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.

MENA region can create 10m jobs by 2050 via climate action, says ILO

DUBAI, UAE - International Labor Organization (ILO) Deputy Regional Director for the Arab States Peter Rademaker has confirmed that the...

COP28 UAE

Astra Tech to launch financial services powered by AI in 2024, says CEO

ABU DHABI, UAE - CEO and Co-Founder of Astra Tech Abdallah Abu-Sheikh said that the company will launch its first...

Business
Economy

Saudi Arabia’s non-oil exports rise by 27 percent in Jan 2022

Saudi Arabia’s non-oil exports increased by 27.5 percent year-on-year in January 2022, rising to SAR 24.1 billion ($6.42 billion) from...
  • The most important non-oil goods were 'Plastics and Rubber and Articles Thereof' (32.7 percent of non-oil merchandise exports).
  • The kingdom’s overall merchandise exports increased by 49.6 percent in January 2022 compared to January 2021.
Business

Al Abjan to raise production

The firm plans to produce 30m hatching eggs by 2023 from 11m in 2021.
  • The firm said after raising its production, it will meet more than 28 percent of the UAE’s requirement of 105 million eggs annually.
  • Al Ajban anticipates 13 percent return on investment, in consideration of expansion plans that include a new chicken rearing farm.
Business

DEWA prices shares AED2.25-2.48 in Dubai’s biggest IPO since 2017

The IPO size implies a market capitalization at listing of between $30.63 billion and $33.76 billion, which would make DEWA,...
  • The IPO subscription started on Thursday and will run until April 2 for the UAE retail investors and until April 5 for the institutional investors.
  • DEWA is the majority owner of Empower, the world's largest district cooling services operator by connected capacity.
Business

Unit 2 of Barakh Nuclear Energy Plant starts operations

The Emirates Nuclear Energy Corporation (ENEC) announced today the start of commercial operations of Unit 2 at the Barakah Nuclear...
  • Unit 2 adds 1,400 megawatts of zero-carbon emission electricity to the national grid, bringing the total produced by Units 1 and 2 to 2,800 megawatt.
  • This new addition takes ENEC and its subsidiaries to the halfway mark of delivering on its commitment to supply a quarter of the country's electricity needs.
Geostrategy

UN agency to spearhead early warning plan covering every person on earth

“Early warnings and action save lives,” UN Secretary-General António Guterres said in a video message during a ceremony marking the...
  • The agency will lead the effort and present an action plan in November at this year’s UN climate conference (COP 27) in Egypt.
  • The new plan seeks to build on existing WMO activities and partnerships, including with key agencies, countries and groups already active in the field.
Business

KSA mining sector grew 27% to $194 million in 2021

Saudi Vice Minister of Industry and Mineral Resources Eng. Khalid Saleh Al-Mudaifer estimated the total value of mineral wealth in...
  • Saudi Vice Minister of Industry and Mineral Resources Eng. Khalid Saleh Al-Mudaifer estimated the total value of mineral wealth in Saudi Arabia at around $1.3 trillion
  • He stressed that competition among countries is increasing to assume leading positions in the global mining markets
Geostrategy

Jordan, India discuss cooperation in fertilizer industry

The Jordanian Minister of Investment, Khairy Amr voiced Jordan's readiness to provide facilities for Indian investment in Jordan and invited...
  • The Jordanian Minister of Investment, Khairy Amr voiced Jordan's readiness to provide facilities for Indian investment in Jordan and invited Indian experts to his country
  • Indian minister reaffirmed the Indian government's keenness to prioritize Jordan in importing phosphates and fertilizers
Economy

Ukraine war sends Middle East food prices soaring: Guterres

The world must not forget the millions of people in need across the Middle East and North Africa, UN chief...
  • The UN chief issued the warning during a meeting on the expanding cooperation between UN and the 22-member League of Arab States
  • At the meeting, ambassadors of the Arab countries adopted a presidential statement praising the increasingly critical partnership
Economy

UAE Fatwa Council sets value of Zakat for Ramadan at AED25

The council has also set minimum values of iftar meals and atonement for not fasting during the previous Ramadan.
  • Within this fatwa, the council set the value of iftar meal at a minimum of AED15
  • This amount can be paid to the registered charities which provide iftar meals
Business

UAE, Turkey chambers of commerce review advancing cooperation

During the meeting, prospects for collaboration between private sector institutions in the countries and ways to enhance them were reviewed.
  • The FCCI expressed readiness to promote the opportunities presented by Turkey among Emirati business-owners
  • The two sides also mulled over the possibility of signing an MoU between ULUSKON and FCCI

MENA region can create 10m jobs by 2050 via climate action, says ILO

DUBAI, UAE - International Labor Organization (ILO) Deputy Regional Director for the Arab States Peter Rademaker has confirmed that the...
COP28 UAE

Company News

Latest News

QatarEnergy, Qatargas celebrate loading of 30,000th ship from Ras Laffan

Doha, Qatar---Qatar’s state-owned QatarEnergy and Qatargas, the world's largest liquefied natural gas (LNG) company, celebrated the loading of the 30,000th...
Business

FSRA grants Binance permission to provide crypto custody services

Abu Dhabi, UAE---Binance, world's biggest cryptocurrency exchange, announced that it has received a Financial Services Permission (FSP) from the Financial...
Business

Arada to participate in Gulf’s largest real estate show, Cityscape Dubai

Arada will showcase its existing projects, Aljada and Masaar, as well as announce new expansion plans that cater to the...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

UAE Cabinet approves penalties for flouting Nafis initiatives, programmes

Launched as part of 'Projects of the 50', the program aims to accelerate the UAE's development journey and boost the...
  • Launched as part of 'Projects of the 50', the program aims to accelerate the UAE's development journey and boost the economy
  • If an establishment undertakes fake Emiratisation, a fine of no less than AED20,000 and not more than AED100,000 for each Emirati employee will be imposed
Business

Abu Dhabi launches association to promote blockchain in region in line with TOP CEO Conference call in May

The Middle East, Africa and Asia Crypto and Blockchain Association aims to bring industry players together to discuss strategies and...
  • The Middle East, Africa and Asia Crypto and Blockchain Association aims to bring industry players together to discuss strategies and address the challenges faced by the sector
  • Experts at the TOP CEO Conference and Awards held in May 2022 had called for entities such as MEAACBA to inform the masses and develop an ecosystem for blockchain and cryptos
Business

MSC World Europa, 22-deck cruise ship, docks at Doha for World Cup

Doha, Qatar—The 22-deck cruise ship MSC World Europa (floating hotel) has docked at Doha Port for FIFA World Cup fans...
  • The cruise ship, designed with the highest standards of security and safety, can accomodate 6,700 World Cup fans
  • The ship offers 7 swimming pools, 13 whirlpools, and the most luxurious yacht club, which includes public spaces, outdoor areas and new suites