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 closes Hormuz over Lebanon strikes as US, Iranian teams head to Switzerland

Iran's joint military command said the move was prompted by what it described as Israeli violations of the understanding reached...

Geostrategy

US, Iran technical negotiations face delay after Vance postpones Switzerland visit

"The logistics of these negotiations have never been simple or predictable. As of now the Vice President is not departing...

Geostrategy
Business

Land transport of goods leads Saudi commercial registrations in Q4

Riyadh, Saudi Arabia -- Saudi Arabia witnessed a surge in commercial registrations across various business sectors in the last quarter...
  • The resorts activity saw a significant 51 percent annual increase, reaching 3.37 million records by Q4 2023.
  • Boutique hotels witnessed a surge of 74.4 percent, with commercial records reaching 1.91 million by Q4 2023.
Business

Walaa posts $39m net profit

The insurance provider had suffered a loss of $18.15m in 2022.
  • Walaa attributed the increase in net profit to insurance revenue of SAR 28.12 million in 2023 compared to a loss of SAR 119.9 million in 2022.
  • In Q4 2023, the company recorded a net profit of SAR 45.3 million, against a net loss of SAR 11.41 million in the same quarter of previous year.
Business

Yalla Group 2023 revenue $318m

The company's fourth quarter revenue soared to $80.9 million.
  • In the last quarter of 2023, Yalla's net margin was 36.6 percent alongside an impressive non-GAAP net margin of 41.3 percent.
  • Yalla reported a 13.3 percent year-over-year increase in average monthly active users (MAUs), reaching 36.2 million in the final quarter of 2023
Business

Dubai hotel occupancy up 3.4% to reach 90.8 percent in Feb

Dubai, UAE -- Dubai hotels achieved a 3.4 percent year-on-year growth in occupancy levels, reaching 90.8 percent, according to preliminary...
  • Other key metrics also showed positive growth, with the average daily rate (ADR) increasing by 9.3 percent to AED 887.06 ($241).
  • The revenue per available room (RevPAR) rising by 13.1 percent to AED 805.21, according to CoStar, a provider of global real estate information.
Economy

Saudi foreign reserve assets decrease by 2% to $431bn in Feb

Riyadh, Saudi Arabia -- Saudi Arabia's international reserve assets decreased by SAR 26.98 billion, or 2 percent, to SAR 1.619...
  • On a yearly basis, the Kingdom’s foreign reserve assets plunged 5 percent, or SAR 78.2 billion, Argaam reported, citing Saudi Central Bank (SAMA) data.
  • Foreign currency reserves, representing about 94 percent of total assets, fell by nearly 5 percent year-on-year (YoY) in February to SAR 1.526 trillion.
Business

Madinah first Arab city to gain Gold Level in UN’s SDG Cities Initiative

Madinah, Saudi Arabia -- The United Nations Human Settlements Programme (UN-Habitat) has recognized Madinah for attaining Gold Level in the...
  • Madinah became the first Saudi and Arab city, and the third internationally, to receive this recognition of achievement.
  • Last month, UNESCO announced that Madinah was one of the three Saudi cities --the others being King Abdullah Economic City and Al-Ahsa -- that joined the UNESCO Global Network.
Business

AI in Saudi Arabia: Most companies have a plan, few are ready

While 93 percent of companies in the kingdom have an AI strategy, only 8 percent feel fully prepared, according to...
  • The Index assesses AI readiness across 6 pillars: strategy, infrastructure, data, talent, governance, and culture, surveying respondents from companies with 500 or more employees.
  • Only 12 percent of organizations have networks equipped for AI workloads, and 70 percent lack sufficient cybersecurity for AI models.
Business

SAR and Maersk to transport more containers between 2 Saudi ports

Riyadh, Saudi Arabia -- Saudi Arabia Railways (SAR) has signed a contract with the sea shipping company Maersk to increase...
  • The contract will also help increase operational efficiency, decrease the number of trucks between Dammam and Riyadh cities, reduce emissions, and maintain road infrastructure.
  • It will contribute to elevating Dammam Port to a regional station for global trade routes from the east to the local markets and countries in the region, said CEO SAR.
Business

Saudi Arabia’s IPI falls 8.8% in Jan on decrease in mining activity

Riyadh, Saudi Arabia -- Saudi Arabia’s Industrial Production Index (IPI) continued to decline for the 13th month in a row,...
  • Compared to Dec 2023, IPI increased by 0.3 percent supported by mining and quarrying activity, manufacturing activity and water supply, sewerage, waste management and remediation.
  • On the other hand, the sub-index for mining and quarrying activity increased by 0.1 percent compared to December 2023.
Business

India, European EFTA bloc sign $100 billion free trade deal

The deal will see the European Free Trade Association (EFTA) -- made up of non-European Union nations, including Iceland and...
  • EFTA was established in 1960 to promote free trade and economic integration between its members. In 2021, it was the 10th largest trader in the world in terms of merchandise.
  • In recent years, India has signed trade agreements with Australia and the United Arab Emirates. A long-talked-about trade deal with Britain is also said to be in the final stages.

Iran closes Hormuz over Lebanon strikes as US, Iranian teams head to Switzerland

Iran's joint military command said the move was prompted by what it described as Israeli violations of the understanding reached...
Geostrategy

Company News

Latest News

Firms lag as AI-driven fraud surges: Study

The report, published by the Association of Certified Fraud Examiners and analytics firm SAS, highlights widening gaps between rapidly evolving...
Business

Humanoid robot outpaces human half-marathon record in Beijing trial

Dubai, UAE -- A humanoid robot completed a half-marathon in China in a time faster than the human world record,...
Geostrategy

UAE real estate posts record Q1 growth on strong investor demand

In Dubai, the Dubai Land Department reported 718,160 real estate transactions, including 60,303 disposals, up 6% from a year earlier....
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

Lebanon ceasefire begins, violations test fragile truce

The truce, brokered by the United States, is intended to halt cross-border fighting between Israeli forces and Hezbollah. Scenes of...
  • However, the calm was quickly tested. Lebanon’s army accused Israel of violating the ceasefire, while medics accused it of killing one person one person in the town of Kunin.
  • U.S. President Donald Trump said Washington had “prohibited” Israel from carrying out further strikes in Lebanon.
Business

Sharjah Islamic Bank Q1 profit rises 19.4 percent

Sharjah Islamic Bank (SIB) reported a 19.4 percent rise in first-quarter net profit, supported by higher income from Islamic financing...
  • Income from Islamic financing and sukuk rose 14.4 percent, supporting operating income growth and profitability levels.
  • Customer deposits increased 10.3 percent, improving financing-to-deposit ratio while maintaining stable liquidity and asset quality metrics.
Geostrategy

Middle East conflict may push 30 million into poverty: UNDP

According to a new UNDP policy brief, the impact is most severe in countries directly affected by the fighting and...
  • Recommends targeted cash transfers and energy support, warning against costly blanket subsidies in developing economies.
  • It is estimated that up to $6 billion may be required, depending on the severity of the crisis.