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.

Iran oil minister blames Israel for gas pipeline sabotage

Tehran, Iran--Iran said Wednesday that Israel was behind twin sabotage attacks against gas pipelines that disrupted supplies in at least...

Geostrategy

BP to pour US$1.5bn into Egypt oil exploration

It plans to hike investments in the country to US$5 billion.

Business
Economy

Saudi banking sector poised for gains, after profitable 2022: BCG

Riyadh, Saudi Arabia--Saudi Arabia’s banking sector grew in 2022 on the back of potent revenue growth and is set for...
  • According to Boston Consulting Group, the kingdom’s banking profits after taxes have grown an average of 7.9 percent per year since 2016
  • The report argues that in spite of the economic instability worldwide inflation has not been an issue in the Middle East
Economy

World Bank applauds UAE for improving gender balance

Abu Dhabi, UAE--Commending the UAE for being in the forefront of the drive to improve gender balance in the country,...
  • Iva Hamel of the World Bank said that the UAE has introduced legal provisions to ensure women receive equal pay and to prohibit gender-based discrimination in the workplace
  • She lauded the UAE for becoming the first country in the Middle East and North Africa to implement parental leave for fathers
Business

Saudi Arabia and South Korea sign several MoUs to deepen ties

Riyadh, Saudi Arabia--Saudi Arabia and South Korea have signed multiple memorandum of understandings aimed at supporting SMEs, along with enabling...
  • The two minister discussed ways to attract South Korean SMEs to the kingdom as they examined potential investment cooperation opportunities
  • The Korean minister said improved ties with Saudi Arabia would encourage businesses in South Korea to tap into the global market
Economy

Egypt’s exports to China shoot up 21% to US$1.7bn in 2022

Cairo, Egypt--Egypt’s export to China increased by 20.8 percent to $1.7 billion in the first 11 months of 2022, compared...
  • Trade between the two countries shot up by 2.6 percent during the first 11 months of 2022, reaching $14.9 billion from $14.5 billion, according to the official data
  • The North African country's imports from China totaled $13.2 billion from January to November 2022, up from $13.1 billion in the same period in 2021
Economy

After SVB fall, US regulators shut down crypto-focused Signature Bank

Signature Bank was reeling from a bet on crypto banking that foundered after the sector imploded and banking regulators cracked...
  • Signature Bank's collapse is the third in under a week after Silvergate Bank's voluntary liquidation and Silicon Valley Bank's shutdown
  • The closure of the bank comes months after Signature said it would be reducing its exposure to the crypto sector
Geostrategy

UAE FM welcomes China-brokered Saudi-Iran pact to resume ties

Abu Dhabi, UAE--Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation has made a phone call...
  • Al Nahyan highlighted the importance of the agreement and its role in achieving stability in the region and meeting the aspirations of their peoples for development and prosperity
  • The UAE minister applauded the role of China in bringing about the resumption of Saudi-Iranian diplomatic relations that had remained broken for about seven years
Business

Indonesia holds two-day event in Dubai to lure investment

Dubai, UAE--The Indonesian Investment Forum kicked off in Dubai to lure businesses and investments. The two-day event aimed to explore...
  • The Dubai event will explore opportunities to lure foreign direct investment and widen markets for export products
  • Bank Indonesia in collaboration with KJRI Dubai, the Indonesian Embassy in Abu Dhabi and many others hosted the event
Business

TAQA Morocco to invest US$1.6bn in renewable energy solutions

Dubai, UAE--TAQA Morocco is looking to invest $1.6 billion in renewable energy solutions in Morocco in order to lift up...
  • The company, owned by Abu Dhabi National Energy Co., is looking to diversify its activities in clean energy and water desalination as part of its new strategy.
  • The firm aiming to increase its production capacity of electricity from renewable sources by 1,000 megawatts will cut the carbon footprint by 25 percent
Business

Serco unveils Saudi space unit

Saudi Arabia aims to gain a leadership role in space.
  • Serco will look to hire in Saudi Arabia, offering training and career development programs, besides building capacity
  • Amar Vora, according to the company press release, has been appointed to lead the space team in the kingdom
Business

Fraudsters prowl digital world, robbing unwary people in Middle East

Dubai, UAE-- Making payments digitally for every purchase may have become a universal thing, but it is not always the...
  • According to the survey, the majority of users (92%) lost up to $1,000 as a result of these incidents, while (8%)of the respondents reported a loss of more than $1,000
  • In the Middle East alone, the company blocked more than 1.8 million financial threats and out of them 256,708 in the United Arab Emirates

Iran oil minister blames Israel for gas pipeline sabotage

Tehran, Iran--Iran said Wednesday that Israel was behind twin sabotage attacks against gas pipelines that disrupted supplies in at least...
Geostrategy

Company News

Latest News

Bahrain’s BIBF partners with UpGradelle to boost digital transformation

Manama, UAE--The Bahrain Institute of Banking and Finance (BIBF) has partnered with UpGradelle, a leading French-based consultancy firm, to develop...
Business

Masdar and Emirates Steel Arkan partner to build green project to cut emissions

Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) has signed an agreement with Emirates Steel Arkan to develop a pioneering...
Business

Dubai International Chamber wins over 92 businesses in first 9 months of 2023

Dubai, UAE--Dubai International Chamber has attracted a total of 92 businesses, including 15 multinational companies and 77 SMEs, to the...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

Iran and Russia to speed up railway project along Caspian Sea

Tehran, Iran--Iran will begin construction work on joint railway projects with Russia as part of the International North-South Transport Corridor...
  • The two countries consider the 162 km railway line along the Caspian Sea shoreline as a crucial component of the International North-South Transport Corridor
  • The Iranian first vice president said the design proposals and contracts for the Astara-Bandar Abbas railway have also been reviewed by both the Islamic republic of Iran and Russia
Business

Oman LNG signs sale-and-purchase agreement with BP to deliver gas

Muscat, Oman--Oman LNG has entered into a sale-and-purchase agreement (SPA) with BP to deliver a total of 1 million metric...
  • The new agreement comes on the back of many SPAs signed between the two companies in the recent past to supply energy from Oman
  • Oman LNG said the company is not just a reliable gas supplier but it contributes to global energy security and adds value to the local economy
Business

ADNOC and Santos sign agreement to build joint platform for net-zero goals

Abu Dhabi, UAE--ADNOC and Santos have signed a strategic collaboration agreement (SCA) to build a joint global-carbon-management platform that could...
  • The agreement will allow companies to advance critical carbon capture and storage (CCS) technologies required to speed up the decarbonisation
  • They will look to ramp up the carbon management technologies of the future in order to safely transport, capture and store carbon, helping markets to decarbonise