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.

AviLease, SDH Wings Sign MoU

The MoU will expand SDH Wings' portfolio of aircraft.

Business

Finland’s Vaisala to equip Kuwait airport with observation system

Kuwait City, Kuwait -- The Directorate General of Civil Aviation (DGCA) of Kuwait has inked a KD 6.7 million ($21.7...

Business
Business

Aramco, PIF and Baosteel to build Saudi Arabia’s first steel plate plant

It will be the largest integrated steel plate manufacturing complex in the kingdom to be located in Ras Al Khair...
  • The production capacity is expected to be up to 1.5m tons per annum. The complex will have premium facilities such as natural-gas-powered direct reduction iron furnace.
  • Aimed primarily at meeting the needs of the Saudi market, there are plans to export to the Gulf Cooperation Council and MENA region.
Business

Saudi ports handle more than 2 million containers in first quarter

Riyadh, Saudi Arabia -- The number of containers handled by Saudi ports in the first quarter of 2023 grew by...
  • Transshipment containers witnessed an increase of 14.96 percent and 778,056 containers compared to 676,826 containers in the first quarter of 2022.
  • A total of 258,051 cars were imported, an increase of 35.52 percent over the first quarter of the previous year, which recorded 190,422 cars.
Business

Trina Solar revenue up 83%

Trina's market share of 210mm module shipments was more than 50%.
  • Trina Solar’s main businesses, including PV products, PV systems and smart energy, all registered strong growth, the company said in a statement.
  • The company also unveiled that its module shipments in 2022 totaled 43.09GW and cumulative module shipments exceeded 140GW by the end of March 2023.
Business

Arab Bank Q1 profit $216m

The first-quarter profit increased by 30% compared to Q1 2022.
  • The Group's total equity was $10.4 billion as loans grew to $35.4 billion and deposits reached $47.7 billion.
  • Excluding the impact of devaluation of several currencies against the US dollar, loans and deposits grew by 3 percent and 4 percent, respectively.
Business

DEWA keen to enhance happiness in work environment, says CEO

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) affirmed its commitment to achieve the 'We the UAE 2031' vision...
  • "We harness all capabilities, technologies and digital solutions to strengthen the skills of our employees," DEWA CEO said.
  • "We consider employees the main pillar for strengthening DEWA’s position as one of the most prominent utilities in the world," he said.
Economy

Qatar’s economically active population up by 3% in Q4 2022

The Labor Force Sample Survey for the October-December 2022 period shows the percentage of male and female wage workers reached...
  • The number of economically active males was 95.4 percent and females 63.4 percent. The people in the 25-34 year age group were the most economically active part of the workforce.
  • The percentage of unemployed people increased by 1.3 percent to reached 0.1 percent-- 51 percent of the jobseekers being males and the rest females.
Arts & Culture

Almost 8,000 participants to take part in Sharjah’s 10th Charity Marathon

SHARJAH, UAE- The 10th Annual Charity Marathon, expected to attract over 8,000 runners from all segments of society, is all...
  • It is organized by the Friends of Arthritis Patients (FAP) of the Health Promotion Department (HPD) at the Supreme Council for Family Affairs in Sharjah.
  • The marathon will take place along Al Mamzar Corniche and feature a variety of innovative health, sports, and recreational events and activities.
Geostrategy

Saudi authorities foil attempt to smuggle 4 million captagon tablets

Riyadh, Saudi Arabia -- Saudi customs authority foiled an attempt to smuggle more than 4 million tablets of captagon through...
  • On Tuesday, Saudi Arabia announced the seizure of more than 12 million amphetamine pills hidden in a shipment of pomegranate fruit.
  • The vast majority of the region's captagon is produced in Syria and Lebanon and smuggled to its main consumer market in the Gulf.
Business

Dubai Investments okays 12.5% dividends

The group reported AED1.60bn as profit attributable to the shareholders.
  • The surge in net profit was attributed to disposal of controlling interest on retained investment in Emirates District Cooling.
  • The Board of Directors' recommendation to expand the board's size from seven to nine members was accepted by the shareholders.
Business

Borouge Q1 net profit $199m

The company reported revenues of $1.38 billion in Q1 2023.
  • The company said with a significant cash balance of over $1 billion, Borouge repaid $500 million of its $3.65 billion loan, which resulted in interest cost savings.
  • The company will pay a final dividend of $650 million to shareholders, bringing total post-IPO dividends for 2022 to $975 million.

AviLease, SDH Wings Sign MoU

The MoU will expand SDH Wings' portfolio of aircraft.
Business

Company News

Latest News

ACWA Power signs clean energy agreements with Chinese partners

Riyadh, Saudi Arabia -- Saudi-listed ACWA Power has signed seven cooperation agreements with Chinese firms for solar, green hydrogen and...
Business

Presight AI, TOTM form joint venture

The JV will develop and deploy their combined proprietary technologies.
Business

Sipchem 9M net profit down 67%

There was a 70% QoQ drop in net profit for the third quarter of 2023.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Saudi e-visa facility extended to Turkiye, five other countries

Riyadh, Saudi Arabia-- Saudi Arabia announced Tuesday that it will grant e-visa to visitors from six new countries -- Turkiye,...
  • Thailand, Panama, Saint Kitts and Nevis, Seychelles and Mauritius are the other countries now eligible for e-visa.
  • A visitor e-visa is also provided to holders of valid Schengen, UK and US visas that have been used to enter those countries before arriving in Saudi Arabia.
Economy

Qatar’s Industrial Production Index falls 2.1 percent in Aug 2023

Qatar's Industrial Production index (IPI) reached 105.2 points in August 2023, a decline by 2.1 percent compared to the previous month (July...
  • The index of the manufacturing sector showed an increase by 2.2 percent in August 2023 compared to the previous month (July 2023).
  • Refined petroleum products fell by 0.5 percent. No change noticed in group of printing and reproduction of recorded media.
Business

Manufacturers struggle to meet AI-related goals, says new white paper

DUBAI, UAE -- Despite many manufacturers integrating AI into their operations, a significant number of them face challenges in meeting...
  • A global Boston Consulting Group study from 2023 revealed that AI technologies could enhance productivity by over 20 percent.
  • While 90 percent of companies across various industries aim to incorporate AI, only one in six have met their AI-related objectives.