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.

Gaza ‘integral part’ of Palestinian state: Abbas tells US official

The talks with US National Security Advisor Jake Sullivan came as Israel pressed its offensive in Gaza despite mounting international...

Geostrategy

Qatar records real estate transactions worth $400 million in Nov

Doha, Qatar -- Qatar reported a total of 321 real estate transactions worth QR 1.46 billion ($400 million) in November...

Business
Business

Dubai records $626 million in realty transactions: Land Department

Dubai, UAE -- Dubai recorded real estate deals worth AED2.3 billion ($626 million) on Wednesday, according to Dubai Land Department....
  • The deals included 502 sales transactions worth AED1.44 billion, in addition to 95 mortgage deals of AED898.52 million.
  • The sales included 465 villas and apartments worth AED1.1 billion, and 37 land plots worth AED340.65 million.
Economy

CBUAE issues new AED1000 banknote, depicts UAE’s space ambitions

Dubai, UAE -- The Central Bank of the UAE (CBUAE) issued a new banknote of AED1000 denomination and made of...
  • The new banknote will be available at banks and exchange houses from 10 April 2023.
  • It will be in circulation alongside the current AED1000 note whose value is guaranteed by the UAE law.
Business

UAE decision on Small Business Relief aims to support startups

Dubai, UAE – UAE’s Ministry of Finance has announced a decision on Small Business Relief (SBR), which is aimed at...
  • The decision is also aimed at supporting other small or micro businesses by reducing their corporate tax burden and compliance costs.
  • The Relief will not be available once a taxable person exceeds the AED3 million revenue threshold in any tax period.
Business

Jordan’s $1.25 billion Eurobonds oversubscribed six times

Dubai, UAE – Jordan’s Ministry of Finance and Central Bank Wednesday said they have completed the issuance of $1.25 billion...
  • The kingdom's finance ministry reduced the coupon rate by 25 basis points from 2022's issue of 7.75 despite the US Federal Reserve raising interest rates seven times since.
  • Jordanian media reports said the number of subscribers exceeded 230, including some of the largest global investment houses.
Videos

Saudi Arabia hub of big healthcare firms

The current healthcare expenditure in the Gulf Cooperation Council region is expected to reach $135 billion in 2027, implying an...
  • The kingdom will need 19,000 to 20,000 additional hospital beds by 2030, which calls for an investment of $33.8 billion to $35.6 billion.
  • Saudi Arabia's healthcare has seen tremendous growth and it continues to be one of the few sectors that have not been affected by economic fluctuations.
Geostrategy

US, EU vow to keep energy markets stable, maintain Russia sanctions

A joint statement issued after the tenth US-EU Energy Council in Brussels said competitive, liquid and transparent global energy markets...
  • Russia’s war has also triggered a global food and energy security crisis, with sharp increases in prices and market volatility, the Council said.
  • The US, the EU and its Member States intend to continue providing emergency energy assistance to Ukraine via the support fora set up in 2022, it added.
Business

SEC to raise $2bn from sukuk

The firm announced 10-year and 30-year tranches.
  • The firm offered a total of 10,000 bonds in the 10-year green sukuk tranche of $1.2 billion and a 30-year conventional tranche of $800 million.
  • The sukuk offering was made under the company’s newly established international sukuk program. Reportedly, the two tranches drew more than $15 billion in demand.
Business

Hotpack to build plant in KSA

The packaging plant will be one of the largest in the world.
  • The company signed an MoU with the kingdom's Ministry of Investment and the Ministry of Industry and Minerals for the project that will cost 1 billion Saudi riyals ($266 million).
  • With an expected employment to the tune of 1200, the project will also help Hotpack to acquire a significant market share in Saudi Arabia, the statement added.
Videos

Innovation key to solving Gulf water woes

Improved farming techniques, better desalination technologies, awareness campaigns and global cooperation can mitigate the regions problems caused by water scarcity.
  • World Economic Forum says the Middle East and North Africa is one of the most water-scarce regions in the world.
  • For years, the water crisis has exacerbated conflict and political tensions, while UNICEF says 90% of children in the region live in water stress areas.
Business

GKSD to invest in Middle East

The investment was announced during Investopia 2023.
  • 'Smart Clinics', which was hailed as one of the key outcomes of the conference, is a new concept in the healthcare sector that focuses on improving life quality.
  • Gruppo San Donato, a private hospital group in Italy, and UAE Ministry of Economy, are part of an MoU for the Smart Clinics program.

Gaza ‘integral part’ of Palestinian state: Abbas tells US official

The talks with US National Security Advisor Jake Sullivan came as Israel pressed its offensive in Gaza despite mounting international...
Geostrategy

Company News

Latest News

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,...
Business

US to place second aircraft carrier in Mediterranean: White House

Washington, United States -- The second American aircraft carrier, the Dwight Eisenhower, will be placed in the Mediterranean Sea, coordinator...
Geostrategy

Qatar signs joint cooperation agreements with IMF on SDRs

Dubai, UAE - Qatar has signed two agreements with the International Monetary Fund (IMF) on its contributions towards IMF's poverty...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Aramco looks to invest in Shangong Yulong Petrochemical

Dhahran, Saudi Arabia -- Aramco has signed an MoU that paves the way for Aramco's potential acquisition of a 10...
  • Aramco signed an MoU with Nanshan Group, Shandong Energy Group, and Shandong Yulong Petrochemical to pave way for the acquisition.
  • Shandong Yulong is presently in the final stages of constructing a significant refining and petrochemical complex with the capacity to process approximately 400,000 barrels per day
Business

MENA awards $101 billion construction projects in first half

Dubai, UAE -- Despite global economic uncertainties, the construction industry in the Middle East and North Africa (MENA) awarded a...
  • The lion's share of these projects, approximately 67 percent, hailed from Saudi Arabia, contributing $44 billion, and the United Arab Emirates (UAE), accounting for $23 billion.
  • The collective estimated value of the project pipeline in the MENA region surpassed $3 trillion, with Egypt, Saudi Arabia, and the UAE owning more than 60 percent of it.
Business

SIRC and Edama sign partnership

They will create a joint company to upgrade organic waste recycling.
  • The joint project will help in meeting the challenge of sustainable waste management and contribute to creating a national circular economy.
  • The project will provide a solution to the challenges faced by the Saudi Green Initiative (SGI) in its mission to plant 10 billion trees.