminating at the UN COP28 talks in the UAE.