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

Resilient supply chains are essential to global trade: Expert

DUBAI, UAE – For over 30 years, globalization has been the evergreen megatrend as global trade has helped lift some...

Business

Penguin, SkyBlue ink MoU

The aim is to redefine outdoor media advertising in Abu Dhabi.

Business
Economy

Expat remittances from Saudi rise 5 percent to $3.91 bn in March

Personal remittances of expatriates in Saudi Arabia jumped 5 percent year-on-year (YoY) to SR14.7 billion ($3.91 billion) in March. Saudi...
  • Saudi Arabia was the third largest source of remittances globally in 2020, just behind the UAE and the US, according to the World Bank.
  • The US was the biggest source country, sending $68 billion abroad last year, while foreign workers in the UAE sent home $43 billion.
Business

Increase in Japan’s imports of UAE crude oil in March

This puts the UAE on the top of crude oil providers and at crucial importance for the Japanese energy needs.
  • This puts the UAE on the top of crude oil providers and at crucial importance for the Japanese energy needs
  • Japan's total oil imports in March amounted to 89.15 million barrels, compared to 78.51 million barrels in February
Business

VARA of Dubai to make entry into Metaverse through ‘Sandbox’

Dubai’s Virtual Assets Regulatory Authority (VARA) will enter into the Metaverse with the establishment of its Metaverse HQ in the...
  • VARA is the world’s first regulator to make its debut in the Metaverse and seeks to ensure that the regulator is accessible to its industry
  • It was established to provide a secure and progressive operating framework for the virtual asset (VA) sector to be able to scale
Arts & Culture

25 children’s authors from five continents to attend Sharjah festival

A group of 25 international children’s authors from five continents will be leading a cultural program at the 13th edition...
  • Organized by Sharjah Book Authority (SBA), the annual festival for children and youth runs for 12 days this year and is themed ‘Create Creativity’.  
  • It will see the participation of 139 publishers from 12 nations. A host of popular artists and experts will lead 750 workshops and 130 art shows and performances.
Arts & Culture

Jeddah Season 2022 kicks off in Saudi Arabia

This year's Jeddah Season is expected to feature international events and artistic and theatrical performances, Arab and international art concerts,...
  • Jeddah Season 2022 is expected to make Jeddah a permanent destination for tourism, entertainment, and events in the region
  • The 60-day event will reportedly see 2,800 activities in nine main zones in the presence of Jeddah residents and visitors
Geostrategy

KSA not to be blamed for high US energy prices: Turki Al-Faisal

A former Saudi intelligence head has insisted that the kingdom should not be held responsible for the rising energy costs...
  • Following the invasion of Ukraine, oil prices have dramatically surged in the market
  • Amid the price hike, the Biden administration has been urging Saudi Arabia to increase its oil output, and it has placed a strain on the relationship between the two countries
Infographics

What are the GCC’s top stock exchange constituents?

What are the top constituents of stock exchanges spread across the GCC countries? Here’s our infographic.
  • Some constituents — publicly traded companies — of the MSCI World Index would be heavier than others
  • And countries within the Gulf Cooperation Council have some of the biggest public companies in the world
Business

Kuwait rebuilding five commercial license centers across country

Kuwait’s Ministry of Public Works has announced it will be re-building five commercial centers across the country. Local media reports,...
  • Hawally Center, Khaitan Center, Mansouriya Center, Al-Dhahr Center and Al Ayoun Center are spread across different governorates.
  • Each building consists of a basement, a ground floor, first and second floors, and the roof.
Economy

Outside help conditional on implementing reforms: Lebanon Deputy PM

Lebanese deputy prime minister Saadeh Al-Shami has said that during his meetings last week with World Bank and IMF officials,...
  • Saadeh Al-Shami held meetings with IMF, World Bank and European Union officials last week.
  • IMF director Kristalina Georgieva showed great interest in the Lebanese situation and her willingness to help Lebanon out of its severe crisis during her meeting with Al-Shami.
Economy

Suez Canal chief says April revenues hit all-time record

The unprecedented income came as the Suez Canal in March increased transit fees for ships passing through the waterway.
  • The unprecedented income came as the Suez Canal in March increased transit fees for ships passing through the waterway.
  • Adm. Ossama Rabei, head of the Suez Canal Authority, said in a statement that 1,929 vessels sailed through the Canal in April

Resilient supply chains are essential to global trade: Expert

DUBAI, UAE – For over 30 years, globalization has been the evergreen megatrend as global trade has helped lift some...
Business

Company News

Latest News

Turkish, Egyptian ministers to meet to build ties: Erdogan

Erdogan and Egypt's President Abdel Fattah al-Sisi shook hands last week in Qatar, signalling a fresh beginning in their ties.
Geostrategy

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...
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...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

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...
  • The summit will bring together data leaders, high-level government officials, technologists, scientists and journalists to engage in dialogue on making data a global good
  • Participants will be provided opportunities to network, and participate in plenary sessions, flash talks and a fact-checking workshop
Economy

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.
  • Ninety percent of Egyptian LNG exports will be destined for European Union countries, El Molla said
  • He said the companies will focus on reducing emissions from production operations while stepping up their activities
Economy

Rate cuts may help in avoiding chronic recession

It is logical for the FRB to halt the wave of escalation of interest rates on the dollar, which was...
  • The Federal Reserve may reverse its policies and reduce interest rates to ensure preservation of the US and global economies, says an economist
  • It is logical for the Fed Reserve to pursue it policy in halting the wave of escalation of interest rates on the dollar, Qatar-based Bashir Al Kahlout adds