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

Emirates to recruit 5,000 crew members in 2024

DUBAI, UAE – Emirates will hire 5,000 people as it awaits the arrival of its fleet of Airbus A350s. The airline...

Business

Several MoUs signed at Future Minerals Forum in Saudi Arabia

RIYADH, SAUDI ARABIA – The third edition of the Future Minerals Forum (FMF), organized by the Kingdom’s Ministry of Industry...

Business
Business

ADC to start trading on ADX

The firm was established by ADQ and Chimera Investment.
  • Trading follows the conclusion of ADC's public subscription to retail and professional investors
  • The listing of ADC offers target businesses the opportunity to access capital in Abu Dhabi's capital markets
Business

Dubai records $2.36 billion in weeklong real estate transactions

Dubai has recorded 2,884 real estate and properties transactions at the value of AED8.7 billion ($2.36 billion) in total during...
  • Dubai Land Department said that 297 plots were sold for AED1.59 billion, as well as 2,116 apartments and villas for AED4.75 billion.
  • The total value of mortgaged properties for the week reached AED2.02 billion and 89 properties were granted between first-degree relatives worth AED413 million.
Business

Gulf Print and Pack 2022 concludes, records deals worth $6.8m

The Gulf Print and Pack (GPP) 2022 concluded at the Dubai World Trade Centre, recording deals worth more than AED...
  • GPP organisers said the decision to move from a four-day show in past editions to a three-day event in 2022 was vindicated with daily attendance increasing by 15 percent.
  • Sales of machinery and equipment were the biggest contributors to the total, with Canon closing over $2.5 million in sales and Kodak reporting in excess of $1 million.
Business

Al Seer buys two new ships

The firm, a subsidiary of IHC, acquired the vessels for AED246m.
  • The company, which is pursuing an expansion strategy to become a major world leader in commercial shipping, is looking to buy up to 15 ships in 2022
  • In its latest transaction, Al Seer Marine has purchased LPG tankers, MT Alcor and MT Alkaid, each with a capacity of 20,700 cubic meters
Arts & Culture

Saudi Arabia launches 40% cash rebate for film productions

The program provides big support to local, regional and international film producers to shoot their works inside Saudi Arabia.
  • The program provides big support to local, regional and international film producers to shoot their works inside Saudi Arabia
  • The commission called on Saudi and international production companies that are planning to shoot in the oil-rich kingdom to apply for the incentive program
Business

Cloudflare of US sets up shop in Dubai Internet City

With the entry of Cloudflare, a top-rated American content delivery network, into its rapidly expanding zone, Dubai Internet City has...
  • Cloudflare announced Dubai as its first office in the Middle East to support its growing EMEA operations
  • In 2021, Dubai led the world in attracting foreign direct investment (FDI) with a record number of 418 greenfield FDI projects
Economy

Three Saudi ports make world records on CPPI 2021

The CPPI is an indicator produced by the Transport Global Practice of the World Bank.
  • The CPPI is an indicator produced by the Transport Global Practice of the World Bank.
  • The King Abdullah Port ranks first on the list of 370 global ports, while Jeddah Islamic Port ranks eighth
Economy

UAE to fund interest on home loans for its nationals

The UAE has decided to fund interest on home loans obtained by its nationals from banks "to ensure economic well-being...
  • Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, has revealed that the UAE Cabinet has endorsed a new policy for UAE nationals home finance
  • The minister made the remarks in a briefing organized by the Ministry of Energy and Infrastructure, represented by SZHP
Business

Agreement signed for new payment channels and services on AjmanPay app

Ajman’s Department of Finance (DoF) signed a cooperation agreement with First Abu Dhabi Bank (FAB) and Magnati to support the...
  • This agreement is in line with Ajman government’s strategy of fostering strategic partnerships between the public and private sectors.
  • It also complies with DoF’s efforts to develop innovative financial services that offer customers the facility to save their financial data.
Business

UAE and India to expand ties in renewable power, sustainable finance

India was the second-largest trading partner of the UAE in 2021 as it accounted for 9 percent of the total...
  • The UAE and India agreed to expand bilateral cooperation towards accelerated climate action and implementation of the Paris agreement.
  • The UAE’s cooperation with India in the area of climate aims to support India’s ambition to achieve 450 gigawatts (GW) of renewable energy.

Emirates to recruit 5,000 crew members in 2024

DUBAI, UAE – Emirates will hire 5,000 people as it awaits the arrival of its fleet of Airbus A350s. The airline...
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

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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