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

Iran, Russia to invest $38bn in developing INSTC

TEHRAN, IRAN – The Iranian head of Solyanka Port in Russia said that the International North-South Transport Corridor (INSTC) is a...

Geostrategy

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
Business

Qatar Tourism eases process to issue holiday home licenses

Qatar Tourism has invited residential property owners to invest in hospitality while generating extra income from their unused units by...
  • Qatar Tourism has introduced a helpline and a simplified process to get licenses issued within a week
  • Property owners renting to vacationers without licenses would be jailed for two years or/and fined QAR200,000
Business

Panel to enhance performance of Federation of GCC Chambers

The meeting was held via video conference technology, with spread of the Omicron variant of Covid-19 having stopped almost all...
  • Qatar Chamber Chairman Sheikh Khalifa bin Jassim Al-Thani presided over the meeting
  • It reportedly discussed the estimated budget of the federation for the current year
Economy

Free Trade Agreement with UAE nearing conclusion, says Indian minister

India’s Minister of Commerce and Industry, Piyush Goyal, on Wednesday told the heads of top business and industry associations in...
  • Piyush Goyal urged industry leaders to be proactive in giving inputs to the government on matters like FTA negotiations
  • He expressed confidence of growth in services exports, in spite of travel and tourism restrictions caused by the pandemic
Business

UAE, European Union discuss ways to boost cooperation

The meeting was hosted at the UAE Ministry of Finance’s headquarters in Abu Dhabi.
  • The Minister of State for Financial Affairs Mohamed Hadi Al Hussaini met on Tuesday with Johannes Hahn, European Commissioner for Budget and Administration
  • This discussion is a part of the UAE’s Finance Ministry efforts to strengthen its relations with various countries and regional and international financial institutions.
Arts & Culture

Al Dhafra Festival kicks off in Abu Dhabi

The festival is organized by the Cultural Program and Heritage Festivals Committee, and will run till January 22.
  • The festival features 313 camel runs and this new edition of the event includes the launch of the Bairaq Al Emarat Award for Asayel and Majahim camel breeds
  • Coinciding with the UAE’ Golden Jubilee Celebrations, the Festival's activities now run from 28th October, 2021, to 22nd January, 2022
Economy

Morocco’s GDP expected to grow by 3.2 percent in 2022: World Bank

The World Bank’s Global Economic Prospect reported on Tuesday that Morocco’s GDP is expected to grow by 3.2 percent in...
  • Output in 2023 is projected to remain about 5 percent smaller than expected before the pandemic, the World Bank notes.
  • The agricultural output returns to historical averages after the extraordinary performance of the primary sector in 2021, a WB report said.
Business

UAE, European Union discuss ways to boost bilateral cooperation

The UAE and the European Union discussed ways of boosting bilateral cooperation between them to achieve mutual benefit across various...
  • The Minister of State for Financial Affairs Mohamed Hadi Al Hussaini met on Tuesday with Johannes Hahn, European Commissioner for Budget and Administration.
  • This discussion is a part of the UAE’s Finance Ministry efforts to strengthen its relations with various countries and regional and international financial institutions.
Business

Dana Gas, Crescent Petroleum report record sales gas production

Dana Gas and its partner Crescent Petroleum have reported record sales gas production from their operations in the Kurdistan Region...
  • Dana Gas and Crescent Petroleum jointly operate the Khor Mor and Chemchemal gas fields on behalf of the Pearl Petroleum consortium.
  • The production milestone is the culmination of numerous process improvements at the Khor Mor gas plant, including a bypass project.
Business

Saudi Arabia and Tunisia sign energy agreement

The MoU encourages holding joint seminars and training courses on renewable energy, energy efficiency and conservation.
  • The MoU covers the fields of renewable energy, energy efficiency and conservation, and includes cooperation on management of renewable energy
  • The MoU aims at exchanging information and expertise between the two countries in these areas through related research and studies as well
Business

Saudi-Emirati Council meets to discuss economic ties

The UAE hosted a meeting of the Finance and Investment Committee of the Saudi-Emirati Coordination Council to discuss financial and...
  • From the UAE, Younis Haji Al Khoori, Under-Secretary of Ministry of Finance, chaired the meeting alongside senior officials from MoF
  • From Saudi Arabia, Abdulaziz Al Rasheed, Assistant Minister of Finance for International Financial Affairs and Macro-Fiscal Policies chaired the meeting

Iran, Russia to invest $38bn in developing INSTC

TEHRAN, IRAN – The Iranian head of Solyanka Port in Russia said that the International North-South Transport Corridor (INSTC) is a...
Geostrategy

Company News

Latest News

DEWA to pay one-time cash dividend

It received a dividend of $553m from its subsidiary, EMPOWER.
Business

Sharjah Islamic Bank’s profit rises 24%

Operating profit before provisions rose by 12%.
Business

UAE-UK partnership may unlock potential of clean hydrogen, boost economy, create 200,000 new jobs

The latest WGEO study is part of "our efforts to support the Dubai Clean Energy Strategy 2050 and the Dubai...
Analysis
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

ADCB Q3 net profit at US$432m

The diversification of revenue streams boosted the bank's profitability.
  • The bank reported a non-interest income of US$259 million (AED 952 million).
  • ADCB said its operating income surged by 21 percent to reach US$955 million (AED 3.510 billion).
Infographics

UAE, Saudi pension systems improve performance on 2022 Mercer CFA Index

The 2022 Mercer CFA Institute Global Pension Index compares 44 retirement income systems against more than 50 indicators and benchmarks.
  • The CFA Institute said the index highlights both the considerable diversity and the positive features present in many systems.
  • The study also confirms that no pension system is perfect and that every system has shortcomings.
Business

Empower to sell 10% stake, list on DFM

Empower will make 1 bn shares, each valued AED0.10, available in IPO.
  • The company said that all shares to be offered represent the sale of existing shares held in aggregate by DEWA and Emirates Power.
  • The subscription period will open on 31 October 2022 and is expected to close on 7 November 2022 for the UAE Retail Investors and on 8 November 2022 for Qualified Investors.