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

Climate chaos impact on millions frames discussions at COP28

With the countless repercussions of extreme weather conditions, the planet is witnessing increasing political unrest, deaths and diseases.

COP28 UAE

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
Business

Saudi stocks shoot up on the back of high oil prices

Nudged by high oil prices, Saudi stocks inched up as the main index, TASI, gained 0.24 percent to touch 12,882,...
  • Oil prices kept rising rapidly, as Brent crude oil peaked at $130.85 per barrel, while US WTI crude reached $125.96 per barrel
  • Wataniya Insurance Co. gained 4.40 percent at the opening bell to be the top gainer at the opening bell
Business

Major UAE companies to work for raising solar power production capacity

The companies are Emirates Global Aluminum (EGA), Abu Dhabi National Energy Company (TAQA), Dubai Holding and Emirates Water and Electricity...
  • TAQA and Dubai Holding envisage acquiring EGA's electricity generation assets in the UAE, holding a 50 percent share each.
  • For TAQA, the acquisition of EGA's power assets would increase the company's UAE-based capacity to more than 23 gigawatts.
Geostrategy

Kyrgyzstan and Ras Al Khaimah to expand cooperation in investment, trade

Kyrgyzstan and the UAE have discussed enhancing the investment and trade cooperation between the two sides. Mohamed Ali Musabbeh Al...
  • Both sides agreed at a meeting to organize a business visit by a delegation from the chamber to Kyrgyzstan.
  • The meeting also discussed several projects and investment opportunities that will increase the trade exchange between Kyrgyzstan and Ras Al Khaimah.
Economy

Over 27,800 new firms join Dubai Chamber of Commerce in 2021

Over 27,800 new member companies joined the Dubai Chamber of Commerce in 2021, a 66.8 percent increase compared to 2020,...
  • The Chamber said it also achieved its goal of becoming 100 percent paperless by the end of 2021, representing an important milestone in its digital transformation mission.
  • The value of exports and re-exports of Dubai Chamber of Commerce members amounted to AED227 billion.
Economy

Abu Dhabi’s agricultural production in 2020 reaches $3.72 billion

Abu Dhabi's agricultural production in 2020 was valued at AED13.7 billion ($3.72 billion) in 2020, with an increase of 12...
  • Crop production reached 421,524 tons, about 59.6 percent of the total agricultural production, with an increase of 33 percent compared to 2017.
  • Dates made up 61 percent of the total plant production with about 258,335 tons, compared to 39 percent of vegetable and fruit production.
Business

Most of Saudi employers to add to workforce in 2022: Hays

Some 80 percent of Saudi Arabia's employers are considering to add to their workforce in 2022, with a reasonable decline...
  • The Hays report noted that 43 percent of employers intended to expand their workforce in 2021, while it was just 29 percent in 2020
  • The research report suggests that 2022 may face a drought in hiring employees who fall under technology, managerial, and leadership
Business

Empower to pay $136m in dividends

The dividend is 53.4 percent of the net profit earned by the firm last fiscal.
  • The total dividends to shareholders amounted to AED3.15 billion since its inception in 2004, Empower said.
  • The company reported total revenue of AED2.464 billion in 2021, increasing 9.3 percent compared to 2020.
Business

SIB foreign ownership up 40%

The decision follows approval of the Bank's General Assembly.
  • The announcement follows the approval of the Bank's General Assembly, held on 26th February, and highlights an increasing demand from investors
  • Mohamed Abdalla, CEO of Sharjah Islamic Bank, stressed that the UAE is in a competitive position which enables it to compete with advanced global economies
Geostrategy

Jordan and Morocco keen to boost bilateral cooperation, regional development

Jordan Senate President Faisal Fayez Monday held talks with Moroccan officials in Rabat on bolstering Jordan-Morocco cooperation and the regional...
  • Jordan's Senate President Faisal Fayez held the discussions with his Moroccan counterpart Naam Miyara in Rabat.
  • Fayez hailed the role of King Abdulla II and that of Morocco's Mohammed VI in strengthening the bilateral ties.
Economy

Female empowerment key to Gulf economic growth

Several initiatives taken by Gulf states demonstrate women will play a key role in achieving the transformational goals.
  • Women's hiring in GCC countries has increased substantially during the past decade.
  • Saudization and Emiratization of jobs is likely to see a surge in the number of women joining the workforce.

Climate chaos impact on millions frames discussions at COP28

With the countless repercussions of extreme weather conditions, the planet is witnessing increasing political unrest, deaths and diseases.
COP28 UAE

Company News

Latest News

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...
Geostrategy

Saudi Arabia raising phosphate fertilisers production

The kingdom is among the world’s leading phosphate exporters, along with China, the US, Russia and Morocco.
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...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Kuwait to develop 400 projects on Saji Island

Kuwait City, Kuwait—Kuwait will set up more than 400 local development project on Saji Island, according to the acting director...
  • The Marina will allocate water taxis to transport visitors to and from the island from the city of Salmiya, as well as organize tours
  • Adel Al-Hasawi said that the national fund, which is overseeing the project, is looking to attract a variety of businesses to the island
Arts & Culture

‘Culture is prerequisite for peace in the world’

A robust cultural and creative sector remains at the heart of the UAE’s growth strategy and to give it a...
  • It is important to inculcate culture among our youth and allow them to explore creatively the bridging of their heritage with the opportunities of the future, says UAE minister
  • A robust #cultural and #creative sector remains at the heart of the #UAE’s #growth strategy, highlights Noura bint Mohammed Al Kaabi at the fifth edition of the Paris Peace Forum

Paris Peace Forum: Queen Rania calls for paradigm shift in response to global crises

The Queen explained that the global refugee crisis has reached "epic proportions" with the number of displaced people around the...
  • The Queen explained that the global refugee crisis has reached "epic proportions" with the number of displaced people around the world now exceeding 100 million
  • Launched in 2018, the Paris Peace Forum convenes yearly with the aim of contributing to bridging the governance gap by bringing together multiple stakeholders