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.

Saudi consumer spending up 4 percent in October: SAMA

Riyadh, Saudi Arabia -- Consumer spending in Saudi Arabia increased 4 percent to SAR 110 billion ($29.32 billion) in October,...

Business

Abu Dhabi’s financial sector surges 30% in Q2, non-oil growth 12%

Abu Dhabi, UAE -- The financial sector in the UAE has experienced a surge of 30 percent in the second...

Business
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.
Business

GCC’s first tire storage and distribution hub coming up in Abu Dhabi

AD Ports Group has signed an agreement with China-based Shandong Port Group, to establish a Tyre Hub at KIZAD for...
  • China's Shandong Port Group and AD Ports Group sign an agreement to set up a hub at KIZAD for the storage and distribution of tires.
  • AD Ports Group will provide space for an upcoming 150,000 sqm facility in KIZAD under its Industrial Cities and Free Zone Cluster.
Economy

Iraq saw rise of positive economic indicators in 2021: Planning Ministry

Iraq's Ministry of Planning has said several positive economic indicators have risen during 2021 and several measures are being taken...
  • People regaining their jobs after easing of Covid restrictions helped boost projects in the private sector.
  • Although the Planning Ministry is yet to prepare a report on economic indicators for 2021, there is an improvement in many fields, says a spokesman.
Arts & Culture

UAE issues first civil marriage license for non-Muslim couple

The UAE issued its first civil marriage license for a non-Muslim couple, state media reported Monday, as the Gulf country...
  • A Canadian couple was the first to marry under a new law on the personal status of non-Muslims in the Emirati capital Abu Dhabi.
  • Late last year, the UAE revamped an array of laws in a social liberalization drive designed to burnish its progressive brand.

Saudi consumer spending up 4 percent in October: SAMA

Riyadh, Saudi Arabia -- Consumer spending in Saudi Arabia increased 4 percent to SAR 110 billion ($29.32 billion) in October,...
Business

Company News

Latest News

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...
Business

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...
Economy

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...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

OIA invests in US battery firm ONE

ONE is focused on high-density LFP-based batteries.
  • OIA and ONE signed a Strategic Collaboration Agreement (SCA) to explore potential areas of collaboration in energy storage and battery manufacturing in Oman.
  • ONE is focused on high-density LFP (Lithium Iron Phosphate)-based batteries, which are created from lower-cost, more abundant iron.
Business

ADCB prices $650m green bond

The bond will be used to finance eligible green assets.
  • It was 2.9 times oversubscribed, attracting interest from a range of local, regional and international investors that placed total orders of over $1.9 billion.
  • As of 30th June 2023, ADCB’s eligible green loan portfolio had experienced notable year-on-year growth of 61 percent, reaching $1.65 billion, he said.
Business

ADEX and National Bank of Egypt sign $100m financing agreement

This is aimed at supporting UAE export transactions to Egypt.
  • Under the terms of the agreement, a revolving loan facility of US$100 million has been established, with the primary aim of supporting transactions involving UAE exports to Egypt.
  • The Abu Dhabi Exports Office extends loans and guarantees to Emirati exporters to enhance their contributions to the economy and foster their global expansion.