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.

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...

Business

Total of 52 MoUs signed in Saudi-Korean Investment Forum

RIYADH, SAUDI ARABIA – A total of 52 memorandums of understanding (MoUs) were signed at the Saudi-Korean Investment Forum here....

Business
Science

EU overachieves 2020 renewable energy target

With more than half of gross final energy consumption from renewable sources, Sweden had by far the highest share among...
  • With more than half of gross final energy consumption from renewable sources, Sweden had by far the highest share among the EU Member States in 2020
  • The Member States that significantly exceeded their 2020 targets were Sweden, Croatia and Bulgaria
Business

Tadweer inks deals worth $64m

The deals were signed at the eighth edition of EcoWASTE.
  • EcoWASTE 2022, where the deals were signed, was held at Abu Dhabi National Exhibition Centre
  • It was organized as part of Abu Dhabi Sustainability Week in strategic partnership with Tadweer
Economy

Kuwait, Saudi Arabia should develop trade, investment cooperation: KCCI

Chairman of Kuwait Chamber of Commerce and Industry (KCCI) Mohammad Al-Saqer called for more bilateral efforts to achieve the desired...
  • Chairman of Kuwait Chamber of Commerce and Industry (KCCI) Mohammad Al-Saqer called for more bilateral efforts to achieve the desired economic goals
  • On ongoing economic and political developments in the Kingdom, Al-Saqer noted that the Kingdom is an ideal example to follow
Business

GCC chief stresses importance of serving requirements of joint market

GCC Secretary-General Naif Falah Al-Hajraf with the chairman of the Board of Directors of the FGCCC, Samir Abdullah Nas.
  • The GCC chief has stressed the importance of building a distinctive integrative trade and investment base
  • The base is expected to complete the requirements of the GCC joint market and develop GCC inter-trade relations
Science

Global vaccine program COVAX seeks $5.2b in funding

COVAX's initial goal was to deliver 2 billion doses by the end of 2021, but its lack of cash when...
  • COVAX's initial goal was to deliver 2 billion doses by the end of 2021, but its lack of cash when vaccine deals were made delayed its delivery
  • Nearly 1 billion doses of the United Nations-backed COVAX program have been delivered since the shipments began nearly a year ago
Business

DEWA says 35% of work completed on Hatta power plant

The project is also part of DEWA’s initiative to develop the area to meet its social, economic, and environmental needs.
  • The plant’s production capacity is set to reach 250 megawatts (MW) with a storage capacity of 1,500 megawatt-hours and a lifespan of up to 80 years
  • This is the first of its kind in the Gulf region, with investments of around AED1.421 billion ($0.39billion)
Geostrategy

Islamic Development Bank keen to cooperate for achieving SDGs

The Islamic Development Bank (IsDB) affirmed that it would work together with all Multilateral Development Banks, International Finance Institutes, and...
  • IsDB Group actively pursues counter-cyclical financing to its 57 member countries when they need it most, said its President Muhammad Al Jasser.
  • To boost the economy and recovery of the member countries, the Bank has approved development programs and projects amounting to $1.6 billion.
Business

REIT signs $200m financing commitment with FAB

Masdar Green Real Estate Investment Trust (REIT) has signed a financing commitment to the tune of $200 million with First...
  • The announcement was made during an official signing ceremony held at the 4th Abu Dhabi Sustainable Finance Forum during Abu Dhabi Sustainability Week
  • In 2018, Masdar signed the first green revolving credit facility in the Middle East, helping to support its investments in global clean technology
Geostrategy

US agency designates three Hezbollah-linked financial facilitators

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated three Hezbollah-linked financial facilitators and their Lebanon-based...
  • This action comes at a time in which the Lebanese economy faces an unprecedented economic crisis.
  • OFAC designated Adel Diab, Ali Mohamad Daoun, Jihad Salem Alame, and their company, Dar Al Salam for Travel & Tourism.
Science

SEHA of Abu Dhabi kicks off cervical cancer awareness drive

Abu Dhabi Health Services Company (SEHA) has launched an awareness campaign about cervical cancer and the importance of vaccination and...
  • Cervical cancer is the second most common type of cancer and a leading cause of death among women in the UAE
  • Almost all cervical cancers are caused by the human papilloma virus (HPV) that spreads through sexual intercourse

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...
Business

Company News

Latest News

First Abu Dhabi Bank Group net profit for nine months of 2022 $2.96 billion

The bank said impairment charges were AED1.7 billion, 11 percent lower YOY.
Business

Aramco chief at FII6: World needs realistic, optimal energy transition plan

"The current transition plan isn't working. We are still dependent on coal. We need to have a new consensus on...
Geostrategy

Early preparations put GCC in better place to face tough economic conditions: Saudi finance minister

Saudi Arabia has prepared for years for the conditions that the world is witnessing, which enabled it to be in...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Inditex sells Russian business to Middle Eastern Daher Group

Inditex closed its over 500 stores in Russia in March.
  • Following Moscow's invasion of Ukraine on February 24 and Western sanctions, Inditex closed its over 500 stores in Russia in March
  • The UAE and a number of other Gulf and Asian countries are regarded by the Kremlin as friendly states, and their companies are encouraged to conduct business in Russia
Business

Mashreq posts net profit of US$708m

The embrace of digital services by it customers drove growth.
  • Its operating income has increased by 24.3 percent over the previous year to $1.44 billion
  • The operating profit at $871 million represents a 33.2 percent increase compared to the same period of 2021
Economy

‘World Cup is crucial — both economically and culturally — and Qatar is ready to prove itself’

Qatar is currently more like a workshop of preparation and equipping, in which Qataris and residents have engaged. Brotherly and...
  • Qatar's GDP during the first half of this year increased by 4.3%, supported by a 7.3% growth rate of the non-oil sector
  • The hike in energy prices turned a projected budget deficit at the beginning of the year into a surplus of about QAR 47.3bn in H1