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.

SFD to provide US$20m loan to Central African Republic for development projects

MARRAKESH, MOROCCO - The CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, signed an additional US$20...

Business

IMF forecasts UAE GDP growth of 3.4% in 2023

MARRAKESH, MOROCCO - The International Monetary Fund (IMF) has forecast that the UAE's real Gross Domestic Product (GDP) will grow by...

Economy
Business

MAWANI and SCCA sign MoU

Both will create an environment for the settlement of disputes.
  • The two sides agreed upon developing the skills of authority staff and those concerned with the maritime transport and ports sector.
  • The pact also contributes to SCCA's endeavor to develop national ADR capacities by providing ADR services.
Business

Top Saudi Arabian companies pay stable to higher dividends in 2021

Saudi Arabia's 10 biggest companies witnessed the recovery of dividends paid out to investors in 2021, as the economy began...
  • Energy giant Aramco, with over SR7 trillion in market value, paid each shareholder SR1.05 per share for the first nine months of 2021, nearly the same as in 2020.
  • The eighth biggest listed firm in the Kingdom, SABIC Agri-Nutrients, yielded 2.5 percent on a stock price of SR172, and offered its highest dividend policy since 2015 this year.
Business

Alpha Dhabi Holding raises stake in Aldar Properties to 30%

Alpha Dhabi Holding (ADH) has announced the acquisition of an additional 17 percent shareholding of Aldar Properties. The acquisition will...
  • The acquisition is in line with Alpha Dhabi Holding's recently announced expansion plan and future strategy
  • Early this year, Alpha Dhabi Holding acquired a 12.8 percent strategic stake in Aldar Properties
Economy

Iran, Russia, Azerbaijan to connect power networks in May

Mohammad Ali Farahnakian, advisor to Iran's energy minister for international affairs, told IRNA on Sunday that given a contract among...
  • Farahnakian noted that the energy corridor in northern Iran will bring profits and reduce the need to invest in the electricity sector of the Islamic Republic
  • There are two potential corridors for energy sharing, including the Russia-Azerbaijan-Iran corridor and Armenia-Georgia-Russia, Farahnakian added
Business

Jordan defers Covid-19-hit restaurants’ repayments till mid-2022

Issam Fakhreddin, the head of Jordan Restaurants Association called on tourist restaurants to submit a written request and a document...
  • Issam Fakhreddin, the head of Jordan Restaurants Association called on tourist restaurants to submit a written request and a document of inability to repay.
  • He also commended the government’s financial assistance packages, which had mitigated the Covid-19 pandemic-conduced repercussions on Jordan's restaurant sector
Business

Suez Canal revenues hit all-time high of $6.3bn in 2021

The revenues rose by $720 million, or 12.8 percent, in 2021 compared to 2020 when they were $5.6 billion.
  • A total of 20,649 vessels flowed through the canal last year, an increase of 10 percent compared to 18,830 vessels in 2020
  • The total net load through the canal in 2021 was 1.27 billion tons, against 1.17 billion tons in 2020: a difference of 8.5 percent
Expo 2020 DUBAI

World leaders, dignitaries hail UAE for Dubai Expo 2020

Several world leaders and  dignitaries who attended the Dubai Expo 2020 have hailed the mega event as "a beacon for...
  • The Expo will host the first Global Goals Week to be held outside of the United Nations in New York from 15-22 January.
  • It will be the seventh Theme Week held under Expo’s flagship Program for People and Planet, helping to drive positive action.
Geostrategy

UAE bans travel for unvaccinated citizens from Jan 10

Travel is permitted for non-vaccinated citizens, if the cases include medical exemption from taking the vaccine, humanitarian cases, and individuals...
  • The announcement follows the UAE’s vision in the recovery phase of the pandemic and enhancing national efforts in all sectors
  • This is being done to ensure that health and safety are prioritized by the leadership and the country's proactive efforts to confront COVID-19
Business

On 40th anniversary, Abu Dhabi Airport vows improved services

Abu Dhabi Airports marked the 40th anniversary of the inauguration of Abu Dhabi International Airport (AUH) on Sunday, local media...
  • The Airport was inaugurated on 2nd January 1982, with Etihad becoming the national carrier and the home airline in 2003.
  • AUH launched the Smart Travel System in 2016, the first of its kind in the region, to ease passenger processing and experience.
Science

World’s first ‘wooden’ satellite set for launch in 2023

A team of developers from Kyoto University and Sumitomo Forestry Co said satellite that uses wood is cheaper than the...
  • The development of the satellite is aimed at harnessing the the environmental friendliness and low cost of wood in space development.
  • Its outside will be covered in wood and solar cells, and it will hold an electronic substrate inside.

SFD to provide US$20m loan to Central African Republic for development projects

MARRAKESH, MOROCCO - The CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, signed an additional US$20...
Business

Company News

Latest News

ENOC opens new station in Al Hamriya Port

This would be the eighth marine service station in the emirate.
Business

Saudi crown prince unveils National Industrial Strategy

The strategy aims to diversify the kingdom's economy and increase GDP and non-oil exports by promoting industry and attracting investment.
Economy

Mubadala acquires stake in Skyborn

Skyborn Renewables is the world’s largest private offshore wind developer.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Aramex acquires eCommerce enabler MyUS

The acquisition integrates MyUS into Aramex’s business.
  • The acquisition paves the way for MyUS’s integration into Aramex’s business, operating as a business unit within the Company’s Courier business segment
  • MyUS will retain its brand name and will be complementary to Shop & Ship, Aramex’s subscription based last mile e-Commerce solutions platform
Business

Sipchem posts jump in profit

It recorded a 37% increase in net profit to $800m.
  • The company said in a bourse filing that it had recorded a profit of $533 million for the same period a year earlier
  • Yet the petrochemical maker's stock declined 1.42 percent to touch $11 at the close of Tuesday
Economy

UAE gross banks’ assets up 0.9% to over $1tn by Aug end

The Money Supply aggregate M2 increased by 1.4 percent from $437 billion at July end to $443 billion at the...
  • The Money Supply aggregate M2 increased by 1.4 percent from $437 billion at July end to $443 billion at the end of August
  • The Money Supply aggregate M3 also rose by 2.4 percent from $535 billion at July end to $549 billion at August end