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

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
Business

Dubai International Financial Center launches AI, UAE’s first coding license

Companies holding the license will be able to work within a stimulating environment at the DIFC Innovation Hub.
  • The license is expected to advance the country's Artificial Intelligence Strategy 2031.
  • The license provides an opportunity to obtain the UAE Golden Visas for employees.
Arts & Culture

64-feet Saudi stamp sets Guinness World Record

The Disney stamp, which commemorated Donald Duck’s 85th anniversary, measured a little over 44 square feet.
  • The design includes a winter wonderland scene, the Riyadh Season logo, a hot air balloon, a fountain, a racing car and fireworks.
  • The special stamp celebrates Riyadh Season, which was introduced in 2019 and has become one of the biggest events in the kingdom.
Business

Emirates Steel and Mauritania’s sign MoU

The two companies will form a joint venture company.
  • The two companies will study joint plans to produce iron oxide pellets, the primary feedstock required for Direct Reduction steel plants.
  • At 1.5 billion tons, Mauritania has the largest iron reserves in the Arab world and Africa.
Business

UAE, Saudi auditors’ association sign agreement to work jointly

The Internal Auditors Associations of the UAE and Saudi Arabia have signed a cooperation agreement to work the internal auditing...
  • The agreement aims to develop a framework for corporate governance to enhance investor confidence.
  • The agreement defined the frameworks for joint cooperation between them in several areas, most notably the participation in organizing of internal audit conferences.
Geostrategy

Cyprus president arrives in Riyadh to discuss bilateral cooperation

Nicos Anastasiades was received by Prince Mohammad bin Abdul Rahman bin Abdulaziz, Deputy Governor of the Riyadh Region.
  • Nicos Anastasiades was received by Prince Mohammad bin Abdul Rahman bin Abdulaziz, Deputy Governor of the Riyadh Region
  • The two countries will discuss bilateral cooperation and the regional situation
Business

Saudi Arabia regulates reporting of capital market violations

This regulation reportedly aims to improve the manner of the reporting of violations of the Capital Market Law and its...
  • The Board of Directors of Saudi Arabia’s Capital Market Authority gave its approval to this regulation
  • The move is said to be part of the authority’s efforts to better control and develop the local capital market
Geostrategy

GCC wants to expand strategic partnership with India

The remarks were made during the GCC Secretary General Al-Hajraf’s meeting with the Indian Ambassador to the Kingdom of Saudi...
  • The remarks were made during GCC Secretary General Al-Hajraf’s meeting with the Indian Ambassador to the Kingdom of Saudi Arabia Dr. Ausaf Sayeed
  • Al-Hajraf praised the level of bilateral relations between the GCC and India in light of the framework agreement for economic cooperation signed between the two sides in 2004
Infographics

PCR testing is a business success in the region

A large number of kits of the PCR test has been manufactured and used across the world in general and...
  • The WHO has said the PCR test is one of the most efficient to detect a Covid-19 infection, but also costlier than other methods
  • The organization describes has said the test needs to be run at a molecular laboratory, which contributes to the higher cost
Geostrategy

Jordan king meets with US CENTCOM commander

The meeting, attended by Crown Prince Al Hussein bin Abdullah II, discussed enhancing the strategic partnership between Jordan and the...
  • The meeting, attended by Crown Prince Al Hussein bin Abdullah II, discussed enhancing the strategic partnership between Jordan and the United States
  • Discussions also addressed regional and international efforts to fight terrorism, within a holistic approach
Videos

Is GCC inflation getting out of control?

Central bank action and risks to financial stability must be carefully monitored and managed as loose monetary policy is unwound....
  • The possibility of emergence of new Covid-19 variant sparks fear of more disruptions in the supply chain, which may add to the inflation woes in the GCC.
  • The anticipated global monetary tightening is likely to have an impact on the GCC growth outlook. Supply-driven inflationary risks are also imminent.

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

Burjeel’s nine-month net profit $55.83m

The company's revenue grew 17.8 percent year on year.
Business

e& commits to net-zero operations by 2030

The global technology and investment conglomerate pledged to achieve net-zero for Scope 1 and 2 emissions.
Business

S&P says GCC economies to get a boost from Qatar World Cup

Dubai, UAE—  The economies of the Gulf Cooperation Council will likely receive a boost from the FIFA 2022 World Cup,...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

UAE president issues new law on regulation, development of industry

The law which will come into effect from January 2023 aims to increase UAE’s attractiveness as investment destination.
  • The law which will come into effect from January 2023 aims to increase UAE’s attractiveness as investment destination
  • It allows the creation of a package of incentives and enablers for the industrial sector that support national strategic objectives
Interview

Crises augment EU-GCC energy & security cooperation

Josep Borrell, the EU High Representative for Foreign Affairs and Security Policy, points out that since the Ukrainian crisis, an...
  • The Ukrainian crisis has been a big push for the EU to understand the requirement of more renewables, especially the need to develop hydrogen, says EU official
  • The European Union has a new strategy for more engagement and better partnership with the Gulf countries, the bloc's foreign policy chief Josep Borrell adds
Geostrategy

COP27: ACG to give $24bn for climate action by 2030

The fund will support the acceleration of the energy transition, the increased resilience of food, transport, water and urban systems,...
  • The fund will support the acceleration of the energy transition, the increased resilience of food, transport, water and urban systems, and the promotion of energy security
  • The financial commitment by the Arab Coordination Group comes as part of a joint Call for Climate Action for Equitable Development at COP27