INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

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

RTA inks agreement to develop entry/exit points for Dubai Harbor

DUBAI, UAE - The Roads and Transport Authority (RTA) of the Emirate has entered into a strategic partnership with ‘Shamal...

Geostrategy

Number of millionaires in BRICS likely to rise by 85 percent in 10 years, says report

DUBAI, UAE - The total investable wealth currently held in the BRICS bloc amounts to US$45 trillion and its millionaire...

Business
Business

UAE’s gender diversity policy sees more women in board positions

In 2020, women held 3.5 percent of all board positions in the UAE. The next year, the Securities and Commodities...
  • Aurora50, a social enterprise working towards gender parity in GCC boardrooms, and Mohammed Bin Rashid School of Government have conducted first-of-its kind gender diversity study.
  • The study report said 77 of the 868 board seats from the 115 listed companies on the ADX and Dubai Financial Market are now held by women.
Economy

Dubai records decade-high sales transactions in May

Mo’asher’s data for May highlights the continuous positive performance of Dubai's real estate sector throughout 2022.
  • The emirate's real estate market recorded a total of 6,652 sales transactions in May 2022, a 52 percent increase in volume and a value growth by 66 percent
  • Mo’asher’s data for May highlights the continuous positive performance of Dubai's real estate sector throughout 2022
Business

ENOC to open 10 new eLink stations

The group has seven eLink stations, five located in Dubai and two in Abu Dhabi.
  • The eLink station is a mobile fuelling format that enables motorists and customers with easy access and convenient fuelling services.
  • Since its launch, eLink has fuelled over 100,000 vehicles with a total fuel volume of nearly 5 million.
Geostrategy

Egypt, European Union review cooperation on climate and energy challenges

Egypt and the European Union have reviewed and discussed enhanced cooperation on climate, energy and industrial transformation challenges ahead of...
  • A joint statement was issued by EU and Egypt following a meeting between European Commission President Ursula von der Leyen and Egyptian President Abdel Fattah El Sisi.
  • The cooperation will have a particular focus on renewable energy sources, hydrogen, and energy efficiency.

Morocco and Israel face off in women basketball ‘friendly’ game

The Moroccan women's basketball team hosted their Israeli counterparts for the first time on Wednesday in a quiet slice of...
  • According to the Israel Basketball Federation (IBBA) website, it was the first time that Arab female players had faced an Israeli national team in their country
  • There were no spectators at the invitation only event
Geostrategy

Jordan king discusses food security with European Commission president

The meeting covered regional and international developments, especially the Palestinian cause.
  • The meeting covered regional and international developments, especially the Palestinian cause
  • The meeting also discussed integrating efforts to counter food security, environment challenges
Economy

GCC central banks raise interest rates

Taking a cue from US Federal Reserve's decision to hike interest rate, Saudi Arabia, the UAE, and Bahrain have raised...
  • The Saudi central bank raised repo rate by 0.5 percent to 2.25 percent from a previous 1.75 percent, and the reverse repurchase agreement (reverse repo) rate by 0.5 percent
  • The UAE was quick to follow Saudi Arabia in hiking interest rate
Business

Tecom lists 12.5% shares on DFM

Price for the 625,000,000 shares ranges between AED2.46 and AED2.67 per share.
  • Tecom Group, the owner, manager and operator of 10 business districts across Dubai, will float 625,000,000 shares
  • The qualified institutional offering and the exempt offer subscription period is expected to run from June 16-24
Business

Aramco sustainability report lays down plans for net-zero ambition

Aramco publishes its first sustainability report which outlines ways in which the company plans to further tackle emissions while delivering...
  • The report provides information on Aramco's efforts to support the broader energy transition
  • Aramco expects to update the sustainability report on an annual basis
Business

Qatar Chamber and Jordan to enhance private sector cooperation

Qatar Chamber and the Jordanian Ministry of Labor discussed Tuesday ways to enhance bilateral relations and the private sector's role...
  • Qatar Chamber First Vice-Chairman Mohamed bin Twar Al Kuwari met with Jordanian Minister Nayef Stetieh.
  • Jordanian Minister of Labor Nayef Stetieh pointed to the Qatari initiative to employ 20,000 Jordanians in Qatar.

RTA inks agreement to develop entry/exit points for Dubai Harbor

DUBAI, UAE - The Roads and Transport Authority (RTA) of the Emirate has entered into a strategic partnership with ‘Shamal...
Geostrategy

Company News

Latest News

Qatar Central Bank’s foreign reserves surge 6.82 percent in Nov

Doha, Qatar---The foreign currency reserves and liquidity of the Qatar Central Bank (QCB) increased by 6.82 percent to reach QR...
Economy

Lebanon parliament fails to elect president for the ninth time

Parliament is split between supporters of the powerful Iran-backed Hezbollah movement and its opponents, neither of whom have a clear...
Geostrategy

WHO member states agree to develop draft of pandemic accord in early 2023

GENEVA, SWITZERLAND - Member states of the World Health Organisation (WHO) Thursday agreed to develop the first draft of a...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

ADEX to provide US$25m funding to Togo to raise solar park capacity

The Abu Dhabi Exports Office (ADEX) has signed an agreement with Togo’s Ministry of Economy and Finance to raise the...
  • The Abu Dhabi Exports Office will provide a loan of US$25 million, while the Emirati company EMEA Power will undertake the construction and operation of the new complex
  • In 2021, Abu Dhabi Fund for Development financed the first phase of Mohamed bin Zayed Solar Energy Complex at a value of $15 million
Geostrategy

Foreign ministers of Jordan, Egypt, Iraq hold tripartite meeting

The ministers agreed to maintain "institutional" communication to follow up on the implementation of the trilaterally agreed upon projects and...
  • The ministers agreed to maintain "institutional" communication to follow up on the implementation of the trilaterally agreed upon projects and coordinate future steps
  • They also agreed to hold upcoming meetings within the framework of the tripartite cooperation mechanism in preparation for the fourth summit in Egypt next year
Arts & Culture

Saudi Arabia launches drive to embed role of culture in development

Riyadh, Saudi Arabia— Saudi Arabia has unveiled the "Culture & Green Future" initiative, aiming to enhance the role of culture...
  • Prince Badr bin Abdullah bin Farhan, Minister of Culture and Chairman of the National Committee for Education, Culture and Science, launched the drive
  • The initiative will include five themes, including culture and sustainable development to create the green future, climate change and local cultural policies