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.

Abu Dhabi positioned in world’s fastest-growing economic corridor: Official

Abu Dhabi, UAE -- Dr. Karim El Solh, Co-Founder and Chief Executive Officer at Gulf Capital, said Thursday Abu Dhabi...

Business

Saudi PIF secures $5 billion financing in collaboration with K-SURE

Riyadh, Saudi Arabia -- The Public Investment Fund (PIF) and Korea Trade Insurance Corporation (K-SURE) have announced the signing of...

Business
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.
Geostrategy

Thai PM to visit Saudi for first time since gem theft soured ties

Prime Minister Prayut Chan-O-cha will this week make the first visit by a Thai leader to Saudi Arabia in more...
  • Thai-born janitor Kriangkrai Techamong stole $20 million worth of precious gems in 1989 from the home of a Saudi prince, triggering a feud between the countries.
  • Saudi Arabia has long accused Thai police of bungling their investigation into the theft, with allegations that the stolen gems were snapped up by senior officers.

Abu Dhabi positioned in world’s fastest-growing economic corridor: Official

Abu Dhabi, UAE -- Dr. Karim El Solh, Co-Founder and Chief Executive Officer at Gulf Capital, said Thursday Abu Dhabi...
Business

Company News

Latest News

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

ENOC Group, Kawasaki renew partnership

The pact was signed through ENOC partner CKW Enterprises.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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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.
Business

Production of pick-up trucks and vans in Iran rises by 52-70%

Tehran, Iran -- Production of pick-up trucks and vans in Iran in the first five months of the current Iranian...
  • In total, 11,436 pick-up trucks were manufactured in the country in the first five months of the current Iranian calendar year.
  • The number of vans produced in the country from March 21 to August 22, 2023 was 1,371, showing a 70 percent hike compared to the same period of last year.