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

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
Economy

UAE real non-oil GDP grew by 7.8 percent in Q4 2021: CBUAE

UAE’s real non-oil GDP grew by 7.8 percent in the fourth quarter of 2021, owing to the easing of business...
  • The growth was attributed to the easing of business closures and the decline in restrictions on international travel, the Central Bank of the UAE said.
  • The bank said there was a 9.3 percent annual increase in Emirati oil production during the same period, in line with a related OPEC+ agreement.
Business

Firms listed on Muscat Stock Exchange post $1.4bn in net profits

Omani companies, which are listed on the Muscat Stock Exchange (MSX), reported total net profits of $1.39bn for the year...
  • The profits were 3.7 percent less than the $1.44bn in 2020 due to a fall in net profits of four out of the top five sectors at the MSX.
  • As per the report, Oman’s banking sector, the biggest sector in the exchange by market capitalization, offset some of the net profit declines of other main sectors.
Business

NBK Q1 net profit $383m

Total assets by the end of March grew by 8.7 percent YOY.
  • Total loans and advances increased by 12.3 percent year-on-year to $66 billion, and total shareholders’ equity reached $11.2 billion.
  • Net operating income of KD 236.5 million ($778.3 million), increasing by 6.8 percent compared to Q1 2021.
Economy

UAE’s non-oil contribution to GDP hit 72.3% in 2021

The hotels and restaurants, wholesale and retail and health and social services sectors contributed 21.3 percent, 14.1 percent and 13.8...
  • The hotels and restaurants, wholesale and retail and health and social services sectors contributed 21.3 percent, 14.1 percent and 13.8 percent respectively
  • The UAE’s GDP at constant prices achieved a growth of 3.8 percent in 2021, exceeding the forecasts of relevant international institutions
Business

QMM is market maker for Chimera Capital

QMM, part of ADQ, was launched in 2020.
  • QMM, part of ADQ, was launched in 2020, and has, over the past 18 months, played an active role in increasing ADX’s liquidity
  • "We are pleased to have QMM as a market maker for our four ADX-listed ETFs,” Syed Basar Shueb, Chairman of Chimera Capital, said
Economy

Jordan economy is strong, far from bankruptcy: Khasawneh

Khasawneh said the World Bank had confirmed that Jordan’s economy is more immune to the Russian-Ukrainian crisis.
  • Khasawneh said the World Bank had confirmed that Jordan’s economy is more immune to the Russian-Ukrainian crisis
  • He revealed that the government achieved 104 per cent of its target revenue last year and experienced growth
Economy

UAE cabinet approves regulations of decree on entry, residence of foreigners

The UAE Cabinet has approved the executive regulations of the Federal Decree-Law on Entry and Residence of Foreigners aimed at...
  • Substantial amendments are introduced to the Golden Residence Scheme to simplify the eligibility criteria and expand the categories of beneficiaries.
  • New types of visas have been introduced without requiring a host or sponsor for the first time.
Business

Nakilat Q1 net profit up 19.28 percent

Nakilat noted that earnings per share amounted to QR 0.07 in Q1 2022.
  • Compared to its profit in April of 2021 which, stood at QR 320.106 million, the profit reached QR 381.835 million.
  • Nakilat represents the main transport link in the global supply chain of liquified natural gas from the State of Qatar.
Infographics

Star-studded projects point to Saudi transformation

Some of the iconic real estate holdings developed by Taiba throughout Saudi Arabia suggest that the Kingdom is headed towards...
  • The company is a key supporter of Saudi Arabia’s transformative Vision 2030, in particular in regard to economic diversification.
  • Taiba, which has interests in hotels, tourism facilities and real estate, has a market capitalization of $1.5 billion, Refinitiv data shows.
Economy

Abu Dhabi Business Centre adds 80 new economic activities during 2021

The Abu Dhabi Business Centre (ADBC), a part of Department of Economic Development (ADDED), announced that 80 new economic activities...
  • New added activities cover many vital business sectors, including 40 new commercial activities, 25 professional and six industrial activities.
  • In agricultural sector, the new added activities include beekeeping training, breeding reptiles and amphibians.

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

Abu Dhabi to host Annual Investment Meeting in May 2023

The AIM Global 2023 is supported by the Ministry of Industry and Advanced Technologies, with the ADDED as a lead...
Economy

UAE takes part in IORA meetings in Bangladesh

DHAKA, BANGLADESH - The UAE participated in the Indian Ocean Rim Association's (IORA) 22nd Council of Ministers (COM) meeting and...
Geostrategy

Americana UAE IPO share price is $0.75

The company is the largest quick service restaurant operator in MENA.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

GCC rejects malicious media campaign targeting bloc

Beside approving various programmes and joint projects, the region's information ministers discuss strategic plan for joint media cooperation between the...
  • Beside approving various programmes and joint projects, the bloc's information ministers discuss strategic plan for joint media cooperation between the GCC countries.
  • The ministers also approve cooperation projects between news agencies, electronic media and cooperation in the field of external media
Economy

EIC calls UAE as the leader in renewable energy sector

London, UK --The Energy Industries Council (EIC), one of the world’s largest energy trade associations, has released a report on...
  • An EIC report titled “UAE: EIC Country Report – November 2022”, highlights the UAE’s Hydrogen developments in the sector.
  • “The UAE could be a key player and deliver 25 percent of the production of the global low-carbon hydrogen market by 2030,” the report said
Business

Nestle pours $1.8 bn in S Arabia

Firm said this will help bolster its presence in kingdom.
  • Nestle's announcement is likely to be a major boost to Saudi Arabia as the kingdom pushes to attract greater foreign investment.
  • Nestle will build a new factory, due to open in 2025 that will produce infant nutrition products and ready-to-drink coffee.