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

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

Mawani, SGP ink US$266m pact

The aim is to establish multiple logistics zones in the Kingdom.

Business
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
Business

Many firms to join Pure Health

ADQ signs pact to create UAE's biggest healthcare platform.
  • Under the pact, Abu Dhabi Health Services Company (SEHA) and The National Health Insurance Company PJSC (Daman) will merge into Pure Health.
  • Tamouh Healthcare, Yas Clinic Group and Abu Dhabi Stem Cell Centre will also join Pure Health, which already has a diversified services portfolio.
Economy

Iran supplies gas for domestic consumption despite challenges: Minister

The Oil Minister of Iran Javad Owji has said that his country has not faced the need to cut the...
  • Iran used around 600 million cubic meters, around 100 million cubic meters in power generator stations, or its equivalent in gas oil, said oil minister Javad Owji.
  • The country has not faced the need to cut the gas in any area despite decreased pressure problem, he said.
Business

Barter best payment method in Iran-Pakistan trade: Official

The Secretary-General of Iran-Pakistan Joint Chamber of Commerce Fahimeh Damroudi said that barter is the best choice of exchange as...
  • Iranian President Ebrahim Raisi has repeatedly underlined the importance of trade development with neighbors.
  • Iran's foreign trade reached $72.1 billion during the first nine months of the Iranian calendar year.
Business

Mumzworld CEO says committed to supporting Mideast businesswomen

Mumzworld has over 350 staff, with over 6,000 brands and more than 300,000 products for sale on the website, and...
  • Mumzworld was built in 2011 to support women in the Arab world and help them to make informed decisions for their families.
  • Ataya told that she would use her new role as a mentor, and sharing the knowledge, skills, and successes with other women.

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

Company News

Latest News

ADX records 16.9% surge in FADX 15 during first three quarters of 2022

The traded values (short and long trades) on the exchange reached $177 billion compared with $134 billion during the same...
Business

ACWA Power to start Oman project

It will build the $7bn project with Oman and a US firm.
Business

Saudi energy minister holds talks with counterparts in India

Prince Abdulaziz is also the Chairman of the Ministerial Committee for Economy and Investment in the Saudi-Indian Strategic Partnership Council.
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

NMDC records 40% profit jump

Its profit shot up to $191m in first nine months of 2022.
  • The Group’s revenue increased by 12.9 percent to $1.63 billion from January to the end of September 2022, compared to $1.46 billion in the same period last year
  • Its business continued to grow and expand , with significant progress made in major strategic projects such as the Hail and Ghasha field works
Business

Bayanat AI IPO tranche oversubscribed

The offering saw significant demand and commitment from IHC.
  • The subscription period ends on 25 October 2022 while the listing of shares and trading on ADX is anticipated on 31 October 2022.
  • Dubai Islamic Bank is the Lead Manager, and First Abu Dhabi Bank is acting as the Lead Receiving Bank. International Securities are the Lead Placement Agent on the IPO.
Business

Dubai records $2.17 billion in weekly real estate transactions

Dubai, UAE---A total of 2,703 real estate transactions worth AED8 billion ($2.17 billion) were conducted during the week ending 21...
  • A total of 147 plots were sold for AED1.12 billion, and 2,023 apartments and villas were purchased for AED4.79 billion.
  • The top transactions were a land Fourth sold for AED85 million in Al Thanayah, and another sold for AED63 million in Island 2.