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

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

Abha Valley has potential to be a tourist destination

ABHA, SAUDI ARABIA - Extending over 34 kilometers, the Abha Valley Basin enjoys a variety of wildlife aspects, civilizational features...

Business
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.
Business

Saudi launches Boutique Group to convert palaces into ultra-luxury hotels

Boutique Group, a new hospitality brand that will manage and convert a collection of iconic historic and cultural palaces in...
  • The first phase of the project will focus on the development of three historic palaces in cooperation with the private sector.
  • Al Hamra Palace will offer 77 keys including 33 luxury palace suites and 44 luxury villas in Jeddah.
Business

UAE, South Korea ECAs sign MoU to boost green energy investments

The official export credit agencies of the UAE and South Korea have signed an MoU to boost investments in sustainable...
  • Etihad Credit Insurance and K-SURE will work to facilitate support for various collaborative projects, especially hydrogen economy and renewable energy.
  • They will also join forces to support the exporters operating in diverse industries to enter the global market.
Business

Indonesian student’s selfies fetch $1m in NFT sales

Sultan Al Ghozali, a computer science student at a university, has taken a picture of himself sitting in front of...
  • He intended to use the collection of nearly 1,000 selfies to create a timelapse video for his graduation day.
  • After learning about blockchain technology, the 22-year-old decided to upload the photos to NFT trading platform OpenSea under the title "Ghozali Everyday"
Business

300 stakeholders take part in Dubai Shenzen Day and Products Show

Over 300 public and private sector stakeholders from China and the UAE took part in the first Shenzhen Day Launch...
  • Over 70 Shenzhen-based companies specializing in life and health, consumer electronics and intelligent security, that put more than 350 high-tech products on display.
  • A total of 120 bilateral business meetings were held during the event as part of the Dubai Chambers representative office in Shenzhen’s efforts to facilitate exchange.
Business

Decrees regulating Dubai Chambers and their Boards issued by Sheikh Mohammed

Dubai Chambers has been established as a new entity, replacing the Dubai Chamber of Commerce & Industry, and Juma Al...
  • One of the decrees establishes the Board of Directors for Dubai Chambers and appoints Abdul Aziz Al Ghurair as its Chairman.
  • As per the new legislation, Dubai Chambers' main responsibility is to develop plans and policies to enhance the emirate's global status as an economic hub.
Business

Dubai Free Zones Council mulls facilitating business bank accounts for SMEs

A meeting of the Dubai Free Zones Council (DFZ Council) on Sunday discussed how to facilitate opening business bank accounts...
  • These bank accounts will be facilitated in collaboration with the UAE Banks Federation.
  • Council members also highlighted their readiness to support the Emirati Human Resources Development Council in Dubai, which DFZ Council joins as a member.
Economy

Value and volume of Qatari real estate deals rise in November

The total number and value of sold real estate in Qatar have increased at a monthly rate of 2.8 percent...
  • The issued cash increased by 3 percent, compared to October 2021, and at an annual rate of 20.7 percent, compared to November 2020.
  • Total Broad Money Supply (M2) recorded about QR619.3 Billion during November 2021, an annual increase of 6.2 percent compared with November 2020.

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

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.