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.

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...

Economy

Qatar and Egypt hold talks to ramp up civil aviation cooperation

Cairo, Egypt-- Qatar and Egypt have discussed enhancing ties in the field of civil aviation between the two countries. In...

Business
Geostrategy

Saudi Arabia and Indonesia discuss defense and military cooperation

Jakarta, Indonesia-- Saudi Arabia and Indonesia have discussed defense and military cooperation in a meeting between Indonesian Minister of Defense...
  • The two ministers discussed bilateral relations and military and defense cooperation, as well as other issues of common concern
  • The Saudi defense minister also met with heads of Indonesian defense companies who presented their latests defense products
Economy

Jordan and Cyprus to deepen energy, trade, tourism ties

Amman, Jordan-- Jordan and Cyprus are looking to boost cooperation in energy, trade, industry and tourism sectors in order to...
  • Jordan's king and Cyprus president met at Al Husseiniya Palace, and discussed enhancing cooperation in various fields
  • The king underscored the need to strengthen bilateral relations and cooperation, especially in energy, trade, industry, tourism
Economy

Jordan sees surge of investments to US$844.8m in first half of 2023

Amman, Jordan--Jordan’s economy has seen a 47.6 percent increase in investments in the first half of 2023, according to data...
  • According to data, Jordan's aggregate investments amounted to $844.8 million in the first six months of the year, up from $571 million
  • The results come close on the heels of the government's initiative to set up a plan to lure new funding streams and boost current ones
Business

Inma Holding profit tumbles

Its net profit fell 53.8% in H1 of 2023 to US$0.92m.
  • Its earnings per share(EPS) declined to reach QR 0.059 as of 30th June 2023 versus EPS QR 0.128 for the same period in 2023
  • The company posted a 61.7% jump in net profit in 2022, reaching $2.69 million in comparison to a net profit of $1.67 million
Economy

UAE’s real estate market remains strong in the first half of 2023: CBRE

Dubai, UAE--The UAE's real estate market has recorded a strong performance across all sectors in the first half of the...
  • According to the CBRE report, the sector has benefitted from an expansion in the country's non-oil economy
  • The report added that industrial and logistics sector has seen relatively strong levels of activity during the period
Economy

In Asia expansion push, Masdar to develop 2GW clean energy in Malaysia

Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) and Citaglobal Berhad have signed a memorandum of understanding (MoU) for developing...
  • The two companies will join hands to build projects across the renewable energy mix in the picturesque Malaysian state of Pahang
  • Masdar sees Southeast Asia as a key investment destination, where it has already built the region's biggest floating solar facility in Indonesia
Economy

Oman inflation spikes 2.8% in 2022, pushing up food prices

Muscat, Oman-- Oman's inflation rate increased by 2.8 percent in 2022 as the consumers price index (CPI) registered 109.7 points...
  • Food and non-alcoholic beverages prices went up by 5.2 percent, and housing, water, electricity, gas and other fuels also rose 1.1 percent
  • The steepest increase was in the prices of oil and gas products, registering a growth of 44.1 percent, with non-oil products rising 3.8 percent
Business

KPC posts bumper profits

The oil firm and its subsidiaries posted a net profit of US$8.4bn.
  • The oil company's CEO Sheikh Nawaf Saud Al-Sabah said that the profits were the highest in the past ten years
  • He added that results were driven by the country's success in running new projects that raised output of crude oil
Business

Boursa Kuwait profit declines

It fell to US$25.6 million in H1 of 2023, a 21.4 percent drop.
  • The stock exchange in a statement said that lower trading activity was responsible for the decline in the net profit
  • Its Chairman Hamad Al-Humaidhi said that the bourse showed "remarkable resilience in adapting to market fluctuations"
Business

Ooredoo posts 20% profit rise

The net profit surged to US$493 million in the first half of 2023.
  • It attributed the results to strong revenue growth, free cash flow, increased customer base and a lower CAPEX spend
  • The company's earnings per share amounted to QR 0.56 as of June 30, 2023 versus earnings per share (EPS) QR 0.47 last year

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...
Economy

Company News

Latest News

UAE, Saudi Arabia lift up Arab stock markets, post US$493bn in gains in 2023

Abu Dhabi, UAE-- Stock markets across the Middle East posted record highs in 2023, with combined gains of $493 billion,...
Business

DP World signs MoUs in India

The agreements worth US$3bn were signed with Gujarat.
Business

Global air travel reaches 99% of 2019 levels: IATA

IATA’s Director-General Willie Walsh said that international travel is 5.5% below pre-pandemic levels, but that gap is narrowing fast. "And...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

UAE and Azerbaijan presidents pledge to boost ties

Baku, Azerbaijan-- The UAE and Azerbaijan have discussed ways to enhance cooperation in renewable energy, environmental protection, culture, education, and...
  • The two countries resolved to ramp up ties in economics, development, renewable energy, environmental protection, culture, education, and other areas
  • The meeting between the two presidents also addressed the upcoming UN Climate Change Conference (COP29) to be hosted by Azerbaijan this year
Business

Dubai’s RERA signs MoU with Zand Digital Bank

Dubai, UAE--The Real Estate Regulatory Agency (RERA), the regulatory arm of Dubai Land Department (DLD), signed a memorandum of understanding...
  • The bank has been authorized by DLD to oversee real estate development escrow accounts and offer associated services
  • The chief aim of the escrow account is to streamline the construction process for off-plan units, safeguarding the interests of investors
Business

Aldar to invest US$272m in logistics

The developer will expand business in Dubai, Abu Dhabi.
  • It will acquire assets and develop ready-to-lease and build-to-suit options in response to strong demand for grade A logistics facilities
  • In Dubai, Aldar has bought 7 central logistics hubs and an adjacent plot, which will almost double the current gross leasable area of 19,000 sqm