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.

Bahrain to support ‘Arab tourism’ in order to boost cultural integration

Manama, Bahrain--Bahrain will support Arab tourism in order to enhance social, cultural and historical integration among Arab people, according to...

Economy

Dubai economy would grow 5 percent this year: Al Ghurair

Dubai, UAE-- The economy of Dubai would grow around five percent this year, according to Abdul Aziz Abdulla Al Ghurair,...

Economy
Economy

AD Ports adds drydock services at Khalifa Port in expansion drive

Abu Dhabi, UAE— AD Ports Group will add drydock services to its portfolio at Khalifa Port in an expansion of...
  • The port with the expansion in services, from container and cargo handling, vessel repairs and maintenance, is aiming to improve client service
  • The CEO of AD Ports said the addition of new service will drive growth and enhance the company's competitive position in the market
Economy

Egypt reports 72% drop in current account deficit to US$1.8bn

Cairo, Egypt--Egypt’s current account deficit fell 77.2 percent to $1.8 billion in the first half of the North African country’s...
  • The drop in the deficit was caused by current account turning a $1.41 billion surplus last year as imports dropped and exports soared
  • According to S&P Global's report, the downturn in the business sector softened in April as cost inflation fell to a on-year low
Business

Abu Dhabi’s property market records sales worth US$7.62bn in Q1

Abu Dhabi, UAE--The property market in Abu Dhabi has recorded 5,472 property sales and mortgages valued at US$7.62 billion in...
  • The emirate recorded a 147 percent jump in the value of real estate transactions during the first quarter of 2023 compared to the same period of last year
  • The Department of Municipalities and Transport has reported an increase in the value of mortgage transactions to $3.18 billion during the first quarter
Business

UAE and Jordan sign MoU to boost tourism, cultural exchange

Abu Dhabi, UAE--Looking to boost tourism and cultural exchange between the two countries, the Department of Culture and Tourism Abu...
  • The deal will bolster tourism and economic cooperation between the two nations, driving growth in leisure traffic in key markets
  • The partnership entails starting initiatives like joint sales workshops, training, roadshows to improve partner engagements and cultural exchange
Business

Radisson eyes bigger share of Middle East hospitality sector

Dubai, UAE-- Seeking to take advantage of the boom in the Middle East's hospitality sector, Radisson Hotel Group will triple...
  • The hotel group plans to have 150 properties across the Middle East by the end of the decade, from its current portfolio of 52 hotels in the region
  • It will open seven properties across Saudi Arabia in 2023 as its intends to capitalize on the surge in religious tourism in the kingdom
Business

Beema’s Q1 profit soars

The firm recorded a jump in the net profit to US$3.73mn.
  • In 2022, Beema achieved gross written premiums of $108 million, an increase of 6.8 percent from 2021
  • It reported a total shareholders' income of $28.46 million and a total shareholders' profit of $15.54 million in 2022
Business

Turkey discovers oil field with 100k barrels daily capacity: Erdogan

The oil field discovery is set to yield a daily production of up to 100,000 barrels that will help Turkey...
  • Erdogan said in a speech that Turkey has already begun supplying "high-quality" oil to refinery, with a productivity rate reaching about 100,000 barrels per day
  • The president said that with reserves worth "tens of billions" of dollars, it will shore up Turkey's energy prospects and contribute to its economic growth
Business

e& profit at US$600mn in Q1

Its consolidated revenues rise to US$3.53bn in Q1 of 2023.
  • Etisalat by e& added 13.9 million subscribers in the UAE, a 6 percent increase as against the same period of last year
  • According to Brand Finance, e& has strengthened its position as the most valuable brand in the MENA region
Business

Egypt signs transport investment deal with Japan worth US$734mn

Cairo, Egypt--Egypt has signed its biggest investment package with Japan aimed at supporting the North African country's transportation development plan....
  • Egypt will use the money to finance expansion of Cairo's metro, a 30-km stretch of land that would link Egypt’s 6th of October city to the Giza plateau
  • Japan's investments in Egypt have gone up by 99 percent during 2021-2022, touching $73.7 million as against $37.1 million in the previous year
Business

Dubai hosts World Free Zones Organization’s annual AICE event

Dubai, UAE-- The World Free Zones Organisation’s (World FZO) ninth Annual International Conference & Exhibition (AICE) will begun in Dubai...
  • The two-day event will debate challenges facing global trade and the impact of the Covid-19 pandemic on the global economy
  • Nearly 600 participants specializing in trade, logistics will come from more than 70 countries to take part in the event

Bahrain to support ‘Arab tourism’ in order to boost cultural integration

Manama, Bahrain--Bahrain will support Arab tourism in order to enhance social, cultural and historical integration among Arab people, according to...
Economy

Company News

Latest News

ADQ and Qazaqstan Investment Corporation set up ‘investment platform’

Abu Dhabi, UAE--ADQ and Qazaqstan Investment Corporation have established a co-investment platform focused on high-growth sectors such as food and...
Business

Turkish Airlines, Riyadh Air ink MoU

The pact will benefit customers of both the airlines.
Business

UAE’s ENEC signs MoU with TerraPower for nuclear-technology development

Dubai, UAE--The Emirates Nuclear Energy Corporation (ENEC) has signed a memorandum of understanding with TerraPower, an American nuclear innovation company,...
COP28 UAE
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

COP28 UAE

UAE and Turkmenistan pledge to ramp up ties ‘in all fields’

Dubai, UAE-- The UAE and Turkmenistan have agreed to enhance bilateral ties in all fields, particularly in the development sectors,...
  • The leaders of the two countries reviewed ways to ramp up bilateral ties between the UAE and Turkmenistan in all fields
  • They discussed the COP28 agenda and its role in bolstering international action to address the phenomenon of climate change
COP28 UAE

UAE president and UN chief discuss ‘collective action’ to address climate challenges

Dubai, UAE-- UAE President Sheikh Mohamed bin Zayed and UN Secretary General António Guterres discussed the importance of the conference...
  • The UN chief applauded the initiative of UAE president in establishing a US$30 billion fund for global climate solutions
  • They also talked on cooperation between the UAE and UN agencies, particularly in supporting world peace and climate action
COP28 UAE

COP28 unveils oil and gas ‘Decarbonisation Charter’ to speed up climate action

Dubai, UAE--The COP28 Presidency Saudi Arabia have launched a landmark Oil and Gas Decarbonisation Charter (OGDC), a global industry charter...
  • Around 50 companies, representing more than 40 percent of global oil production, so far have signed on to the OGDC
  • COP28 President Dr. Sultan Al Jaber said several oil companies have adopted net-zero 2050 targets for the first time