INSEAD Day 4 - 728x90

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

Key MENA trends: M&A surge to five-year high, Saudi port activity rises in May

Qatar's foreign reserves rise 3.6 percent year-on-year despite a dip in bonds and treasury holdings, Iraq releases Australian and Egyptian...

Economy

With AI and more shade, Saudi Arabia set for a searing hajj

Riyadh, Saudi Arabia -- With artificial intelligence, more shade and misting machines, Saudi authorities are preparing to welcome more than...

Geostrategy
Economy

Technological innovations drive climate action across GCC, say UAE, Saudi leaders at COP27

The Kingdom has moved from ambition to action during the past two years to empower people, protect the planet and...
  • The Kingdom has moved from ambition to action during the past two years to empower people, protect the planet and shape new horizons, says Saudi minister
  • The COP27 in Egypt, COP28 in the UAE next year and the Saudi Green Initiative are all opportunities that we can move forward, says UAE minister Mariam Almheiri
Science

UAE ministry launches Green Business Toolkit 2.0 at COP27

The Ministry of Climate Change and Environment (MOCCAE) introduced the second edition of the UAE Green Business Toolkit in partnership...
  • The move aligns with the UAE’s pathway to net-zero and supports sustainable economic development.
  • The UAE Green Business Toolkit 2.0 seeks to benefit from the business sector's increasing awareness about the importance of achieving net-zero.
Business

GE, IRENA sign pact at COP27 to support energy security

SHARM EL SHEIKH, EGYPT - GE (NYSE:GE) signed a framework agreement with the International Renewable Energy Agency (IRENA) to support...
  • GE, IRENA agreed to cooperate across several aspects including decarbonisation, thought leadership, adoption and sustainable use of renewable energy.
  • GE and IRENA will explore how to jointly support decarbonisation efforts in critical markets and sectors.
Economy

TotalEnergies CEO heckled by climate activists at COP27

Sharm el Sheikh, Egypt—French giant TotalEnergies' chief executive was confronted by climate activists Friday at the COP27 summit in Egypt, where...
  • The company's Chief Executive Patrick Pouyanne was confronted by a number of activists, forcing him to briefly take cover in the Guinean pavilion
  • Global Witness estimates that the number of lobbyists at this year's climate summit has increased by 25 percent compared to last year's gathering in Glasgow
Geostrategy

Bahrainis vote to elect members to Council of Representatives

People are choosing their candidates for the 40-member Council of Representatives, one of the two chambers of the bicameral parliament.
  • People are choosing their candidates for the 40-member Council of Representatives, one of the two chambers of the bicameral parliament
  • Those living abroad or visiting foreign countries had an advance polling on Tuesday in the 37 voting centers set up in diplomatic missions across the world
Business

PIF to sell Tadawul stake

It will sell 10% of its stake, amounting to 12m shares.
  • According to a bourse filing, PIF, which has over $600 billion in assets, is selling 12 million shares in Tadawul Group
  • The fund has hired both HSBC Saudi Arabia and Morgan Stanley Saudi Arabia to act as joint global coordinators, as well as Al Rajhi Capital to act as joint book-runner
Business

Gulf Arab’s first casino being opened at Ras Al Khaimah resort

The casino would mark a watershed moment for the Gulf region.
  • The casino would mark a watershed moment for the Gulf region
  • The region has traditionally imposed stricter Islamic rules than other parts of the Middle East
Economy

UAE launches National Net Zero by 2050 Pathway

The pathway, unveiled at COP27, sets the timeframe and identifies the mechanisms of implementing the UAE Net Zero by 2050...
  • The pathway, unveiled at COP27, sets the timeframe and identifies the mechanisms of implementing the UAE Net Zero by 2050 Strategic Initiative, introduced in October 2021
  • The UAE will adopt several measures to mitigate climate change such as increasing the share of clean energy in its energy mix and scaling up the use of clean electricity
Geostrategy

Tel Aviv-Doha World Cup flights draws criticism from Qatari activists

While Qatar's Gulf neighbours Bahrain and the United Arab Emirates established relations with Israel through agreements mediated by the United...
  • The protest led by Qatar Youth Against Normalization was small but noticeable in a state where citizens very rarely speak out against authorities
  • Qatar has stated that normalisation with Israel is contingent to the establishment of a Palestinian state
Economy

Companies have 50 days to achieve Emiratisation targets: Ministry

Dubai, UAE--- UAE's Ministry of Human Resources and Emiratisation (MoHRE) has said it was keen to support and empower private...
  • Ministry of Human Resources and Emiratisation has said it was keen to support and empower private sector companies in the country and help them achieve their targets.
  • Companies with 50 or more employees are targeted to raise their Emiratisation rate by 2 percent of their overall skilled jobs.

Key MENA trends: M&A surge to five-year high, Saudi port activity rises in May

Qatar's foreign reserves rise 3.6 percent year-on-year despite a dip in bonds and treasury holdings, Iraq releases Australian and Egyptian...
Economy

Company News

TAQA Group’s Q1 income up 37%

Amanat reports 39% growth

Fertiglobe revenue grows by 118 percent

Emirates, Jafza sign MoU

SABIC posts 33% rise in profit

Latest News

NCSC seeks to regulate Jordan’s cybersecurity market

AMMAN, JORDAN - National Cyber Security Center (NCSC) seeks to regulate the Kingdom's cybersecurity market by outlining and endorsing the...
Geostrategy

Hyundai Motor, Mubadala ink MoU

The two firms will seek to unlock investment opportunities.
Business

Tabreed gets US$163m Green Revolving Credit Facility

ABU DHABI, UAE -  Tabreed on Thursday announced the successful closure of its inaugural US$163 million (AED600 million) Green Revolving...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

MBC IPO retail subscription begins

MBC Group runs a group of TV and radio channels.
  • The subscription process for the retail tranche of MBC Group will run for five days until December 18.
  • The Capital Market Authority approved, on November 21, the company's request to float 33.25 million shares in an IPO.
COP28 UAE

World Bank to expand climate funding in MENA by $10 billion

Brhane said the World Bank integrated climate into all its work across the MENA region and is on track to...
  • The funding supports both reducing net emissions and resilience projects, said Meskerem Brhane, the bank's Regional Director for Sustainable Development, MENA.
  • She added that by embracing green growth strategies, the region's GDP could potentially grow to over $13 trillion by 2050.
Business

UAE, Korean firms ink pact

The partnership will utilize low-cost indoor farming solution.
  • The facility will be co-located within livestock farms to localize animal feed in Al Ain, UAE.
  • The facility will be using 95 percent less water per kilogram versus traditional farming means.