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.

CBUAE, Islamic finance organizations discuss sustainable practices

ABU DHABI, UAE - The Central Bank of the United Arab Emirates (CBUAE) hosted several events with Islamic finance infrastructure...

Business

Monsha’at reports Q3 rise in SMEs driven by growth across non-oil sectors

RIYADH, SAUDI ARABIA  - The General Authority for Small and Medium Enterprises (Monsha'at) has released its latest quarterly SME Monitor,...

Economy
Expo 2020 DUBAI

Saudi Arabia wins Best Pavilion at Expo 2020 Dubai

The pavilion of Saudi Arabia in Expo 2020 Dubai has been awarded Best Pavilion by EXHIBITOR magazine.
  • The Saudi Pavilion has already won the Platinum Certificate in LEED by the US Green Building Council
  • It also holds three world records: the largest interactive light floor, the longest interactive water curtain, and the largest interactive digital screen mirror
Business

Julphar revenue up 100 percent

The growth attributed to increased market share in key operating regions.
  • In 2021, Julphar reported EBITDA from Continuing Operations at AED164.8 million.
  • The Company’s profit after tax for full year 2021 reached AED59.4 million.
Business

Ithmaar Holding of Bahrain to sell ‘assets’ to Al Salam Bank

Shareholders of Ithmaar Holding have approved a plan to sell a few of the company's assets to Al Salam Bank.
  • The assets include Ithmaar Holdings’ ownership stake in both Bank of Bahrain and Kuwait and Solidarity Group Holding, as well as the consumer banking business of Ithmaar Bank
  • The holding company will retain a diversified portfolio of international and local financial and other assets, including banking businesses in Bahrain and Pakistan
Geostrategy

Powered solely by renewables, PORRIMA docks at Dubai Harbour

Dubai Harbour welcomed the Swiss experimental vessel powered solely by renewables, PORRIMA, to its marinas on Thursday as part of...
  • The first-of-its-kind solar, wind and hydrogen-powered ship has travelled more than 11,000 kilometers without stopping since departing Osaka, Japan, on December 18, 2021.
  • Now, using solar, wind and hydrogen, the 36-metre 100-tonne vessel also utilizes artificial intelligence and technologies inspired by nature.
Business

Dubai Chamber sets up Dubai Council for Wooden Ships

Dubai Chamber of Commerce has announced the establishment of the Dubai Council for Wooden Ships, a new business group that...
  • The business group, operating as a non-profit body under the umbrella of Dubai Chamber of Commerce, will serve common interests and tackle sector challenges through cooperation
  • Joined by a wide variety of businesses in this sector in Dubai, the group provides a platform for member companies to share knowledge and policy recommendations
Business

Dubai records $2.53 billion worth of weeklong real estate deals

Dubai recorded $2.53 billion worth of real estate and properties transactions valued during the week ending Friday, according to the...
  • A total of 355 plots were sold for AED 1.33 billion, while 1,547 apartments and villas were sold for AED 2.96 billion.
  • Al Hebiah Fifth recorded the most transactions for this week by 244 sales transactions worth AED 521.52 million.
Economy

Dubai, India discuss trade and economic cooperation

"We provide the best facilities and customs services to Indian businesses which can also benefit from the advanced infrastructure and...
  • "We provide facilities and customs services to Indian businesses which can also benefit from the advanced infrastructure and logistics," Dubai customs official Musabih said
  • Indian counsel Kalimutu applauded Dubai Customs’ efforts in facilitating Indian trade, which helps grow mutual trade and investments
Business

OPEC Fund approves $233 million for development projects

The grants were approved at the 179th session of OFID’s Governing Board in Vienna.
  • The projects will reportedly, among other things, support economic recovery, help bring up new infrastructure, and boost food security
  • Overall, they are expected to benefit public-sector projects and promote sustainable development around the world
Geostrategy

UAE calls on international community to pressure Houthis to stop transgressions

UAE lauded the UN Security Council's decision to list the Houthi militias as a terrorist organisation.
  • UAE lauded the UN Security Council's decision to list the Houthi militias as a terrorist organisation
  • The country said it supports the UN's efforts to provide basic needs of the Yemeni people
Geostrategy

UAE foreign affairs minister stresses peaceful resolution of Ukraine conflict

The ministers of UAE and Russia discussed cooperation between the two countries and ways to enhance the bilateral strategic partnership...
  • Sheikh Abdullah bin Zayed Al Nahyan met Russian foreign minister Sergey Lavrov in Moscow and discussed challenges concerning security and stability in the MENA region.
  • Al Nahyan also expressed the UAE's deep concern over the humanitarian impact of the conflict on civilians.

CBUAE, Islamic finance organizations discuss sustainable practices

ABU DHABI, UAE - The Central Bank of the United Arab Emirates (CBUAE) hosted several events with Islamic finance infrastructure...
Business

Company News

Latest News

It’s time to create and support Climate Solidarity Pact

Proposing the creation of a Climate Solidarity Pact, bringing together developed and emerging economies to combine resources and capacities to...
Geostrategy

UAE urges global efforts for trade at B20 Summit in Indonesia

BALI, INDONESIA - Speaking at the B20 Summit in Bali, Indonesia, Minister of State for Foreign Trade Dr. Thani bin...
Geostrategy

Bahrain made the highest rate hike in GCC region

Many Gulf states, including the region's two biggest economies, raised key interest rates earlier this month after the US Fed...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

ADNOC Drilling 9M net profit $568m

Onshore revenue for the period was $1.074 bn, up 25% YoY.
  • The third quarter revenue was $372 million, up 33 percent year-on-year.
  • Offshore revenue for the nine-month period was $431 million, broadly flat versus the prior year.
Business

UAE capital records real estate deals worth $5.72 billion in third quarter

Abu Dhabi, UAE--- Abu Dhabi's real estate market recorded a total of 4,441 transactions amounting to over AED 21.04 billion...
  • Department of Municipalities and Transport said the emirate recorded 1,995 real estate sales worth AED 5.39 billion, and 2,446 mortgage transactions worth AED 15.64 billion.
  • Yas Island topped the list logging transactions worth AED 1 billion, while Al Saadiyat Island coming in second with transactions worth AED 929 million.
Geostrategy

UAE, Indonesian Presidents to enhance bilateral relations

SOLO, INDONESIA - President Sheikh Mohamed bin Zayed Al Nahyan and President Joko Widodo of Indonesia held talks aimed at...
  • The meeting came as part of the UAE President's working visit to Indonesia to participate in the G20 Leaders' Summit.
  • The two Presidents exchanged views on several regional and international issues of common concern.