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.

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

ADNOC partners with Viola Communications

They will utilize outdoor media-leasing spaces for advertising.

Business
Business

Dubai Municipality parks attract more than 15m visitors in H1

Dubai, UAE-- More than 15 million people visited Dubai Municipality public parks, neighborhood parks, lakes, and recreational facilities for the...
  • The record-breaking trend marks a 50 percent increase in the same period of 2022, which recorded approximately 10 million visitors
  • The spike in the number of visitors to the parks and other recreational facilities is made possible by their location and ease of access
Business

Black Cobra signs MoU with NFFSP to make military footwear in MENA region

Abu Dhabi, UAE--Black Cobra Military Supplies (BCMS) and the National Factory for Safety and Security Products (NFFSP) have signed a...
  • Aided by the Emirates Defence Companies Council (EDCC), the MoU looks to offer a sustainable platform that supports the strategic goals of the two companies
  • NFFSP's CEO said the agreement will enable the two companies to produce modern, high-quality items "that fulfill the needs of the region's military and security forces"
Business

Saudi Arabia organizes trade mission to Japan to drive non-oil exports

Riyadh, Saudi Arabia--The Saudi Export Development Authority organized a trade mission to Japan under the theme of "Saudi Made" in...
  • The Saudi Export Development Authority's initiative to organize the campaign in Japan is designed to boost non-oil Saudi exports
  • The kingdom's non-oil exports to Japan totaled $438 billion over the past five years (2018-2022), including $99.20 billion last year
Business

Aramex profit plunges 53%

Its net profit for H1 of 2023 stood at US$11.70 million.
  • The company's revenue was $762 million in the first half of 2023, a five percent decline year-on-year
  • International Express business reported $101 million in gross profit for H1 2023, a YoY increase of 1%.
Geostrategy

West must keep ‘promises’ on Ukraine grain deal: Erdogan

Ankara, Turkey--Turkish President Recep Tayyip Erdogan said Tuesday that the revival of a deal with Russia to allow Ukrainian grain...
  • Erdogan played a key role in the now collapsed deal allowing for safe passage of Ukrainian grain shipments via the Black Sea
  • The accord, brokered by Ankara and the United Nations in July 2022, ended last month after President Vladimir Putin refused to extend it
Geostrategy

Russia to continue to enhance military cooperation with Iran: Ryabkov

Tehran, Iran-- In a defiant posture toward the West, Russia has declared that it will continue to enhance military cooperation...
  • The Russian minister said that they have full right to develop and enhance the military ties between the two "friendly nations"
  • He further noted that Iran will in due time become a full member of BRICS even as he refused to give a timeline for its membership   
Business

Oman Air approves restructuring program to lower rising debt

Muscat, Oman--Looking to address its mounting debt, Oman Air has backed a restructuring program to reduce its losses by 15...
  • In the month of May, the airline said it will reduce its net loss by a further 56 percent in 2023, compared to a reduction of 35 percent in 2022
  • Its chairman said the program stands on four pillars: financial sustainability, corporate governance, commercial factors, and human capital
Business

Sharjah Chamber and FDI Office discuss ways to promote real estate sector

Sharjah, UAE--The Real Estates Sector Business Group has discussed with the Sharjah FDI Office (Invest in Sharjah) ways to promote...
  • The discussion centered on how the sector can benefit from the Sharjah FDI Office's expertise to promote real estate ventures in the emirate
  • Sharjah Chamber noted the remarkable growth in the sector, emphasizing how real estate is acting as a backbone to the emirate's economic prosperity
Business

Zain Group profit jumps 14%

Its net profit for Q2of 2023 rose to US$187m.
  • The company during the period also received a first-ever cash dividend of $42 million from Zain KSA
  • For H1 the group generated consolidated revenue of $3.03 billion, an increase of 12% YoY
Business

ADQ ties up with Dutch firm to set up greenhouse at AgTech Park in KEZAD

Abu Dhabi, UAE-- In a boost to the UAE's effort to secure self-sufficiency in the food sector, ADQ has partnered...
  • The facility operating under a cooling system that reduces carbon and water footprint will enable the year-round cultivation of tomatoes and cucumbers
  • The Dutch firm's experts will work with local agronomists to encourage the development of technology adapted to the local climate and growing conditions

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

Company News

Latest News

Top economists warn global economy will weaken in 2024

Davos-Klosters, Switzerland--Global economic prospects remain subdued and fraught with uncertainty, according to the latest Chief Economists Outlook released today, as...
World Economic Forum

Qatar Chamber and CzechTrade look to boost trade cooperation

Doha, Qatar--Qatar and Czech Republic are looking to ramp up trade and investment cooperation between the two countries. In this...
Business

DEWA unveils new distribution substations

It commissioned 1,414 substations of 11kv in Dubai.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

ADQ, ADNEC to buy stake in TMG

The two will acquire 40.5% stake in the Egyptian firm.
  • The two firms will invest through a special purpose vehicle, with 49 percent equity ownership by ADQ and 51 percent equity ownership by ADNEC
  • The buying of a stake represents a major foreign direct investment in Egypt and marks a strong vote of investor confidence in the Egyptian tourism and hospitality sector
Geostrategy

Saudi Arabia launches documentary Horizon on wildlife  

RIYADH, SAUDI ARABIA - Konoz, an initiative of the Ministry of Media's Center for Government Communication (CGC), has released a...
  • The documentary is currently being shown on the Netflix platform.
  • The film gives a look at the ecological diversity of the Kingdom,
Business

Sharjah, Sfax chambers look to boost ties between UAE and Tunisia

Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and the Chamber of Commerce and Industry of Sfax, Tunisia, held...
  • The talks centered upon holding joint events and improving coordination to encourage businessmen to participate in exhibitions
  • The Sharjah Chamber received an invitation from the Tunisian side to participate in an exhibition at the Sfax International Fair