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.

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

Oman to expand production of green hydrogen to boost non-oil economy

Hong Kong - The government of Oman’s targets to expand local green hydrogen production could support key credit metrics, such as...

Business
Business

Swvl to buy Zeelo of UK

The buyout will give Swvl a foothold in developed markets.
  • The buyout will provides Swvl, which has locations in Dubai and Cairo, with a launchpad to land and expand business operations in developed markets
  • The transaction is expected to be completed in May 2022
Business

IDB lists US$ 1.6 billion Sukuk on Nasdaq Dubai

The first public Sukuk issuance from IsDB in 2022 strengthens its position as the largest supranational institution.
  • The first public Sukuk issuance from IsDB in 2022 strengthens its position as the largest supranational institution
  • The Bank successfully priced the 5-year Trust Certificates at par with a profit rate of 3.213%, payable on a semi-annual basis
Geostrategy

UAE, Rwanda sign economic, technical cooperation agreement

The two sides reviewed their relations during the visit of the UAE Minister of State Sheikh Shakhboot bin Nahyan bin...
  • The two sides reviewed their relations during the visit of the UAE Minister of State Sheikh Shakhboot bin Nahyan bin Mubarak Al Nahyan to Kigali
  • the two sides reviewed the prospects for boosting investment and economic cooperation and accelerating projects
Business

Abu Dhabi’s realty transactions exceed Dh11.3b in Q1 2022

The transactions included the buying, selling, and mortgages of all types of lands, buildings, and real estate.
  • The transactions included the buying, selling, and mortgages of all types of lands, buildings, and real estate
  • Yas Island topped the list with AED1.2 billion in real estate transactions, followed by Al Saadiyat Island with AED673 million
Business

Altaaqa and TotalEnergies to set up EV charging ports in KSA

Altaaqa of Saudi Arabia and TotalEnergies of France have teamed up to establish charging stations for electric vehicles in the...
  • Under the Altaaqa EV brand, the companies will offer end-to-end solutions for the development of the stations
  • The move will help Saudi Arabia in its bid to achieve net-zero carbon emissions by 2060
Business

EITC Q1 net profit $86.44m

Revenues grew 8.5 percent to AED 3,128 million.
  • Mobile service revenues increased 6.9 percent to AED 1,402 million while handset sales generated AED 216 million in revenues.
  • Fixed services revenues jumped 22.8 percent to AED 815 million on sustained demand from consumer and enterprise customers.
Business

ADNOC acquires stake in Borealis

The oil giant acquired shareholding from Mubadala Investment Company.
  • Borealis now will be owned 25 percent by ADNOC and 75 percent by OMV, an Austrian multi-national integrated oil, gas and petrochemical company listed on Vienna Stock Exchange.
  • ADNOC and Borealis have been partners for two decades through their jointly held Abu Dhabi-based polyolefins company Borouge.
Business

Foreign ownership in Saudi stock market touches $70bn

Saudi Arabia's drive to lure more foreign investment into the kingdom's stock exchange paid off as foreign ownership touched $70...
  • Increased market attractiveness propelled a 54 percent rise in the ownership of qualified foreign investors at the end of 2021 compared to a year earlier
  • The year also witnessed a higher frequency of listings on the bourse, with a total of 21 listings completed on the Kingdom’s main and parallel markets
Business

Fitch affirms AA- rating to Emirates Development Bank

The bank, which is a key financial enabler of the UAE’s economic diversification and industrial transformation agenda, has also been...
  • The bank, a key financial enabler of the UAE’s economic diversification and industrial transformation agenda, has also been assigned an ‘aa-’ Government Support Rating
  • The EDB has contributed AED1.91 billion to the UAE’s GDP growth following the launch of its new strategic vision
Business

Sharjah records real estate transactions worth $1.71 billion during Q1

A total of 21,615 real estate transactions worth AED 6.3 billion ($1.71 billion) were executed in Sharjah during the first...
  • March witnessed the highest value of transactions with a total of AED2.7 billion, recording an increase by 32.3 percent compared to February.
  • Sector-wise, residential properties topped the list of properties sold in the emirate with 1,225 properties,.

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

Company News

Latest News

Qatar records ‘impressive’ 94% attendance in World Cup first round

Doha, Qatar— After the first round of FIFA World Cup group stage matches were completed, official figures show that the...

MoCCAE highlights role of UAE Climate Change Research Network

SHARM EL SHEIKH, EGYPT - The Ministry of Climate Change and Environment (MoCCAE) organized an awareness session on the UAE...
Science

Iran’s Khamenei says negotiating with US won’t end recent ‘troubles’

TEHRAN, IRAN - Iran's supreme leader Ayatollah Ali Khamenei said Saturday that negotiating with the United States would not put...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

Qatar ready to provide up to $10 billion in funding to Turkey: sources

Turkish and Qatari official are in the final stages of talks to work out the modalities of extending the funding.
  • Turkish and Qatari official are in the final stages of talks to work out the modalities of extending the funding
  • The Turkish central bank already had a swap agreement with Qatar's central bank that was originally worth $5 billion
Economy

UNWTO says investments key to transform tourism

Marrakesh, Morocco—The UN World Tourism Organization (UNWTO) convened its 117th Executive Council in Marrakesh, Morocco, as the sector’s recovery continues...
  • On the eve of the Marrakesh meeting, the United Nations General Assembly was presented with a a draft resolution calling on all to promote tourism
  • The Executive Council is the top governing body of UNWTO and meets twice a year
Business

ENBD REIT announces H1 NAV

The company achieved a gross rental income of $15 million.
  • The property portfolio value increased by $4.7 million from the previous quarter to $362 million
  • The company achieved a gross rental income of $15 million, up 0.7 percent from the same period last year