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.

UAE records more than 25% growth in international card spending in 2023

Dubai, UAE--Total spending using international cards in the UAE witnessed a growth of more than 25% during the year 2023....

Business

UAE and Greece hold talks to widen economic cooperation

Athens, Greece-- The UAE and Greece have held talks in Athens on a wide range of economic and strategic issues...

Economy
Business

Spire Technologies secures banking license from Central Bank of Bahrain

Manama, Bahrain--Spire Technologies has obtained licenses from the Central Bank of Bahrain (CBB), authorizing it to operate as a fully...
  • The banking fintech seeks to contribute to the growth of the digitally-led national financial ecosystem and widen its presence in the region
  • It intends to provide users with full agency over business cashflows, offering a rich user experience as well as faster, secure payments
Economy

UAE and Serbia hold discussions on signing of CEPA

In order to boost trade and investment flows and private-sector collaboration, the UAE and Serbia have begun talks on Comprehensive...
  • The bilateral non-oil trade in H1 reached US$57.6 million, surpassing the total recorded for the whole of 2020
  • Until now, the UAE has successfully concluded CEPAs with India, Indonesia, Israel, Türkiye, Cambodia and Georgia
Economy

Oman annual inflation inches up 0.82 percent in August

Muscat, Oman--Annual inflation of Oman has shot up 0.82 percent in August as against 2.4 percent in the same month...
  • Food prices were also up with an 11.65 percent hike in fish and seafood, an 8.87 percent increase in dairy and egg prices and a 5.5 percent uptick in vegetable costs
  • The cost of household furnishings and routine maintenance went up by 2.63 percent, miscellaneous goods and services by 2.61 percent, dining and lodging by 2.46 percent
Business

Emirates Health Services to adopt AI technology to boost hospital care services

Dubai, UAE-- Emirates Health Services will employ AI technology in the application of patient room monitoring system to further enhance...
  • The partnership will leverage generative AI and implement the care.ai system across EHS healthcare facilities
  • It will monitor the mental well-being of the patients, as well as help prevent and control infections and assess hygiene conditions
Economy

Climate action an opportunity to create more equitable world: Almheiri

Dubai, UAE-- Terming climate action as an opportunity to create a more equitable and sustainable world, Mariam bint Mohammed Almheiri,...
  • The minister said the UAE believes that science, innovation and technology are the tools humanity needs to drive collective progress on climate action
  • Almheiri asserted that COP28 is a chance to turn the world’s collective focus to conclude the first Global Stocktake of the Paris Agreement
Geostrategy

Jordan’s interconnection projects to serve as hub for energy exchange

AMMAN, JORDAN -The Kingdom’s Ministry of Energy and Mineral Resources has emphasized the significance of current and upcoming electrical interconnection...
  • Jordanian authorities are working on a project to connect the Kingdom’s Risha electrical station to Iraq's Rutba station.
  • The interconnection line will allow the Iraqis to power the Rutba area's loads, using the Jordanian grid.
Economy

Iran and Cuba to set up joint ‘technology and innovation’ center

Tehran, Iran-- Iran and Cuba are looking to to set up a joint technology and innovation center to promote cooperation...
  • The two countries apart from boosting economic ties are keen to develop mutual cooperation in the fields of science and technology
  • Cuba is planning to hold an exhibition in 2024 and has invited Iranian knowledge-based companies to showcase their latest achievements
Business

DEWA embraces Microsoft’s Copilot to drive digital transformation

Dubai, UAE--Dubai Electricity and Water Authority (DEWA) has adopted Microsoft Power Platform and its AI-powered tool Copilot to build smart...
  • In order to benefit from the capabilities of generative AI, DEWA is looking to utilize the latest global technologies in all areas to enhance its digital transformation
  • Microsoft's Copilot will assist software developers at DEWA in building smart programs and applications that support DEWA’s operations more smoothly
Economy

S&P confirms Saudi Arabia’s credit rating at A/A-1 amid reforms

Riyadh, Saudi Arabia--Standard & Poor’s (S&P) has confirmed Saudi Arabia’s credit rating, both in local and foreign currency, as “A/A-1”...
  • The agency gave a stable rating in the wake of the kingdom's ongoing initiatives to carry out significant reforms and achieve structural improvements
  • The kingdom's growth, according to S&P, will increase at a rate of 3.4% between 2024 and 2026 mainly due to the anticipated rise in oil demand
Economy

IMF to exhort China to shift growth model toward consumption

Washington, US--The International Monetary Fund plans to tell China to boost weak domestic consumption, address its troubled real estate sector,...
  • The IMF intends to exhort Beijing to shift its growth model away from debt-fueled infrastructure investment and real estate
  • In July the IMF forecast China's 2023 growth rate to hover at 5.2% and 4.5% in 2024 but warned it could be lower

UAE records more than 25% growth in international card spending in 2023

Dubai, UAE--Total spending using international cards in the UAE witnessed a growth of more than 25% during the year 2023....
Business

Company News

Latest News

Ghitha 2023 revenue at $1.2bn

Ghitha reported an operating profit of $69 million in 2023.
Business

AD Ports launches Noatum Logistics Middle East

The firm said the new brand will replace MiCCO Logistics.
Business

Iran and Turkey to set up free trade zone at border in Khoy city

Tehran, Iran--Iran and Turkey will join hands to set up a free trade zone at the border crossing in Khoy...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Aldrees Petroleum to hike capital by 33%

The company's capital now stands at US$266 milion.
  • The company's board took the decision a few days back, expected to enhance its financial robustness and propelling it towards future expansions
  • The hike in capitalization has been secured from the retained earnings, reflecting the company's strong financial standing and prudent management
Economy

Egypt’s wheat and oil reserves sufficient for several months, says minister

Cairo, Egypt-- Egypt has enough reserves of wheat to last it for many months, according to Dr. Ali Al-Moselhi, the...
  • The minister said that 100 tonnes of sugar have been produced from the cane crop so far, and that preparations are underway to receive the beet crop in mid-March
  • The country purchases around five million tonnes of wheat annually from abroad, and subsidised bread is available to more than 70 million of its 104 million population
Business

Qatar and Nepal discuss boosting economic cooperation

Doha, Qatar--Qatar and Nepal have held talks to enhance commercial and economic relations between the two countries, explored the investment...
  • The talks are likely to pave way for more cooperation and partnership between the Qatari and Nepalese private sectors
  • The Qatar official emphasized the importance of holding trade and business visits between both sides to explore cooperation