INSEAD Day 4 - 728x90

DIB H1 net profit $1bn

Gross revenue increased 10% year on year

SIB H1 profit up 15.3%

Total operating income rises 20.5 percent.

flydubai Aleppo flights resumed

The flights were resumed after nearly 14 years.

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.

Study: Legacy technology not impeding adoption of AI and Machine Learning in UAE and Saudi Arabia

Manufacturers see AI as critical for decarbonization (66%), improving ESG scores, energy monitoring (55%), advancing digital twins (68%), and enabling...

Economy

‘AI saved 1.5 billion liters of water, cut carbon emissions equivalent to 1 million trees in Saudi Arabia’

Riyadh, Saudi Arabia – Artificial intelligence (AI) has contributed to saving 150 million sheets of paper and conserving 1.5 billion...

Economy

Dubai Financial Market hits one-month high riding on blue-chip communication stocks

Abu Dhabi, UAE - UAE stock markets Monday continued to capitalize on improved investor sentiments, with blue-chip communication stocks leading...
  • Saudi Arabia, as per the report, was the best performing GCC market during the month with a gain of 4.8 percent
  • The Muscat Stock Exchange was the second-best performing market for the second consecutive month in March 2023
Economy

Bahrain’s investment push: Businesses with large-scale projects to get Golden Licence

Manama, Bahrain - Bahrain has announced the launch of a Golden Licence, providing incentives and streamlined services to foreign and...
  • The move builds upon the growing investment attractiveness of Bahrain, which has recently recorded its highest Real GDP growth rate in almost a decade
  • Companies with major investment projects that will create over 500 jobs, or those with investment value exceeding $50 million, will be eligible for the license
Business

MODON to acquire GE’s Industrial Complex in the Eastern Region

Riyadh, Saudi Arabia --  The Authority for Industrial Cities and Technology Zones (MODON) has signed an agreement with GE whereby...
  • Under the pact, initiatives will be launched to support and empower entrepreneurs and SMEs
  • The company is also keen to boost its partnerships with major global manufacturers and companies
Business

NREC 2022 profit declines

The company announced Earnings Per Share of 10.1 fils.
  • The company also announced an Earnings Per Share of 10.1 fils for the last year, compared to an EPS of 112.2 fils in 2021
  • Its operating revenue came in at $85 million for the year ending December 31, 2022, compared to $106 million in 2021
Geostrategy

Jordan king says ‘duty to deter Israeli escalation’ in Jerusalem, safeguard holy sites

The king touted a longtime commitment to preserving "peace and harmony" at Jerusalem's Al-Aqsa mosque compound -- Islam's third holiest...
  • A statement said the king told the delegation, led by Palestinian president Mahmud Abbas, that Jordan "will always be with you."
  • The meeting follows tensions with the Israeli government over a minister's remarks denying the existence of the Palestinian people
Geostrategy

Arab thaw: Egypt’s Sisi likely to meet Syria’s Assad this month

Cairo. Egypt - The Egyptian President Abdel Fattah al-Sisi is planning to hold a meeting with his Syrian counterpart Bashar...
  • Cairo and Damascus are in the process of restoring diplomatic ties after the end of the holy month of Ramadan
  • Syrian Foreign Minister Faisal Mekdad was in Cairo for talks with Egyptian officials, marking the first such visit in over a decade
Geostrategy

Egyptian President al-Sisi meets Saudi Crown Prince amid quest for financial aid

CAIRO, EGYPT - Egyptian President Abdel Fattah al-Sisi met Saudi Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz...
  • Both Egypt and Saudi Arabia possess significant influence within the Arab, Islamic, and international spheres.
  • The similarity between Egyptian and Saudi policies leads to alignment on several global, Arab, and Islamic issues.
Economy

EU bloc records highest ever trade deficit in 2022

BRUSSELS, BELGIUM  - The EU trade in goods registered a large deficit of US$469 billion (€432 billion) in 2022, reaching...
  • The deficit was due, in particular, to a steep rise in the value of energy imports, which started towards the end of 2021 and continued through most of 2022.
  • Also in 2022, non-EU imports (+41 percent) and exports (+18 percent) reached their highest year-on-year growth rates recorded over the last 10 years.
Geostrategy

Syrian foreign minister on a visit to Egypt

Egypt's Foreign Minister Sameh Shoukry met with his Syrian counterpart Faisal Mekdad in Cairo, a first since Syria's civil war...
  • Several Arab countries rushed to Syria's aid after a February 6 earthquake killed tens of thousands in the war-torn country.
  • Egyptian President Abdel Fattah al-Sisi called his Syrian counterpart Bashar al-Assad in an unprecedented show of support.
Geostrategy

Norway contributes US$23.7m of flexible funding to FAO

ROME, ITALY  -  The Food and Agriculture Organization of the United Nations (FAO) has welcomed a US$23.7 million contribution from...
  • The funds will be channeled through FAO’s Special Fund for Emergency and Rehabilitation Activities - a funding mechanism with streamlined procedures.
  • With this, FAO aims to reach around 600,000 food insecure people with farming inputs, livestock supplies, fishing inputs and cash assistance where needed.

Study: Legacy technology not impeding adoption of AI and Machine Learning in UAE and Saudi Arabia

Manufacturers see AI as critical for decarbonization (66%), improving ESG scores, energy monitoring (55%), advancing digital twins (68%), and enabling...
Economy

Company News

Latest News

Bitcoin surpasses $47,000, first time since March 30, 2022

Abu Dhabi, UAE - Bitcoin surged above $47,000 on January 9, marking its highest value since March 30, 2022, as...
Business

Saudi Arabia tops MENA in venture capital investment in 2023

Riyadh, Saudi Arabia - Saudi Arabia achieves first rank across MENA for the first time in terms of the amount...

China says foreign consulting agency head spied for Britain

China, which has a broad definition of state secrets, has publicized several other alleged spying cases in recent months. In...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Saudi Exchange launches TASI50 Index tracking top 50 companies by market capitalization

Riyadh, Saudi Arabia – The Saudi Exchange has announced the launch of the TASI50 Index, which tracks the top 50 companies...
  • The companies have a minimum annual traded value ratio (ATVR) of 5%, ensuring that the index tracks the largest companies in the market
  • The index is an important tool for both individual and institutional investors, providing an overview of market performance in real time
Geostrategy

Blinken warns Israel-Hamas war could ‘metastasize’

Blinken will meet with Crown Prince Mohammed bin Salman in the Saudi desert city of Al-Ula, said a US official...
  • Israel has carried out a relentless bombardment and ground invasion that have killed at least 22,835 people in Gaza, most of them women and children
  • Amid the deepening humanitarian crisis and mass displacement in Gaza, Blinken said civilians "must be able to return home as soon as conditions allow".

Makkah region sees 600% surge in green spaces within 5 months

Jeddah, Saudi Arabia - There has been a 600% increase in green spaces in Makkah region from August to December...
  • Remote sensing data analysis revealed that the total area of vegetation cover in Makkah in August was 3,529.4 square kilometers
  • This area gradually rose over the following months with increased rainfall, reaching 26,256 square kilometers by the end of the year