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.

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

Qatar posts trade balance surplus of US$16.7bn in Q3 2023

DOHA, QATAR - The merchandise trade balance of Qatar (difference between total exports and imports) recorded a surplus of US$6.7...

Business
Geostrategy

Arab Youth Council and HSBC to educate Arab students about climate action

HSBC sponsors the program that provides open-source sustainability skills, ideas and solutions to all university and college students in the...
  • The two parties signed a pact by which they will cooperate in building the capacities of students and developing their skills.
  • The two parties would collaborate to implement an interactive curriculum project available to all students of universities, colleges.
Business

Saudi Ports Authority posts 17.5 percent increase in cargo volume

Saudi Ports Authority has posted a 17.5 percent increase in its general cargo's volume of tons in 2022, compared to...
  • The volume of tons has exceeded 24.4 million tons, while the number of transshipment containers has increased by 3.4 percent during that period
  • However, the global supply chain disturbance has led to a decrease in Saudi ports’ volume of foodstuffs by 2.05 percent — and a fall in the number of livestock by almost 63 percent
Geostrategy

The first World Police Summit begins at Dubai Exhibition Center

The summit will address the needs and challenges of modern happenings such as cybercrime, urbanization, digital evolution and post-pandemic recovery.
  • It is a four-day event hosted and organized by Dubai Police in collaboration with dmg events.
  • The summit features themed conferences and keynote addresses and panel discussions with experts.
Business

Sanad and Thales sign MoU

The two companies will collaborate on aviation services.
  • Knowledge exchange will be a key focus under the terms of the agreement, and Thales will serve as a partner in diversifying Sanad’s business portfolio towards industrial services.
  • Sanad and Thales will work collaboratively on regional and international projects, wherein Sanad would lead on providing cutting-edge industrial systems.
Business

Jadwa of Saudi Arabia launches a $800m real estate fund

Jadwa Investment of Saudi Arabia has launched a new Shariah-compliant real estate fund to the tune of $800 million. The...
  • The Riyadh-based company, which provides asset management and financial advisory, partnered with Tatweer Group, NUMU Holding Co. and Riyad Bank to launch this closed-ended fund
  • The fund provides investors with a stable stream of income by investing in differentiated, income-generating properties in the Kingdom
Business

Sadara Chemical Co. posts SR3.1bn profit

Sadara Chemical Co., a joint venture between oil major Saudi Aramco and US Dow Chemical Co., has posted a net...
  • On the back of higher selling prices, the giant JV, specialized in producing a wide range of specialty chemicals, erased losses of SR3.2 billion sustained a year earlier
  • The 200-percent increase in profit was coupled with a rise in revenue of over 67 percent to as high as SR17.6 billion during the year
Business

Al-Dawaa starts trading on TASI

The pharmacy chain operator collected $500 million from shares buyers.
  • The operator of one of Saudi largest pharmacy chains, Al-Dawaa offered 25.5 million shares in an initial public offering, representing 30 percent of capital.
  • Al-Dawaa operates a network of pharmacies with over 800 outlets across 130 cities in Saudi Arabia. It posted a revenue of about 5 bn riyals ($1.3 bn) and profit of 246m
Business

Valor International partners with HFZA

The companies will expand regional operations, boost production capacity.
  • Valor International FZC will invest another AED77 million to build a multifunctional mini refinery over 193,750 sq. ft leased from the free zone
  • With the new expansion plans, the total value of Valor’s investments in the free zone will reach close to AED200 million
Business

Muscat raises foreign ownership in joint stock companies to 100%

The decision to raise the percentage of foreign investment in public companies is one of the most important steps to...
  • The decision to raise the percentage of foreign investment in public companies is one of the most important steps to include the market in global emerging market indices
  • Oman plans to list 35 state-owned companies in the next five years, with a focus on listing one or two firms from the oil sector during the current year
Geostrategy

Jordanian-Saudi joint military drill kicks off in KSA

The exercise aims to enhance joint cooperation, exchange expertise between the Saudi and Jordanian armed forces, the head of the...
  • The exercise aims to enhance joint cooperation, exchange expertise between the Saudi and Jordanian armed forces, the head of the Jordanian delegation Colonel Khaled Shamaileh said
  • Director of the exercise from the Saudi armed forces, Brigadier General Muqbel bin Mohammad Al-Harbi were provided field training to tackle weapons of mass destruction

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

Company News

Latest News

Invictus 9M net profit $105m

The firm reported a 125 percent increase in its revenues.
Business

Saudi Arabia to host Under-21 World Snooker Championship in 2023

Riyadh, Saudi Arabia- --Saudi Arabia will host the World Under-21 Snooker Championship for men and women in July 2023, SPA...
Arts & Culture

PIF sells 10 percent stake in Tadawul Group at $51 per share

The offering size was SAR 2.3 billion ($611 million), making it the second largest Accelerated Bookbuild Offering to ever take...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

Jordan King and UK PM meet to discuss strategic relations

London, UK— King Abdullah of Jordan and UK Prime Minister Rishi Sunak have met in London to discuss the development...
  • The king expressed Jordan’s keenness to advance its friendly ties with the UK and bolster cooperation in the political, economic and defense fields
  • He told the British PM that Jordan would continue to safeguard Islamic and Christian holy sites in Jerusalem under the Hashemite Custodianship
Economy

Saudi Arabia raising phosphate fertilisers production

The kingdom is among the world’s leading phosphate exporters, along with China, the US, Russia and Morocco.
  • The kingdom is among the world’s leading phosphate exporters, along with China, the US, Russia and Morocco
  • The oil-rich country plans to increase capacity by 50 percent to produce 9mn tonnes of phosphate fertilisers a year
Economy

Qatar and Kuwait renew pledge to help Afghanistan with aid

United Nations, US—Reiterating their pledge to continue providing aid to Afghanistan, Qatar and Kuwait have said they will continue to...
  • Sheikha Alia Ahmed said that Qatar has made peace and development a priority of its post-war engagement in Afghanistan, particularly the issue of empowering women and girls
  • Bader Al-Daihani said that Kuwait has provided $92 million in humanitarian aid to Afghans