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.

Israeli football supporters back home after Amsterdam violence

Tel Aviv, Israel - A plane bringing Israeli football supporters home from Amsterdam landed at Israel's Ben Gurion airport on Friday after...

Saudi Arabia to host largest health event with global participation on Oct 21-23

Riyadh, Saudi Arabia – Saudi Arabia is preparing to host the seventh edition of the Global Health Forum under the...

Business

DFM approves cash dividend

The company posted an increase of 41.7% in profit.
  • The new fixed dividend policy stipulates that the company annually pays a minimum of 50% of its distributable net profit
  • The company also approved the appointment of the Fatwa and Sharia’ Supervisory Board members for the year 2023
Economy

First India-GCC senior officials meeting held in Riyadh

New Delhi, India - The first ever meeting of senior officials of India and the Gulf Cooperation Council (GCC) was...
  • India has been steadily stepping up institutional engagement of the GCC in addition to regular bilateral meetings with its member countries
  • As a trade bloc, the GCC is the largest trade partner of India with a total trade of US$154 billion during the last financial year
Geostrategy

Jordan king discusses modernization efforts in meeting with EU envoys

Amman, Jordan - Jordan king Abdullah on Monday discussed his country's modernization efforts in a meeting  with a number of...
  • The meeting covered Jordan's modernization efforts, with the king reaffirming the Kingdom’s seriousness about political and economic reforms
  • Discussions also covered the latest developments in the Syrian crisis and the need to step up international efforts to reach a political solution
Geostrategy

Iran proposes three locations to Saudi Arabia for foreign ministers’ meeting 

Dubai, UAE - Saudi Arabia and Iran are taking more steps to consolidate their ties following the rapprochement between them...
  • Iranian President Ebrahim Raisi has already "welcomed" invitation from Saudi Arabia's King Salman to visit the kingdom following the reconciliation deal between the two countries
  • Iranian foreign minister also said that his country hoped steps would be taken to normalize its ties with Bahrain, a Saudi ally that had also severed ties with Iran in 2016
Economy

Two Indian companies investing $45m in Bahrain

Manama, Bahrain: Aerolam Middle East and Titan Company are set to launch their operations in Bahrain with a total investment...
  • Titan is gearing up to launch Tanishq in Bahrain, backed by a franchise partner from India, with a total expected investment of approximately $30 million
  • The volume of trade between the two countries with a focus on financial services and logistics has increased by 30 percent since 2018, reaching $1.4 billion in 2022
Geostrategy

UAE, Serbia discuss cooperation in R&D, innovation

BELGRADE, SERBIA - UAE Minister of State for Public Education and Advanced Technology  Sarah Al Amiri discussed cooperation in research...
  • The UAE minister discussed ways to enhance cooperation between the two nations in her visit to Serbia.
  • She also discussed ways and means to strengthen the education system and vocational schools.
Geostrategy

Reform of multilateral financial institutions must for climate action, says Dr Al Jaber

PARIS, FRANCE  -  COP28 President-Designate Dr. Sultan Al Jaber met French President Emmanuel Macron and outlined his vision on the...
  • The UAE minister stressed on the need to deploy all necessary resources to transform the global energy systems.
  • Dr. Al Jaber emphasized the need for ambitious reforms across international financial institutions and multilateral development banks.
Geostrategy

Jordan Chamber of Commerce, Hungarian envoy discuss economic ties

AMMAN,  JORDAN -  Vice President of the Jordan Chamber of Commerce (JCC) Jamal Rifai discussed with Hungarian Ambassador to Jordan...
  • The joint Jordanian-Hungarian committee aims to present investment opportunities in the two countries.
  • In 2022, Jordan's exports to Hungary was worth US$1.15 million and imports were US$34 million, as per official data.
Economy

S&P, Moody’s revise Saudi Arabia’s outlook to ‘positive’

Riyadh, Saudi Arabia -- The global credit rating agency S&P Global Ratings updated its credit report for Saudi Arabia, raising...
  • The agency highlighted the kingdom's strong real GDP growth of 8.7 percent in 2022, the highest among the G-20 economies
  • It forecasts the non-oil sector to remain strong through 2026 due to service sector growth supported by the ongoing social reforms
Business

UAE banks provide $23bn in financial facilities to SMEs in 2022

Abu Dhabi, UAE – The UAE banks provided AED 83.3 billion ($23 billion)  in financial facilities to small and medium-sized...
  • Loans to SMEs accounted for 10.4 percent of the total accumulated balance of financial facilities for the trade and industrial sector
  • The SMEs sector represents more than 95 percent of the total number of companies operating in the country, according to Ministry of Economy

Israeli football supporters back home after Amsterdam violence

Tel Aviv, Israel - A plane bringing Israeli football supporters home from Amsterdam landed at Israel's Ben Gurion airport on Friday after...

Company News

Latest News

ROSHN recognized as best place to work in Saudi Arabia for 2023

Riyadh, Saudi Arabia -- ROSHN Group has been recently recognized as "The Best Place to Work in Saudi Arabia" for...

Noatum buys APM Terminals Castellón

Noatum Terminals is the terminals ops business of Noatum Group.
Business

Saudi Arabia set to open its first financial center

Riyadh, Saudi Arabia - Saudi Arabia is poised to launch its inaugural financial center, with unified and standardized policies and...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

IHC announces formation of 2PointZero – a next generation holding company

ABU DHABI, UAE - The International Holding Company (IHC) announced the initiation of the transfer of 2PointZero, a next generation...
  • 2PointZero is more than a holding company - it embodies a vision of progress across a variety of industry verticals.
  • Spanning multiple sectors, business combinations of entities under common control, have been combined to form 2PointZero.
Business

Halliburton, Hamriyah Free Zone in pact

Halliburton has been operating in the UAE for five decades.
  • Under the agreement, Halliburton will expand its footprint within the UAE by establishing a cutting-edge facility for calibrating drilling tools used in the oil industry
  • The state-of-the-art facility is set to occupy a substantial area of more than one million square feet within the Hamriyah Free Zone
Economy

Saudi Arabia launches skill verification program in Egypt

Riyadh, Saudi Arabia - Saudi Arabia, through its Ministry of Human Resources and Social Development (MHRSD), has initiated the first...
  • The collaborative effort with the Egyptian Ministry of Manpower aims to improve the proficiency of professional labor in Egypt
  • In its inaugural phase, the SVP will focus on evaluating skills in five key professions: plumbing, electrical work, welding, automotive mechanics, and carpentry