INSEAD Day 4 - 728x90

BYD logs record EV sales in 2025

It sold 2.26m EVs vs Tesla's 1.22 by Sept end.

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

Dubai GDP grows by 4 percent to reach $32.58 billion in first quarter of 2025

Human Health and Social Work activities registered the highest growth rate, rising 26 percent compared to the same period last...

Economy

Saudi Arabia’s real GDP up by 3.9 percent in Q2 2025: GASTAT

Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) grew by 3.9 percent in the second quarter of...

Business
Business

stc Group posts 9-month revenue

stc's revenue was $14.5 billion in January-September 2023.
  • Gross Profit for the period of 2023 reached US$7.7 billion (SAR28,875 million) with an increase of 1.8 percent compared to the same period last year.
  • Earnings before Interest, taxes, zakat, depreciation and amortization for the period reached $5 billion with a decrease of 2.35 percent compared to Jan-Sept 2023.
Geostrategy

Over 8,000 Palestinian fatalities, including 2,062 women, says UN report

UNITED NATIONS – More than 8,000 Palestinian fatalities were reported as of October 29, 2023, including 2,062 women, 3,324 children,...
  • Significant damage has been inflicted on critical infrastructure, affecting people's ability to maintain basic living standards, the report said.
  • At least 45 percent of Gaza's housing units have been destroyed or damaged, with 16,441 units destroyed, 11,340 severely damaged and uninhabitable.
Business

Arab Bank posts net profit

It posted a profit of $630 million in January-September 2023.
  • The Group maintained its strong capital base with a total equity of $10.8 billion.
  • Excluding the impact of devaluation of several currencies against the US dollar, loans grew by 4 percent.
Geostrategy

Iran, Russia to invest $38bn in developing INSTC

TEHRAN, IRAN – The Iranian head of Solyanka Port in Russia said that the International North-South Transport Corridor (INSTC) is a...
  • The Iranian head of Solyanka Port spoke of the measures taken by the Islamic Republic of Iran Shipping Line (IRISL ) to develop the INSTC route.
  • The IRISL group purchased 30 rail wagons, 5,400 containers and ordered the construction of 21 equipped vessels for strengthening maritime routes.
Business

Saudi Arabia’s Ministry of Investment inks 3 MoUs at FII7

RIYADH, SAUDI ARABIA – The Kingdom’s Ministry of Investment signed three memoranda of understanding (MoU) in the fields of biotechnology,...
  • The MoUs related to the biotechnology and pharmaceutical sectors aim to explore, develop, manufacture and market a range of potential new medicines.
  • The MoU of the financial services sector aims to provide an opportunity for investors to invest directly in key projects in line with the Saudi Vision 2030.
Business

PIF, Pirelli establish a JV  

The JV will set up a facility to make tires in Saudi Arabia.
  • PIF will hold a 75 percent stake in the new JV with Pirelli holding the remaining 25 percent.
  • The JV will manufacture high-quality tires for passenger vehicles, under the Pirelli brand, in the Kingdom.
Business

Ghitha Holding Q3 profit of $33m

The company gained from regional food processing.
  • Driven by strong results and business momentum, Ghitha reported revenue of US$898 million in the third quarter.
  • Revenues grew 120 percent year-over-year, driven by broad-based growth across categories and geographies.
Business

Bank Albilad posts net profit

The bank’s January-September 2023 profit was $469 million.
  • The bank reported a 3 percent year-on-year increase in gross operating income during January-September 2023 period.
  • The rise in gross operating income was mainly due to higher net income from investing and financing assets.
Business

RCU inks pact with Artefact, Dassault Systèmes for AI, digital solutions

ALULA, SAUDI ARABIA –   The Royal Commission for AlUla (RCU) has reinforced its commitment to technology innovation and cutting-edge digital...
  • The pacts are focused on the seamless integration of the latest and emerging digital products within AlUla's maturing technology eco-system.
  • The agreement will cover pivotal areas of development, from AI consulting and transformation to establishing a dedicated school of data & AI.
Business

NHC, NAVER Cloud ink pact

The pact aims at establishing advanced digital solutions.
  • The agreement aims to boost cooperation, achieve common goals, exchange experience in the application of the innovative solutions.
  • The pact will help achieve the strategic visions of the municipal and housing sectors by adopting the best technologies for a sustainable future.

Dubai GDP grows by 4 percent to reach $32.58 billion in first quarter of 2025

Human Health and Social Work activities registered the highest growth rate, rising 26 percent compared to the same period last...
Economy

Company News

BinDawood’s profit falls by 74%

Al-Othaim’s profit up by 436%

2 Emirates NBD India branches

Flydubai scales up flights

GAL signs MoU with GMF

Latest News

Deals worth $4.26 billion signed at inaugural Global Logistics Forum

Riyadh, Saudi Arabia -- More than 65 agreements and Memoranda of Understanding worth SAR 16 billion were signed at the...
Business

OPEC lowers 2024 oil demand forecast, citing robust non-OECD activity

According to the organization's October report, the total world oil demand is anticipated to reach 105.6 mb/d in 4Q-24, to...
Business

Sub-Saharan Africa: Nigeria takes #2 spot in global crypto adoption

Sub-Saharan Africa accounts for the global cryptocurrency economy’s smallest share, representing 2.7% of transaction volume worldwide between July 2023 and...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

‘Visa-free entry for GCC nationals will enhance business collaboration’

In an interview with TRENDS, CEO of ITCN Asia, Muhammad Umair Nizam highlights the expanding role of Pakistani IT firms...
  • ITCN Asia offers a platform for stakeholders to collaborate, uniting government and industry leaders for discussions on key tech issues, CEO Muhammad Umair Nizam said
  • Pakistan’s software services industry have stood out, with companies offering cybersecurity solutions, virtual reality for military and everyday use, he added
Economy

Central & Southern Asia and Oceania region leads the world in cryptocurrency adoption

The fifth annual Chainalysis Global Crypto Adoption Index looks at both on- and off-chain data to determine which countries are...
  • This year, crypto activity increased across countries of all income brackets
  • Central & Southern Asia and Oceania accounted for over $750 billion in crypto asset inflows
Business

UAE banking sector assets exceed $1.16 trillion by the end of June

Abu Dhabi, UAE -- The Central Bank of the UAE (CBUAE) revealed that total banking assets, including bank acceptance certificates,...
  • The assents registered a month-on-month increase of 0.5 percent, compared to AED 4.28 trillion in May 2024.
  • The total foreign assets of the Central Bank of the UAE exceeded the AED 770 billion barrier at the end of June, for the first time in its history.