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.

FAB issues first Sukuk globally in 2024

ABU DHABI, UAE - First Abu Dhabi Bank (FAB) has issued a five-year US$800 million Sukuk at US Treasury +85bps,...

Business

Baims acquires Orcas Edtech

The firm plans to incorporate one-to-one tutoring services.

Business
Business

DAMAC buys Swiss diamond jeweler

De Grisogono SA, a Swiss luxury jeweler filed for bankruptcy in 2020.
  • The acquisition came three years after the Group purchased Italian fashion group Roberto Cavalli SpA
  • Damac announced the launch of Safa One by de Grisogono, a project with cascading waterfalls and hanging gardens
Economy

Saudi central bank net foreign assets climb by $1.07bn in April

The net foreign assets of Saudi central bank rose by SR4.0 billion ($1.07 billion) to SR1.63 trillion in April, according...
  • The kingdom's net foreign assets increased by 0.2 percent from SR1.63 trillion in March
  • Over the same period, the central bank's total assets fell by SR39.4 billion to SR1.85 trillion
Economy

Jordan’s oil expenditure up by nearly 50 percent in Q1 2022

Jordan's oil bill went up by 49.1 percent in Q1 2022, compared to the same period in 2021, the Department...
  • The value of the oil bill in Q1 2022 increased to JD761 million compared to JD510 million in the same period of 2021.
  • Jordan’s crude oil import amounted to JD126 million, followed by gasoline with JD142 million and kerosene with JD9 million.
Business

Jordan, UAE review cooperation in improving quality higher education

Jordan and the United Arab Emirates (UAE) have discussed exchanging expertise between them, especially in the field of accreditation and...
  • A meeting was held between the education ministers of both the countries for exchanging expertise in higher education.
  • The mechanism of quality assurance procedures at the institution and program level was also discussed in the meeting.
Economy

Germany inflation highest in 50 years as energy, foodstuff prices rise

Germany hit the highest level of inflation in 50 years due to a rise in the cost of living, energy,...
  • The data provided by the Federal Statistical Office of Germany indicate that levels of inflation reached 7.9 percent in May 2022.
  • The Federal Statistical Office of Germany blamed the war in Ukraine and the rise in oil prices for hitting this record high inflation.
Business

ADX lists GFH Financial Group

The listing is set to expand GFH’s investor base and boost its share liquidity.
  • This is GFH’s fourth regional listing with its shares already listed and actively traded on the Bahrain Bourse, Boursa Kuwait and the Dubai Financial Market
  • The listing of GFH Financial Group on Abu Dhabi Securities Exchange brings the number of dual listings on the exchange to four
Business

Saudi Arabia, Seychelles to expand cooperation in tourism sector

Saudi Arabia and Seychelles will form a partnership to boost cooperation and exchange expertize in tourism sector which includes planning,...
  • Saudi’s tourism ministry signed an MoU with the Ministry of Foreign Affairs and Tourism of Seychelles.
  • The MoU aims at supporting the efforts of tourism institutions and associations via holding conferences.
Business

ADNOC’s Borouge IPO its largest ever, oversubscribed 42 times

ADNOC and its partner Borealis AG have announced the completion of bookbuild and public subscription for the IPO of Borouge,...
  • The book was covered within less than one hour of the start of the public subscription process.
  • Borouge is the fourth company that ADNOC has brought to market since 2017 and follows the successful IPOs of ADNOC Distribution, ADNOC Drilling and Fertiglobe.
Business

ICD net profit $2.74 bn

The Group's revenue was AED 169.4 bn, up 24.5 percent.
  • The rise in revenue was attributed to rallying commodities prices in oil and gas, higher levels of activity in transportation.
  • The Group's share of equity decreased by 1 percent to AED190.6 billion.
Business

French companies show interest in Saudi entertainment market

Major French companies have expressed their interest in accessing the Saudi market and investing in the tourism and entertainment market...
  • These companies can inaugurate headquarters in Riyadh to maximize benefits from these opportunities, said Laurent Germain, president of Saudi-French Business Council.
  • Germain said that Saudi Arabia has amazed the world with the entertainment industry within a short period of time.

FAB issues first Sukuk globally in 2024

ABU DHABI, UAE - First Abu Dhabi Bank (FAB) has issued a five-year US$800 million Sukuk at US Treasury +85bps,...
Business

Company News

Latest News

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"...
Geostrategy

Supporting India’s G20 presidency is a priority for UAE, says Minister

The UAE's Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan has said that the Gulf...
Geostrategy

UAE 51st National Day: Central Bank launches new 1000 dirham note

Abu Dhabi, UAE---The Central Bank of the UAE launched an AED-1000 denomination note as part of the country's 51st anniversary...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

EU gives US$131 million to WHO Universal Health Coverage Partnership

GENEVA, SWITZERLAND - The World Health Organization (WHO) and the European Commission agreed on reinforcing a decade-long collaboration to accelerate...
  • EU contribution will focus on strengthening health systems to make them more resilient and responsive to natural, climate or human-made disasters.
  • The partnership with WHO is a key deliverable of the new EU Global Health Strategy adopted by the European Commission.
Business

Dubai records over $1.3 billion in weeklong real estate transactions

Dubai, UAE---A total of 1,600 real estate transactions worth over AED4.8 billion ($1.3 billion) were conducted during the week ending...
  • The DLD said that the emirate saw the sale of 176 plots for AED998.19 million, as well as 1,052 apartments and villas for AED 2.32 billion.
  • Jabal Ali First recorded the most transactions for this week with 81 sales worth AED285.43 million.
Economy

Jordan cabinet approves 2023 draft budget law

Council of Ministers okayed a draft law amending the real estate sale tax law for 2022, aimed at stimulating investment...
  • Council of Ministers okayed a draft law amending the real estate sale tax law for 2022, aimed at stimulating investment in the sector
  • Cabinet also approved a draft law amending Jordanian Nationality Law for 2022 to align texts related to nationality restoration