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

CBI 2023 net profit at $46.5m

The 2023 annual net profit rose 14 percent from 2022.

Business

Israelis raid Al-Aqsa, homes of Palestinians in Ramallah

RAMALLAH, PALESTINIAN TERRITORIES / JERUSALEM – Israeli forces carried out Sunday a series of raids in several towns in the...

Geostrategy
Geostrategy

Saudi group at WEF calls for international cooperation

A Saudi delegation said Wednesday that the transformation march launched by it a few years ago contributed to enhancing the...
  • The delegation participated in a panel discussion entitled "Kingdom of Saudi Arabia: A Future Vision".
  • It highlighted kingdom's role in supporting the region's stability within the framework of promoting development.
Business

ACWA, OQ, Air Products sign pact

A green hydrogen-based ammonia production facility will be built in Oman.
  • The Joint Development Agreement signing follows a memorandum of understanding signed in December 2021.
  • The firms said in a statement that the project would be based on integration of renewable power from solar, wind and storage.
Business

ENBD REIT rental income down 19.7 percent

Occupancy of its portfolio up 80 percent in the year ending 31 March 2022.
  • The firm's property portfolio value stood at $356 million, down 1.1 percent year-on-year whilst Net Asset Value was $167 million.
  • The firm has proposed a final dividend of $5 million or $0.02 per share for the six-month period ending 31st March 2022, a 13.6 percent increase from the same period of 2021.
Economy

Global economy to gain $8.3 trillion if countries invest in skills: WEF

The Reskilling Revolution initiative, a coalition of 50 CEOs, 25 ministers and 350 organizations committed to realizing these gains for...
  • The initiative, launched at WEF in January 2020, is working to provide 1 billion people with better education, skills and economic opportunity by 2030.
  • Two years into its work, the initiative will expand beyond adult reskilling and upskilling and integrate a focus on education for children and youth.
Business

April Dubai real estate sales highest monthly on record in 10 years

Dubai real estate market recorded 445 sales transactions worth AED 1.06 billion and 76 mortgage deals of AED 1.09 billion...
  • On Wednesday, real estate market recorded 445 sales transactions worth AED 1.06 billion and 76 mortgage deals of AED 1.09 billion.
  • In April, the market recorded 6,983 sales transactions, an increase of 45.5 percent over April 2021.
Business

UAE and China to set up New Energy Vehicle Project

Emirates Transport (ET) and China's NEV Investment LLC have teamed up to develop New Energy Vehicle Project in the UAE.
  • The joint venture represents a milestone in the efforts aimed at accelerating the New Energy Vehicles Project in the UAE
  • EVIS is considered a launchpad for NEV Investment and potential Chinese New Energy Vehicles which can be introduced to the UAE
Economy

Egypt to unveil development projects worth $860m

Executive regulations governing public-private partnership will be issued soon, an official of the Finance Ministry said.
  • Executive regulations governing public-private partnership will be issued soon, an official of the Finance Ministry said
  • The contracts with the private sector will be long term and subject to clear-cut mechanisms, he added.
Economy

Non-oil exports of Saudi Arabia surge 12.8% in March

Saudi Arabia's non-oil exports surged to $7.52 billion in March 2022, according to  the General Authority for Statistics, also known...
  • Non-oil exports excluding re-exports rose by 22.4 percent year-on-year
  • On a month-on-month basis, Saudi Arabia's exports of crude and refined oil jumped 35.7 percent, having set a record high increase at least since February 2017
Business

Sharjah Executive Council discusses realty sector draft laws

The meeting also included a discussion of a draft Executive Council decision regarding the executive regulations for the law of...
  • The meeting also included a discussion of a draft Executive Council decision regarding the executive regulations for the law of renting real estate
  • Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, and Chairman of the Sharjah Executive Council chaired the meeting
Expo 2020 DUBAI

Saudi authorities foil bid to smuggle amphetamine tablets: Official

Saudi Arabian authorities said Wednesday that they thwarted an attempt to smuggle 403, 000 amphetamine tablets into the kingdom. An...
  • The tablets were seized from a Syrian national, who is also a citizen of Jeddah governorate.
  • All the tablets were hidden inside a shipment of beans in plastic molds in the form of bean pods.

CBI 2023 net profit at $46.5m

The 2023 annual net profit rose 14 percent from 2022.
Business

Company News

Latest News

Jazeera Airways expands to Tajikistan

A direct flight from Kuwait to Dushanbe will be operated.
Business

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...
Geostrategy

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...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

US sanctions Hezbollah’s accountants, weapons facilitator

The Treasury Department's Office of Foreign Assets Control (OFAC) sanctioned two individuals and two companies for providing financial services to...
  • The US Foreign Assets Control (OFAC) sanctioned two individuals and two companies for providing financial services to Hezbollah
  • It took action against another individual involved in facilitating weapons procurement for the group
Economy

Rising inflation, falling wages threaten increased poverty: ILO

Global monthly wages fell in real terms to -0.9 per cent in the first half of the year, the study...
  • Global monthly wages fell in real terms to -0.9 per cent in the first half of the year, the study found
  • The purchasing power of middle-class families has been reduced, while low-income households have been hit particularly hard
Analysis

Over 200 days of Sheikh Mohamed bin Zayed as UAE President: Decisions, contributions and meetings

The UAE's policy will always support peace and stability in the region and the entire world, based on wisdom and...
  • The foreign visits by President Sheikh Mohamed have helped the country in diversifying relations and strengthening strategic partnerships regionally and globally
  • He has issued a number of laws and decisions that contribute to supporting the state's development and progress, and consolidating its position internationally