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.

SAMA issues rules regulating ‘buy now pay later’ companies

Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has issued rules for regulating buy now pay later (BNPL) companies,...

Business

UAB concludes $200m term loan

Proceeds of the facility will be used for general corporate purposes.

Business
Geostrategy

Countries need $97 billion to achieve education targets: UNESCO

Paris, UAE -- Without $97 billion in extra funding, a range of countries will fail to meet their 2030 national...
  • The largest financing gap is in sub-Saharan Africa: $70bn per year. The region has the furthest distance to travel, with 20 percent of primary school age children not in school.
  • Around one third of the gap could be filled if donors fulfilled their aid commitments and prioritized basic education in the poorest countries, the report found.
Business

UAE India’s second biggest export destination, third for imports

Dubai, UAE -- The UAE continues to be the second most important export destination for India, according to annual trade...
  • India's Ministry of Commerce and Industry said the US and the UAE retained the first and second place as top export destinations for the country.
  • The number of new Indian companies that joined Dubai Chamber of Commerce in 2022 exceeded 11,000, bringing the total to 83,000 companies.
Business

Dubai records real estate deals worth $1.03bn in two days

Dubai, UAE -- Dubai's real estate market recorded real estate transactions worth AED1.1 billion ($299 million) on Friday, according to...
  • On Friday, deals worth AED1.1 billion ($299 million) on Friday, according to the data released by Dubai's Land Department.
  • The sales on Thursday included 388 villas and apartments worth AED791.15 billion, and 55 land plots worth AED236.4 million.
Economy

Gender equality in agrifood systems can add $1 trillion to global GDP: FAO

Rome, Italy -- Tackling gender inequalities in agrifood systems and empowering women reduces hunger, boosts the economy, and reinforces resilience...
  • Globally, 36 per cent of working women are employed in agrifood systems, along with 38 per cent of working men.
  • The gap in food insecurity between men and women widened from 1.7 percentage points in 2019 to 4.3 percentage points in 2021.
Business

Barwa Q1 net profit $64.55m

The company had reported a 2.18 percent rise in profit for 2022.
  • For the first quarter of 2023, Lesha Bank announced a net profit of QR22 million, compared to 21 million the same quarter previous year.
  • Qatar Fuel Company recorded a 15 percent decrease in net profit to QR223 in Q1 2023 compared to more than QR262 million for Q1 2022.
Economy

Italy calls for unconditional pre-reform bailout package for Tunisia

Tunisia reached a deal in principle in October with the IMF for nearly $2 billion to shore up its sinking...
  • EU leaders including Italian Prime Minister Giorgia Meloni have warned of the risks of an economic collapse which could drive more people to cross the Mediterranean Sea.
  • Migrants from across Africa and Tunisia itself regularly use Tunisia's coastline, less than 150km from the Italian island of Lampedusa, to reach Europe.
Business

Investment in rose market in Saudi Arabia’s Taif reaches $17m

Dubai, UAE -- The ongoing Taif rose season in Saudi Arabia, which starts at the beginning of March and last...
  • Rose farms in the Sarawat Mountains in Taif Governorate harvest about 550 million roses annually.
  • About 70 rose factories and laboratories extract and manufacture more than 80 rose derivatives.
Business

Sharjah records real estate transactions worth $462m in March

Sharjah, UAE -- A total of 3,386 real estate deals worth AED1.7 billion ($462 million) were recorded in Sharjah in...
  • A total of 595 sales transactions representing 17.6 percent of the deals, while 319 mortgage transactions (9.4 percent) were recorded in the emirate.
  • Muwailih commercial area topped the list of sales traffic areas with 116 sales transactions, followed by Mazairah and Al-Khan with 68 transactions each.
Business

Middle East and Africa to see fastest AI spending growth in 2022-26: IDC

Dubai, UAE – Spending on artificial intelligence in the Middle East and Africa (MEA) — including Israel — will reach...
  • While the spending on AI will reach $3 billion in 2023, it will hit about $6.4 billion in 2026.
  • Banking, retail, and federal/central government will be the MEA region's biggest spenders on AI in 2023.
Economy

IMF lowers 2023 forecast to 2.8%, warns of half-decade of low growth

The IMF predicted the global economy will grow by 2.8 percent this year and three percent in 2024, a decline...
  • The IMF expects global inflation to slow to seven percent this year, down from 8.7 percent last year, according to the WEO forecasts.
  • Close to 90 percent of advanced economies will experience slowing growth this year, while Asia's emerging markets are expected to see a substantial rise in economic output.

SAMA issues rules regulating ‘buy now pay later’ companies

Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has issued rules for regulating buy now pay later (BNPL) companies,...
Business

Company News

Latest News

Israeli bombardment kills 2,670 in Gaza: Health ministry

Israel's strikes on the Gaza Strip have led to an "unprecedented human catastrophe" in the Palestinian territory, the United Nations...
Geostrategy

Early economic measures tame Saudi inflation at 1.7% in Sept: GASTAT

Riyadh, Saudi Arabia -- Saudi Arabia's Consumer Price Index (CPI) increased by 1.7 percent in September 2023, compared to September...
Business

Marakeb first firm to develop maritime applications in SAVI cluster

Abu Dhabi, UAE -- The Abu Dhabi Investment Office (ADIO) announced that Marakeb Technologies will become the first anchor company...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Presight, Samruk-Kazyna to form JV

Samruk-Kazyna is Kazakhstan's $70bn asset sovereign wealth fund.
  • The joint venture aims to accelerate digital transformation in Kazakhstan.
  • Presight will deploy its AI and big data analytics solutions and technologies.
Business

World’s biggest sustainable farm in Saudi enters Guinness Records

Riyadh, Saudi Arabia – A farm in Saudi Arabia has entered the Guinness World Records as the world's largest sustainable...
  • The farm is one of the extension farms of the rejuvenated water farming research unit of the Bin Heshbal Valley in the Asir Region.
  • The total area of the farm is 3.2 million square meters, divided into two sections, each with a concrete tank with a capacity of 500 cubic meters.
Business

Dollar sukuk activity for 2023 on course to outpace 2022: Fitch

Dubai, UAE: US dollar sukuk issuance for 2023 is on course to outpace 2022 due to funding needs and diversification strategies,...
  • The third quarter sukuk issuance in all currencies ($51.7 billion equivalent) issued in core markets was 12.3 percent lower YoY, while bond issuance fell by 17 percent YoY.
  • Global outstanding sukuk expanded by 9.8 percent YoY to $823.4 billion at the end of third quarter, with the largest shares in Malaysia (40 percent).