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

BCI’s subsidiary secures US$100m loan from SIDF

RIYADH, SAUDI ARABIA - Basic Chemical Industries Co.'s (BCI) subsidiary Chemical Marketing and Distribution Co. Ltd. secured a loan from the Saudi...

Business

Mawani gets 79.01 points in UNCTAD’s Liner Shipping Connectivity Index for Q4 2023

RIYADH, SAUDI ARABIA – The Saudi Ports Authority (Mawani) attained its highest improvement in the UNCTAD's Liner Shipping Connectivity Index...

Economy
Business

Binance, crypto firm, to hire more than 100 people in UAE

Binance, the world's biggest crypto exchange in trading volume, will hire more than 100 people in the UAE, days after...
  • The firm's links with the Gulf state have deepened in recent months as the UAE tries to style itself as the world’s new digital assets hub and develops regulation
  • The $2.1 trillion crypto sector is still subject to patchy regulation across the world. US sees high risks in crypto
Business

Aldar buys Ras Al Khaimah’s Rixos Bab Al Bahr hotel in $210m deal

Aldar Investment acquired the 715-room hotel that opened its doors in 2014, marking the company's second investment in the emirate...
  • Aldar Investment acquired the 715-room hotel that opened its doors in 2014, marking the company's second investment in the emirate this year
  • Aldar Investment has also secured development rights for an additional 250,000 square feet for residential and commercial use, it said in a statement
Business

Dubai’s real estate market to ramp up going forward: Report

Over 84 percent of real estate professionals expect competition within Dubai’s real estate market to ramp up going forward, according...
  • More than two-thirds (68 percent) of respondents in Dubai said they had experienced growth over the previous twelve months
  • In November 2021, Dubai registered the best month of sales on record, with a total of 6,989 transactions worth AED17.95 billion
Geostrategy

Jordan, US discuss ways to enhance strategic partnership

Jordan’s Deputy Prime Minister Ayman Safadi and US Secretary of State Antony Blinken discussed the new MoU for the strategic...
  • A new MoU between the two countries frames the US aid for Jordan, replacing the current memorandum, which expires in September 2022
  • According to the current MoU, the US has provided Jordan with annual support over the past four years, which amounted to 1.65 billion in 2021
Business

UAE, Colombia finish phase 1 of Comprehensive Economic Partnership Agreement

UAE-Colombia non-oil trade was valued at AED991 million ($269.84 million) last year. Under the partnership, this figure could increase threefold...
  • The agreement is expected to help strengthen trade and investment relations between the two countries
  • The UAE’s Ministry of Economy has said it is continuing joint efforts to reach a final draft of the agreement
Business

ADPG profit up Dh397m

The company’s revenue rose to AED 3.9 billion.
  • AD Ports Group has evolved into a vertically integrated ecosystem of businesses that include Economic Cities & Free Zones, Ports, Logistics, Maritime, and Digital services
  • As a strategic gateway to Abu Dhabi, AD Ports Group generated 21 percent of all non-oil related GDP in the Emirate, according to Oxford Economics
Economy

Jadwa Investment says Saudi economy to grow 7.7% in 2022

The economy of Saudi Arabia is forecast to grow 7.7 percent this year propelled by the expansion of the kingdom's...
  • The firm sees the oil sector increasing by 15.5 percent, but it also estimates the level of ‘non-oil activities’ to grow by 3.4 percent
  • It made the forecast as it revealed the Kingdom’s non-oil Purchasing Managers' Index hit its highest level for three months
Economy

NEOM subsidiary sets up Hydrogen and Innovation Development Center

ENOWA, the energy, water and hydrogen subsidiary of NEOM, has established the region's first Hydrogen and Innovation Development Center (HIDC)....
  • The Hydrogen and Innovation Development Center will be a testing ground for new technologies in the clean energy industry.
  • The Center will also be a collaborative learning community for research institutions focused on hydrogen and the circular carbon economy.
Business

ADQ of Abu Dhabi to buy majority stake in Unifrutti Group

ADQ, Abu Dhabi wealth fund, will buy a majority stake in Unifrutti Group, a fruit and vegetable producer, marketer, and...
  • The acquisition is designed to secure food supply amid pandemic and geopolitical tensions
  • The investment will help the group expand its footprint globally, along with enhancing food security in the UAE
Business

ADEX, Korea Eximbank to collaborate on export financing

The two sides discussed co-financing solutions for Korean organisations seeking to import goods and services from the UAE.
  • The two sides discussed co-financing solutions for Korean organisations seeking to import goods and services from the UAE
  • ADEX was established by Abu Dhabi Fund for Development (ADFD), to drive diversification and growth of the UAE export economy

BCI’s subsidiary secures US$100m loan from SIDF

RIYADH, SAUDI ARABIA - Basic Chemical Industries Co.'s (BCI) subsidiary Chemical Marketing and Distribution Co. Ltd. secured a loan from the Saudi...
Business

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