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.

Joint ministerial committee meets US secretary of state

Washington, US – A committee of the Joint Arab-Islamic Extraordinary Summit under the chairmanship of Prince Faisal bin Farhan bin...

Geostrategy

Awaed Alosool launches Sharia compliant investment platform

RIYADH, SAUDI ARABIA -  Awaed Alosool Capital announces the launch of the Awaed platform, revolutionizing investment opportunities in public listed companies....

Business
Arts & Culture

Riyadh Season 2021 ends, welcomes more than 15 million visitors

Middle East’s largest entertainment event, Riyadh Season 2021, which concluded on March 31, welcomed more than 15 million visitors, according...
  • Organized by the Saudi Arabia’s General Entertainment Authority, the first edition of the event was launched in 2019 and saw more than 10 million visitors.
  • Riyadh Season 2021 hosted eight international exhibitions on fashion, technology and communications, electronic games, perfumes, plastic arts, and crafts.
Business

Saudi Venture Capital and Flat6Labs launch $40m seed fund

Saudi Venture Capital and Flat6Labs have teamed up to launch a $40 million startup seed fund.
  • During the next three years, the fund aims to back startups with growth potential, and provide over 20 startups each year with seed capital
  • The fund’s size, which is around SR150 million ($40 million), will be utilized in the investment of early-stage startups operating in the technology and innovation sectors within S
Business

France donates $5.5m to Jordan for a development project

The Jordan Education for Employment (JEFE) organization and the French Development Agency on Saturday signed a grant agreement worth 5...
  • The refugees will be provided training and financial services as per the agreement
  • Both parties on Saturday signed a grant agreement worth 5 million euros to launch the project
Arts & Culture

First World Cup in Middle East will be healthiest ever: FIFA President

Several measures will be implemented at this year’s FIFA World Cup Qatar in a bid to promote healthy lifestyles. Senior...
  • World Health Organization, Qatar's health ministry and FIFA agree to implement several measures to promote healthy lifestyles at the mega event.
  • The three entities will leverage the global power of football to help people lead healthy lives, said WHO Director-General Dr. Tedros Adhanom Ghebreyesus.
Business

Emirates Development Bank to facilitate $8.16 bn in lending by 2025

Emirates Development Bank (EDB) has said it will facilitate direct and indirect lending totaling AED30 billion ($8.16 billion) by 2025,...
  • At its first Board meeting of 2022, the bank said it made AED1.91 billion contribution to the UAE’s GDP growth.
  • The bank launched a new Credit Guarantee platform, which was able to mobilize more than AED332 million of capital to SMEs.
Business

Suez Canal posts 20% jump in revenue in Q1 of 2022

Suez Canal posted twenty percent increase in revenue in the first quarter of 2022 despite the Russian-Ukraine war disturbing the...
  • The Suez Canal Authority recorded $1.7 billion revenue in the first quarter up from $1.4 billion a year earlier
  • The number of ships transiting the canal from January to March this year increased by 15.8 percent, to reach 5,303 ships, up from 4,581 ships during the same period last year
Business

Petra records highest number of visitors since Covid pandemic

The ancient city of Petra in Jordan has registered the highest number of visitors since the start of the coronavirus...
  • The city's visitors in March were: 43,533 of foreign nationalities, 3,859 from Arab countries and 6,504 Jordanians.
  • Only 4,656 visitors of all nationalities, most of whom were Jordanians and Arabs, made it to Jordan's main tourism attraction during the month of March 2021.
Business

Tadawul bars three firms from trading in shares

Tadawul, the Saudi stock exchange, has barred three companies from trading in shares over their failure to issue financial statements...
  • The exchange suspended Saudi Cable Co. shares from the main market
  • It also suspended Obeikan Glass Co. and Advance International Company for Communication and Information Technology from the Nomu parallel market
Geostrategy

UAE, Israel cooperate to advance maritime transport sector

The MoU is said to be in the field of maritime transport, exchange of experiences, and strengthening strategic partnership.
  • The MoU aims to enhance cooperation between the two countries in the field of transport, especially maritime
  • It is also expected to help exchange experience and knowledge to serve the future directives for the next 50 years
Economy

Bahrain authorities allay fears over tomato price rise

Bahrain’s Ministry of Industry, Commerce, and Tourism has announced that big shipments of tomatoes would arrive within the next few...
  • Bahrain’s Ministry of Industry, Commerce, and Tourism has said it is closely monitoring the availability of products in the central markets
  • The ministry is looking to ensure that there are multiple options for basic food products, such as fruits and vegetables, at the usual prices

Joint ministerial committee meets US secretary of state

Washington, US – A committee of the Joint Arab-Islamic Extraordinary Summit under the chairmanship of Prince Faisal bin Farhan bin...
Geostrategy

Company News

Latest News

ADGM partners with ADIB, RAKBANK, Wio Bank to support Abu Dhabi businesses

The announcements were made during the first edition of Abu Dhabi Finance Week (ADFW) hosted by ADGM.
Business

GCC renews commitment to strengthen ties with EU

Manama, Bahrain—The Gulf Cooperation Council (GCC) has stressed the importance of strengthening ties between the GCC and the European Union...
Geostrategy

Several MoUs give a boost to Saudi-Thai relations

The two countries agree to set up Saudi-Thai Coordination Council, vow to enhance investments and cooperation in sectors such as...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Science

Indonesian Govt, 3 organizations to protect marine environment

ABU DHABI, UAE - The Indonesian Government, G42, a UAE-based AI and cloud computing company, a global nonprofit OceanX and...
  • The project recognizes the importance of mapping of marine resources through advanced technologies to protect and preserve the ocean environment.
  • The project intends to provide marine genomics applications by G42 Healthcare in support of OceanX’s social welfare mission.
Business

Americana IPO: UAE retail offer doubled

Saudi retail tranche remains unchanged at 10 percent.
  • The company plans to plans to sell a 30 percent stake in the IPO remains unchanged. It will list both on ADX and Saudi Arabia’s Tadawaul likely on or around Dec.6.
  • The company is selling more than 2.52 billion of its existing shares in the IPO, which expected to run until 21 Nov. for retail investors in the UAE and Saudi Arabia.
Business

AD Ports acquires Noatum

The ports operator paid $680 million for the deal.
  • AD Ports said that Noatum has a presence in 26 countries and LTM revenue and EBITDA of AED6.91 billion and AED555 million, respectively.
  • The acquisition will be fully funded through a new acquisition loan, AD Ports said. Subject to regulatory approvals, the transaction is expected to close in H1 2023.