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

Ducab, Somagec ink MoU

The MoU will enable UAE-based firm to enter Angolan market.

Business

NMDC, AD Ports Group ink MoU

The firms will continue to work closely on future global projects.

Business
Business

S&P warns of fewer sukuk issues during 2022

Sukuk issuance volumes will not grow significantly in 2022 as global interest rates rise and funding needs for Gulf economies...
  • Central bank interest rates tend to respond to moves from the US Federal Reserve, particularly those in the Gulf where currencies are pegged to the dollar
  • While sukuk issuance is likely to be subdued this year, the market is likely to grow in the long run
Business

Emirates partners with the Bahamas to boost tourism

Emirates has signed a partnership agreement with the Bahamas to explore joint initiatives to bring more tourism to the island...
  • The Bahamas is one of the most sought-after tourism destinations in the Caribbean offering a rich mix of leisure and cultural activities for visitors
  • the airline is also making available to customers and its travel retail partners across its markets, a range of travel packages including hotels and flights to The Bahamas
Business

Investors’ forum discusses privatization scene in Saudi Arabia

Several investment companies and investors interested in privatization projects attended an investor forum organized by Saudi Arabia’s National Center for...
  • The forum was organized by the National Center for Privatization in cooperation with Riyadh Bank.
  • A series of opportunities are expected to be presented in the coming years, the Center said.
Business

Sharjah Islamic Bank’s net profit up 27%

The bank also reported AED850.7 million in operating profits, an increase by 21.9 percent, compared to AED697.7 million in the...
  • The bank also reported AED850.7 million in operating profits, an increase by 21.9 percent, compared to AED697.7 million in the previous year
  • The statement of financial position of the bank showed an increase in total assets by 2.5 percent to reach AED 55.0 billion as of 31 December 2021
Geostrategy

UAE, Turkey to ink new agreements during Erdogan’s visit: official

The UAE and Turkey are expected to sign new agreements and "renew previous commitments" during the upcoming visit of the...
  • In the first ten months of 2021, bilateral trade between the two countries reached US$6.4 billion
  • The UAE is also an important investor in Turkey and ranks second among the GCC countries
Economy

Jordan to supply Lebanon with electricity: Energy minister

Under the agreement, Lebanon will be provided with about 150 megawatts of electricity from midnight to 6 am, and 250...
  • Under the agreement, Lebanon will be provided with about 150 megawatts of electricity from midnight to 6 am, and 250 megawatts during the remaining hours
  • The project will benefit the Jordanian electrical system as Lebanon will be supplied directly from the Kingdom's power transmission networks
Geostrategy

ILO selects Qatar as member of fair recruitment panel

Qatar is one of the five countries the ILO has as a member of the Advisory Committee of its Fair...
  • The selection of Qatar as a member of the committee reflected its progress in promoting fair employment, said official sources
  • It also demonstrated Qatar’s commitment to labor migration and fair recruitment through a human rights-based approach, they added
Business

UAE Space Agency plans Space Economic Zone at Masdar City

The aim of the venture is said to be to create an integrated business ecosystem to propel startups and SMEs.
  • The Space Economic Zone in Masdar City is expected to encourage the development of the national space industry
  • The economic zone will apparently do that by offering world-class infrastructure and an enabling environment
Science

Sharjah University, AUS to launch research for sustainable energy solutions

The Sharjah Research, Technology, and Innovation Park (SRTI Park) revealed an ambitious plan to be executed in cooperation with the...
  • A proposed solution is to convert the generated hydrogen into fuels and chemicals for easier transportation.
  • AUS scientists are researching the production and use of various hydrogen-carrying molecules in industry.
Geostrategy

Lebanon judges to visit Paris over central bank chief probe

A Lebanese judicial delegation will meet French authorities in Paris next week to discuss investigations into Lebanon's central bank governor...
  • Central bank governor Riad Salameh is among the top Lebanese officials widely blamed for the country's unprecedented financial crisis.
  • He is the target of a series of judicial investigations in Lebanon, Switzerland and France on suspicion of fraud, money laundering.

Ducab, Somagec ink MoU

The MoU will enable UAE-based firm to enter Angolan market.
Business

Company News

Latest News

Saudi culture ministry provides training in UNESCO program

Under its recently announced Experts Program, the Saudi Ministry of Culture has provided an intensive leadership training course for Man...
Arts & Culture

Borouge Q3 profit $308m, paid $325m dividend in October

The company reported a 13.5% increase in revenue to $5.13 billion for 9M.
Business

Ma’aden among top 3 buyers of carbon credits

Saudi Arabian Mining Company (Ma’aden) is one of the largest purchasers of carbon credits from the first MENA Voluntary Carbon...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Multiply Group reports $2bn in net profit for Q3 2022

The Group's Q3 2022 figures showed revenue of $29 million and gross margin of $38 million.
  • The Group's Q3 2022 figures showed revenue of $29 million and gross margin of $38 million
  • The quarter saw continued sustainable growth across the Group's subsidiaries which grew by 67% in revenue and profitability
Economy

Egyptian pound plummets after 2% interest rate hike

The CBE attributed its decision to elevated global and domestic prices that are expected to keep headline inflation.
  • The CBE attributed its decision to elevated global and domestic prices that are expected to keep headline inflation
  • The decision aims to uphold the CBE’s mandate of ensuring price stability in the local market over the medium term
Business

Emerging sectors are creating thousands of new jobs in the Kingdom, says Saudi Economy Minister

Saudi Arabia is focused on offering solutions that make global trade more predictable and reliable, says Faisal bin Fadhil Alibrahim...
  • Saudi Arabia is focused on offering solutions that make global trade more predictable and reliable, says Faisal bin Fadhil Alibrahim at an event in Riyadh.
  • The Future Investment Initiative, held under the theme "Investing in Humanity: Enabling a New Global Order", concluded in Riyadh late Thursday