INSEAD Day 4 - 728x90

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Investment in Qatar free zones reaches US$1.3bn, says QFZ chairman 

DOHA, QATAR - Minister of State and Chairman of Qatar Free Zones Authority (QFZ) Dr. Ahmad bin Mohammed Al Sayed...

Business

Qatar Central Bank issues treasury bills, sukuk worth US$686m

DOHA, QATAR - The Qatar Central Bank issued treasury bills and sukuk with maturities of one week, one month, three...

Economy
Economy

Jordan, Japan ink pact to build AI ecosystem in Jordan

The two parties agreed on the general framework of the project in addition to a draft record of discussions and...
  • The two parties agreed on the general framework of the project in addition to a draft record of discussions and the structure of the initial implementation
  • The pact is in line with the objectives of the Jordanian Artificial Intelligence Policy seeks to adapt, deal and harness AI to serve the Jordanian economy
Economy

Saudi Arabia, UAE try to ease inflation pain of citizens

"A generous royal order was issued approving the allocation of financial support in the amount of SAR 20 billion (around...
  • Saudi Arabia is disbursing billions of dollars directly to citizens to ease the effects of inflation
  • The UAE has doubled the budget for its social security programme to AED 28 billion after a rise in fuel prices
Infographics

High commodity prices to keep inflation up

IMF has said food prices accounted for about 60 percent of last year’s increase in headline inflation in the MENA...
  • The war in Ukraine and related sanctions have triggered a sharp increase in commodity prices.
  • After leaping to a peak of $130 per barrel following Russia’s invasion, oil prices are expected to settle at an annual average of around $107 in 2022.
Economy

CEPA with India, Israel, Indonesia to help UAE economic growth

The comprehensive economic partnership agreements (CEPA) signed by the UAE with India, Israel and Indonesia this year will help the...
  • Comprehensive economic partnership agreements to help UAE's economy's growth by 2.6 percent by 2030
  • The UAE is holding talks with several other countries for signing similar agreements
Business

Turkish Airlines flights at pre-pandemic conditions

Turkish Airlines has announced that flights to Saudi Arabia have resumed to pre-pandemic conditions and Saudi citizens will now be...
  • Turkish Airlines announces that flights to Saudi Arabia have resumed to pre-pandemic levels
  • The airlines said that from June 20, 2022 the restrictions set by Türkiye due to COVID-19 has been lifted
Geostrategy

‘Displaced in Iraq to return to their homes by end of 2023’

The UNDP confirmed the implementation of 3,800 projects in five liberated Iraqi governorates and said that it is helping five...
  • The UNDP said five million internally displaced persons in Iraq will be sent back to their areas
  • The organization said 3,800 projects are being implemented in five liberated Iraqi governorates
Economy

Dubai Supreme Council moots monitoring panel for petroleum trading

Dubai Supreme Council of Energy on Monday discussed establishing a permanent committee to monitor petroleum product trading in Dubai and...
  • At its 71st meeting, the Council said that in 2021, savings were equivalent to 6.4 terawatts of electricity, approximately 12.5 percent of business as usual.
  • Since 2011, demand-side programs have contributed to avoiding 14.1 million tons of carbon dioxide emissions, saving nearly AED9 billion. 
Business

Dubai Customs’ department carries out nearly 62,000 inspections in Q1

The Sea Customs Centres Management, one of Dubai Customs’ departments, carried out 61,852 inspections and 120 seizures in the first...
  • The Sea Customs Centres Management, one of Dubai Customs’ departments, carried out 61,852 inspections and 120 seizures in the first quarter of 2022.
  • The smart scanning systems developed by Dubai Customs has increased the rate of identifying suspicious shipments.
Business

DEWA produces 700MW more energy, capacity rises to 14,117MW

DEWA has outlined expansion plans for the energy and water infrastructure based on demand forecasts until 2031, Al Tayer, MD...
  • DEWA has outlined expansion plans for the energy and water infrastructure based on demand forecasts until 2031, Al Tayer, MD and CEO of DEWA said
  • Al Tayer revealed that the clean energy share in Dubai’s energy mix has reached 11.5 percent and is expected to reach 14 percent by the end of 2022
Business

Emrill appoints new director

The company intends to speed up growth in the GCC.
  • Johnson will be responsible for building and developing the organization's strategic vision and accelerating growth across Emrill’s key services in the UAE and the wider GCC region
  • With over 25 years of senior management experience, Johnson has held managerial roles in the UAE, UK, Europe, and Australia

Investment in Qatar free zones reaches US$1.3bn, says QFZ chairman 

DOHA, QATAR - Minister of State and Chairman of Qatar Free Zones Authority (QFZ) Dr. Ahmad bin Mohammed Al Sayed...
Business

Company News

Latest News

UAE asks govt entities to buy locally produced food

The decision has been taken to support local production while the government continues to embrace open trade policy.
Economy

Dubai Customs and South Korea to boost trade ties

Dubai, UAE— Dubai Customs and a delegation from South Korea have discussed ways to further develop mutual trade cooperation. Dubai...
Economy

TBI denies loan for ‘fake projects’, says recovered 1 trillion, 500 billion dinars

Responding to a story published on one of the satellite channels, the bank explained the amount of the total loans...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

ACWA Power signs deal with China

The $1.5bn deal will herald a new energy transition phase.
  • The strategic partners from China include Industrial and Commercial Bank of China, Bank of China, SPIC Huanghe Hydropower Development Co,  and China Southern Power Grid
  • The deals will lay the ground for financing, investment and construction of ACWA Power’s global clean and renewable energy projects in Saudi Arabia and BRI countries
Business

Saudi Arabia and Kuwait to jointly develop Al-Durra gas field

Riyadh, Saudi Arabia—Saudi Arabia has signed a memorandum of understanding (MoU) with Kuwait on Sunday to develop Al-Durra gas field...
  • In March the two countries had agreed to develop the Al-Durra submerged gas field
  • The development of the field comes in implementation of the MoU signed by Saudi Arabia and Kuwait in 2019, which included the joint work to develop and utilize Al-Durra field
Business

Turkey’s auto sector grows 6% from Jan-Nov 2022

The sector witnessed the manufacturing of 1,210,331 cars in the period.
  • The sector witnessed the manufacturing of 1,210,331 cars in the period
  • The automotive exports grew by 5 percent over the past eleven months