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.

Mideast ministers met with Joly, Trudeau in Ottawa to discuss Israel-Hamas war

OTTAWA, CANADA  — A group of foreign ministers from the Palestinian Authority, Saudi Arabia and Turkey met Canadian Foreign Affairs...

Geostrategy

Dubai faces warehouse shortage, says new report

DUBAI, UAE — The supply of under construction warehouse stock in Dubai’s industrial market stands at 1.56 million square feet according...

Business
Arts & Culture

Meta celebrates the spirit of Ramadan through #MonthofGood campaign

Throughout #MonthofGood, Meta will be sharing the stories of Muslim communities making positive impact.
  • Throughout #MonthofGood, Meta will be sharing the stories of Muslim communities making positive impact
  • The company is also introducing new Ramadan AR effects and weaving Muslim culture into the foundation for the metaverse
Business

e& to pay AED0.4 dividend

The total annual dividend for 2021 is now Dh0.8 per share.
  • The Group reported a net profit of AED 9.3 billion, an increase of 3.2 percent year on year
  • It also saw a 3.0 percent increase in its aggregated subscriber base, rising to 159 million
Economy

Saudi Finance Ministry forecasts kingdom’s GDP to grow by 7.4%

The Saudi Finance Ministry has forecast the kingdom's real gross domestic product to grow by 7.4 percent.
  • The expected growth is driven by a rise in the oil GDP associated with the Organization of the Petroleum Exporting Countries agreement and the expected improvement in non-oil GDP
  • As the economy continues to recover from pandemic repercussions, the government will continue to enhance the role of the private sector to be the main motivator of economic growth
Business

Qatar Development Bank launches program for micro-enterprises

Qatar Development Bank (QDB) announced the launch of a version of the "Al Dhameen" program for micro-enterprises, for the first...
  • Al Dhameen program for micro-enterprises is characterized by a profit rate and distinct conditions.
  • He noted the program will contribute to the development of the national business system in terms of access to financing.
Business

AUB to acquire Citi Bahrain unit

The acquisition includes retail banking and credit card.
  • Citigroup expects to close the transaction by the second half of this year, after which no changes will apply to the services provided to Bahraini customers.
  • Citigroup plans to exit operations in 13 markets, including Bahrain, Australia, China, India, Indonesia and South Korea.
Business

High demand for G6 currencies leads DGCX trading volumes

The Dubai Gold & Commodities Exchange (DGCX) recorded a monthly Average Open Interest (AOI) of 134,154 contracts during the month...
  • Euro and British Pound Futures Contracts recorded a year-on-year (YOY) advanced growth of 527.5 percent and 261.5 percent respectively.
  • Trading volumes in the Japanese Yen as well as the Australian Dollar registered a significant YTD growth of 339.2 percent and 755.76 percent respectively.
Infographics

Islamic banking tipped to grow in GCC

Of recent, Islamic banking has been getting quite a boost from governments and financial institutions in the Gulf Cooperation Council.
  • Islamic banks are prohibited from collecting or paying interest, which raises the question: How do they make a profit, or even stay in business?
  • The answer is that they make money through equity participation, which requires a borrower to give the bank a share of their profits
Economy

$2.4m grant for West Bank project to improve livelihoods

A grant of $2.4 million from the Japan Social Development Fund (JSDF) will help increase economic opportunities and improve the...
  • The grant from Japan Social Development Fund will improve the lives of fragile communities along the Palestinian Heritage Trail across the West Bank.
  • The Palestinian territories have faced long-lasting instability, exacerbating macroeconomic volatility, and increasing unemployment for over a quarter of the population.
Economy

Saudi non-oil private sector posts fastest growth in four years

The non-oil private sector of Saudi Arabia has recorded more growth in March than it did in more than four...
  • the seasonally adjusted S&P Global Saudi Arabia Purchasing Managers’ Index posted at 56.8 in March, rising from 56.2 in February, with the Output Index recording the highest growth
  • However, it highlighted that a sharp rise in global energy and commodity prices due to the Russia-Ukraine war had imposed an inflated cost burden on Saudi Arabian businesses
Economy

Oman to generate 25 GW of solar, wind energy

The country aims to produce 25 gigawatts (GW) of renewable solar and wind energy, which will be used to produce...
  • The country aims to produce 25 gigawatts (GW) of renewable solar and wind energy, which will be used to produce over 1.5 million tons of carbon-free hydrogen per year.
  • Najla Zuhair Al Jamali, Executive Manager of Alternative Energy at OQ said that GEO is at the vanguard of mega-scale green fuels projects

Mideast ministers met with Joly, Trudeau in Ottawa to discuss Israel-Hamas war

OTTAWA, CANADA  — A group of foreign ministers from the Palestinian Authority, Saudi Arabia and Turkey met Canadian Foreign Affairs...
Geostrategy

Company News

Latest News

Mawani announces new freight service at King Abdulaziz Port

Riyadh, Saudi Arabia---Saudi Arabia’s General Authority for Ports (Mawani) Sunday announced a new freight service, at the King Abdulaziz Port...
Business

Sales of Al Rahmaniyah Commercial Lands begins

SHARJAH, UAE - ASAS Real Estate Company, the real estate arm of Sharjah Islamic Bank (SIB), announced the launch of...
Business

UAE sets 31 Dec. deadline for availing redetermination of tax penalties

Abu Dhabi, UAE---The Federal Tax Authority (FTA) has called on registered taxpayers to benefit from the decision to re-determine administrative...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

GAL-AMMROC, GMF ink pacts

The pact were inked during the B20 Summit in Bali, Indonesia.
  • The pacts will allow AMMROC to expand its MRO capabilities and consolidate its status as a key enabler of a sustainable domestic defense sector in the UAE.
  • The cooperation will further expand to the joint promotion of the N219 and NC212 aircraft in the Middle East and Africa markets.
Economy

Sharjah International Travel and Tourism Forum to begin Nov 24

SHARJAH, UAE - The 9th edition of the Sharjah International Travel and Tourism Forum (SITTF) is set to kick off...
  • The forum will convene a host of government officials, local and international decision-makers, experts in global travel, tourism and aviation sector.
  • Organized by Sharjah Commerce and Tourism Development Authority, the forum complements SCTDA's efforts to bolster Sharjah's position in global tourism.
Business

FIFA World Cup 2022: Third floating hotel arrives at Doha port

MSC Opera will join MSC World Europa and MSC Poesia which arrived at Doha Port earlier, to offer a luxurious...
  • MSC Opera will join MSC World Europa and MSC Poesia which arrived at Doha Port earlier, to offer a luxurious hospitality experience to fans of the FIFA World Cup Qatar 2022
  • According to the estimates of the MSC Cruises Group, owner of the three floating hotels that will serve the tournament, the capacity of the three cruise ships is 10,000 beds