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.

NEOM announces Aquellum as futuristic lifestyle community

NEOM, SAUDI ARABIA - The Board of Directors of NEOM has announced Aquellum, a luxury and experiential space embedded within...

Business

Israel is starving Gaza residents, says NGO

RAMALLAH, PALESTINIAN TERRITORIES - Everyone in Gaza is going hungry and about 2.2 million people are surviving day by day...

Geostrategy
Business

MA’ADEN, GlassPoint to develop heat plant

The facility will be the world's largest solar process heat plant.
  • When completed, the 1,500 MW solar steam facility will help MA’ADEN achieve sustainability goals by reducing carbon emissions by over 600,000 tons annually.
  • This represents more than 50 percent reduction of carbon footprint in MA’ADEN’s Alumina refinery and 4% of MA’ADEN’s overall carbon footprint.
Business

ADNOC L&S acquires 3 LNG vessels

In April the company announced it will acquire two LNG vessels.
  • All five new-build LNG vessels will be built at the Jiangnan Shipyard in China.
  • ADNOC L&S, the shipping and maritime logistics arm of ADNOC, is region’s largest shipping and logistics company.
Business

Kuwait crude oil export to Japan climbs 7.6% to 6.61m barrels

Kuwait's export of crude oil to Japan has climbed 7.6 percent to 6.61 million barrels, or 220,000 barrels per day...
  • Kuwait overtook Qatar to become Japan's third-biggest oil provider last month
  • Japan's overall imports of crude oil grew 9.9 percent year-on-year to 2.92 million bpd, up for the ninth month in a row
Business

dnata to invest $100m in green ops

dnata, global air and travel services provider, announced that it would invest $100 million in green operations in the next...
  • The company’s ongoing investment in infrastructure, equipment and process improvement will support it to achieve its strategic objectives.
  • The company said it aims to reduce its carbon footprint by 20 percent by 2024, and by 50 percent by 2030.
Business

AFZ e-commerce grows 45 percent

The Free Zone announces this at Seamless Middle East 2022.
  • AFZ said the growth can be attributed to the authority's diverse set of offerings, primarily warehouse solutions and the evolving e-commerce sector in the UAE.
  • The dedicated logistics cluster also benefits e-commerce businesses by providing access to end-to-end warehousing capabilities, AFZ said.
Economy

Qatar launches Advanced Manufacturing Hub in partnership with WEF

The cooperation seeks to transform Qatar into an advanced economic and industrial hub by enhancing its international connections network.
  • The cooperation seeks to transform Qatar into an advanced economic and industrial hub by enhancing its international connections network
  • Qatar's AMHUB is one of 13 platforms that were launched by WEF all over the world whose aim is to enhance the future of the industrial sector internationally
Business

Demand for garments, footwear stagnant in Jordan

Asaad Qawasmi, the Jordan Chamber of Commerce's representative for the apparel, fabrics, footwear, and jewelry sector, said that demand has...
  • Asaad Qawasmi, the Jordan Chamber of Commerce's representative for the apparel, fabrics, footwear, and jewelry sector, said that demand has plateaued since the Eid Al-Fitr
  • He expressed optimism that the market was expected to improve in about three weeks from now with the return of expats and visitors for the summer break
Science

UAE to chair Committee on Peaceful Uses of Outer Space

The UAE has been chosen to lead the Committee on The Peaceful Uses of Outer Space (COPOUS) out of 100...
  • COPOUS is one of the largest UN committees playing a major role in governing the exploration and use of space
  • The Committee is part of The United Nations Office for Outer Space Affairs (UNOOSA), and reports to the Fourth Committee of the General Assembly
Economy

Jordan’s Petra sees 86,000 visitors in May 2022

The figures showed that 60,640 of the visitors were of foreign nationalities, while 25,670 were of Arab and Jordanian nationalities.
  • The figures showed that 60,640 people of visitors were of foreign nationalities, while 25,670 were of Arab and Jordanian nationalities
  • In comparison, a total of 87,622 people visited the city in May 2019, 81,268 of which were foreigners and 4,873 were Arabs and Jordanians

Queen Elizabeth celebrates 70th year on throne

Queen Elizabeth II's Platinum Jubilee celebrations will be only the ninth such celebration by a British monarch since King George...
  • Both she and Queen Victoria, who ruled from 1837 to 1901, have had silver, golden, and diamond events to mark their 25th, 50th, and 60th years as monarchs
  • Elizabeth is the only one to celebrate her 70th year on the throne

NEOM announces Aquellum as futuristic lifestyle community

NEOM, SAUDI ARABIA - The Board of Directors of NEOM has announced Aquellum, a luxury and experiential space embedded within...
Business

Company News

Latest News

US unveils high-tech B-21 stealth bomber

PALMDALE, UNITED STATES - The United States on Friday unveiled the B-21 Raider, a high-tech stealth bomber that can carry...
Business

Jordan to elect commerce chamber boards in poll

Amman, Jordan— The commercial sector across Jordan will go to the polls on Saturday to choose representatives in the boards...
Economy

VOX Cinemas unveils debut slate of original Arabic films

Diverse line-up of movies features local stories from new and established storytellers from Saudi Arabia, Egypt, Lebanon and UAE.
Arts & Culture
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

G7, EU agree oil price cap to reduce Russia war funding

The price cap is designed to make it harder to bypass the sanctions by selling beyond the EU. Poland's ambassador...
  • The price cap, negotiated between the G7 group and the European Union, will come into effect with an EU embargo on Russian crude oil from Monday
  • The embargo will prevent shipments of Russian crude by tanker vessel to the EU, which account for two thirds of imports
Business

SABIC signs pact with Aramco, PKN ORLEN

They will study feasibility of Polish petrochemical sector investment.
  • The agreement laid the first cornerstones towards a potential partnership with Aramco and PKN ORLEN in petrochemical production, said SABIC acting CEO.
  • In August, Aramco and SABIC Agro-Nutrients Company obtained the world's first independent certifications recognizing the production of blue hydrogen and blue ammonia.
Geostrategy

Energy crisis driving climate-friendly power savings, says IEA

PARIS, FRANCE - Russia's invasion of Ukraine has driven countries across the world to boost energy efficiency, creating "huge potential"...
  • Governments have scaled up fossil fuel subsidies to cushion the impact of rising energy costs on households in the wake of the Ukraine conflict.
  • According to the IEA research, governments, industry and households invested a record $560 billion this year in energy efficiency measures.