INSEAD Day 4 - 728x90

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

IPOs in MENA raise US$5.8bn in first nine months of 2023

ABU DHABI, UAE - A recent report revealed that 29 initial public offerings (IPOs) were recorded in the Middle East...

Market Report

Arab ministers meet in Jordan, seek resolution to Gaza conflict

AMMAN, JORDAN  – Foreign ministers from key Arab nations – including Saudi Arabia, the United Arab Emirates, Egypt, Qatar, and...

Geostrategy
Economy

Dubai plans to attract 50 multi-national companies under a three-year strategy

Dubai plans to attract 50 multinational companies within three years and push the external expansion of 100 companies from Dubai...
  • Drawn by Dubai International Chambers, the strategy will also push the the external expansion of 100 companies from Dubai to priority foreign markets.
  • It will also support and motivate multinational companies to list on the Dubai Financial Market.
Business

Dubai Islamic Bank issues $750m five-year sukuk

Dubai Islamic Bank has successfully priced its $750 million five-year senior sukuk, taking advantage of global interest in Islamic bonds....
  • The debt sale, a first in the UAE this year, attracted huge investor interest and was more than 2.5 times oversubscribed
  • The bonds were priced at 95 basis points with a profit rate of 2.74 percent
Business

SAN Group to invest in RAKEZ

The firm will construct a sustainable hydrogen production unit in the zone.
  • This biotech facility will consist of a research center, laboratory, desalination plant, greenhouse as well as hydroponic and aquaponic indoor systems.
  • The project will be constructed with an investment of $3.2 million and will be operational at the end of 2022.
Business

DP World volume growth 9.4 percent

All DP World regions delivered volume growth, especially India.
  • 2021 gross volume growth was broad-based with India, Asia Pacific, Middle East & Africa, Europe, Australia and Americas regions being the key growth drivers.
  • Chief Executive Officer Sultan Ahmed Bin Sulayem said the performance was due to the company's continued investment in high-quality assets in the right locations.
Business

EGA to build an aluminum recycling facility in UAE

Emirates Global Aluminum is looking to set up an aluminum recycling facility with a capacity to churn out 150,000 tonnes...
  • EGA intends to market recycled aluminum under the product name "EternAL," the company announced on Wednesday in a statement
  • Feasibility studies for the project are underway. Production ramp-up could begin as early as 2024, the company revealed
Economy

UAE climbs to 3rd globally in Agility Emerging Markets Logistics Index

The UAE is the most competitive emerging market in GCC and the third most competitive on a global scale after...
  • The UAE out-performed all 50 countries in business fundamentals, an area where Gulf and MENA countries are clear leaders
  • The 2022 Agility Emerging Markets Logistics Index is the company’s 13th annual ranking of the world’s 50 leading emerging markets
Arts & Culture

Jordan announces program of jurisprudence lessons in the Kingdom’s mosques

The initiative is about enlightening people on the matters of their religious jurisprudence and compliance with the hadith of the...
  • The initiative is about enlightening people on the matters of their religious jurisprudence and compliance with the hadith of the Prophet
  • The initiative also aims to introduce scholars, mosque pioneers and students of knowledge to jurisprudence and its meanings in Qur’an and Hadith
Business

E-commerce in F&B sector in Gulf is projected to reach $71.62 bn by 2028

E-commerce in the F&B industry is booming with recent research forecasting it to reach USD71.62 billion by 2028, registering a...
  • These trends have led to an urgent need for the industry to dig deeper into its e-commerce offerings to level up the ecosystem
  • Trends, trials, and solutions to truly unlock the e-commerce potential will be explored in great depth for the first time at Gulfood 2022
Geostrategy

Israel says Syria fired anti-aircraft missile during reported Israeli strike

Syrian state television reported an Israeli strike around Damascus.
  • Syrian state television reported an Israeli strike around Damascus
  • Israel has not confirmed it carried out any missile strike against Syria
Business

Qatar Industrial Co. posts net profit of $38m in 2021

Qatar Industrial Manufacturing Co. has reported a net profit of  $38m for 2021 in comparison to net profit of $23m...
  • The company disclosed the interim financial statement for the 12-month period ending Dec. 31, 2021
  • Qatar Industrial Manufacturing Co. was established in 1990 with a capital of QR 475.2 million

IPOs in MENA raise US$5.8bn in first nine months of 2023

ABU DHABI, UAE - A recent report revealed that 29 initial public offerings (IPOs) were recorded in the Middle East...
Market Report

Company News

Latest News

ADNOC Drilling awards $1.6 bn agreement

The award is aimed at upping lower-carbon-intensive production capacity.
Business

Video: IMF echoes what TOP CEO Conference forecast about inflation in May 2022 – MENA growth may slow

Inflation has a significant cost-push pressure on cost of living and will impact the daily set of requirements of people...
Videos

Saudi Arabia, Egypt discuss renewable energy cooperation

The two ministers also talked about the progress in the electrical interconnection efforts.
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

e& posts 1.9% jump in profit

The telecom company's net profit vaulted to $680.5m in Q3.
  • The telecom company said that its revenues surged to hit $3.54 billion
  • Its subscribers in the UAE reached 13.3 million in Q3 2022, representing an increase of 11 percent over the same period last year
Business

40 Saudi, German companies discuss investment opportunities

The German delegation comprised companies working in the areas of water, training, education, infrastructure, industries, constructions and innovation.
  • The German delegation comprised companies working in the areas of water, training, education, infrastructure, industries, constructions and innovation
  • The two countries have an institutional base for their economic ties represented by the Saudi-German Joint Committee and the Saudi-German Business Council
Economy

UAE, US partner to invest $100bn in renewables, clean technologies

The UAE-US Partnership for Accelerating Clean Energy (PACE), aims to produce 100 new gigawatts (GW) of clean energy in the...
  • The UAE-US Partnership for Accelerating Clean Energy (PACE), aims to produce 100 new gigawatts (GW) of clean energy in the two countries
  • The UAE has invested more than US$50 billion over the past ten years in clean energy technologies and solutions around the world