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

NMDC, AD Ports Group ink MoU

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

Business

Arab Bank posts net profit

It posted a profit of $630 million in January-September 2023.

Business
Geostrategy

Reports saying Lebanon president ordered bank raids baseless: Press Office

The Lebanon Presidency Press Office denied the information broadcasted by Al-Jadeed TV on Sunday evening, which claimed that the President...
  • The President's Press Office said this news is fabricated and baseless.
  • The Press Office also denied reports about a meeting held at Baabda Palace.
Business

Arada enters Dubai market

Full details will be revealed at the sales launch, scheduled to take place in the third quarter of 2022.
  • Design work on Arada’s mixed-use project on Palm Jumeirah has begun and will contain residential, leisure and F&B components
  • Arada’s projects include Aljada, Sharjah’s largest ever mixed-use megaproject where 5,000 units are currently under construction
Business

Jordan’s ISSF to invest $1.5 million in Dubai-based Global Ventures

The Innovative Startups and SMEs Fund (ISSF) will invest $1.5 million in Global Ventures
  • Global Ventures is a Dubai-based growth-driven venture capital firm focused on investing in growth-stage technology.
  • Investing in progressive funds such as Global Ventures supports ambitious SMEs to expand their businesses, ISSF said.
Science

Malaria No More and CPC of Abu Dhabi to fight the disease

Malaria No More has announced the launch of a new global institute with the mission to combat malaria in the...
  • It has partnered with the Crown Prince Court of Abu Dhabi (CPC) and the Reaching the Last Mile program to achieve its objective
  • The announcement was made at the summit event of Abu Dhabi Sustainability Week, during a session focused on climate change
Business

Assets of Jordan’s Social Security Investment Fund rise by JD1.1 bn in 2021

The assets of Jordan's Social Security Investment Fund (SSIF), the investment arm of the Social Security Corporation (SSC), jumped by...
  • The fund’s overall returns on investment (ROI) amounted to JD575 million in 2021 against JD509 million in 2020.
  • Bonds account for 57 percent of the SSIF’s investment portfolio, followed by stocks 16.6 percent.
Geostrategy

UAE and UN commit to achieve Sustainable Development Goals

The UAE and the UN have committed to further enhance collective international action to achieve the UN Sustainable Development Goals.
  • The resolve was expressed in a meeting between Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs, and Amina Mohammed, Deputy Secretary-General of the UN
  • The two sides also reviewed Expo 2020 Dubai's hosting of the Global Goals Week in cooperation with the UN
Business

She overcame prejudice to ride sea waves

Sahar Al Rasti, the first Emirati female ship captain, said that working behind the rudders of ships for long days,...
  • Her journey began in 2015 while working in the ports of Abu Dhabi as an administrative assistant
  • The captain explained that she is very passionate about her job and craves to learn new things like discovering the secrets of maritime navigation
Business

TAQA Group, EWEC price green bond

The bonds were 1.8 times oversubscribed.
  • The bonds, one of TAQA’s first forays into green financing, will refinance existing debt facilities of SPPC.
  • TAQA is one of the largest listed integrated utility companies in the Europe, the Middle East and Africa.
Business

Empower begins to operate a new cooling plant in Dubai

Emirates Central Cooling Systems Corporation (Empower) has started operating the first phase of its new District Cooling plant in Za’abeel,...
  • The total cooling capacity of the plant will be 50,000 RT upon completion
  • It will be interconnected with the company’s existing district cooling plant in Dubai International Financial Centre (DIFC) to deliver total cooling energy of 112,000 RT
Business

HP, UAE sign education MoU

MoU aimed at enhancing cyber skills training in UAE schools.
  • HP and the Cyber Security Council will launch various initiatives nationwide and expect to work with more than 500 students a year.
  • The partnership with the Cyber Security Council has three separate elements that support schoolchildren, university students, and graduates.

NMDC, AD Ports Group ink MoU

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

Company News

Latest News

Dubai real estate market records deals worth $462 million on Tuesday: DLD

Dubai, UAE--- Dubai real estate market recorded real estate transactions worth AED1.7 billion ($462 million) on Tuesday, Dubai Land Department...
Business

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
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

CMA approves 18 listings on Tadawul

Tadawul is also developing a market marker for the bourse.
  • According to Mohammed al-Rumaih, CEO of Tadawul, the Capital Market Authority has approved 18 listings through 2022
  • The number surpasses the 2021 figure, which saw 21 listings, as well as the number witnessed in 2020, when the market recorded only eight listings
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