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.

Abu Dhabi’s non-oil foreign trade grows by 9% in 2024 to $83bn

Abu Dhabi, UAE --  Abu Dhabi Customs reported a 9 percent increase in the emirate’s non-oil foreign trade in 2024,...

Business

ADNOC Drilling approves $788m dividend

The final cash dividend of $394m for 2024 was approved at the AGM.

Business
Videos

New industrial policy seeks to diversify Saudi economy

The program, launched by Saudi Crown Prince and Prime Minister Mohammed bin Salman, has identified more than 800 investment opportunities...
  • The new industrial strategy envisages tripling the country’s industrial domestic product and doubling the value of industrial exports to $148.2 billion.
  • The Crown Prince said the program will make the kingdom a leading industrial power that “contributes to securing global supply chains and exporting high-tech products to the world”
Business

Qatar Digital Incubation Center fostering 25 new startups

The selection was made from among 42 competing startups which presented their projects in front of a specialized judging panel.
  • The selection was made from among 42 competing startups which presented their projects in front of a specialized judging panel
  • The startups in IdeaCamp will enjoy DIC guidance and support throughout their incubation, as well as office space for two years
Economy

UAE refunds tax incurred on building, operating mosques

The FTA will begin accepting applications for refunding input tax incurred on building mosques from Nov 1.
  • The FTA will begin accepting applications for refunding input tax incurred on building mosques from Nov 1
  • Refund of input tax includes expenses related to the actual construction process of the mosque
Economy

Egypt to grant ‘golden license’ in order to boost investment

The license will allow investors to buy or rent lands, operate and manage the projects and allocate the necessary facilities...
  • Egyptian President Abdel Fattah Al-Sisi has issued a directive during the inauguration of the first International Forum and Exhibition for Industry
  • The decision came following Egypt’s agreement with the International Monetary Fund, allowing the country to obtain an extended credit facility of $3 billion
Business

Savola Group posts 36% increase in profit

It recorded $173m profit in the first nine months of 2022.
  • The food company said in a bourse filing that it had also posted a 20 percent revenue jump to $5.60 billion
  • For the third quarter of 2022, net profit jumped 34 percent to $44 million, from $33 million in the same period last year
Geostrategy

Upcoming climate events to boost UAE-Egypt ties

The bilateral relations between the two countries are based on mutual respect and appreciation. The significant advancement in the bilateral...
  • The upcoming events will witness further cooperation between the two countries, especially with Egypt hosting COP27 in Sharm El-Sheikh and the UAE hosting COP28 in 2023
  • The UAE is the largest investor in Egypt, with over 1,250 Emirati firms operating in the country. Egypt, meanwhile, was among the first nations to recognize the formation of UAE
Business

QLM profits fall by 33 percent in first nine months of 2022

The company had reported a net profit of $12.27mn for H1.
  • The gross written premium for the six-month period that ended on June 30, 2022 had increased by 33 percent to QR742mn.
  • QLM Life & Medical Insurance Company was established in 2018, and was listed on Qatar Stock Exchange last year, with a capital of QR 350 million. 
Business

Sheikh Khaled bin Mohamed bin Zayed meets CEOs of INPEX, BP

Energy security, enhancing partnerships were discussed.
  • The meeting discussed ways of harnessing opportunities in renewables and hydrogen.
  • The meetings deliberated on ways of expanding existing relationships to enable a more sustainable future.
Business

DEWA commissions 389 11kV substations in Q3 of 2022

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has commissioned 389 11kV substations in Dubai in the third quarter...
  • DEWA now has 77 substations of 33kV in service, and 42,529 medium voltage (11Kv or 6.6Kv) substations.
  • These stations are mainly located at Wadi Al Safa Fifth, Al Merkad, Madinat Al Matar and Al Yalayis 1.
Geostrategy

Investment to tackle climate change falls in 2022, says UNCTAD

Cross-border investment in climate change mitigation and adaptation is projected to decline in 2022 against the backdrop of a global...
  • Mitigation projects accounted for 94 percent of international climate investments, whereas adaptation ones continued to lag far behind.
  • Developed economies made up two thirds of international project finance deals and greenfield investments in renewables.

Abu Dhabi’s non-oil foreign trade grows by 9% in 2024 to $83bn

Abu Dhabi, UAE --  Abu Dhabi Customs reported a 9 percent increase in the emirate’s non-oil foreign trade in 2024,...
Business

Company News

Flynas to take off for Belgrade

AD Ports, Kuwait GAC sign MoU

Barq EV launches smart mobility

ADNOC to pay $342m in dividend

ADH invests $100m in DEWA

Latest News

Dubai Customs logs 13% growth in transactions in first nine months of 2023

DUBAI, UAE – Dubai Customs has experienced a robust 13 percent increase with 21.6 million transactions during the first nine...
Economy

Israel police claim Hamas was not aware of a music festival on October 7

DUBAI - An investigation carried out by Israeli police has concluded that Hamas, involved in the October 7 attack, had...
Geostrategy

NBM’s board approves increasing Murabaha sukuk issue to $133m

RIYADH, SAUDI ARABIA - National Building and Marketing Co’s (NBM) board of directors approved an increase of Murabaha SAR-denominated sukuk...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

$5.8bn worth deals signed in first four days of Dubai Airshow 2023

DUBAI, UAE – Tawazun Council signed 16 deals, worth US$1.3 billion (AED 4.87 billion), with local and international companies on...
  • The first day saw announcement of contracts worth US$1.2 billion and the second day US$1.8 billion
  • The total value of contracts announced on third day stood at US$1.3 billion
Business

UAE defense ministry orders 100 REACH-S unmanned aircraft from EDGE

DUBAI, UAE - EDGE, one of the world's leading advanced technology and defense groups, announced its first major order from...
  • ADASI, an EDGE entity which designs and develops autonomous systems, will oversee the production and deliver the contract to the UAE Armed Forces.
  • The REACH-S will provide the UAE Armed Forces with a cost-effective, 24-hour intelligence, surveillance and reconnaissance (ISR) capability.
Business

Tabreed 9M profit at $218m

This is due to the steady growth in its consumption volumes.
  • Tabreed delivers strong growth, with revenue soaring 10 percent to US$490 million in January-September 2023.
  • This is a 10 percent increase in revenue year-on-year, compared to US$460 million in January-September 2022.