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.

Archer to launch its all-electric air taxi service across UAE

ABU DHABI, UAE - Archer Aviation on Tuesday announced that it has entered into an agreement with Abu Dhabi Investment...

Business

Saudi business sector’s operating revenues at US$1.36trn in 2022, says GASTAT

RIYADH, SAUDI ARABIA - The business sector in the Kingdom reported a 24 percent rise year-on-year (YoY) in operating revenues...

Business
Business

India aims at boosting honey exports to UAE, Saudi Arabia

India started its honey exports only in the fiscal year 1996-97, and is the world’s eighth-largest honey producer and ranks...
  • India started its honey exports only in the fiscal year 1996-97, and is the world’s eighth-largest honey producer and ranks ninth among the honey exporting countries globally.
  • The markets of Indian honey where APEDA is planning to boost its export includes the UAE, Saudi Arabia, Bangladesh and Canada.
Business

EDB and AD Ports team up to support industrial sector in UAE

Emirates Development Bank (EDB) has signed an MoU with Industrial Cities and Free Zone Cluster of AD Ports Group to...
  • The financial solutions can be utilized to build new facilities, purchasing, or leasing existing facilities as well as acquiring, upgrading, and maintaining the units’ assets
  • The MoU aligns with EDB’s continuous efforts to enable the industrial transformation and economic diversification agenda in the UAE
Economy

Ajman’s $656m budget for 2022 focused on infrastructure, community facilities

Ajman's budget of AED2.41 billion ($656m) for 2022 has been approved by the emirate's ruler Sheikh Humaid bin Rashid Al...
  • Economic affairs (34 percent), public services (19 percent) and public order and safety (eight percent) are the other sectors that account for the rest of the budget.
  • The 2022 budget is the largest in the emirate’s history, and 17 percent higher than last year’s budget.
Business

FAHR issues circular for flexible remote working on Fridays

The Federal Authority for Government Human Resources (FAHR) yesterday issued a circular to all ministries and federal entities regarding flexible...
  • The step is being taken to ensure continuity of service provision and the federal government’s proper functioning during the implementation of the remote working system
  • The circular is based on the new system of weekly work in the federal government sector, which started at the beginning of this year
Geostrategy

Masdar and Manchester City to launch climate awareness campaign

Renewable energy company Masdar will become an official partner of Manchester City under an agreement that will see them collaborate...
  • The campaign will coincide with the Masdar-hosted Abu Dhabi Sustainability Week from 15–19 January 2022.
  • Masdar has a presence in almost 40 countries worldwide and plans to expand its global clean energy portfolio to more than 50 gigawatts by 2030.
Business

Dana Gas’s 2021 collections spike 107% to $377 million

Dana Gas has announced that its collections from the KRI and Egypt rose 107% year-on-year in 2021 to $377 million...
  • In Egypt, Dana Gas collected $193 million during 2021, compared to $80 million in 2020, a 141% year-on-year jump
  • The payments from the government of Egypt have reduced the Company’s receivables from the North African state to under $20 million
Business

Dubai records $81 billion worth of real estate transactions in 2021

Dubai's real estate market recorded 84,772 transactions representing a value of AED300 billion ($81 billion) in 2021, according to the...
  • There was a 65 percent growth in the number of transactions and a 71 percent increase in value compared to 2020.
  • A total of 52,415 investors concluded 72,207 new investments in 2021 worth AED148 billion, a growth of 73.7 percent.
Geostrategy

GCC, Pakistan finalize action plan for strategic dialogue

The action plan was finalised during a delegation-level meeting between Pakistan Foreign Minister Shah Mahmood Qureshi and GCC Secretary General...
  • The action plan was finalised during a delegation-level meeting between Pakistan Foreign Minister Shah Mahmood Qureshi and GCC Secretary General Dr Nayef Falah M. Al-Hajraf
  • The plan proposes an institutional approach to deepen cooperation in various fields, such as political, security, trade and investment, agriculture, food security etc
Geostrategy

United States attacks Iranian militia sites in Syria

The possible reason for the strikes is that Iranian militias may have been planning an attack on US forces to...
  • The possible reason for the strikes is that Iranian militias may have been planning an attack on US forces to coincide with the anniversary of the US assassination of Soleimani
  • US defense officials did not confirm that the country directly participated in the strikes, but that it was capable of destroying such targets in the area
Economy

Iraq acquires ExxonMobil share

The share was bought by Iraqi national oil company.
  • The share was bought by Iraqi national oil company in the West Qurna field
  • The field is one of the giant fields, the Iraqi oil ministry statement said

Archer to launch its all-electric air taxi service across UAE

ABU DHABI, UAE - Archer Aviation on Tuesday announced that it has entered into an agreement with Abu Dhabi Investment...
Business

Company News

Latest News

CARACAL signs ‘Make in India’ partnership with ICOMM

The agreement was signed during DEFEXPO 2022, the Land, Naval and Homeland Security Systems Exhibition, which is being held in...
Geostrategy

EasyLease net profit $8.91m

The total revenue in Q3 ended Sept reached AED156.11 million
Business

DXB to welcome 2.1m passengers over 10-day school holiday break

October 30 is expected to be the busiest day with daily traffic exceeding 259,000 passengers.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

SABB nine-month net profit $926m

The net profit for the same period last year was $738m.
  • The bank said the total operating profit grew 19 percent to SAR 6,966 million and net special commission income grew 19 percent to SAR 5,117 million.
  • SABB’s shareholders’ equity remained stable at SAR 53 billion with total assets of SAR 300 billion, said Lubna Olayan, Chair of the Board of Directors SABB.
Economy

Dubai to host 3 healthcare events next week

The United Arab Emirates is set to host three healthcare events next week in Dubai where over 4,000 healthcare professionals...
  • Over 4,000 healthcare professionals and participants are expected to attend.
  • Around 140 expert speakers will deliver 110 scientific sessions and over 40 participating countries will also be present.
Business

Aramco launches Taleed program to accelerate SMEs growth in Saudi

Riyadh, Saudi Arabia--Aramco said on Thursday it has launched Taleed program to accelerate the growth of Small and Medium Enterprises...
  • Aramco said the program targets sustainable SME growth across multiple sectors through a portfolio of 20 initiatives.
  • It also aims to deliver funding and financial solutions to existing and new businesses through five funds, with a combined capital exceeding $800 million.