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.

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

Villa, Maldini visit Jeddah to promote FIFA Club World Cup 2023

Jeddah, Saudi Arabia -- Football stars David Villa and Paolo Maldini visited Jeddah today to promote the 2023 FIFA Club...

Arts & Culture
Geostrategy

Iraq’s election: how it works, factions that are likely to dominate

A total of 329 seats are up for grabs in the election, which was moved forward from 2022 as a...
  • There are fears voter turnout could drop below the 44.5 percent figure registered in 2018.
  • More than 25 million citizens are eligible to vote. They are supposed to present a biometric card for what was conceived as a fully electronic voting process.
Geostrategy

Iran, Saudi hold new round of talks in Iraq

The discussions, hosted by Iraq as it seeks to act as a regional mediator, were launched under Iran's former, moderate...
  • US ally Saudi Arabia and Washington's arch-foe Iran are at odds over many regional issues, including the wars in Yemen and Syria.
  • The talks have led to "serious progress" regarding Gulf security, Tehran's foreign ministry spokesperson Saeed Khatibzadeh said on September 23.

ACWA Power final IPO price nearly $15 per share, targets raising $1bn

The company expects to raise more than $1 billion from the public offering, valuing the company at about $10 billion.
  • Retail offering started on Wednesday and will run until Oct. 1
  • ACWA is considering issuing green bonds in 2022 and beyond to raise funds for some renewable energy projects.
Geostrategy

Transformative projects focus of new UAE cabinet

The government work 'will be led by major transformative projects and not just long-term strategic plans, says Sheikh Mohammed.
  • The new strategy comes with the government's previous plan, UAE Vision 2021, through which the emirates has achieved all its goals in the past 10 years, Sheikh Mohammed said.
  • Unlike previous 5-10 year cycles, the coming cycles of change will be flexible and six months to two years long, he added.
Business

Arkan launches digital platform

Medical, lab supplies and equipment can be purchase online.
  • The platform provides a user interface for B2B procurement management.
  • Arkan said the launch in sync with Saudi Arabia Vision 2030.
Business

Facebook may launch digital wallet

The wallet, Novi, would let users store cryptocurrencies.
  • Facebook said in 2019 it planned to introduce a cryptocurrency called Libra, which changed its name to Diem in 2020 after facing regulatory resistance.
  • Company says it would have preferred to release Novi alongside Diem, but the latter's timing was uncertain.
Geostrategy

IsDB and OIC keen to boost cooperation

Both institutions will work toward supporting economic and social development in member countries.
  • IsDB is organizing a forum in Tashkent on Sept. 2 on post-Covid 19 situation.
  • Both institutions will work toward supporting economic and social development in member countries.
Business

Union Properties posts a total profit of AED 32 million in H1

The company witnessed a positive shift in many business activities in the UAE in general and in Dubai in particular,...
  • Contributing most to the positive results was revenues from customer contracts.
  • Financing costs witness a significant decrease of 32 percent in H1 compared to the same period in 2020.

Lebanon prez holds consultations to pick new PM

Former PM Saad Hariri and Hezbollah have endorsed billionaire businessman and two-time premier Najib Mikati for the post  

Saudi navy’s fourth warship under Sarwat project unveiled

Warships being built under the Sarwat project will be equipped for electronic wars and surpass the capabilities of many navies...

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

Company News

Latest News

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

This is aimed at supporting UAE export transactions to Egypt.
Business

Egypt president calls for measures to slow birthrate

Cairo, Egypt -- Egyptian President Abdel Fattah al-Sisi called Tuesday for measures to slow the birthrate in the Arab world's most...
Geostrategy

Saudi construction sector employs 3 million workers

GCC countries employ close to 20 million foreign workers, who are subject to vastly different conditions and wags compared to...
Infographics
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Mubadala, Petrobras sign MoU

The two parties will explore potential investment in a biofuel project.
  • The biofuel project currently being developed by Mubadala Capital in the State of Bahia, Brazil.
  • The MoU builds on biorefinery project to produce renewable diesel and sustainable aviation fuel derived from Macauba, a native Brazilian crop.
Economy

Arab economies projected to grow 3.4% in 2023: AMF official

The growth may increase to 4% in 2024. Arab Monetary Fund Director-General Dr. Abdul Rahman bin Abdullah Al Humaidi stressed...
  • He also underscored the importance of intensifying efforts to develop the financial and banking sector in Arab countries and increasing access to financing and financial services
  • The Arab banking system has become more prepared to absorb and withstand financial and economic shocks and risks due to its improved liquidity and solvency levels, he said.
Business

Qatar tourist arrivals surge on post-world cup momentum

Doha, Qatar -- More than 2.56 million people visited Qatar from January to August 25, which is more than the...
  • This number surpasses the full-year arrivals in 2022 and marks a 157 percent increase over the same period last year.
  • Immediately after the FIFA World Cup Qatar 2022, Qatar Tourism launched its 'Feel More in Qatar' global campaign.