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

Ras Al Khaimah witnesses rise in issue of valid business licenses in 2023

RAS AL KHAIMAH, UAE - The economic growth of the Emirate continued to accelerate in 2023, with the Department of...

Business

Cisco identifies major AI trends for 2024

DUBAI, UAE – Developments in Artificial intelligence (AI) have been impacting businesses, governments and economies across the world. Advancements in...

Business
Business

UAE and European Union look to deepen cooperation

The UAE and European Union are looking to deepen cooperation in many fields, and in particular in sub-Saharan Africa. In...
  • The two sides discussed political priorities and related programs, including the UN Sustainable Development Goals, the European Green Deal and global recovery
  • They also discussed the latest economic and trade developments in Africa and a number of essential issues in the continent
Geostrategy

FIFA says Israeli citizens can travel to Qatar World Cup

Israeli citizens will be allowed to travel to Qatar to watch football's 2022 World Cup, despite the absence of diplomatic...
  • Qatar does not have diplomatic ties with Israel. It supports Hamas and cut commercial ties with Israel in 2009.
  • The two countries had established commercial relations in 1996, when then Israeli prime minister Shimon Peres visited Qatar's capital Doha.
Business

Savola Foods buys Egybelg

The Saudi firm plans to invest $91m in Egypt.
  • Savola will allocate 730 million pounds toward rehabilitating the newly acquired firm and up to 400 million pounds to upgrade factories and raise production capacity
  • With three factories across Egypt and five production lines, Cairo-based Egybelg manufactures and distributes bakery goods
Economy

UAE, Philippines ink pact on mutual promotion, protection of investments

Protection and Promotion of Investments Agreements aim to protect investments from all non-commercial risks like nationalisation, expropriation, and sequestration.
  • Protection and Promotion of Investments Agreements aim to protect investments from all non-commercial risks like nationalisation, expropriation, and sequestration
  • The agreement also provides compensation for the investor if his investments are destroyed as a result of wars, conflicts, civil disobedience, or demonstrations
Economy

GCC, Korea discuss intra-trade during FTA talks

The two sides launched their negotiations on June 6, during which they discussed many topics aimed at enhancing investments between...
  • The two sides launched their negotiations on June 6, during which they discussed many topics aimed at enhancing investments between the two sides
  • Head of the GCC Negotiating Team, Abdurrahman bin Ahmed Al-Harbi stated that the agreements follow the directives of the leaders of GCC member states
Economy

UAE’s trade surplus with GCC countries at Dh135 bn in 2021

The figures showed a 26 percent increase in trade between the UAE and GCC countries in 2021.
  • The figures showed a 26 percent increase in trade between the UAE and GCC countries in 2021
  • UAE imports from GCC countries in 2021 rose in value to AED56.3 billion, weighing 27.9 million tonnes
Geostrategy

UAE tops Arab countries as best Foreign Direct Investment hub

The UAE remained the largest recipient of FDI with flows increasing from US$19.88 billion in 2020 to US$20.7 billion in...
  • The UAE remained the largest recipient of FDI with flows increasing from US$19.88 billion in 2020 to US$20.7 billion in 2021
  • The report showed that global flows of FDI recovered to pre-pandemic levels last year, reaching US$1.58 trillion, an increase of 64 percent compared to 2020
Economy

Saudi Industrial Production Index rises by 26 percent in April

Saudi Arabia's Industrial Production Index (IPI) in April 2022 increased by 26.7 percent compared to the same month last year....
  • Growth attributed to the high production in mining, quarrying and manufacturing activity.
  • The IPI is an economic indicator that reflects the relative changes of the volume of industrial output.
Economy

UAE strengthens ties, strategic partnership with South Korea

The UAE Minister held a series of high-level meetings with government and business leaders in South Korea to strengthen bilateral...
  • The UAE Minister held a series of meetings with govt leaders in South Korea
  • The Minister held meetings with business leaders in South Korea
Economy

MEASA has world’s highest growth potential but untapped largely: Report

Middle East, Africa and Southern Asia (MEASA) has the world’s highest growth potential, according to a report by the New...
  • Over the last decade, MEASA GDP per capita has almost doubled in real terms, outpacing the growth of the rest of the world.
  • However, while this century's entire world population growth projected will originate from MEASA, yet it accounts only for 15 percent of global GDP.

Ras Al Khaimah witnesses rise in issue of valid business licenses in 2023

RAS AL KHAIMAH, UAE - The economic growth of the Emirate continued to accelerate in 2023, with the Department of...
Business

Company News

Latest News

ADNOC signs catering deals worth $272m

Four Abu Dhabi firms will provide services to ADNOC companies from 2022-27.
Business

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...
Arts & Culture

Abu Dhabi Airports, Bombardier to create aircraft hub in UAE

This represents Bombardier’s first full-service facility in UAE.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

UAE, Saudi Arabia sign MoU for mutual recognition of maritime training

LONDON, UK - The UAE Ministry of Energy and Infrastructure (MOEI) and the Transport General Authority (TGA) of the Kingdom...
  • The move is in line to ensure the highest standards of maritime safety and within the outcomes of the Saudi-Emirati Coordination Council.
  • This is as per the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers 1978 and its amendments.
Business

KEZAD, Al Eskan Al Jamae merge

The merger creates Abu Dhabi’s largest integrated staff accommodation company.
  • The combined entity will have an equity value of approximately AED7 billion ($1.90 billion). This transaction would be effected through an equity share swap with no cash exchange.
  • For the nine months ended 30 September 2022, revenue was AED275 million for KEZAD Communities and AED205 million for EAJ. 
Business

Ma’aden plans to become one of the top ten global aluminium producers

Key executives from Ma’aden’s aluminum and smelter department participated in the three-day conference Arabal 2022 in Cairo.
  • Key executives from Ma’aden’s aluminum and smelter department participated in the three-day conference Arabal 2022 in Cairo
  • With over 400 high-level delegates in attendance, Ma’aden had a prominent presence at the event showcasing various products and demos