INSEAD Day 4 - 728x90

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

WEF’s Dubai Summit tackles existential digital risks

DUBAI, UAE – A powerful confluence of more than 500 experts and 150 cybersecurity leaders has converged in Dubai for...

Business

Dubai Integrated Economic Zones posts record $91 billion trade in 2024

Dubai, UAE – The Dubai Integrated Economic Zones Authority (DIEZ) recorded its highest-ever trade performance in 2024, with total trade...

Business
Business

DP World posts record $20bn revenue

The adjusted EBITDA rose by 6.7% to $5.5bn in 2024.
  • DP World capacity exceeded 100 million TEU due to selective infrastructure investment in key growth markets.
  • Capital expenditure of $2.2 billion ($2.1 billion in 2023) was invested across the existing portfolio.
Business

Meraas awards $544m contract

It has been awarded for construction of Design Quarter at d3
  • It includes the first residential community within Dubai Design District (d3), a global creative and design ecosystem.
  • Scheduled for completion by mid-2027, the Design Quarter at d3 comprises a collection of 558 apartments.
Interview

Tech and sustainability drive Singapore’s smart tourism vision

To realize its vision for “smart tourism”, Singapore Tourism Board is leveraging cutting-edge technologies like artificial intelligence, data analytics, and...
  • STB’s Tcube, a hybrid innovation space launched in 2021, has helped tourism businesses introduce tech solutions, including Al, into their operations.
  • More than 1,100 tourism companies have benefited from Tcube programs. Its Singapore Tourism Accelerator has supported 47 start-ups to develop 58 industry solutions across 6 cohorts
Business

Salik 2024 net profit before taxes $348m

The toll operator's revenue increased by 6% to $626 million.
  • The company said that EBITDA for the full year reached AED1.6 billion, a 13.6 percent YoY growth.
  • The Board of Directors proposes a dividend of AED619.8 million to be paid during H1 2025 (equivalent to 8.2645 fils per share).
Economy

Saudi Arabia’s inflation rate 2 percent in Jan, rental prices main driver

Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...
  • According to GASTAT, Saudi Arabia's inflation rate is considered the lowest among the G20 countries.
  • CPI measures the prices paid by consumers for a fixed basket of goods and services consisting of 490 items.
Business

AD Ports Group 2024 net profit $484m

The Group's revenue increased 48 percent year-on-year.
  • Net profit attributable to owners grew 24 percent YoY to AED1.33 billion led by strong operating performance.
  • Total assets grew by 15 percent YoY to AED63.70 billion in 2024 while total equity increased 15 percent YoY to AED27.83 billion.
Business

ADNOC L&S 2024 net profit $756m

The company's revenue increased by 29 percent to $3.54 billion.
  • EBITDA rose by 31 percent to $1.149 billion (AED 4.219 billion) in the same period, driven by robust performance across all business segments.
  • The Company's Q4 revenue increased by 6 percent year-on-year (y-o-y) to $881 million (AED 3.237 billion).
Business

ADNOC Distribution 2024 net profit down 7%

Minus UAE corporate tax, it would have grown by 2.4% to $725m
  • The company achieved its highest-ever (EBITDA) of $1.05 billion (AED3.86 billion), an increase of 4.8 percent year-on-year.
  • The company's Board of Directors has recommended a cash dividend of $350 million (AED1.285 billion) for H2 2024.
Economy

IMF projects 3.3% global growth for 2025, MENA to rebound to 3.6%

Dubai, UAE -- The International Monterey Fund (IMF) has projected global growth to remain at 3.3 percent this year and...
  • IMF Managing Director Kristalina Georgieva said that growth in the Middle East and North Africa is expected to rebound to about 3.6 percent in 2025.
  • She warned that global public debt is projected to hit 100 percent of global GDP by 2030.
Business

UAE non-oil foreign trade up by 14.6% in 2024 to reach $816bn

Abu Dhabi, UAE -- UAE's non-oil foreign trade increased by a record 14.6 percent in 2024, compared to 2023, reaching...
  • He said that of all the positive indicators, the most encouraging is the increasing contribution of non-oil exports to UAE's foreign trade.
  • Last year, they climbed 27.6 percent in to reach a record AED561.2 billion – nearly 70 percent of the AED800 billion target.

WEF’s Dubai Summit tackles existential digital risks

DUBAI, UAE – A powerful confluence of more than 500 experts and 150 cybersecurity leaders has converged in Dubai for...
Business

Company News

Boursa Kuwait posts $51m net profit

e& 2023 net profit is US$2.8bn

Emirates Flight acquires Bustanica

HMG 2023 net profit $544m

Americana Restaurants posts profit.

Latest News

TAQA H1 net income $1bn

The group's revenue reached $7.73 billion.
Business

Dubai GDP grows by 4 percent to reach $32.58 billion in first quarter of 2025

Human Health and Social Work activities registered the highest growth rate, rising 26 percent compared to the same period last...
Economy

Hospitality leaders to gather in Dubai for Commercial Strategy Conference

Dubai, UAE -- The region's top hospitality professionals will converge at the Conrad Dubai Hotel on November 25-26, 2025, for...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

24 Dubai real-estate projects worth $1.22bn completed in H1

Dubai, UAE -- The first half of 2025 saw the completion of 24 real estate projects valued at AED 4.5...
  • This momentum is part of a wider growth trajectory, with 726 projects currently under construction across the emirate.
  • Dubai’s real estate market registered 90,337 new real estate units during the first half of the year.
Business

Borouge Q2 net profit $193m

The H1 revenue stood at $2.72 billion.
  • Adjusted EBITDA for the second quarter was $440 million.
  • The company has proposed an increased minimum interim dividend of 8.1 fils per share for H1.
Business

Saudi Arabia’s real GDP up by 3.9 percent in Q2 2025: GASTAT

Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) grew by 3.9 percent in the second quarter of...
  • Flash estimates of GDP for Q2 say non-oil activities recorded the highest growth at 4.7 percent.
  • The estimates, released by GASTAT, said oil activities grew by 3.8 percent and government activities at 0.6 percent.