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.

Saudi GACA issues air carrier, airport classifications for December 2023

RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) issued its monthly classification index for air transport service...

Business

CBI 2023 net profit at $46.5m

The 2023 annual net profit rose 14 percent from 2022.

Business
Business

UAE to raise 2022 federal budget spending by $334.9m

The UAE will raise its 2022 federal budget spending by an additional Dh1.23 billion ($334.9 million), according to the Federal...
  • The FNC said on Twitter that the increased spending will come from the federal government's general reserves
  • The UAE's revenue is expected to grow by about Dh374.9 million
Economy

Food security main agenda of UAE delegation in Netherlands

A UAE delegation visits Netherlands to exchange knowledge and best practices in the food sector with their Dutch counterparts with...
  • The UAE delegation shared their wide range of expertise with their Dutch counterparts
  • The delegation learned first-hand about the latest innovations in Dutch agriculture technology
Economy

Qatar passenger traffic may surge by 105 percent in 2022: Report

The report of Qatar Aviation body is updated with the IATA Air Transport data (Airport-IS) related to schedule statistics until...
  • Passenger traffic anticipates a surge ranging from +90 percent to +105 percent compared to the year 2021
  • The report suggests that the number of flights at Hamad and Doha International Airports could reach about 28,000
Business

Kuwait awarded nearly $6 billion worth of tenders in 2021

The Central Agency for Public Tenders of Kuwait (CAPT) has awarded 235 tenders worth $5.9 billion in 2021. Secretary-General of...
  • The Ministry of Electricity, Water and Renewable Energy had won the lion's share of the tenders in 2021.
  • The Ministry of Health (MoH), with 25 tenders worth $364.6 million, grabbed the second position.
Business

Jordan, Egypt sign deal to develop and operate logistics areas

Jordan and Egypt held a meeting Monday to discuss mutual cooperation in the field of establishing, operating and developing logistic...
  • The two nations had signed a cooperation deal on the sidelines of the 30th session of the Joint Jordanian-Egyptian Higher Committee.
  • The virtual meeting between the two highlighted the importance of implementing partnership projects for strengthening self-sufficiency.
Business

Jordan’s FDI in 2021 reaches $622million, Arab region’s $53 billion

The Foreign Direct Investment (FDI) in Jordan amounted to $622 million in 2021, constituting 1.2 percent of the Arab region's...
  • UAE was the topmost FDI destination in the Arab world, with $20.7 billion or 39.1 percent of the region's total FDI.
  • UAE was followed by Saudi Arabia with $19.3 billion, Egypt with $5.1 billion, Oman with $3.6 billion, and Morocco with $2.2 billion.
Geostrategy

Arab League calls for efforts to counter global economic crisis

The Arab League says the world is facing challenges from political, economic crises and armed conflicts and that unified efforts...
  • Arab League says unified efforts are needed among countries in the region to confront challenges facing the global economy
  • The League says the world is facing a massive challenge from political, economic crises and armed conflicts
Geostrategy

Biden to visit Middle East from July 13-16; meet Saudi crown prince

US President Joe Biden will make history next month with a direct flight between Israel and Saudi Arabia where he...
  • Biden is likely to secure a boost in Saudi oil production, in an attempt to tame spiralling fuel costs and inflation at home
  • The US president will engage with nearly a dozen leaders during the brief yet intense journey, says a senior official
Business

Jordan energy ministry inks MoUs for copper, gold exploration

Jordan's Ministry of Energy signed an MoU with a local company to explore for copper and it also signed another...
  • Jordan's energy ministry inked an MoU with a local company to explore for copper in the Dana region of the Kingdom's south
  • The ministry signed an MoU with a Turkish company to explore for gold in the Abu Khashiba region, also in the south
Geostrategy

Sharjah, Costa Rica strengthen economic, cultural relations

Sharjah is building on the long-standing historical ties the emirate shares with Costa Rica to bolster and deepen diplomatic and...
  • The strong relations between Sharjah and Costa Rica are serving as a base for enhancing economic cooperation
  • The two sides can benefit through the mutual exchange of expertise in industries, culture, science, technology and economy

Saudi GACA issues air carrier, airport classifications for December 2023

RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) issued its monthly classification index for air transport service...
Business

Company News

Latest News

Dubai ruler evinces support for global economic growth

Reiterating Dubai's resolve to work in collaboration with its global partners, Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum...
Economy

African Development Fund mobilises $8.9bn for Africa’s low-income countries

ADF is the concessional window of the African Development Bank Group, providing grants and soft loans to the continent’s low-income...
Economy

Workers’ welfare key focus as GCC states strengthen, expand social protection systems, says Saudi minister

The participating Gulf countries highlight labor reforms to ensure protection of workers at the 17th Asia and the Pacific Regional...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Arts & Culture

650 artists from 62 nations seek to attend Tuwaiq Sculpture 2030 in Riyadh

Riyadh, Saudi Arabia--- Riyadh Art project will organize "Tuwaiq Sculpture 2030" from Jan 8 to Feb 10, 2023 under the theme...
  • Riyadh Art, the organizer, is one of Riyadh's mega projects launched by the Saudi government in 2019 under the leadership of the Crown Prince Mohammad bin Salman.
  • During the previous editions, more than 60 local and international sculptors participated in the event, which transforms the capital into an open art gallery.
Business

Abu Dhabi Airports, Bombardier to create aircraft hub in UAE

This represents Bombardier’s first full-service facility in UAE.
  • The development of the new Bombardier MRO at Abu Dhabi International Airport is one of several key investments Abu Dhabi Airports is supporting.
  • This represents Bombardier’s first full-service facility in the UAE and builds on its long-term commitment to their customers in this critical market.
Business

Vietnamese firms look to benefit from Saudi Vision 2030 opportunities

Riyadh, Saudi Arabia---  As many as 20 Vietnamese companies that participated in the Saudi-Vietnamese Business Forum on Tuesday evinced interest...
  • As many as 20 Vietnamese companies that participated in the Saudi-Vietnamese Business Forum.
  • The trade between the two countries amounted to about SR8.2 billion in 2021.