INSEAD Day 4 - 728x90

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.

Empower okays $119.1m H2 2025 dividend

The dividend is equivalent to 43.75% of paid-up capital.

UAE central bank cash deposits up by 10.2% in Oct to $187 billion

Abu Dhabi, UAE -- The Central Bank of the UAE (CBUAE) said Thursday cash deposits surged to AED 687.2 billion...

Business

Saudi fund assets dip slightly in Q3 but subscribers surge

Riyadh, Saudi Arabia -- The total value of assets held by public and private investment funds in Saudi Arabia decreased...

Business
Business

Saudi SEZs attract $12bn in investments since launch in April

An additional $31 billion in investments are in progress, the Special Economic Zones Investment Forum in Riyadh was told Tuesday....
  • Saudi Arabia's Minister of Investment Khalid Al-Falih said kingdom closed deals worth SAR 285 billion ($76 billion) in 2022 across sectors ranging from agriculture to aerospace.
  • The Special Economic Zones Investment Forum in Riyadh was told Tuesday that an additional $31 billion in investments in the SEZs are in progress.
Business

Advanced secures $586m loan

The five-year financing was secured by promissory notes.
  • The Sharia-compliant financing from Alawwal Bank will be used to pay back the existing credit facilities and for financing general corporate purposes.
  • Advanced Petrochemical saw its first quarter net profit drop by nearly 74 percent year on year, from 164 million riyals in Q1 2022 to 43 million riyals in Q1 2023.
Business

Sharjah’s Waste-to-Energy Project promotes renewable energy

SHARJAH, UAE - The Sharjah Waste-to-Energy Project, the first of its kind in the Middle East, has strengthened its efforts...
  • Since its launch one year ago, the plant has increased its waste diversion rate from 76 percent to 90 percent.
  • The move aligns with the UAE's goal of achieving climate neutrality by 2050 and diversifying the energy mix.
Business

Saudi Arabia’s Alinma Bank posts highest first quarter asset growth

Dubai, UAE -- Saudi Arabian Alinma Bank posted the first quarter asset growth of 19.1 percent, leading other Saudi-listed banks,...
  • Al Rajhi Bank came second with an asset growth of 18.1 percent growth. The sector’s average growth rate stood at 11.2 percent.
  • In terms of deposit growth, Alinma Bank again led the way with 24.9 percent, while Bank Albilad came second with 22.5 percent.
Business

Ajman Chamber and Turkiye look to expand business networks

Ajman, UAE - The Ajman Chamber of Commerce and Industry (ACCI) has discussed expanding the trade and joint investment with...
  • The two parties focused on exchanging experiences, expanding business networks and developing partnerships.
  • The non-oil trade exchange between the UAE and Türkiye reached $18.95 billion by the end of the year 2022.
Business

Dubai launches strategy to achieve zero emissions in public transport

This aligns with UAE's preparations for COP28 and the UAE Net Zero by 2050 Strategic Initiative, and is a part...
  • This makes it the first Middle Eastern agency to develop a long-term strategy for migrating towards Net-Zero Emission Public Transport by 2050.
  • The primary objectives of the strategy include the decarbonization of all taxis, limousines, and public buses and designing buildings.
Arts & Culture

Abu Dhabi event transforms global falconry

The exhibition has become a popular platform for falconers to purchase elite captive-bred falcons from local and international farms.
  • Last year's exhibition saw the sale of the most expensive falcon in its history, the American-bred "Pure Gyre - Ultra White" for $275,000.
  • The breeding of falcons in captivity represented a real revolution in falconry and sustainability and the revival of this heritage.
Geostrategy

Energy minister leads UAE delegation to development road conference in Iraq

ABU DHABI, UAE - Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei headed the UAE delegation to the...
  • The one-day conference brought together transport ministers and officials from the Gulf Cooperation Council, Iran, Turkey, Syria and Jordan.
  • The huge infrastructure project will link southern Iraq to the border with Turkey from where it will connect to rail and road networks in Europe.
Business

Bupa Arabia Q1 net profit $50.28m

Compared to the last quarter of 2022, net profit fell by 1.4 percent
  • Net investment income rose by 24.2 percent year on year and net other revenue doubled YoY.
  • Other operating expenses rose 20.4 percent YoY and gross written premiums increased 28.1 percent YoY.
Business

Dubai records weeklong real estate transactions worth $3.02 billion

Dubai, UAE -- A total of 3,321 real estate transactions worth AED11.1 billion ($3.02 billion) were conducted in Dubai during...
  • The DLD report showed that 220 plots were sold for AED 2.54 billion, 2,398 apartments and villas were sold for AED 5.85 billion.
  • Wadi Al Safa 3 recorded the most transactions for this week by 61 sales transactions worth AED 728.44 million.

UAE central bank cash deposits up by 10.2% in Oct to $187 billion

Abu Dhabi, UAE -- The Central Bank of the UAE (CBUAE) said Thursday cash deposits surged to AED 687.2 billion...
Business

Company News

FAB completes Bank Audi Egypt merger

ADNOC to build two LNG vessels

Kuwait’s CGC signs deal

ADNEC’s hall 40 percent complete

Tabreed to pay highest ever dividend

Latest News

Sulaiman Al Habib 9M profit $405m

The Group reported a nearly 16% year-on-year rise in revenues.
Business

UAE, Saudi stock exchanges surpass Arab peers with $167bn in gains

Abu Dhabi, UAE -- The financial markets of the United Arab Emirates and Saudi Arabia topped the Arab stock exchanges...
Business

Saudi Arabia selected as member of UN’s AI Advisory Body

New York, United States-- United Nations Secretary-General António Guterres Friday announced the selection of Saudi Arabia to the UN Advisory...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

PIF to reveal complementary auto projects soon, says top official

Riyadh, Saudi Arabia -- The Public Investment Fund will soon announce complementary projects for the automobile industry, mainly batteries, said...
  • PIF is currently focusing on attracting industries related to the automobile system, such as tires, glass, and plastics to Saudi Arabia.
  • The PIF has established three factories, Ceer, Lucid and Hyundai, finalizing the first phase of its mega project related to attracting the car manufacturing industry.
Business

ASPACE to set up Saudi’s first satellite manufacturing unit

Riyadh, Saudi Arabia -- Saudi Arabia announced Thursday the completion of SAR 1 billion investment procedures by ASPACE, a Hong...
  • The Hong Kong based company completed procedures for the investment of SAR 1 billion ($266 million) for the manufacturing facility.
  • The manufacturing company expects growth throughout the project phases, for the manufacturing of components, subsystems, and satellites.
Business

How Saudi PIF is trying to build a post-oil economy

Riyadh, Saudi Arabia -- As global banking elites attend the Future Investment Initiative forum in Riyadh, a focal point of Saudi...
  • The PIF now boasts assets under management exceeding $700 billion and says it has created more than 560,000 "direct and indirect" jobs.
  • The PIF's high-profile investments in foreign firms include stakes in Uber, electric car maker Lucid and video game company Activision Blizzard.