INSEAD Day 4 - 728x90

Samsung biggest chip investor

The tech giant invested nearly $59.2bn in 2025.

flynas to set up new hub

Five destinations in first phase of operations.

AD Ports Group acquires CLI

CLI is Brazilian agri-bulk terminal operator.

$1.59bn Makkah project awarded

A consortium will develop two districts in the Holy City.

2PointZero posts profit surge

Growth driven by merger consolidation.

PureHealth offer price $0.89 per share

The IPO witnesses demand of over AED 265bn ($72.15bn).

Business

Over-confidence leaves UAE consumers prone to online frauds: Visa study

Dubai, United Arab Emirates – Over-confidence is leaving consumers in UAE open to becoming victims of fraud, according to Visa’s...

Business
Business

Edmond de Rothschild to open advisory office in Dubai

Dubai, UAE -Edmond de Rothschild Group has announced the opening of an advisory office, Edmond de Rothschild (Middle East), at...
  • The Group has obtained an advisory license from the Dubai Financial Services Authority, which regulates services in DIFC
  • Ali Raza Syed, Senior Executive Officer of Edmond de Rothschild (Middle East), will be leading the local office in DIFC
Infographics

Slower GCC growth expected in 2023

The region's biggest economy, Saudi Arabia, was projected to accelerate to 8.3 percent in 2022 before moderating to 3.7 percent...
  • Maroun Kairouz, Director for the Middle East and North Africa (MENA) at the World Economic Forum says GCC countries would be the least affected by the recession.
  • Easing of pandemic restrictions, and positive developments in the hydrocarbon market drove strong recoveries in 2021 and 2022 across the GCC, World Bank says.
Business

Military, security sector free zone set up in Tawazun Park

Abu Dhabi, UAE---Tawazun Council, the defense and security acquisitions authority for the UAE armed forces and Abu Dhabi police, has...
  • The 2.8-square-kilometer zone has been established to commence operations related to defense and security industries and associated activities.
  • Tawazun Industrial Park is a regional center for defense and security industries.
Business

SABIC Agri profit $2.7 bn

The net profit for the year nearly doubled compared to 2021.
  • The company's sales (revenue) nearly doubled to 18.98 billion riyals in 2022 from 9.59 billion riyals the previous year.
  • The increase in net profit was due to an increase in average selling prices of company's products, increase in quantities sold of company products.
Business

ADNOC Gas increases IPO size to $2.5 billion on high investor demand

ADNOC Gas said that ADNOC will now offer 3.83 billion shares, equivalent to approximately 5 percent of ADNOC's total issued...
  • Khaled Al Zaabi, Group CFO of ADNOC, said the IPO of ADNOC Gas is set to be the largest-ever market debut on the Abu Dhabi Exchange to date.
  • The subscription period for the offering is unchanged and will continue until March 1, as part of a UAE public offering to individuals and other investors in the UAE.
Videos

Excess, storage issues behind food waste in GCC

Globally, around 14 percent of food produced is lost between harvest and retail, while an estimated 17 percent of total...
  • When food is lost or wasted, all the resources that were used to produce this food - including water, land, energy, labor and capital - go to waste.
  • The UN says the disposal of food loss and waste in landfills, leads to greenhouse gas emissions, contributing to climate change.
Business

Dubai records 35 percent rise in public transport use in 2022: RTA

Dubai, UAE--Dubai has recorded a 35 percent increase in the number of people using public transport like metro, tram, buses,...
  • About 1.7 million people rode public transport, shared mobility and taxis daily in 2022 compared to 1.3 million riders in 2021.
  • Dubai Metro achieved the largest percentage of the public transport, shared transport and taxis ridership of 36 percent in 2022.
Business

Qatar Central Bank issues $274 million treasury bills for a week

Doha, Qatar-- Qatar Central Bank (QCB) issued treasury bills worth QR 1 billion ($274 million) for a one-week term in...
  • Treasury bills are issued through auction for banks operating in Qatar to control liquidity rates and money supplies in the market.
  • In November last year, the bank issued Treasury Bills and Sukuk for periods of one week, one month, three, six and nine months worth $1.6 billion.
Business

Masdar to invest in Indonesia’s major geothermal player Pertamina

Abu Dhabi, United Arab Emirates: Abu Dhabi-based clean energy company Masdar has entered the geothermal energy sector by making an...
  • The investment marks Masdar’s entry into Indonesia, the world's second-largest geothermal market after the US.
  • Indonesia has a goal of increasing its installed geothermal capacity from 2.8 gigawatts (GW) in 2022 to 6.2 GW by 2030.
Business

Non-oil trade between UAE and Kuwait up 87 percent in 10 years

Abu Dhabi, UAE--- Non-oil foreign trade between the UAE and Kuwait has grown 87 percent over the past ten years...
  • The total trade between the two countries during 2013-2022 amounted to AED316.2 billion,
  • Non-oil trade between the UAE and Kuwait grew 13 percent, worth AED5 billion last year, to reach AED43.5 billion, compared to AED38.5 billion in 2021.

PureHealth offer price $0.89 per share

The IPO witnesses demand of over AED 265bn ($72.15bn).
Business

Company News

Latest News

ADNOC and Occidental to advance direct air capture project in UAE

Abu Dhabi, UAE -- ADNOC and international energy company, Occidental, announced today an agreement to undertake a joint preliminary engineering...
Business

South Korean firms eyeing expansion in UAE’s oil and gas sector

Abu Dhabi, UAE -- Top executives from South Korean companies have affirmed that numerous firms are actively looking to expand...
Business

Central Bank of Oman foreign assets up by 27% by July end

Muscat, Oman -- Foreign assets at the Central Bank of Oman (CBO) grew by 27.4 percent to RO 6.855 billion...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Abu Dhabi’s non-oil economy up by 12.3 percent in second quarter

Statistical estimates published by the Statistical Centre Abu Dhabi said the construction sector grew by 19.1 percent in the second...
  • The manufacturing activity grew by 7 percent compared to the same period last year, with the sector recording its highest quarterly value-added since 2014.
  • Abu Dhabi's financial sector recorded a robust growth of nearly 30 percent, also its highest growth rate since 2014.
Business

Saudi Arabia’s consumer spending up 8% to reach $30bn in Aug

Riyadh, Saudi Arabia -- Consumer spending in Saudi Arabia grew 8 percent to SAR 115.4 billion ($30.76 billion) in August 2023, from...
  • Consumer spending includes total cash withdrawals, point-of-sale (POS) transactions and e-commerce sales through "Mada".
  • E-commerce sales through Mada cards increased 27 percent YoY to SAR 14.4 billion in August, marking the highest-ever sales value.
Business

Crypto industry grapples with FTX fallout as boss goes on trial

London, United Kingdom -- The collapse of cryptocurrency platform FTX, whose disgraced former boss goes on trial this week, sparked shock...
  • Sam Bankman-Fried, once the wunderkind of crypto, will appear in a federal New York court on Tuesday facing seven counts of fraud.
  • FTX, once the world's second-biggest crypto exchange, collapsed last November amid accusations that client money was being funneled to prop up its investment arm Alameda.