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

Saudi Arabia’s inflation rises to 1.7 percent in November: GASTAT

Riyadh, Saudi Arabia -- Saudi Arabia’s inflation rose to 1.7 percent in November compared with the previous month, according to recent data...

Economy

SABIC announces 16% H2 cash dividend

The dividend of $1.27 billion is payable on Mar 4, 2024.

Business
Business

Containers handled by Saudi ports increase by 7.76 percent in Feb 2023

Dubai, UAE -- Saudi ports handled 7.76 percent more containers in Feb 2023, compared to the same period last year,...
  • Saudi ports received 100,903 passengers, an increase of 61.16 percent over the corresponding month in 2022, which recorded 62,611 passengers.
  • Incoming containers increased by 5.95 percent to reach 193,937 containers compared to 183,051 containers in Feb 2022.
Business

Middle East fragrances market to hit $4.41 billion by 2027

Dubai, UAE -- The Middle East fragrances market is expected to reach $4.41 billion in 2027, from $2.85 billion in 2019,...
  • Online sales market is expected to expand in the near future due to rapid growth in online and mobile user customer bases in emerging markets.
  • Over the past couple of years, however, the traditional mass market fragrance business has witnessed a decline in its sales as customers seek more upmarket brands.
Business

OPEC Fund to provide $40m loan for Vietnam SME financing needs

Vienna, Austria -- The OPEC Fund for International Development (OFID) will provide a $40 million loan to Vietnam Maritime Commercial...
  • The loan will support at least 80 local businesses, providing financing to meet critical needs to grow their businesses.
  • Vietnam has more than 500,000 private firms, and more than 95 percent of these are micro and small enterprises,
Geostrategy

UAE, Ukraine keen on parliamentary, economic ties

MANAMA, BAHRAIN -  Speaker of  the UAE Federal National Council Saqr Ghobash discussed ways to enhance cooperation with First Deputy...
  • UAE, Ukraine discuss parliamentary cooperation through exchanging visits and enhancing coordination.
  • The two sides deliberated on improving trade and economic ties between the two countries.
Videos

Real estate, e-commerce to push UAE growth

Global economic challenges have led the UAE to review priorities and investment trends, with a focus on five key sectors:...
  • The UAE economy recorded its fastest growth rate in over a decade despite the global economic slowdown.
  • The IMF expects the UAE’s non-oil economy to grow by about 4 percent in 2023 and accelerate over the medium-term.
Business

Saudi Enterprises Bank sets aside $2.79 billion to finance SMEs

Riyadh, Saudi Arabia -- The Small and Medium Enterprises Bank of Saudi Arabia's National Development Fund said Sunday it has...
  • The Bank's direct and indirect lending programs, financing guarantee programs and investment programs will be financed over the next three years.
  • These programs support the kingdom's Vision 2030 and to raise the contribution of SMEs to the GDP to 35 percent.
Business

Egypt’s exports to China increase by nearly 21 percent in 2022

Cairo, Egypt -- Egyptian exports to China rose by 20.8 percent to $1.7 billion in the first 11 months of...
  • The trade exchange between Egypt and China increased by 2.6 percent during the first 11 months of 2022, reaching $14.9 billion.
  • Fuel, mineral oils and distillate products, cotton, and fruits made up the top 10 categories of goods that Egypt shipped to China.
Business

Weeklong real estate deals worth $3.51 billion recorded in Dubai

Dubai, UAE -- Dubai recorded a total of 3,332 real estate transactions worth AED 12.9 billion ($3.51 billion) during the...
  • A Dubai Land Department report said that 274 plots were sold for AED 3.17 billion, while 2,370 apartment and villa sales totaled AED 4.93 billion.
  • Al Hebiah Fifth recorded the most transactions for this week with 117 sales transactions worth AED 320.97 million, followed by Jabal Ali First.
Business

Masdar, Cote d’lvoire to develop 70MW solar power plant

Abu Dhabi, UAE -- Masdar has signed an agreement with the Cote d'lvoire's energy ministry to explore the development of...
  • The agreements were signed under the umbrella of the Etihad 7 initiative, a UAE-led program that aims to build 20GW renewable energy in Africa.
  • The plant would support the Republic of Côte d'Ivoire’s goal of 42 percent of its energy mix coming from renewable sources by 2030.
Business

QCB issues treasury bills worth $832m for up to nine months

Doha, Qatar -- Qatar Central Bank (QCB) has issued treasury bills worth QR 3 billion ($832 million), attracting a total...
  • One of bills, valued QR 1 billion had a tenor of one week and a yield of 5.005 percent.
  • The bank issued treasury bills worth $274 million for a one-week term on Feb 26.

Saudi Arabia’s inflation rises to 1.7 percent in November: GASTAT

Riyadh, Saudi Arabia -- Saudi Arabia’s inflation rose to 1.7 percent in November compared with the previous month, according to recent data...
Economy

Company News

Latest News

Saudi Arabia Railways launches hydrogen train tests

Riyadh, Saudi Arabia -- Saudi Arabia Railways (SAR) has announced the launch of hydrogen train tests in the Kingdom, following...
Business

MOCCAE and Tadweer sign MoU to launch ‘Waste to Zero’ initiative

Abu Dhabi, UAE -- UAE's Ministry of Climate Change and Environment (MOCCAE) and Abu Dhabi Waste Management Company (Tadweer) have...
Geostrategy

Saudi Arabia’s cement sales fall by 8.5 percent in September

Riyadh, Saudi Arabia -- The aggregate sales of 17 Saudi cement producers decreased by 8.5 percent to 4.1 million tons...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Arts & Culture

Norwegian playwright Jon Fosse wins Nobel literature prize

Sometimes compared to Samuel Beckett, another Nobel-winning playwright, Fosse's work is minimalistic, relying on simple language which delivers its message...
  • Fosse's writing is defined more by form than content, where what is not said is often more revealing than what is.
  • Fosse's oeuvre, written in Nynorsk -- a written form of Norwegian used by 10 percent of the population -- spans a variety of genres.
Business

EWEC, Masdar sign purchase pact

Power to be purchased generated from UAE's Wind Programme.
  • This strategic agreement will see EWEC procuring power from the UAE's utility-scale wind programme for the first time.
  • Located at Sila, Sir Bani Yas Island and Delma Island, the wind power farms have a generation capacity of up to 99 megawatts.
Business

ADNOC to deploy UAE-made drones

ADNOC's partnership with EDGE Group aimed at cutting emissions.
  • EDGE’s autonomous systems arm, ADASI, will repurpose its existing UAVs for ADNOC to deploy in its operations, to minimize emissions and enhance environmental performance.
  • ADNOC has allocated an initial $15 billion (AED55 billion) to lower-carbon solutions, new energies and decarbonization technologies.