93% GCC frontline employees use AI weekly, BCG report finds
The report, titled “Strategy Matters More than Tools,” draws on data from the UAE, Saudi Arabia, Kuwait and Qatar and...
Business
Iran war puts fresh pressure on oil flows, shipping as Tehran asks UN to intervene
Renewed US-Iran hostilities are disrupting energy flows, restricting Strait of Hormuz shipping and intensifying economic pressure as Tehran warns against...
Geostrategy
Business
UAE national carriers reach 603 global destinations by Q1
Abu Dhabi, UAE -- The UAE's national carriers have witnessed significant growth in their destination network, reaching approximately 603 destinations...
- The 3% rise over 2022 reflects the rebounding aviation sector and caters to the rising demand for travel.
- Etihad Airways has achieved significant growth, reaching approximately 76 destinations by the end of the first quarter of 2024.
Economy
UAE Central Bank forecasts GDP to grow by 4.2% in 2024, 5.2% in 2025
Abu Dhabi, UAE -- The Central Bank of the United Arab Emirates (CBUAE) expects the country's Gross Domestic Product (GDP)...
- The Central Bank also forecasted a non-oil GDP growth of 4.7 percent in both 2024 and 2025, and an oil GDP growth of 2.9 percent in 2024 and 6.2 percent in 2025.
- The CBUAE report anticipated that the recent introduction of a federal corporate tax is poised to further strengthen government finances.
Economy
Abu Dhabi’s non-oil economy expands 9.1%, real GDP up 3.1% in 2023
The non-oil economy contributed more than 53 percent to the total GDP, with significant growth in construction, finance and insurance,...
- During Q4-2023, Abu Dhabi’s economy grew 4.1% compared to the same period in 2022, with non-oil sector growing by 10.4%.
- The emirate’s GDP in 2023 achieved its best performance in terms of value in 10 years at AED1.14 trillion ($310.38 billion).
Business
26,596 new investors join Dubai Financial Market in first quarter
The new accounts were distributed over the months of the year, with a notable YoY spike of 151.5 percent in...
- The new accounts were distributed over the months of the year, with a notable YoY spike of 151.5 percent in March 2023, when 16,574 new accounts were opened.
- This coincided with Parkin floating its shares amid exceptional interest from international and regional investment institutions, as well as individual investors in the UAE.
Business
ROSHN Group’s first integrated community in Makkah launched
Riyadh, Saudi Arabia -- ROSHN Group has launched ALMANAR, its fifth integrated mixed-use community and its first venture in Makkah,...
- AlMANAR's first phase will provide 4,149 residential units that will house over 17,000 people on a footprint of 2.5 million square meters.
- ALMANAR is located at Makkah’s western gate, between the old and new expressways linking the city to Jeddah, 20 minutes from the Holy Mosque.
Business
Agility 2023 net profit $272m
The company is recommending a cash dividend of 10 percent.
- Full-year EBITDA was up 42.4 percent to KD 257.2 million and revenue increased 56.7 percent to KD 1.35 billion.
- The Q4 2023 earnings of KD26 million, or 10.2 fils per share was almost in line with the same period a year earlier.
Business
Borouge approves $1.3bn dividend for 2023
The company intends to pay $1.3bn in dividend for 2024 also.
- Borouge recorded $1 billion in net profit in 2023 and its $607 million Value Enhance Programme contributed a significant 28 percent to 2023 EBITDA.
- Borouge said it outperformed its regional and international peers with one of the highest EBITDA margins in the industry at 38 percent.
Business
DEWA okays $844m dividend
In 2023, DEWA's revenue exceeded $7.8 billion, its highest ever.
- The company's operating profit was over AED 8.7 billion and EBITDA was over AED 14.7 billion.
- It recorded the highest annual power generation of 56.1 TWh, which includes clean power generation of 6.2 TWh.
Business
Emirates retains fourth most valuable airline brand status
Dubai, UAE -- UAE carrier Emirates defended its title as the fourth most valuable airline brand, with a staggering 30...
- The UAE carrier witnessed 30 percent increase in brand value, reaching $6.6 billion, according to Brand Finance, a brand valuation consultancy.
- Qatar Airways (brand value up 27 percent to $3.1 billion) is the second most valuable Middle Eastern brand.
Business
ADIB closes $235m Sharia-compliant transaction to finance gas carriers
Abu Dhabi, UAE -- Abu Dhabi Islamic Bank (ADIB) has closed a sharia compliant syndicated transaction totaling AED865 million ($235...
- This is the second tranche of $370m syndication, which will be used to finance the construction of three Very Large Gas Carriers.
- The vessels will be dual-fuel efficient and enjoy operational, economic and environmental efficiencies through their Liquefied Petroleum Gas (LPG) engines.
93% GCC frontline employees use AI weekly, BCG report finds
The report, titled “Strategy Matters More than Tools,” draws on data from the UAE, Saudi Arabia, Kuwait and Qatar and...
Business
Company News
Latest News
Dubai diamond trade hits record $41.7 billion in 2025, DMCC says
Dubai, UAE -- Dubai's diamond trade rose to a record $41.7 billion in 2025, surpassing its previous high set in...
Business
US strikes hit Iran for third night as Tehran expands retaliation across Gulf
US Central Command (CENTCOM) said its forces completed a five-hour mission that struck military targets in Bushehr, Chah Bahar, Jask,...
Geostrategy
The value imperative: leading growth forward
Companies should act now by strengthening financial resilience, embracing AI, diversifying supply chains and remaining lean. Waiting for stability is...
Opinion
Most Read
Geostrategy
US launches fresh strikes on Iran as Tehran expands attacks on Gulf bases
The latest operation followed approximately 140 US strikes carried out the previous day after Iran attacked a commercial ship in...
- Iranian state media reported US strikes on the southern Gulf islands and said one person was killed and four others wounded in Khuzestan province.
- Iran also reported drone strikes on sites in Oman, while Kuwait said border posts and an offshore oil platform had come under attack.
Geostrategy
Sheikh Hamad bin Khalifa Al Thani, who put Qatar on world map, passes away
His death at the age of 74 closed a defining chapter in the country's modern history. During his 18-year reign...
- His voluntary 2013 abdication to Emir Sheikh Tamim marked an unprecedented peaceful generational transition in modern Gulf monarchies.
- In 1996, he authorised the launch of Al Jazeera, the satellite television network that revolutionised Arabic-language news and reshaped media across the region.
Geostrategy
Iran launches drone, missile attacks on Gulf nations after US strikes
The latest round of fighting erupted after Iran's IRGC attacked a Cyprus-flagged container ship it said was transiting via an...
- UAE's ministry of defence said the country's air defence was engaging Iranian drones and missiles.
- Qatar and Bahrain asked its citizens to remain calm and move to safer places.