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.

FGCC Chambers to hold GCC-Egyptian Business Forum in Saudi Arabia

AL-KHOBAR, SAUDI ARABIA - The Federation of Egyptian Chambers of Commerce (FEDCOC) is scheduled to host the first Gulf-Egyptian Business...

Business

Bahrain suspends economic relations with Israel

DUBAI, UAE - Bahrain has recalled its Ambassador from Israel and decided to suspend economic relations with Tel Aviv in...

Geostrategy
Business

Participants from 42 countries to attend Abu Dhabi Date Palm Conference

The 7th International Date Palm Conference will be held at Emirates Palace Hotel, in Abu Dhabi, from 14th to 16th...
  • Minister of Tolerance and Co-existence Sheikh Nahyan said that this year's conference is significant by all standards.
  • 475 international researchers and experts will participate in the conference being held from 14-16 March.
Geostrategy

Saudi sends 60,000 more metric tons of diesel to Yemen under SDRPY

Around 60,000 metric tons of diesel, which is the seventh shipment of the Saudi oil derivatives grant for Yemen, arrived...
  • The fresh shipment brings the the total amount of oil derivatives supplied to Yemen since the beginning of the grant to 596,000 metric tons.
  • The oil derivatives grant is part of SDRPY support, which has provided more than 207 development projects and initiatives in several sectors.
Business

UAE and France aim to team up to meet energy challenges

The UAE and France held discussions on energy challenges and opportunities for collaboration in order to maximize energy system efficiency...
  • The discussion took place between Awaidha Al Marar, Chairman of the Abu Dhabi Department of Energy, and Xavier Chattel, Ambassador of France
  • Al Marar and Chattel underlined the importance of leveraging partnerships, Research & Development, and policymaking capabilities
Economy

Saudi sukuk issuance in 2021 reaches $36.9 billion: S&P Ratings

Saudi companies and government raised $36.9 billion sukuk in 2021, compared to $27 billion in 2020, an increase of 37...
  • In 2021, the global sukuk issuance reached $147.4 billion compared with $148.4 billion in 2020.
  • Foreign-currency denominated sukuk issuance increased by 10 percent; jumbo issuances in Saudi have contributed to this increase.
Business

Protests erupt in Lebanon against harsh economic policies

A group of engineers in Lebanon held a sit-in protest outside the Central Bank branch in Sidon, in conjunction with...
  • The headline of the protest was, “Until rights are restored” & “For the right to hospitalization and a decent retirement
  • They deemed that “the banks are seizing the funds and savings of engineers and depositors in general, and imposing controls
Business

Fitness Time posts $54.9m net profit

The operator of the largest Saudi gym chain also sees growth in revenues.
  • This was buoyed by a growth in revenues of SR223 million, a SR9.75 million decrease in the cost of revenue, and a fall in other costs by SR32.3 million
  • The income from personal training was up SR20.5 million and rental income surged due to new rental contracts during the year.
Business

Saudi sovereign wealth fund PIF has $1.2 bn stakes in two Japan gaming firms

RIYADH: Saudi Arabia’s biggest sovereign wealth fund, Public Investment Fund, has stakes of more than 5 percent in two Japan-listed...
  • The PIF has stake of more than 5 percent in Capcom Co., the maker of the Street Fighter and Resident Evil franchises, and online games provider Nexon Co.
  • PIF’s stake in Capcom is worth about $332 million based on Friday’s share price, according to Bloomberg.
Science

IAEA unveils new plan to bolster cancer care

The International Atomic Energy Agency (IAEA) has launched a plan to tackle a chronic shortage of cancer care capacity in...
  • The total number of cancer deaths worldwide is forecast to rise by 60 percent in the coming two decades, to 16 million people every year
  • Rays of Hope builds on the IAEA’s six decades of experience and expertise in nuclear science to diagnose and treat different types of tumors
Business

Saudi Arabia’s Nomu to see two listings

Gas Arabian Services and Obeikan Glass will make debut on the parallel market.
  • Gas Arabian Services, having been run by the family for 30 years, aims to spend an average of 2 years on Nomu before moving to the main market
  • Riyadh-based Obeikan Glass was founded in 2007 and specializes in glass manufacturing and retail
Business

3,000 new rooms added to Egypt’s total hotel capacity, says tourism ministry

Egypt has added 3,000 new hotel rooms to its total hotel capacity with the opening of 19 new hotel facilities,...
  • Construction of 19 new hotel facilities in several governorates has led to the creation of these rooms.
  • According to tourism ministry officials, the new facilities have created 2,500 job opportunities.

FGCC Chambers to hold GCC-Egyptian Business Forum in Saudi Arabia

AL-KHOBAR, SAUDI ARABIA - The Federation of Egyptian Chambers of Commerce (FEDCOC) is scheduled to host the first Gulf-Egyptian Business...
Business

Company News

Latest News

UAE-US partnership to spur $100 bn clean-energy financing, development

The Partnership for Accelerating Clean Energy will see the two countries develop, finance and deploy clean projects in the US,...
Economy

ADEX signs line-of-credit pact with National Bank of Iraq

The Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a US$10...
Business

Saudi Arabia issues permits for projects worth US$1.1bn

Riyadh, Saudi Arabia—Saudi Arabia has issued permits for non-oil industrial projects worth $1.1 billion in August. The licenses issued in...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Saudi Aramco, IBM partner to establish Innovation Hub in Kingdom

The partnership will support tech-driven economic growth in the Kingdom by promoting cutting-edge emerging technologies.
  • The partnership will support tech-driven economic growth in the Kingdom by promoting cutting-edge emerging technologies
  • New York-based IBM has worked with the energy industry since 1947, when the first computer was installed in Aramco
Business

du revenues vault 10.5%

It posted $863.17m in revenues for the first nine months of 2022.
  • Mobile service revenues continued their recovery increasing by 10.7% to $393 million while equipment sales generated revenues of $48 million
  • Fixed services revenues soared 22.2% to $243 million, buoyed by the continued strong performance of the consumer segment
Economy

World economy projected to more than double in size by 2045: OPEC

The global primary energy demand is forecast to continue growing in the medium and long-term, increasing by a significant 23%...
  • The global primary energy demand is forecast to continue growing in the medium and long-term, increasing by a significant 23% in the next 23 years
  • Globally, oil demand is projected to increase from almost 97 million barrels a day (mb/d) in 2021 to around 110 mb/d in 2045