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

8 pacts on trade, investment inked in Saudi-Algerian Business Forum

RIYADH, SAUDI ARABIA - The Saudi-Algerian Business Forum concluded its activities with the two countries signing eight agreements aiming at...

Business

Earth to warm up to 2.9C even with current climate pledges, says UN

PARIS, FRANCE -  Countries' greenhouse gas-cutting pledges put Earth on track for warming far beyond key limits, potentially up to a...

Geostrategy
Business

DEWA electricity and water accounts rise by above 40 percent in 5 years

Dubai Electricity and Water Authority (DEWA) announced that the number of electricity accounts reached 1.06 million by the end of...
  • The number of electricity accounts reached 1,061,476 by the end of 2021 compared to 752,505 at the end of 2016.
  • DEWA’s total capacity increased to 13,417MW of electricity, said Saeed Mohammed Al Tayer, MD & CEO of DEWA.
Business

Egypt sets up $50m venture capital fund for startups

The World Bank and MSMEDA is eager to review and develop the needs of startups.
  • The World Bank is supporting the operation of the program, aimed at tech-based startups
  • The fund was announced by Egypt's Minister of Trade and Industry, Nevine Gamea
Business

Ras Al Khaimah provided $1.9m package to local businesses during pandemic

The Ras Al Khaimah Department of Economic Development (RAK-DED) offered AED 7 million ($1.9 million) in economic stimulus package to...
  • The package was provided to support the local economy and ensure business continuity during the COVID-19 pandemic.
  • RAK said the package included licenses registered with RAK-DED and affected by the pandemic such as infrastructure projects and SMEs.
Business

Federation of Saudi Chambers signs deal to host UN Global Compact

The Federation of Saudi Chambers of Commerce signed an agreement to host the local network of the United Nations Global...
  • This pact affirms Federation's role in realizing the importance of corporate sustainability in implementing the programs and initiatives of Saudi Vision 2030.
  • It also covers the sustainable development goals of the UN through the Saudi private sector.
Business

Dubai international pharma exhibition generates deals worth $1.38 bn

The 27th edition of the Dubai International Pharmaceutical & Technologies Conference and Exhibition (DUPHAT 2022) has generated direct and indirect...
  • The largest of its kind in the region, DUPHAT 2022 was held at the Dubai World Trade Centre and featured the participation of a number of doctors and pharmacists.
  • The event attracted more than 22,000 visitors and participants from 82 countries and featured 140 speakers who shared their insights at 112 scientific sessions.
Business

Saudi National Bank looks to make acquisitions in Europe

Saudi National Bank, with backing from its largest shareholder, the Public Investment Fund, is looking to make big acquisitions in...
  • Executives of the Kingdom's biggest bank have been eyeing up potential targets and will present the outline of a new strategy to the board in the next few months
  • The lender, which has a market value of $82 billion, will only start analyzing potential targets in detail following the outcome of that review
Business

Dubai records weekly real estate transactions worth $1.9 billion

Real estate transactions worth AED7.1 billion ($1.9 billion) were recorded by the Dubai Land Department during the week ending 25...
  • The total number of transactions was 2,064, which included 300 plots of land that were sold for AED2.58 billion and 1,382 apartments and villas sold for AED2.88 billion.
  • The top transactions were a plot of land in Marsa Dubai that sold for AED535.92 million, followed by a plot that was sold for AED476.81 million in Marsa Dubai.
Business

At $2.24trn value, Aramco tests Apple for the top slot

Aramco is inching closer to dislodging Apple as the world's most valuable company when the former's shares rose up, taking...
  • The Saudi oil giant surpassed Microsoft, claiming its position as the second-largest valued company worldwide
  • As of 11.04 a.m. Saudi time, shares stood at SR42 ($11.2) after the oil giant closed a $15.5 billion pipeline deal
Business

e& 2021 net profit $2.53 bn

The net profit was 3.2 percent higher than in 2020, the company said.
  • UAE’s largest telecom operator said that foreign ownership limit in share capital from 20 pc to 49 pc increased ownership stake in Maroc Telecom Group from 48.4 pc to 53 pc.
  • The company has proposed a dividend of AED 0.4 per share for the second half of 2021, representing a total dividend for FY2021 of AED 0.8 per share.
Business

Ajman Free Zone’s technology sector records 21% growth in 2021

The positive growth in results indicate the growing confidence of foreign investors and technology companies in AFZ's offerings in the...
  • The positive growth in results indicate the growing confidence of foreign investors and technology companies in AFZ's offerings in the sector
  • The business hub currently hosts more than 550 registered companies in the sector – cementing its position as one of AFZ’s strongest business areas

8 pacts on trade, investment inked in Saudi-Algerian Business Forum

RIYADH, SAUDI ARABIA - The Saudi-Algerian Business Forum concluded its activities with the two countries signing eight agreements aiming at...
Business

Company News

Latest News

Saudi signs agreements with Oman, Egypt to boost energy ties

Sharm el-Sheikh, Egypt—Saudi Arabia has signed two separate agreements with Oman and Egypt to boost ties in the energy field....
Business

UAE, Jordan and Israel advance Project Prosperity

The three nations vow to advance clean energy and sustainable water desalination projects announced last year, while UAE, Indonesia unveil...
Business

UAE views creativity through the lens of openness

"While living in Dubai, and through my performances in the UAE, I found that the culture of tolerance here is...
Arts & Culture
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

Jordan imported 405k barrels of Iraqi crude in October

AMMAN, JORDAN - Jordan imported about 405,550 barrels of crude oil from Iraq in October, an average of 13,000 barrels...
  • Jordan had imported roughly three million barrels of Iraqi crude from September 2021 to October 2022.
  • The crude oil was transported by 11,565 Jordanian and Iraqi tanker trucks.
Geostrategy

UAE, Russia discuss ways to bolster medical collaboration

DUBAI, UAE - UAE's Ministry of Health and Prevention (MoHAP) discussed with the Russian Ministry of Industry and Trade ways...
  • The two sides discussed ways to encourage more Russian companies to transfer some of their production lines to the UAE.
  • The two sides discussed exchange of medical expertise and ways to expand partnerships in the pharmaceutical sector between UAE and Russia.
Business

Ahlibank 9M net profit $65m

Customer deposits up by 9.2% to reach $5.79 bn.
  • Net loans, advances and financing grew by 7.3 percent, reaching RO 2.538 billion.
  • The bank's operating income and expenses also increased to the tune of 13 percent (RO 67.93 million)