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.

Dubai receives 1.77m international tourists in January this year

Dubai, UAE--Dubai welcomed 1.77 million international tourists in January 2024, an increase of 21% compared to 1.47 million visitors in...

Business

Israeli air strikes in Lebanon’s city of Baalbek kill one

A security source said Israeli aircraft targeted a former Hizbollah building near Dar Al Amal Hospital, adding that Israel "conducted...

Geostrategy
Business

Saudi Fund for Development and Seychelles sign US$25m loan agreements

Riyadh, Saudi Arabia-- The Saudi Fund for Development (SFD) has signed two loan agreements with Seychelles to support the social...
  • The SFD will contribute $25 million to support the social housing project in the Seychelles and the reconstruction of La Digue School project
  • The fund has so far implemented 700 development projects and programs in more than 90 countries with a value surpassing $18.7 billion
Business

Qatar and Libya sign MoU to boost cooperation in civil aviation

Tripoli, Libya-- Qatar and Libya have signed a memorandum of understanding (MoU) to boost cooperation in the field of civil...
  • The MoU is a component of joint efforts by the two countries to deepen bilateral relations in the aviation sector
  • It is also designed to enhance ways of cooperation in the field of security and safety, and exchanging experiences
Geostrategy

UAE Council review cybersecurity in Jordan summit

Amman, Jordan - The UAE Cyber Security Council discussed cybersecurity in the inaugural Jordan Cyber Security Summit 2023, known as...
  • The DOT Cyber Summit 2023 explored issues related to cyber policies and strategies, international issues related to cyber risks and threats faced by countries.
  • This includes mechanisms for addressing and combating their spread, and reviewing the experiences of countries and their progress in the field of cyber security.
Arts & Culture

Producer Baz Luhrmann to be head of jury at Red Sea International Film Festival 2023  

JEDDAH, SAUDI ARABIA - The Red Sea International Film Festival has said that internationally renowned writer, director and producer Baz...
  • The festival's third edition will take place from November 30 to December 9 in Jeddah.
  • The event will showcase movies from filmmakers from the Arab region, Asia and Africa.
Business

Red Sea Global teams up with Bear Grylls Survival Academy

Riyadh, Saudi Arabia--Red Sea Global (RSG) will become the exclusive agent for Bear Grylls Survival Academy (BGSA) bringing the world-famous...
  • The collaboration between the two promises to offer outdoor enthusiasts the opportunity to learn key team building, wilderness education and survival skills
  • Red Sea Global looks to recurit and train local outdoor enthusiasts in the art of survival and expedition leadership, creating hundreds of jobs for Saudis
Business

Iran exports goods worth US$9.1bn to BRICS nations from March to August

Tehran, Iran--Iran has exported 27.7 million tons of goods worth $9.1 billion to BRICS member countries from March 21-August 21,...
  • Some 70.3 million tons of non-oil goods worth $43.5 billion were traded between Iran and the rest of the world during the same period
  • The top five export destinations for Iran's non-oil goods were China ($5.6bn), the UAE ($2.3bn), India ($845m), Russia (361m) and S. Africa ($51.5m)
Business

QatarEnergy signs US$3.90bn deal with HD Hyundai to build LNG carriers

Seoul, South Korea--QatarEnergy has signed US$3.90 billion worth agreement with Korea's HD Hyundai Heavy Industries (HHI) for the construction of...
  • The agreement with the South Korean firm marks the start of the second phase of QatarEnergy's LNG ship acquisition program
  • QatarEnergy's ship-building program is the largest of its kind and will play a pivotal role in meeting its future shipping requirements
Business

Masdar and PLN NP to triple size of Southeast Asia’s largest floating solar plant

Abu Dhabi, UAE--Masdar and PLN Nusantara Power (PLN NP) have signed an agreement to develop Phase II of the successful...
  • The clean energy partnership between the UAE and Indonesia saw further consolidation when the two companies signed the deal to expand FPV plant
  • The UAE company has developed the region’s largest floating solar facility, the 145 MW Cirata floating solar PV plant in a joint ventre with PT PJB, now PLN NP
Business

Vitronic signs contracts in MENA

The contracts to install traffic systems are worth US$211m.
  • Vitronic Middle East will install over 2,000 "cutting-edge traffic enforcement systems in high-risk areas" over the next few months.
  • It said In a statement that traffic management and enforcement systems provide benefits that go beyond the daily lives of individuals
Business

Iran to sign long-term contract with India on Chabahar Port

Tehran, Iran-- Iran will sign a long-term contract with India to develop Chabahar Port, according to the Islamic republic's minister...
  • The Iranian minister said that a long-term contract to operationalize Chabahar Port will be signed with India in the near future
  • He said that in order to develop the country's transit, it is important to develop north-south corridors with a rail connection

Dubai receives 1.77m international tourists in January this year

Dubai, UAE--Dubai welcomed 1.77 million international tourists in January 2024, an increase of 21% compared to 1.47 million visitors in...
Business

Company News

Boursa Kuwait, Tadawul sign pact

Bank of China lists $300m bonds

Jarir reports drop in H1 profit

Google buys $1bn London office

Latest News

GCC banks to maintain resilience in 2024, says S&P Global

Abu Dhabi, UAE--Despite geopolitical uncertainties and potential economic headwinds, S&P Global expects GCC banks to maintain their well-capitalised, profitable, and...
Business

GCC central banks mimic Fed, hold interest rates steady

Abu Dhabi, UAE--In a significant move that underscores the interconnectedness of global monetary policies, central banks across the Gulf Cooperation...
Economy

Air cargo demand rebounds in 2023 amid economic uncertainty

Geneva, Switzerland-- Air cargo demand rebounded in 2023 with a particularly strong fourth quarter performance despite economic uncertainties, according to...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

DFM net profit climbs 124 percent

Its board has proposed a cash dividend of US$76.24m.
  • The upswing in profit was propelled by a significant uptick in trading activities, capital inflow and a notable influx of new investors
  • The bourse consolidated its status as a premier market for IPOs, with the listing of Dubai Taxi Company and Al Ansari Financial Services
Business

UAE and UK seek to boost economic cooperation

Abu Dhabi, UAE-- Looking to enhance economic ties between the UAE and the United Kingdom, Abdulla bin Touq Al Marri,...
  • The discussions to boost trade ties took place during a UAE delegation's visit to the UK to participate in Investopia London, to be held on January 31, 2024
  • The UAE minister said the relations between the two countries serve as a prime example for advanced strategic ties and exceptional economic partnership
Business

KEZAD to build new warehouses

It will invest US$169m to develop new capacity.
  • The building of new warehousing was spurred by strong demand for such capacity in both free zone and domestic industrial areas
  • The group since the third quarter of 2022 has thrown open more than 270,000 sq metres of additional warehousing space in Abu Dhabi