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

Makeen, Rolls-Royce forge partnership

They will manufacture, test, sell and service mtu engines in Saudi.

Business

QatarEnergy, Shell sign agreement

QatarEnergy will supply 18m barrels of crude oil per year to Shell.

Business
Business

Saudi industry ministry and German firms to develop human resources

Berlin, Germany -- A delegation of Saudi Ministry of Industry and Mineral Resources, which visited Germany, discussed enhancing cooperation to...
  • The delegation met with officials of the German automobile manufacturer Porsche at the company’s headquarters.
  • The delegation discussed cooperation opportunities as well as initiatives and programs for developing human capacities with the German companies Schüller, Festo and KSB.
Business

Saudi EXIM Bank, Evonik sign pact

The insurance policy will protect the risk of non-payment.
  • The agreement was signed by the CEO of Saudi EXIM Bank, Saad Al-Khlab, and the General Manager of Evonik Industries, Abdulmohsen Al-Muhaidib.
  • Al-Khlab said the collaboration is an extension of the bank's commitment to bolster the export endeavors of national institutions.
Arts & Culture

Most expensive American falcon sold for $146,000 at Saudi auction

Riyadh, Saudi Arabia -- An American pure ultra-white falcon cherrug sold for SAR550,00 ($146,000) at the third edition of the...
  • The most expensive falcon, known locally as a Hur, belongs to the American MGE farm. It measures 18 inches in length and 18.5 inches in width and weighs 1.4kg.
  • The bidding for the falcon started at SAR200,000 before being sold for SAR550,000 ($146,000).
Business

HR ministry and Bayt.com sign MoU to boost talent retention in UAE

Abu Dhabi, UAE -- The Ministry of Human Resources and Emiratization (MoHRE) of the UAE and job search and recruitment...
  • The MoU was signed by Khalil Al Khoori, Undersecretary of MoHRE for Human Resources Affairs, and Rabea Ataya, CEO of Bayt.com.
  • The UAE was ranked second globally across five indices within the World Competitiveness Yearbook 2022 such as the percentage of expatriate workforce.
Business

Vietnam’s VNG files for US IPO

VNG operates music streaming, mobile payment and online games.
  • Its Zalo is one of the most popular messaging platforms in the country, with 75 million monthly active users.
  • VNG plans to sell nearly 22 million shares in the IPO, according to a US Securities and Exchange Commission filing, with the proposed price range not yet set.
Business

Iran-China trade down 11 percent to $8.5 bn in seven months

Tehran, Iran -- The trade exchanges between Iran and China in the first seven months of the current year reached...
  • China’s top exports to Iran are mainly auto-industry related such as motor vehicles, parts and accessories, vehicle bodies (including cabs) and spark ignition engines.
  • China top imports from Iran are ethylene polymers, refined copper, raw aluminum, Iron ore and acyclic alcohols.
Geostrategy

Russia’s goal is to end war West unleashed in Ukraine: Putin

Johannesburg, South Africa -- Russia's special military operation pursues the goal of ending the war in Ukraine unleashed by a...
  • Russia has decided to support the people who are fighting for their culture, for their traditions, for their language and for their future.
  • He said it was the wish of a number of Western countries to preserve their hegemony in the world that "has led to the grave crisis in Ukraine."
Business

One fourth of all investors in state securities have left Russia: Minister

Moscow, Russia -- One fourth of all investors in state securities have been forced to leave the Russian market due...
  • Russia's Finance Minister Anton Siluanov the government will find ways to replace the investors to create funds required for development of the economy.
  • Moscow's incursion into Ukraine has made Russia the most sanctioned country in the world. Western nations have regularly increased the sanctions.
Business

GCC top export market for Dubai Chamber of Commerce members

Dubai, UAE -- The Gulf Cooperation Council countries were the top destinations for exports and re-exports of Dubai Chamber of...
  • Saudi Arabia was named the top destination for members' exports, with the total value recording year-over-year growth of more than 15 percent to reach AED35 billion.
  • Members' exports to Kuwait during H1 2023 were valued at AED12.8 billion, while exports to Qatar grew by 39.3 percent.
Business

Ajman H1 real estate transactions increase by 15 percent to $1.95bn

Ajman, UAE -- Ajman real estate market grew 15.6 percent year-on-year to AED 7.17 billion ($1.95 billion) in the first...
  • Omar bin Omair Al Muhairi, Director-General of the Department of Lands and Real Estate Regulation, said a total of 5,310 real estate transactions were recorded during this period.
  • May, in particular, emerged as a notable month, witnessing a peak value of real estate transactions totaling AED1.9 billion.

Makeen, Rolls-Royce forge partnership

They will manufacture, test, sell and service mtu engines in Saudi.
Business

Company News

PIF-owned SRC completes $933m sukuk

First Mills IPO price SAR60 per share

Yanbu Cement to pay $62.93m in dividends

Advanced secures $586m loan

Bupa Arabia Q1 net profit $50.28m

Latest News

SEVEN to build $347m entertainment destination in Saudi Arabia’s Aseer

Riyadh, Saudi Arabia -- Saudi Entertainment Ventures (SEVEN), a PIF subsidiary, has announced the fifth entertainment destination in the Kingdom,...
Business

ADDED launches program to improve SMEs’ access to financial services

Abu Dhabi, UAE -- The Abu Dhabi Department of Economic Development (ADDED) has launched a program to improve the access...
Business

56% Saudi consumers willing to pay premium for green transportation

Riyadh, Saudi Arabia -- An overwhelming 80 percent of consumers across 16 diverse nations now identify climate change as the...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

ADB plans to invest US$100bn to maximize climate impact

MANILA, PHILIPPINES - Setting the scene for a low-carbon and climate-resilient Asia and the Pacific, the Asian Development Bank (ADB)...
  • By 2030, more than 55 percent of the population of Asia and the Pacific will live in urban areas, driving up demand for urban-related services.
  • If urban areas continue along the same growth trajectory, Asian cities could contribute over half of the rise in global GHG emissions in the next 20 years.
Business

Dubai records weeklong real estate deals worth $2.45 billion

Dubai, UAE -- A total of1,852 real estate transactions valued at more than AED 9 billion ($2.45 billion) were conducted...
  • The DLD weekly report said that 384 plots were sold for AED 2.54 billion, 1,468 apartments and villas were sold for AED 3.38 billion.
  • A total of 139 properties were granted between first-degree relatives worth AED507 million.
Arts & Culture

Jeddah Program named cultural destination of FIFA Club World Cup

Riyadh, Saudi Arabia -- The Historic Jeddah Program has secured sponsorship rights as the official cultural destination and main supporter...
  • This prestigious tournament will be hosted in Jeddah from December 12 to 22, 2023, marking the first time it will be held in the Kingdom.
  • The program's sponsorship of this tournament is part of its efforts to showcase the historic Jeddah region, a UNESCO World Heritage Site.