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.

China home prices edge down in January, data shows

Beijing, China--Major Chinese cities reported falling home prices in January with narrowing declines, official data showed on Friday. The National...

Economy

Korea’s H2O sets up base in Abu Dhabi

It will collaborate with Abu Dhabi Investment Office.

Business
Business

Qatar expects Eid bonanza, hotel occupancy rates to go up 80%

Doha, Qatar-- Qatar expects a big boost in hotel occupancy rates by at least 80 percent during the Eid holidays...
  • Qatar aims to have at least six million visitors annually and raise the contribution of the tourism sector to the country's GDP to 12 percent by 2030
  • Visitors can now apply for a visa using a single platform, on which they can submit their visa applications and then receive the travel documents
Business

Stc to buy assets in Europe

It will acquire a portfolio of towers in Europe for US$1.3bn.
  • According to a statement, Tawal infrastructure, an arm of Saudi Telecom will pay cash for a host of more than 4,800 towers in Bulgaria, Croatia, and Slovenia
  • A few media reports said that it was close to a deal to buy the assets from United Group, which is backed by buyout firm BC Partners
Business

DFM, ADX account for 20% of Arab exchanges’ liquidity last week

Abu Dhabi, UAE--The Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) accounted for nearly 20 percent of...
  • Arab stock exchanges, according to the Arab Monetary Fund, raked in liquidity to the tune of $10.28 billion last week
  • ADX’s liquidity shot up by 2.22 percent last week from US$1.489bn to $1.522bn, while DFM’s liquidity surged by 41.4 percent from US$344.4mn to US$486.06mn
Business

M42 acquires Diaverum

Diaverum is world’s third-largest provider of dialysis services.
  • Founded in 1991, Diaverum operates across 23 countries, with 440 clinics and over 13,000 employees.
  • It has a strong track record of clinical excellence, providing critical care to around 39,000 patients.
Business

United Arab Bank posts profit

The bank's net profit vaulted to US$15mn in Q1, up 80%.
  • The jump in the net profit of the bank come on the back of improved net interest income and lower provision charges
  • Its operating income rose 5 percent in Q1 of 2023, as against the same period of last year, due to a 38 percent jump in net interest income
Business

ADNOC, Japan sign deal to bolster low-carbon hydrogen value chain

Tokyo, Japan--Abu Dhabi National Oil Company has signed two agreements with Japanese partners to strengthen the low-carbon hydrogen value chain between...
  • One of the agreements, with Kawasaki, aims to explore the production, liquefaction, and transportation of hydrogen to key global markets
  • The deal comes as countries around the world ramp up efforts to reduce carbon emissions and meet the goals of the Paris climate agreement
Economy

ACWA Power to build 1,000 megawatt solar power plant in Iraq

Riyadh, Saudi Arabia--ACWA Power will construct a 1,000 megawatt solar power plant in Iraq, the first clean energy project in...
  • The joint venture project, according to Iraqi minister, will be developed in Central Iraq’s Najaf city, around 160 km south of the capital
  • In 2021, Iraq signed a contract with PowerChina to build 2,000 MW solar plants in the nation to fulfill its growing demand for electricity
Economy

Saudi Arabia and Netherlands discuss export of clean hydrogen to Europe

Riyadh, Saudi Arabia-- Saudi Arabia and the Netherlands have discussed the possibility of exporting clean hydrogen from the kingdom to...
  • The two also discussed the kingdom's efforts in clean energy and climate change through its local and regional initiatives
  • In a separate meeting, the Saudi Foreign Minister Prince Faisal bin Farhan and the Dutch minister reviewed the bilateral relations between the two nations
Economy

Annual inflation in Qatar shoots up 4.01 percent in March

Doha, Qatar-- Inflation in Qatar rose by 4.01 percent year-on-year in March, because of a rise of prices across eight...
  • Recreation and culture posted the highest increase, climbing up to 13.63 percent, according to the data released by the Planning and Statistics Authority
  • During the fourth quarter of 2022, Qatari banks recorded the highest loan increase among Gulf lenders, despite a stiff interest rate environment
Geostrategy

Syrian foreign minister visits Algeria to boost ties

Algiers, Algeria-- Syrian Foreign Minister Faisal Mekdad arrived in Algeria on Saturday, Algerian state radio reported late on Friday, a...
  • According to Algerian state radio, the visiting foreign minister was welcomed by Ahmed Ataf, Algerian foreign minister
  • Faisal Mekdad arrived in Saudi Arabia on Wednesday, in the first such trip since civil war broke out in Syria in 2011

China home prices edge down in January, data shows

Beijing, China--Major Chinese cities reported falling home prices in January with narrowing declines, official data showed on Friday. The National...
Economy

Company News

Latest News

UAE marks 52nd National Day with parades, shows

Across the country, the festivities will be characterized by performances of Emirati folk arts, cultural shows, police parades, display of...
Geostrategy

Masdar ties up with RWE in US$14bn investment to develop wind projects in UK

Dubai, UAE--Abu Dhabi Future Energy Company, also known as Masdar, is part of a $14 billion investment into the UK’s...
COP28 UAE

World Bank allots 45% of its financing to climate projects

The bank, according to a statement, "is putting to work more than $40 billion", around $9 billion more than previously...
COP28 UAE
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

UAE and Cuba look to boost economic, energy ties

The discussions between the UAE president and the Cuban president at Expo City Dubai focused on cooperation in various fields...
  • The meeting also covered the UN Climate Change Conference (COP28), starting today at Expo City Dubai
  • The two leaders exchanged views on regional and international developments and a number of other issues
Business

ENOC and Neste sign MoU to drive sustainable aviation fuel initiatives

Dubai, UAE--ENOC Group has signed a memorandum of understanding (MoU) with Neste, the world's leading producer of sustainable aviation fuel...
  • The partnership is the first step in ENOC’s plan to supply blended SAF to all its customers across its entire network by 2030
  • The fuel taken from renewable raw materials has the potential to reduce air travel related carbon emissions by up to 80%
Economy

Iran’s exports to African countries register 185 percent growth

Tehran, Iran--Iran’s export to African countries in the first seven months of the current Iranian calendar year registered a 185...
  • The Islamic Republic's exports to Africa from March 21 to October 22, 2023 showed a more than 185 percent growth
  • According to an Iranian official, the country would witness $5bn worth of trade with Africa in the next few years