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.

Iran and Russia to sign new contracts to develop oil, gas fields

Tehran, Iran-- Iran and Russia have agreed to sign new contracts on developing oil and gas fields, according to the...

Economy

Qatar and China entrepreneurs explore partnerships, JVs in tech and energy

Doha, Qatar-- Businessmen and entrepreneurs from Qatar and China have discussed opportunities to set up joint ventures and commercial partnerships...

Economy
Economy

Dubai Customs and Japan’s consulate discuss expansion of trade ties

Dubai, UAE-- Officials from Dubai Customs and Japan's consulate have discussed ways to boost trade cooperation between the two countries...
  • The officials noted how collaboration with Dubai was enabling Japan's traders and investors to expand their businesses in Dubai
  • The consulate officials conveyed their appreciation for Dubai Customs' role in combating drug smuggling across borders
Economy

Abu Dhabi crown prince reviews progress of government projects in emirate

Abu Dhabi, UAE-- The Crown Prince of Abu Dhabi and chairman of the Abu Dhabi Executive Council Sheikh Khaled bin...
  • The crown prince stressed the need for investing in early education and how it is integral to building a "future-ready generation"
  • In the meeting he noted the importance of achieving a fully integrated and sustainable roadmap, involving all stakeholders
Economy

SCA and UBF sign MoU to strengthen UAE’s asset management industry

Abu Dhabi, UAE--The Securities and Commodities Authority (SCA) has signed a memorandum of understanding (MoU) with the UAE Banks Federation...
  • The MoU looks to set up the UAE as a major attraction for asset and wealth management corresponding with the government's aspirations for the next 50 years
  • Both the parties, under the terms of the MoU, resolved to cooperate and share expertise and studies aimed at improving the local asset management sector
Economy

Bahrain secures 9th spot in survey for best expat destinations in world

Manama, Bahrain--Bahrain has climbed up to ninth position in the top destinations in the world for expatriates, according to report...
  • Respondents perceived Bahrain to be the country where a visa could be secured easily, and a bank account could be opened without a hassle
  • The survey is one of the world's biggest expat polls based on data from more than 12,000 expats from 171 countries, scattered across the world
Economy

Jordan and Japan review economic, strategic relationship

Amman, Jordan-- Jordan and Japan have discussed ways to boost economic cooperation and further strengthen strategic ties between the two...
  • The Jordanian minister noted the "importance" of Japanese investments and their role in transfering advanced technology to the kingdom
  • Jordan's exports to Japan, according to the Department of Statistics, amounted to $87 million, while imports from Japan touched $348 million
Economy

GCC, API sign MoU to establish framework for cooperation

Riyadh, Saudi Arabia-- Seeking to establish a broad framework for cooperation in several areas, the GCC and the Arab Planning...
  • The MoU is expected to contribute to the development of the local working force in the GCC through cooperation in several areas
  • GCC secretary general applauded API for supporting Arab organizations and institutions in all their forms with projects and ideas
Business

Yahsat to invest US$100m

It is for capital expenditure of T4-NGS satellite program.
  • The program, the next-generation telecommunications system for Thuraya, is scheduled to begin operational service in H1 2025.
  • The total cost of the program is up to $550 million, including manufacturing, launch, insurance and new ground infrastructure.
Business

Multiply Group buys stake

A minority stake in Breakwater Energy cost it US$100m.
  • The group by virtue of its new acquisition will become part owner of a profitable and cash-generative, diversified global upstream portfolio
  • It poured some US$2.72 billion last year into Abu Dhabi National Energy Company (TAQA), an integrated utility champion in the EMEA region
Business

ROSHN inks MoU with Expro to develop real estate in Saudi Arabia

Riyadh, Saudi Arabia--ROSHN, the Saudi real estate developer, has signed a memorandum of understanding (MoU) with the Expenditure and Project Efficiency...
  • The partnership between the two will increase the sustainability of the PIF-backed giga project and also ramp up its activities
  • The cooperation with leading groups in the nonprofit sector is designed to lift up the quality of life for the underprivileged families
Economy

Egypt to receive first batch of Iranian tourists in era of restored ties

Tehran, Iran-- After years of frosty relations between the two countries, Egypt and Iran are set to restore ties with...
  • According to the Egypitan tourism minister, Iranian tourists will arrive in the country and visit southern coasts of Sinai, Nubia and Taba
  • Haitham bin Tariq, the Sultan of Oman, played a pivotal role as a mediator in ending years of enmity between Egypt and Iran

Iran and Russia to sign new contracts to develop oil, gas fields

Tehran, Iran-- Iran and Russia have agreed to sign new contracts on developing oil and gas fields, according to the...
Economy

Company News

Latest News

Qatari exports to clients surge in 2023 to US$412m: Tasdeer

Doha, Qatar--The Qatar Development Bank's Export Development and Promotion Agency (Tasdeer), a subsidiary of the Qatar Development Bank, announced an...
Business

Dragon Oil starts oil production

The Al Wasl field is its first oil discovery in Egypt.
Business

Bitcoin crosses $45,000 for first time since April 2022

Dubai, UAE--Bitcoin stormed above $45,000 on Tuesday for the first time since April 2022. Bitcoin touched a 21-month peak of...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Gupco begins pumping oil in Egypt

The production started at the first well in the Gulf of Suez.
  • Egypt's petroleum minister said the project first phase aims to reach 6,000 barrels per day by mid-January
  • The completion of the second well is expected by mid-January to raise production to targeted levels
Business

New investors throng Dubai Financial Market to open accounts

Dubai, UAE--Brokerage firms at the Dubai Financial Market (DFM) opened 57,054 new investor accounts in 2023, marking a significant increase...
  • The expansion in the growth resulted from the listing of the government and semi-government companies and also rising popularity of online trading
  • The brokerage firms numbering 29 on the bourse executed over 3.83 million transactions in 2023, a 32.7% increase compared to 2022's 2.88 million
Business

Iran-Azerbaijan trade registers 46 percent jump in 2022

Tehran, Iran-- Trade between Iran and Azerbaijan has registered a 46 percent jump in 2022, according to the deputy prime...
  • The deputy PM was speaking at the inauguration ceremony of the new Astara-Astara border bridge
  • He said the two countries would see significant growth in the transit sector in the coming years