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.

Residential, hospitality sectors drive Saudi Arabia’s real estate market in H1 2024

The Kingdom’s tourism and entertainment investments, including a new star rating system, support growth in hospitality, positioning Saudi Arabia as...

Economy

Crypto crime drops 19.6% as digital ecosystem matures

Advanced blockchain analysis tools, such as those provided by Chainalysis, are empowering law enforcement agencies and enterprises to counter the...

Economy

ADNIC 2022  profit is $103mn

The company's underwriting income was $133 million.
  • The company’s gross written premiums increased by 20.1 percent to $1.39 billion compared to $1.16 billion in 2021
  • Its net underwriting income was $133 million, compared to $134 million in the previous year in the previous year
Business

Nakilat 2022 profit surges 6.3%

The earnings per share amounted to QR 0.26.
  • The earnings per share (EPS) amounted to QR 0.26 as of Dec. 31, 2022 compared to EPS of QR 0.24 for the same period in 2021
  • The Board of Directors have proposed a cash dividend of 13 percent of the nominal share value - 0.13 Qatari Riyal per share
Business

Air Arabia 2022 net profit $326m

FY'22 turnover rose to $1.4 billion, up 65 percent YoY.
  • The average seat load factor – or passengers carried as a percentage of available seats – for the full year stood at a high 80 percent.
  • Air Arabia’s Board of Directors proposed a dividend distribution of 15 percent of share capital, which is equivalent to 15 fils per share.
Business

DEWA, ENOC sign MoU

Aim is to develop hydrogen-based mobility pilot project.
  • The MoU between DEWA and ENOC was signed at the World Government Summit 2023 in Dubai.
  • The project will utilize DEWA's existing green hydrogen production facility and ENOC's knowledge of the fuel market.
Business

Empower 2022 net profit $762m

Firm has proposed dividend of S$115 million for 2nd half 2022.
  • The quality and sustainability of its services and advanced infrastructure has made it one of the world's largest player in the district cooling industry.
  • This performance reflects the confidence in Empower by its customers and stakeholders, and the economic boom of Dubai.
Business

ADNOC Drilling profit rises 33%

The revenue climbed to $2.67 billion in 2022.
  • The company stated in a regulatory filing that the addition of more rigs to its operating fleet, which currently number 115 rigs, was a major factor in its success
  • It provided an optimistic forecast for 2023, with sales expected to range between $3 billion and $3.2 billion, indicating up to 20 percent annual growth
Geostrategy

Egyptian President in UAE, to attend World Government Summit in Dubai

The two leaders exchanged discussed "brotherly bilateral ties" and aspects of joint cooperation and ways of furthering them
  • The two leaders exchanged discussed "brotherly bilateral ties" and aspects of joint cooperation and ways of furthering them
  • President El-Sisi will outline Egypt's economic and development policies and priorities at World Government Summit
Business

DEWA’s R&D Center registers its 7th patent for 3D printing adhesive device

DUBAI, UAE -  Dubai Electricity and Water Authority (DEWA) has announced the registration of a new patent for an adhesive...
  • The device distributes the adhesive material on the 3D printing plate, ensuring that the printed material sticks securely to the build plate.
  • DEWA's R&D Center is responsible for supporting innovation in all production and operational areas.
Geostrategy

Iranians celebrate 44th anniversary of Islamic revolution

this year, many flag-waving people travelled on foot to converge on the capital's iconic Azadi (Freedom) Square, despite chilly temperatures....
  • State television said the celebrations were held in 1,400 cities and towns across the country, airing footage of large rallies in Isfahan, Mashhad, Shiraz, and Tabriz
  • For the past two years, the 1979 overthrow of the Western-backed Shah was commemorated mainly in vehicles and on motorcycles due to Covid restrictions
Economy

OPEC Fund supports critical infrastructure in Africa with $50m loan

The proceeds of the 10-year loan will be used to improve connectivity, transport, logistics, trade and to boost access to...
  • The proceeds of the 10-year loan will be used to improve connectivity, transport, logistics, trade and to boost access to energy across the African continent
  • Africa’s economic growth has been slowed by global supply chain disruptions and rising costs in the aftermath of the COVID-19 pandemic

Residential, hospitality sectors drive Saudi Arabia’s real estate market in H1 2024

The Kingdom’s tourism and entertainment investments, including a new star rating system, support growth in hospitality, positioning Saudi Arabia as...
Economy

Company News

Latest News

44 large direct deals on IHC worth $1.205 bn at ADX Thursday

Abu Dhabi, UAE – A wave of 44 large direct deals swept over the International Holding Company (IHC) shares on...
Business

UAE banking sector sees $71.87 billion in savings deposits until October 2023

Dubai, UAE - Savings Deposits in the banking sector in the UAE, excluding interbank deposits, hit $71.87 billion by the...
Economy

Middle East dish Harees inscribed on UNESCO list of Intangible Cultural Heritage

Abu Dhabi, UAE - The popular traditional food Harees is now inscribed on the UNESCO Representative List of Intangible Cultural...
Arts & Culture
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

EU reaches agreement on reforming bloc’s migration laws

Spain, which chaired the lengthy negotiations in its role holding the EU presidency, said on X, formerly Twitter: "A political...
  • The reform includes speedier vetting of irregular arrivals, creating border detention centres, and accelerated deportation for rejected asylum applicants
  • The accord still needs to be formally approved by the European Council, representing the 27 EU member countries, and the European Parliament before it enters the bloc's lawbooks

Saudi Arabia introduces unified platform for visas, including Hajj, Umrah

Riyadh, Saudi Arabia - Saudi Arabia on Tuesday introduced 'KSA VISA,' a unified visa platform aimed at streamlining visa application...
  • The platform aims to automate visa issuance procedures, thereby enhancing the overall visitor experience
  • The initiative is a step in the kingdom's strategy to bolster tourism in the forthcoming years
Geostrategy

15% increase in air traffic at UAE airports during COP28, says GCAA

ABU DHABI, UAE – Airports in the country witnessed a 15 percent increase in air traffic during the 28th Conference...
  • The first day of COP28 - November 30 2023 - witnessed the highest daily air traffic rate in the history of civil aviation in the UAE with 2,848 flights.
  • The General Civil Aviation Authority organized meets and daily communication sessions to discuss plans, improve air navigation management systems.