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.

ADNOC partners with Viola Communications

They will utilize outdoor media-leasing spaces for advertising.

Business

UAE vital to enhancing global economic growth: Officials

Abu Dhabi, UAE-- The UAE has expanded its network of trading partners around the world through comprehensive economic partnerships, contributing...

Economy
Economy

UAE’s digital platform, U.AE, attracts 9.1m visitors in H1

Dubai, UAE-- Around 9.1 million people visited the UAE’s Government Unified Digital Platform, U.AE, from the start of 2023 until...
  • The rise in the average number of pages viewed was 3.52%, compared to the same period last year, according to TDRA
  • TDRA recently launched the generative AI-supported version of the digital platform, allowing users to obtain government services
Economy

GCC central banks follow Fed in raising key rates

The decision by the central banks, in the US and most of the Middle East, to hike interest rates are...
  • The UAE's central bank raised the base rate applicable to the overnight deposit facility (ODF) by 25 basis points – from 5.15 to 5.40 percent
  • The decision to raise key rates comes as central banks across the world struggle with the challenge of controlling inflationary pressures
Business

Masdar, Iberdrola to invest in US$1.77bn German wind farm

The UAE's firm signed an agreement with Iberdrola to co-invest in the 476-megawatt Baltic Eagle offshore wind farm in the...
  • Masdar's CEO Mohamed Jameel Al Ramahi and Iberdrola's Executive Chairman Ignacio Galan signed the deal
  • For close to seven years now Masdar has revolutionized the clean energy sector in the UAE, and beyond
Business

QIIB profit climbs 7.7 percent

Its net profit for H1 of 2023 jumped to US$169 million.
  • The bank's earnings per share (EPS) amounted to QR 0.41 as of June 30, 2023 versus EPS QR 0.38 for the same period in 2022.
  • Chairman of QIIB's board of directors said that the results posted by the bank are in harmony with the strength of the Qatari economy
Economy

Qatar Free Zones Authority, Qatar Development Bank to support foreign investors

Doha, Qatar-- The Qatar Free Zones Authority has joined hands with Qatar Development Bank to support foreign investors and firms...
  • The agreement will enable both to widen the areas of cooperation to serve companies investing in free zones, allowing them to use a variety of services
  • The partnership is expected to create a suitable investment climate in Qatar and at the same time provide support to investors to achieve growth in businesses
Business

Sharjah Sustainable City sales surge

The sales in H1 of 2023 climbed on the back of high demand.
  • The sales were seen to be driven by a deep understanding of the UAE real estate market, offering residents a unique and exclusive experience
  • Sharjah Sustainable City offers the best of both worlds to customers with unique designs, spacious layouts, and cutting-edge smart home technologies
Economy

Jordan and Iraqi PMs renew pledge to boost economic ties

Baghdad, Iraq-- Jordan and Iraq have renewed pledge to strengthen economic cooperation in a meeting between the kingdom's Prime Minister...
  • The two prime ministers resolved to boost volume of trade exchange, expanding cooperation in the economic, trade and investment fields
  • They also lay stress on ramping up cooperation in the field of energy, completion of the electrical interconnection project between the two countries
Business

KNPC exports first shipment of 95 octane motor fuel to Europe

Kuwait City, Kuwait--The Kuwait National Petroleum Company (KNPC) has exported the first shipment of 95 octane motor fuel and low-sulfur...
  • The deputy CEO of the company said that the first shipment was loaded on board the oil tanker Pacific Sarah from Mina Al-Ahmadi
  • He said the shipment was dispatched in close cooperation and coordination with Kuwait Petroleum Corporation's international marketing sector
Economy

COP28 urges governments to make ‘food systems’ central to climate change

Dubai, UAE-- Calling on governments around the world to demonstrate leadership by signing the "Leaders Declaration on Food Systems, Agriculture...
  • The presidency exhorted stakeholders in the food and agriculture sectors to speed up existing initiatives across food systems, agriculture, and climate action
  • It also pleaded for action to ramp up innovation in the sectors in order to drive both development and climate action, leveraging mechanisms
Business

Saudia Cargo signs deal with Jan de Rijk

It will enable Saudia Cargo to widen network in Europe.
  • As per the terms of the deal, Saudia Cargo will use Jan de Rijk's extensive trucking network to shore up its operations in Europe
  • Set up in 1971, Jan de Rijk Co, is a leading provider of European transportation, distribution services, and supply chain management solutions

ADNOC partners with Viola Communications

They will utilize outdoor media-leasing spaces for advertising.
Business

Company News

Latest News

Aldar to invest US$272m in logistics

The developer will expand business in Dubai, Abu Dhabi.
Business

GCC head and EU top diplomat review relations in Riyadh

Riyadh, Saudi Arabia--Jasem Mohamed Al Budaiwi, Secretary General of the Gulf Cooperation Council (GCC), and Josep Borrell, High Representative of...
Geostrategy

CBB Sukuk Al Salam securities oversubscribed by 372%

Manama, Bahrain--The Central Bank of Bahrain (CBB) announced that the monthly issue of the Sukuk Al Salam Islamic securities has...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Alumicor to set up base in Bahrain

It will help the kingdom in the processing of aluminum.
  • The collaboration will bring cutting-edge technologies to Bahrain, offering local manufacturers’ opportunities to enhance operational efficiency
  • Alumicor's facility is expected to create new job opportunities for Bahraini professionals, including in senior executive and administrative roles
Business

Shanghai to build 200 smart factories to shore up its manufacturing status

Shanghai, China--Shanghai plans to build 200 new smart factories and 20 demonstration sites by end of 2025 after 70 intelligent...
  • The city as China's largest smart-solutions provider and a core equipment hub sees such innovation as vital for industrial competitiveness
  • Its vice mayor said that "intelligent manufacturing" plays a key role in new industrialization and is pivotal in the city's digital economic transition
Economy

Qatar National Bank forecasts world economic growth to be 2.9% in 2024

Doha, Qatar--Qatar National Bank (QNB) expects the global economic growth to be around 2.9 percent in 2024, roughly the same...
  • QNB said that its view is more bullish than others as the bank believes the global economy to expand by 2.9 percent roughly the same rate as last year
  • It believes the US economy would slow down as the US fiscal thrust is set to decelerate from a positive 1.9 percent in 2023 to a negative 1.4 percent in 2024