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

UAE is the most popular destination for global workers, says report

Dubai, UAE – The United Arab Emirates is the most popular country for international talent seeking employment visas, a report...

Business

Schneider Electric, Charge&Go ink pact

The aim is to develop EV charging facility in the UAE.

Business
Business

Commercial Bank closes $750m loan

The three- and the five-year facility was led by Mizuho Bank as coordinator.
  • The bank said that the syndication was launched at an initial value of $400 million but was oversubscribed at $940 million.
  • The proceeds from the facility was used to replace an existing facility and for Commercial Bank's general funding requirements.
Infographics

Oil revenues help boost MENA economic growth

Economic growth in the MENA region is forecast to accelerate to 5.3% in 2022 before slowing to 3.6% in 2023,...
  • Economic growth in the MENA region is forecast to accelerate to 5.3% in 2022 before slowing to 3.6% in 2023, according to the World Bank. Click for the country-wise breakup.
  • The global growth, meanwhile, is expected to slump from 5.7% in 2021 to 2.9% in 2022— significantly lower than 4.1% that was anticipated in January, it added.
Business

Borouge is in FTSE Series

ADNOC, Borealis are majority shareholders in Borouge.
  • FTSE Russell’s indices are used by investors globally to inform asset allocation decisions and support portfolio construction
  • Borouge is one of the world’s leading providers of innovative and differentiated polyolefin solutions for the infrastructure, energy, agriculture, mobility and healthcare
Economy

Turkish share of global exports reaches 1 percent: Erdogan

Turkish exports, Erdogan added, have now reached 217 countries and regions around the world.
  • Turkish exports, Erdogan added, have now reached 217 countries and regions around the world
  • He predicted that Turkey will exceed the export target of USD 250 billion set for the end of this year
Economy

Oman, Tanzania establish Joint Investment Fund

Oman foreign minister Al Busaidi anticipated the surge of trade deals between the two countries, especially after signing several MoUs.
  • Oman foreign minister Al Busaidi anticipated the surge of trade deals between the two countries, especially after signing several MoUs
  • He revealed that the two countries would later sign MoU to collaborate on economic, investment, tourism and energy projects
Economy

Saudi Arabia issues interim licenses for digital govt business

Saudi Arabia's Digital Government Authority issued the first package of interim licenses for digital government business to three companies -...
  • Saudi Arabia's Digital Government Authority issues interim licenses for digital government business to three companies
  • Elm, Takamol Business Services and Thiqah to develop and operate 15 existing digital government platforms and products
Economy

Germany, UAE can jointly invest in ‘new economy’, says top diplomat

Germany and the UAE as strong economic partners will continue trade but they can make joint investments in the 'new...
  • Germany and the UAE as strong economic partners will continue with their trade in the traditional economy
  • Both the countries can make joint investments in the 'new economy' that will help achieve their net-zero targets
Business

Gulf’s first dedicated furniture exhibition kicked off Monday

The first edition in Dubai catered to big-box retailers and wholesale traders, while the second edition is set to have...
  • The Expo Center Sharjah announced this, while confirming that the event will finish Thursday, 16th June.
  • The first two days are dedicated to trade visitors and the latter two days are dedicated to general visitors.
Economy

European Union spent $305 billion on environmental issues in 2021

The European Union's expenditure in 2021 on environmental protection, investments and consumption amounted to €292 billion ($305.4 bn), said Eurostat,...
  • The expenditure has risen by over 3 percent on average each year, with a total increase of 54 percent since 2006.
  • The expenditure on environmental protection remained stable over the last 15 years at about 2 percent of GDP.
Business

NEOM awards contracts for construction of high-speed transportation tunnels

NEOM has awarded two contracts to two consortiums for the construction of two tunnels with a length of 28 kilometers...
  • The two contracts were awarded to two consortiums consisting of engineering and construction companies.
  • NEOM said the project will be implemented in accordance with the best international practices used to protect the environment.

UAE is the most popular destination for global workers, says report

Dubai, UAE – The United Arab Emirates is the most popular country for international talent seeking employment visas, a report...
Business

Company News

Latest News

Xi visit marks 34 deals between Saudi, Chinese firms ahead of China-Arab meeting and China-GCC summit

The Chinese president's visit to Saudi Arabia aims at 'qualitative leap' in bilateral ties and the 'largest-scale diplomatic activity between...
Geostrategy

UAE’s non-oil foreign trade at the end of third quarter $445 billion

Abu Dhabi, UAE----UAE's non-oil foreign trade increased by 19 percent by the end of the third quarter, compared to the...
Economy

Saudi EXIM Bank, Korean Commercial Insurance Company sign MoU

Riyadh, Saudi Arabia---The Saudi Export-Import Bank signed an MoU with the Korean Commercial Insurance Company (K-SURE), which is Korea’s export...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

AD Ports Group, Africa Finance Corporation sign collaboration agreement

Abu Dhabi, WAM---AD Ports Group has signed a collaboration agreement with the Africa Finance Corporation (AFC), an infrastructure solutions provider...
  • They will collaborate on identifying, financing, developing and investing in much-needed ports, warehouses, maritime and logistics infrastructure projects across Africa.
  • Both parties will bring their technical expertise and financial capacity and networks to a range of development initiatives, focusing on brownfield and greenfield opportunities.
Economy

CBUAE imposes financial sanction on UAE exchange house

The financial sanction, amounting to AED1,925,000 ($524,166) followed the findings of an examination conducted by the CBUAE.
  • The financial sanction, amounting to AED1,925,000 ($524,166) followed the findings of an examination conducted by the CBUAE
  • The CBUAE, through its supervisory and regulatory mandates, works to ensure that all exchange houses, their owners and staff abide by the UAE laws
Economy

Debt-service payments from IDA’s countries to top $62bn in 2022: World Bank

The report highlights rising debt-related risks for all developing economies - low as well as middle-income economies.
  • The report highlights rising debt-related risks for all developing economies - low as well as middle-income economies
  • Rising interest rates and slowing global growth risk is tipping a large number of countries into debt crises