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.

45 percent of Saudi employees work over 40 hours per week

Riyadh, Saudi Arabia -- Nearly 45.8 percent of employees in Saudi Arabia work more than 40 hours per week and...

Business

Makkah, Morocco’s Beni Mellal-Khenifra Chambers of Commerce ink pact

MAKKAH, SAUDI ARABIA - The Makkah Chamber of Commerce and Industry and the Chamber of Commerce, Industry, and Services of...

Business
Arts & Culture

Abu Dhabi tourism department readies to launch summer campaign

The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) will announce its summer campaign at Arabian Travel...
  • Located in Hall 2 at Dubai World Trade Centre, Visit Abu Dhabi will take guests on journey of the top sites and attractions in the capital.
  • Visitors will be treated to live performances from the City of Music, the creative craftsmanship of Emirati artisans at the House of Artisans zone.
Business

Jeddah airport picks new acting CEO

Ayman Aboabah was appointed after the airport witnessed chaos.
  • Aboabah has 28 years of experience, where he had held several leadership positions including the vice president for operations at Riyadh Airports Co.
  • Several clips featuring the chaotic situation have gone viral on the internet, with people questioning why su.ch a situation happened at the newly built $9.6 bn airport.
Videos

UAE and Egypt home to leading startups in 2021

The UAE eyes around 20 unicorns, the start-ups valued at $1 billion-plus each, by 2031. These high-value startups will be...
  • Dubai has set up a $100 million venture capital fund in order to provide financial support to fintech startup companies.
  • Startups affiliated with Hub71, Abu Dhabi’s global tech ecosystem, have bagged AED1.5 billion in investments since its inception in 2019 and created about 1,000 jobs.
Economy

Dubai ranked first globally in attracting greenfield FDI projects

The emirate attracted 418 greenfield FDI projects, Crown Prince of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said....
  • Both FDI projects and FDI job creation witnessed a significant increase of 36 per cent in 2021, with an estimated 24,868 jobs in 2021, compared to 18,325 jobs in 2020.
  • The United Kingdom was the biggest source of FDI, accounting for 27 percent of total share of the FDI capital, followed by the US, France and Germany.
Business

Jordan sees increased food demand in Ramadan

Medium- and low-income Jordanian families spend 45 per cent of their income on food, and are the most impacted group...
  • Amman Chamber of Trade President Khalil Haj Tawfiq said this, noting that food sector sales picked up after falling in the first four days of Ramadan
  • Staple food items remained in sufficient supply during Ramadan, adding that 85 per cent of the Kingdom's food needs are imported from abroad
Business

Flydubai posts 114% jump in passenger bookings in Q1

Flydubai has reported a 114 percent jump in passenger bookings in the first quarter of the year. The airline said...
  • The airline said it has operated 19,000 flights and carried 2.35 million passengers during the period
  • It also witnessed an increase in demand for connecting traffic with 43 percent of the passengers connecting to the carrier’s network
Economy

UN stresses strategic approach to address Palestinian economic situation

The United Nations has stressed on a more strategic approach to address the economic and fiscal crisis faced by the...
  • A UN report warned of an uncoordinated approach to address the current political, economic and security challenges in the Occupied Palestinian Territory.
  • The report urges Israelis, Palestinians, regional States, and the broader international community to concrete steps to encourage the parties to further engage with each other.
Business

Aafaq Islamic Finance picks new CEO

The company has appointed Hisham Hammoud to the post.
  • Hisham Hammoud is considered one of the pioneers in the banking and financial sectors
  • He has more than 25 years of experience in the fields of banking and Islamic banking
Economy

Saudi King Salman enters hospital for ‘examinations’

King Salman entered King Faisal Specialist Hospital in the coastal city of Jeddah on Saturday ‘to conduct some medical examinations’.
  • The 86-year-old King Salman has ruled the top oil exporter and the Arab world's biggest economy since 2015
  • He was most recently hospitalized in March, for ‘successful medical tests’ and to change the battery of his pacemaker
Arts & Culture

Sharjah, Tunisia to cooperate on cultural heritage preservation

The Tunisian side highlighted the importance of joining forces with Sharjah, which will reflect positively on the efforts to protect...
  • SIH Chairman Abdul Aziz Al Musallam and Tunisian Culture Minister Hayat Katat Al Garmazi recently met to discuss bilateral cooperation
  • They are said to have discussed tie-ups in the field of protecting tangible, intangible heritage, and heritage under water

45 percent of Saudi employees work over 40 hours per week

Riyadh, Saudi Arabia -- Nearly 45.8 percent of employees in Saudi Arabia work more than 40 hours per week and...
Business

Company News

Latest News

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.
Economy

Global Data Dialogue summit in Dubai to discuss AI, public policy, media

The summit will bring together data leaders, high-level government officials, entrepreneurs, technologists, scientists and journalists to engage in dialogue on...
Business

Egyptian LNG exports will exceed 8 million tonnes in 2022: Minister

Ninety percent of Egyptian LNG exports will be destined for European Union countries, El Molla said.
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Global economic crisis takes fizz out of MENA startups

MENA startups had begun the year with a deluge of funding from investors, but toward the year end a dark...
  • The startups in the region have raised more than $2.5 billion this year and made more than 500 deals, according to estimates
  • The UAE raised $460 million in 24 deals in October, a huge boost compared to the country’s $27 million raised in September
Business

NEXT50 unveils platform for firms to maximize their business values

Abu Dhabi, UAE -- NEXT50 today launched PLATFORM50, a one-stop-shop solution for organizations to maximize business value and address tomorrow’s...
  • PLATFORM50 is designed to support organizations as they accelerate the adoption of AI, advanced analytics-based solutions, and automation.
  • AI is set to contribute up to $15.7 trillion to the global economy in 2030 and $320 billion to the Middle East alone.
Geostrategy

Jordan to receive $845 million in aid from the US

The United States will provide Jordan with over US$845 million in annual financial support, officials in Amman said as the...
  • The Hashemite kingdom is a key Western ally in the Middle East.
  • In September, the US committed to providing Jordan with $10.15 billion in aid between 2023 and 2029.