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

UAE presents its maritime contributions at IMO meet in UK

DUBAI, UAE - Presenting its category B candidacy in the International Maritime Organization (IMO) Council at the organization’s focus group...

Business

UAE approves Dubai Metro Blue Line project

DUBAI, UAE - Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has approved the...

Geostrategy
Economy

UAE non-oil trade totals AED16.14 trillion in the last 10 years

The non-oil trade of the UAE has totalled AED16.14 trillion in the last ten years as the country's growth returned...
  • According to Dr. Thani bin Ahmed Al Zeyoudi the UAE aims to increase the level of investment coming to the country to AED1 trillion within nine years
  • "We work according to the plans of the UAE’s leadership to double national exports, foreign trade and economic growth," Al Zeyoudi said
Business

ADNOC teams up with Proman to produce methanol in Abu Dhabi

Abu Dhabi National Oil Company (ADNOC) has signed an agreement with Proman, one of the world's leading producers of methanol,...
  • The facility will meet growing domestic and international demand for this clean and versatile chemical commodity
  • Growth is expected to be driven by emerging economies in Africa and Asia, while methanol production in the UAE will support decreased reliance on imports
Economy

UAE and Latvia launch economic cooperation program in six sectors

The UAE and Latvia have agreed on a six-track economic cooperation program covering trade and investment, innovation and advanced technology,...
  • The program covers investment, innovation and advanced technology, transportation and logistics, agriculture, food, education and science.
  • An MoU between the Investment and Development Agency of Latvia (LIAA) and the SMEs Development Department at the UAE Ministry of Economy.
Business

Etihad Cargo revenue grows 49 percent

The company recorded 27 percent YOY rise in freight carried.
  • In Q1, Etihad Cargo temporarily modified five Boeing 777 aircraft to support cabin-loaded cargo.
  • By mid-2021, Etihad Cargo had announced the recovery of more than 90 percent of its network compared to pre-COVID.
Economy

Dubai to have Traffic Safety Strategy 2022-2026

The strategy’s objective is to make Dubai one of the safest cities in the world and achieve the zero road...
  • The strategy’s objective is to make Dubai one of the safest cities in the world and achieve the zero road deaths vision
  • The strategy will complement what has been achieved within the objectives of the National Agenda and Dubai Plan 2021
Economy

Dubai approves Savings Scheme for foreign employees in Govt

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, approved on...
  • The initiative will also ensure that Dubai remains an attractive career destination that appeals to outstanding talent
  • The announcement was made during a meeting of The Executive Council of Dubai held at "Deep Dive Dubai."
Business

Arada awards two contracts

The $32.13m contracts are aimed at development in Masaar.
  • Work by both contractors is scheduled to be completed by end of April, in time for the opening of the Masaar Experience Center in June.
  • Masaar is AED8 billion($2.18b) forested megaproject located in the Suyoh district of Sharjah.
Business

Dubai Derma 2022 registers $540m in business deals, attracts 21,000 visitors

The Dubai World Dermatology and Laser Conference and Exhibition (Dubai Derma 2022) concluded its 21st edition on Wednesday, and registered...
  • It focused on various developments related to cosmetic surgery, lasers, cosmetic dermatology and anti-ageing, among others.
  • The conference featured 326 scientific lectures, 79 workshops, and more than 90 scientific poster presentations.
Business

TAQA to recommend $600m dividend

The company has already paid $500m in quarterly dividends.
  • The dividend payment will be in addition to the final payment of AED1.2 billion ($330 million).
  • AED1.9 billion ($500 million) (1.65 fils per share) have already been paid in quarterly dividends.
Economy

Central Bank of UAE approves creation of 5,000 jobs for Emirati nationals

The Central Bank of UAE has approved the creation of 5,000 new jobs by the end of 2026 for Emirati...
  • The jobs have been announced as part of the Emiratization of managerial positions in the banking and insurance sectors.
  • The jobs will be created in coordination with the Emirates Institute for Banking and Financial Studies and the Emirati Talent Competitiveness Council.

UAE presents its maritime contributions at IMO meet in UK

DUBAI, UAE - Presenting its category B candidacy in the International Maritime Organization (IMO) Council at the organization’s focus group...
Business

Company News

Latest News

SALIC buys 9.2 percent stake in LT Foods

The deal follows the acquisition of 30% stake in Daawat
Business

ENOC, IHI sign low-carbon ammonia and hydrogen supply chain agreement

Green ammonia, which can be achieved by combining and reacting green hydrogen and nitrogen at high temperatures and pressures, can...
Business

Saudi Ports register 15% growth in October container activity

Container throughput the Kingdom's ports continued its upward year-on-year movement during October 2022, soaring to 694,517 twenty-foot equivalent unit at...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Private school operator Taaleem offers 25 percent stake in IPO

Taleem set the price range at AED2.95 ($0.80) and AED3 per share, implying a market capitalization at time of listing...
  •  The final offer price is expected to be announced on 18 Nov. 2022. Listing of the shares and trading on DFM is expected to begin 29 Nov. 2022.
  • The company is seeking to raise total capital of $204 million from the IPO, whose net proceeds will be used to expand its premium K-12 segment, Taaleem said in a statement.

NEOM has a strict data and information security strategy: CEO

Eng. Al-Nasr called for developing new and innovative ways to confront escalation in cyber-attacks and address them quickly.
  • Eng. Al-Nasr called for developing new and innovative ways to confront escalation in cyber-attacks and address them quickly
  • He called for finding and providing technical security solutions that give access to the best possible safe environment for users of the futuristic city’s technologies
Business

Burjeel’s nine-month net profit $55.83m

The company's revenue grew 17.8 percent year on year.
  • The company said the net profit increased mainly due to the Group’s service mix "delivering improved yield and utilization across the network".
  • The company raised AED1.1 billion ($299.49 million) after offering a 11 percent stake in an IPO, which was oversubscribed 29 times to over AED32 billion.