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

Dubai posts real estate transactions worth $3.5bn in week ending January 19

DUBAI, UAE - The real estate and properties transactions valued at US$3.5 billion (AED13 billion) in total during the week...

Business

EU worried Red Sea attacks could spark inflation

European Union economy commissioner Paolo Gentiloni warned that violence in the Red Sea sparked by Houthi attacks on shipping could...

Geostrategy
Economy

GCC, Pakistan launch 3rd round of free trade negotiations

The Chairman of the GCC Negotiating Team, Abdulrahman bin Ahmed Al-Harbi, stressed the importance of pursuing negotiations with Pakistan.
  • The Chairman of the GCC Negotiating Team, Abdulrahman bin Ahmed Al-Harbi, stressed the importance of pursuing negotiations with Pakistan
  • Free trade negotiations with Pakistan are part of GCC countries' effort to strengthen cooperation with their international partners
Business

Agthia eyes KSA expansion

The company to set up a manufacturing facility in Jeddah.
  • CAPEX spending is expected to start in the coming months, with first sales from the new Saudi facility expected in H2 2023.
  • The project, which is in response to strong demand from local customers, will further strengthen Agthia’s footprint in Saudi Arabia
Infographics

UAE and Qatar top 2021 GCC economies

The two Gulf countries score high consistently on all seven parameters used to measure the status of an economy.
  • The GCC comprises six countries—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
  • The World Bank has said the economies of the Gulf Cooperation Council (GCC) are projected to expand by 5.9 percent overall in 2022.
Economy

Qatar’s Export Unit Value Index surges by 61 percent in Q1

Qatar’s Export Unit Value Index (EXUVI) has increased by 61.05 percent  in Q1 2022 compared to Q1 2021. The Planning...
  • The Planning and Statistics Authority (PSA) released its Quarterly EXUVI for Q1 2022 as a new chain is added to statistical indicators calculated by PSA.
  • The addition is as per the policy of PSA in providing accurate statistical information and data that support the decision-maker.
Economy

Qatar government, banks behind its strong economic show: CEOs

The measures adopted by Qatar’s government and Qatar Central Bank proved decisive in countering the negative impacts of pandemic and...
  • The CEOs focused on various issues like environmental and social practices, corporate governance.
  • Future prospects of Qatar's economy are stable, as its banking sector enjoys flexibility and quality with high capital and liquidity, said Qatar National Bank CEO.
Business

ADGM invites public feedback on changes to commercial legislation

The Abu Dhabi Global Market (ADGM) has invited public feedback on the proposed amendments to its commercial legislation. As part...
  • As part of ADGM’s ongoing enhancement of regulatory framework, its Registration Authority (RA) is proposing changes, including the introduction of a late filing fees framework.
  • Rather than attracting a penalty, certain late filings will attract a late filing fee of $150 per month, capped at three months.
Business

Arts DAO NFT drop on June 5

The drop is being created in partnership with NFT artist Kristel Bechara.
  • The community’s NFT collection will feature 2,000 NFTs and prices will start from 0.49 ETH ($1,000).
  • Arts DAO is registered with the Dubai Multi Commodities Centre (DMCC).
Business

ADNOC acquires drilling units

The two premium jack-up units will be operational in Q3 2022.
  • The units, being acquired from Well Target Five Limited and Well Target Six Limited, are Gusto MSC design, premium independent leg cantilever rigs.
  • Since listing on the Abu Dhabi Securities Exchange in October 2021, ADNOC Drilling has expanded its fleet from 96 to 104 owned rigs.
Business

East Pipes lands $131m deal

The firm will supply pipes to Saline Water Corporation.
  • The financial impact of the one-year deal will be seen in the company's fiscal year 2022-2023
  • Established in 2010, East Pipes specializes in the manufacturing of steel pipes and joined the Saudi stock exchange earlier this year
Economy

Kuwait works with World Bank to implement national youth policy

The policy also aims to increase the number of beneficiaries from the capacity building programmes and measure the efficacy of...
  • The policy also aims to increase the number of beneficiaries from the capacity building programmes and measure the efficacy of the youth projects
  • The partnership has two axes - investment in human resources, and empowering the private sector to drive economic growth and create job opportunities

Dubai posts real estate transactions worth $3.5bn in week ending January 19

DUBAI, UAE - The real estate and properties transactions valued at US$3.5 billion (AED13 billion) in total during the week...
Business

Company News

Latest News

UAE embroidery art Al Talli makes it to UNESCO heritage list

Al Talli features decoration of collars, hems and cuffs of clothes using cotton or silk threads, intertwined with gold and...
Arts & Culture

Fans without tickets can attend World Cup matches after group stage ends

Doha, Qatar---World Cup fans without tickets can travel to Qatar and watch the rest of the matches after the group...
Business

Ukraine welcomes Russian oil price cap agreed by EU, G7

Ukraine welcomed a US$60 price cap on Russian oil agreed by the EU, G7 and Australia, saying it would "destroy"...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

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...
  • The number of voters entitled to participate in the voting process is 27,982 merchants
  • Twenty-three others will run for the elections of the ten commercial sectors that will join the Jordan Chamber of Commerce board of directors
Arts & Culture

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.
  • Diverse line-up of movies features local stories from new and established storytellers from Saudi Arabia, Egypt, Lebanon and UAE
  • VOX Cinemas will join forces with Sirb Productions, sister company of Myrkott Animation Studio, to produce a Saudi comedy
Economy

Saudi Arabia eyes hosting AFC Women’s Asian Cup 2026

Riyadh, Saudi Arabia— Saudi Arabia has submitted its bid to host the AFC Women’s Asian Cup 2026, a key moment...
  • Saudi Arabia’s move to bid for the upcoming AFC Women’s Asian Cup builds on its expression of interest earlier this year
  • The kingdom has embraced transformation at pace, and growing women’s leadership in sport is a crucial element