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.

Maisarah leads Oman government’s successful sukuk issuance

MUSCAT, OMAN - Maisarah Islamic Banking Services, Islamic window of BankDhofar, acted as an Issue Manager for the Sovereign Sukuk...

Business

IsDB, SWCC sign agreement

The collaboration will involve efforts from both parties.

Business
Business

Alpha Dhabi Q1 net profit $773m

Revenues stood at AED8.17 billion, a year-on-year increase of 700 percent.
  • This was the first set of Q1 results for Alpha Dhabi since its direct listing on ADX in June 2021.
  • The company's acquisitions and investments totaled AED5.21 billion.
Business

Empower provides district cooling services to 17% of the hotels in Dubai

Empower revealed this at the launch of the ‘Arabian Travel Market 2022’, which is being held at the Dubai World...
  • Empower revealed this at the launch of the ‘Arabian Travel Market 2022’, which is being held at the Dubai World Trade Centre
  • Empower expects its growth in the share of the hospitality sector to go up as a result of dozens of new applications received by the company from developers of new hotels
Business

ADQ to fund investments worth more than $4 billion in Greece

ADQ will work with the Hellenic Development Bank (HDB), the national development bank of Greece, and Hellenic Development Bank of...
  • In 2021, the value of non-oil foreign trade between the UAE and Greece reached nearly AED 2.1 billion.
  • The growth of trade, when compared to 2020, was 67 percent, reflecting a significant spike in growth.
Business

Arada awards two deals

Under the $125.23m contracts, a residential district will be built at Masaar.
  • Valued at AED228 million, the contract to build 142 villas in the Sendian district of Masaar was won by Kuwait's Al-Kharafi.
  • The second contract worth AED232m to build the remaining 288 homes in Sendian was awarded to Intermass, a Sharjah-based contractor.
Business

Mubadala, ENGIE to create digital platform for electric vehicles in Gulf

Mubadala Investment Company and ENGIE signed an agreement to explore the development of a digital platform for charging electric vehicles...
  • The two companies will work on a joint solution for the installation and operation of charging infrastructure for Electric vehicles (EVs) in UAE.
  • EVs are important in supporting decarbonizing the mobility sector as transport sector is known to be a contributor in global carbon footprint.
Economy

Clean sources transformed UAE energy sector in a decade: ENEC chief

The UAE has proactively invested in proven clean energy and within a decade, solar and peaceful nuclear energy have delivered...
  • Barakah Nuclear Plant is now generating 2.8 Gigawatts of electricity, making it the largest source of clean electricity in the country.
  • With all four reactors online, nuclear energy will meet 25 percent of the UAE’s electricity demand.
Business

Emirates Steel Arkan Q1 profit $19.62m

The firm said the impact of Emirates Steel and Arkan merger was positive.
  • The company announced revenues of AED2.04 billion for the first quarter of 2022, compared to AED233.5 million in 2021.
  • It said the net profit was boosted by enhanced operational performance and higher sales volumes.
Business

Agthia Group Q1 revenue is Dh1b

The company’s net revenues are up 58% year-on-year.
  • Net profit increased to AED 82 million, growing at a higher rate vs revenue and supported by the consolidation of margin accretive acquisitions in 2021
  • Strong start to 2022 builds on successful first year of Agthia’s five-year growth strategy
Science

Saudi Space Commission looks to explore cooperation with NASA

Saudi Space Commission Board of Directors Chairman Abdullah Amer Alswaha is on a tour of the US to develop the...
  • The two countries discussed opportunities for strategic cooperation to develop the space sector
  • They also mulled investment in future joint projects to achieve mutual economic and strategic goals
Economy

UAE increases Emiratisation rate to 2 percent annually

NAFIS, the federal program aims to increase the competitiveness of the Emirati workforce and to facilitate the private sector.
  • NAFIS, the federal program aims to increase the competitiveness of the Emirati workforce and to facilitate the private sector
  • The incentives include reducing the service fees of the private sector establishments which recruit and train Emirati citizens by 80 percent

Maisarah leads Oman government’s successful sukuk issuance

MUSCAT, OMAN - Maisarah Islamic Banking Services, Islamic window of BankDhofar, acted as an Issue Manager for the Sovereign Sukuk...
Business

Company News

Latest News

‘Dai Gallery’ for Arab artists kicks off in Cairo with Qatari participation

The month-long exhibition includes works by 142 Arab artists in photography, painting, sculpture, and graphics.
Arts & Culture

Qatar’s records trade balance surplus of $6.8 billion in Oct 2022

Doha, Qatar---Qatar's merchandise trade balance recorded a surplus of QR 25.1 billion ($6.8 billion) in October this year, an increase...
Economy

Tehran protests after US football body posts modified Iran flag

Iran has seen more than two months of demonstrations sparked by the death in custody of 22-year-old Kurdish-Iranian woman Mahsa...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

Jordan makes two big seizures of captagon pills on Syrian border

Amman, Jordan— Jordan has seized a big haul of drugs being smuggled into the kingdom from Syria in two different...
  • Border guards at the Jaber border crossing, Jordan’s main border crossing with Syria, on Sunday seized 10,000 Captagon pills and 1 kg of crystal meth hidden inside a truck
  • A day earlier the Eastern Military Zone in Jordan seized 564 palm-sized sheets of hashish, 20,000 Captagon pills, a Kalashnikov rifle and ammunition
Economy

AMF signs US$1bn agreement to shore up Yemeni government reforms

Riyadh, Saudi Arabia—The Arab Monetary Fund has signed a $1 billion agreement with the Yemeni government to shore up the...
  • The program seeks to contribute to backing efforts made to implement reforms to strengthen the financial status of the Yemeni government,
  • It seeks to promote comprehensive and sustainable economic growth, create job opportunities and push sustainability of Yemen's economy
Economy

Egyptian Exchange rises on buying by FIIs

The market capital gained about $0.60 billion to close at $35 billion, amid transactions worth $0.08 billion.
  • The market capital gained about $0.60 billion to close at $35 billion, amid transactions worth $0.08 billion
  • The broader EGX 70 EWI index of the leading small and mid-cap enterprises (SMEs) increased by 1.37 percent, ending at 2,550.95 points