INSEAD Day 4 - 728x90

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Empower okays $119.1m H2 2025 dividend

The dividend is equivalent to 43.75% of paid-up capital.

IHC posts net profit of US$8.97bn

Its revenue jumped to US$16.33 billion, a rise of 17.9 percent.

Business

Saudi Arabia announces major gas discovery in Jafurah

Riyadh, Saudi Arabia--Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz revealed on Sunday that an additional 15 trillion...

Economy
Economy

FAB hosts Chinese businessmen for summit on boosting trade

Abu Dhabi, UAE-- Seeking to deepen the UAE's economic and trade relationship with China, First Abu Dhabi Bank hosted more...
  • With investment and trade touching US$330 billion during the last ten years, China has emerged as the Middle East's largest trading partner
  • Last year, the bank became the first financial institution from the UAE to open a branch in Shanghai thus pushing trade and investment flows across the region
Business

UAE looks to strengthen economic ties with Central Asian states

Dubai, UAE-- The UAE is keen to strengthen economic ties with the Central Asian states, which offer many investment opportunities....
  • Dr. Thani bin Ahmed Al Zeyoudi said that the UAE was always exploring new markets, and the KazanForum provided a platform to meet with representatives of Central Asian nations
  • He held bilateral talks with several government ministers and officials, focusing on the current economic landscape, areas of mutual interest and opportunities for investment
Business

Aldar raises US$500mn

The 10-year sukuk was priced with a 4.875% coupon rate.
  • The issuance was oversubscribed, drawing investors from the region and beyond who placed orders to the tune of $2.3 billion
  • The proceeds from the sukuk will be utilized in accordance with Aldar’s Green Finance Framework, which governs investment in sustainable projects
Economy

Iran and Russia sign customs agreement to boost trade volume

Tehran, Iran-- Continuing with their program to deepen the relationship between the two countries, Iran and Russia have signed a...
  • The Iranian minister said that a new roadmap for expanding cooperation between the two countries will be achieved with the signing of the agreement
  • The head of the Russian delegation said that his country's goal was to develop the transit capacity and to boost cooperation in order to increase trade
Economy

IMF lauds Jordan for monetary policy ensuring macroeconomic stability

Amman, Jordan--The International Monetary Fund (IMF) has applauded Jordan for its tight monetary and financial policies that have ensured macroeconomic...
  • The IMF said that the kingdom's program supported by the fund is "still on the right track" with targets bolstered by strong performance on structural benchmarks
  • It observed that the economic recovery from the COVID-19 pandemic is ongoing in Jordan, expecting GDP growth to reach about 2.6 per cent in 2023
Economy

Money laundering and terrorism financing pose threat to world: UAE

The three-day conference in Abu Dhabi has brought together officials from around the world to discuss the menace of money...
  • The official emphasized the importance of cooperation among nations to combat money launder and terrorism financing
  • The UAE has set up specialist department and has signed a slew of agreements to coordinate with many countries to fight money laundering
Science

UAE sees 20 percent decrease in nitrogen oxide emissions: study

Dubai, UAE-- The UAE has witnessed a 20 percent drop in nitrogen oxide emissions from power generation activities, according to...
  • The findings of the study corresponds with the "National Air Quality Agenda 2031," introduced by the Ministry of Climate Change and Environment
  • The UAE aims to lower pollution, improve air quality, foster a safe and healthy environment, and enhance the overall quality of life
Business

DEWA and Huawei to develop new technologies in electricity, water sectors

Dubai, UAE--DEWA and Huawei are looking to develop new technologies and solutions to boost efficiency and sustainability in the electricity...
  • The collaboration between the two entities has resulted in progress in digital transformation, exchanging the best international solutions, experiences and practices
  • Saeed Mohammed Al Tayer, MD & CEO of DEWA, noted the progress of the joint projects between the two sides, including Moro’s green data centres
Economy

Iran and Russia look to expand ties in the energy sector

Tehran, Iran-- Iran is looking to deepen energy ties with Russia as the latter is keen to explore and develop...
  • Russian Deputy Prime Minister Alexander Novak said that projects to develop oil fields in Iran are underway and new projects are being outlined, "where I expect progress soon"
  • Iranian Oil Minister Javad Owji said that the two sides also discussed the construction of nuclear power plants in Iran and other electrical power generation
Economy

Gross banks’ assets vault 2.2 percent to US$1trn in February: CBUAE

Abu Dhabi, UAE--Gross banks’ assets, including bankers’ acceptances, rose by 2.2 percent, from $999 billion at the end of January...
  • According to the central bank, gross credit shot up 1.2 percent from $510 billion at the end of January 2023 to $517 billion at the end of February 2023
  • It further added that total bank deposits climbed 0.4 percent, from $608 billion at the end of January 2023 to $610.48 billion at the end of February 2023

IHC posts net profit of US$8.97bn

Its revenue jumped to US$16.33 billion, a rise of 17.9 percent.
Business

Company News

Latest News

Doha Forum debates advantages in Gulf-Europe green ties

Doha, Qatar-- Oil and gas producers in the Middle East are assessing "challenges and opportunities" available for their economies to...
Economy

COP28 focused on achieving balanced package in negotiations: Majid Al Suwaidi

Dubai, UAE-- The COP28 Presidency is focused on achieving a balanced package in the negotiations, according to Ambassador Majid Al...
COP28 UAE

Faster hydrogen production needed for energy transition: WTO

Abu Dhabi, UAE-- In order to speed up the energy transition there must be a fast increase in the production...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

COP28 UAE

ENEC signs MoU with Egypt

They will explore to advance the use of nuclear energy.
  • The UAE's nuclear body is focused on strategic investments, research and development, and innovative approaches to cater to the need for clean energy sources
  • It is cooperating with local stakeholders to determine deployment pathways, and with international partners for both technology and project collaboration opportunities
Business

Bahrain and Germany look to boost cooperation in health sector

Manama, Bahrain-- Bahrain and Germany have held discussions to boost ties in the health field as the two countries seek...
  • Chairman of the SCH, Lieutenant-General Dr. Shaikh Mohammed bin Abdulla Al Khalifa, expressed Bahrain’s interest in developing cooperation with Germany in all fields
  • Both the sides pushed for an exchange of specialized medical, technological and technical expertise, training, medical research between the two countries
Business

EU clinches ‘historic’ deal on AI law after long negotiations

The EU's internal market commissioner, Thierry Breton. called the deal as historic, regulating artificial intelligence models such as ChatGPT. Negotiators...
  • The commissioner said the AI Act is much more than a rulebook , calling it a launchpad for EU startups
  • The EU law will still need to be formally approved by member states and the parliament