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.

Omantel approves cash dividend

Net profit grew by 13.1 percent compared to 2022

Business

Arab Bank for Economic Development in Africa expects financing to touch US$2.5bn

Abu Dhabi, UAE--The Arab Bank for Economic Development in Africa (BADEA) expects the bank's annual financing to reach US$2.5 billion...

Economy
Business

QIIB lists sukuk on London Stock Exchange

The sustainable sukuk is worth US$500 million.
  • The sukuk drew investors from the GCC, the Middle East, Europe, Asia and America
  • According to a bank's statement, the issue was oversubscribed more than eight times
Economy

Bahrain and Slovakia to ramp up cooperation in urban planning

Manama, Bahrain-- Bahrain and Slovakia are looking to ramp up the ongoing cooperation in urban planning and sustainable development. In...
  • The CEO of UPDA lay emphasis on the need for exchanging expertise and technologies in the field of urban development
  • Al Khayat apprised the delegation about UPDA’s role in overseeing the policy of sustainable urban planning in the kingdom
Business

Google to invest US$1bn in UK data centre

It will meet growing demand for internet services in the region.
  • The site for the centre, bought by Google in 2020, will be located in the town of Waltham Cross, about 15 miles north of central London
  • The UK government pushing for investment to help fund new infrastructure, termed Google's investment as a "huge vote of confidence"
Business

Dubai World Trade Centre to host Japan trade exhibition next week

Dubai, UAE--The first edition of the Japan Kyoto Trade Exhibition 2024 is all set to kick off this Monday, 22nd...
  • The event is expected to attract around 20,000 visitors, and more than 100 Japanese exhibitors
  • The exhibitors will represent a diverse range of industrial sectors, like technology and animation
Business

Sharjah Islamic Bank profit surges

It posted a 31% jump in net profit to US$229.13m in 2023.
  • The bank's operating profits also recorded a 23 percent rise, reaching $554 million for 2023, up from $435 million in 2022
  • Its board of directors has proposed a 10 percent cash dividend, subject to approval at the upcoming general assembly meeting
Business

Oman Investment Authority launches fund worth US$5.19 billion

Muscat, Oman--The Oman Investment Authority (OIA) has unveiled a new fund called “Future Fund Oman” valued at US$5.19 billion. The...
  • The fund, according to Oman News Agency, has a capital of $5.19bn to be utilised over five years, with $1bn every year
  • It will allocate 90 percent of its capital to invest in new or existing investment projects that prove to be economically viable
Economy

China’s economy to grow steadily in 2024, say analysts

Beijing, China--China's economy is likely to pick up the pace and grow steadily in 2024 after a bumpy recovery last...
  • Many experts believe that China needs to set an annual GDP growth target of around 5 percent to boost business confidence
  • The Chinese economy grew 5.2% in the fourth quarter of 2023 year-on-year, following a 4.9% growth in the third quarter
Business

Sharjah Chamber discusses collaboration with AAAID on trade, investment

Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) has held discussions with the Arab Authority for Agricultural Investment and...
  • The discussions centered upon supporting business community and developing the agricultural sector and fostering trade and investment
  • The two sides discussed initiatives in creating a conducive business environment for innovation and investment in the agricultural sector
World Economic Forum

World Economic Forum foresees ‘significant economic slowdown’

Davos, Switzerland--A new World Economic Forum report titled the Future of Growth Report 2024 foresees a significant economic slowdown, estimated...
  • The WEF report offers a re-evaluation of global economic growth, introducing a new framework that takes a holistic look at GDP
  • The report adds that high income economies in 2023 saw average annual GDP per capita growth of 1.01% over the past five years
Business

Qatar Islamic Bank profit up

It posted a 7.5% jump in net profit to US$1.18bn last year.
  • The bank's basic earnings per share for the year 2023 are QAR 1.73 compared to QAR 1.62 for 2022
  • Its board of directors proposed a dividend distribution to shareholders of QAR 0.725 per share

Omantel approves cash dividend

Net profit grew by 13.1 percent compared to 2022
Business

Company News

Aramex Q3 net profit down

Yahsat net profit up

Agthia Group revenue soars

Ooredoo net profit up

Burjeel Holdings profit surges

Latest News

UAE ministry of defense, Masdar to set up solar plants in Abu Dhabi

Abu Dhabi, UAE--The UAE Ministry of Defence and Masdar have signed an agreement to develop multi-solar plants across Abu Dhabi....
Economy

Saudi tech show LEAP 2024 to close on ‘record-breaking’ note

Riyadh, Saudi Arabia--The biggest tech show in the Middle East, LEAP 2024, hosted by Saudi Arabia in Riyadh, is preparing...
Business

European tourists make a beeline for Sharjah as 400,000 visit in 2023

Sharjah, UAE-- Nearly 400,000 visitors from Europe have traveled to Sharjah during last year, marking a notable 28 percent increase...
Economy
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INSEAD Day 4- 300x600

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Economy

Qatar Central Bank head calls for enhanced GCC action to tackle challenges

Doha, Qatar--Governor of Qatar Central Bank Sheikh Bandar bin Mohammed bin Saoud Al-Thani has called for strengthening joint action among...
  • Al-Thani exhorted the GCC to boost efforts to fight off financial challenges in relation to growth, sustainable development, financial stability, and interest rate
  • He applauded the GCC for great achievements registered during the last few years, which contributed to the advancement and prosperity of the region
Business

FAB shareholders approve dividend

The 50% cash dividend would be to the tune of US$2.12bn.
  • The annual meeting commended the bank's three consecutive years of accelerated business momentum, and its strong platform for future growth
  • The bank's CEO said that FAB achieved a record net profit of $4.46bn and $7.56bn in revenue in 2023, fueled by growth across all core businesses
Business

ADNOC partners with Viola Communications

They will utilize outdoor media-leasing spaces for advertising.
  • Viola will set up and operate outdoor media advertising solutions on ADNOC assets in strategic locations across the capital
  • The company's diverse assets are expected to boost the local business ecosystem and introduce innovative revenue streams