INSEAD Day 4 - 728x90

2PointZero posts profit surge

Growth driven by merger consolidation.

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.

Dubai ranks among world’s top 10 cities in Global Power City Index for second consecutive year

Dubai, UAE - Dubai has been ranked eighth worldwide and first in the Middle East in the Global Power City...

Economy

Dakar Rally Saudi Arabia 2025 kicks off Friday with over 800 competitors

Riyadh, Saudi Arabia -- The Dakar Rally 2025, the largest and longest race in the world of motorsports, is set...

Business

Over 3.8m passengers transit through Sharjah Airport in Q1 of 2023

SHARJAH, UAE -  Over 3.8 million passengers traveled through Sharjah Airport in the first quarter of 2023, recording a 28.01...
  • The aircraft movement in Q1 of 2023 rose by 9.02 per cent, with 23,261 flights compared to 21,336 flights during the same period in 2022.
  • There have been continued efforts by Sharjah Airport Authority to increase passenger numbers and aircraft movements.
Business

Eshraq to buyback shares

The share buyback is expected to enhance shareholder value.
  • The shareholders recommended Eshraq increase the shareholder distribution via an increased share buyback program.
  • The buyback will capitalize on the current share price discount compared to the company’s book value.
Business

Etihad Cargo introduces weekly flights to fourth Chinese destination

Abu Dhabi, UAE - Etihad Cargo added a fourth gateway destination to its Chinese network with the introduction of weekly...
  • With the start of two weekly freighter services between Abu Dhabi and Wuhan, Etihad Cargo will operate a total of ten freighter services to China.
  • The flights between Abu Dhabi and Wuhan will give Etihad Cargo's partners and customers greater accessibility to 25 domestic Chinese destinations.
Business

AD Ports Group purchases bulk carriers, crude oil tankers

ABU DHABI, UAE -  AD Ports Group has announced plans to expand its fleet by purchasing five bulk carriers and...
  • These vessel acquisitions will follow the recently signed agreements as part of the Group’s strategic global expansion objectives.
  • The five bulk carriers, to be purchased for AED459 million, form part of the long-term agreement with Saif Powertec, signed in April 2022.
Economy

Qatar’s industry PPI down by 2.56 percent in March

The Planning and Statistics Authority (PSA) said Monday , the PPI of March 2023 for the Mining and Quarrying showed...
  • The PPI include four main industry sectors-- mining (82.46 percent), manufacturing (15.85 percent), electricity (1.15 percent) and Water (0.52 percent).
  • The prices decrease is seen in refined petroleum products by 2.39 percent, followed chemicals and chemical products by 0.95 percent
Science

Bahrain free of India-made ‘contaminated’ cough syrup

Manama, Bahrain - Bahrain has taken steps to ban from its markets the contaminated cough syrups made in India in...
  • The National Health Regulatory Authority (NHRA) on Sunday confirmed that the Kingdom's markets are free of Indian cough syrup
  • The Authority has reassured the public that it is committed to ensuring the safety of medicines and pharmaceuticals circulating in the Kingdom
Business

AD Ports Group buys 5 bulk carriers, 3 crude oil tankers

Abu Dhabi, UAE – AD Ports Group has announced its plans to expand its fleet with the acquisition of five...
  • The five bulk carriers, worth approximately $125 million, will be purchased from Saif Powertec as part of a long-term agreement signed in April 2022
  • The deal involves the transportation of general bulk cargo between the UAE's Fujairah Port and destinations like the Indian subcontinent and Southeast Asia
Economy

Iran-Turkey trade hits $1.3bn in 3 months

Tehran, Iran - Iran and Turkey have traded $1.379 billion worth of goods in the first quarter of 2023, according...
  • Eurostat also reported a 17 percent decrease in Iranian gas exports to Turkey, totaling 1.567 billion cubic meters in the same period
  • The two nations have set a target of $30 billion in annual trade and to achieve this, both governments have been working to remove trade barriers

UAE launches guide to aid adoption of AI technology

Dubai, UAE - The UAE government has launched a comprehensive guide for the adoption of generative AI applications in the...
  • The guide provides a comprehensive exposition of generative artificial intelligence, explores the challenges and opportunities inherent in diverse digital technologies
  • The guide showcases 100 use-cases of generative AI, including image and video synthesis, language translation, music composition, and text creation
Economy

EU reports employment rate of 75 percent in 2022

BRUSSELS, BELGIUM  - In the European Union countries, 75 percent (193.5 million) of people in the 20-64-year- age group were...
  • The employment rate in the EU dropped to 72 percent in 2020 due to the COVID-19 pandemic.
  • In 2022, the EU over-qualification rate was 22 percent, with 21 percent for men and 23 percent for women.

Dubai ranks among world’s top 10 cities in Global Power City Index for second consecutive year

Dubai, UAE - Dubai has been ranked eighth worldwide and first in the Middle East in the Global Power City...
Economy

Company News

Latest News

UAE ranks first in Arab world in labor-resilient countries, says report

Dubai, UAE - Against the backdrop of the World Economic Forum in Davos, Whiteshield announces the release of the Global Labor...
Business

Turkey’s Tosyali plans $5bn investment for steel plant in Saudi Arabia: report

Riyadh, Saudi Arabia - Turkish-based Tosyali Holding is making nearly $5 billion investment in a new steel plant in Saudi...
Business

Aramco chief expects oil demand to rise by 1.5 mbpd in 2024

Riyadh, Saudi Arabia - Saudi Aramco's President and CEO, Amin Nasser, anticipates a surge in global oil demand, projecting an...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

Gold extends slide after Fed dampens March rate cut hope

Dubai, UAE - Gold prices extended losses on Wednesday as the US dollar strengthened after comments from a Federal Reserve...
  • Spot gold was down 0.2% at $2,023.49 per ounce, as of 0415 GMT, after stooping 1.3% in the previous session - its biggest single-day decline since 4th December 2023
  • The US Dollar Index, which gauges the dollar's strength against a basket of major currencies from key US trading partners has surpassed the 103.30 level
Business

Mawani reports rise in container handling

The growth aligns with the aims of national logistics strategy.
  • Saudi Arabia's overall ports recorded a 9.01% increase in annual container handling for 2023, reaching 11,380,302 TEU compared to 10,439,620 TEU in 2022
  • Transshipment containers also experienced an 8.96% increase in volume, with 3,237,490 TEU transshipped in 2023 compared to 2,971,233 TEU in 2022
Business

Iran wants trade with Saudi Arabia to be highest in region: Ambassador

Riyadh, Saudi Arabia - Iran wants to elevate the levels of trade and investment exchanges with Saudi Arabia to the...
  • The remarks assume significance in light of the absence of trade exchanges between the two countries, despite the significant scale of their foreign trade
  • In 2022, Saudi Arabia's foreign trade reached approximately $601.1 billion, while Iran's trade volume amounted to about $132.6 billion