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

Air Arabia launches non-stop flights between UAE’s Sharjah, Egypt’s Giza

SHARJAH/ ABU DHABI, UAE -  Air Arabia announced the launch of a new route operating between Sharjah and Giza city...

Business

Emirati investments in Turkey reach $5.6 billion in 2022

ABU DHABI, UAE – Ahmet Burak Daglioglu, Head of the Investment Office of the Turkish Presidency, said that the cumulative...

Business
Arts & Culture

Winners of King Faisal International Prize felicitated in Riyadh

The winners of King Faisal International Prize (KFIP) for the years 2020 and 2021 were honored at Prince Sultan Grand...
  • The Service to Islam prize for the year 2021 was awarded to Founder and Chairman of SAKHR Software Company, Mohamed bin Abdulrahman Al-Sharekh.
  • Mohammed Hashim Ghosheh was awarded the Islamic Studies prize for his topic called the Islamic Heritage of AlQuds in year 2020.
Economy

School of Government and ADGM Academy launch investment program

The Abu Dhabi School of Government (ADSG) and Abu Dhabi Global Market Academy (ADGM Academy) have launched the ‘Investment Foundations'...
  • The program aimed at equiping Abu Dhabi government employees with knowledge and skills related to finance, ethics, and investment practices.
  • Participants will receive a certification jointly accredited by the ADSG and Abu Dhabi Global Market Academy.
Business

Dana Gas receives $39 million payment from Egyptian government

Dana Gas has received a payment of $39 million (AED143 million) from the Egyptian Government in December, the company announced...
  • The payment reduced its receivables in Egypt below $30 million to its lowest levels since commencing operations there in 2007.
  • Dana Gas has invested over $2 billion since first entering Egypt in 2007 and is currently the fifth-largest gas producer in the country.
Geostrategy

Arab Parliament reiterates call for a free Palestinian nation

The Arab Parliament has praised the results of the trilateral summit which was held on September 2 in Cairo between...
  • The Parliament praised the outcomes of a trilateral meeting held in Cairo on September 2, 2021
  • Arab parliament has called global community and the Quartet of the Middle East to offer real support and assistance for Palestine and its people.
Geostrategy

US condemns Houthis’ attacks on Saudi, calls group a threat

The United States has condemned the Houthis' continuous attacks on the Kingdom of Saudi Arabia, stressing that the group is...
  • US State Department Spokesman Ned Price said that Saudi Arabia was able to eliminate about 90 percent of Houthi attacks.
  • Houthis launched a military projectile that hit a commercial store in the Samtah governorate in the southern Jazan region on 24 December.
Business

Saudi designates China’s NIPA as patent searching and examining authority

The Saudi Authority for Intellectual Property (SAIP) has designated the National Intellectual Property Administration of China (CNIPA) as International Searching...
  • The move allows international patent applicants in the kingdom to select CNIPA to issue international search reports for their applications.
  • Saudi authorities see the development as an enhancement of cooperation between the two sides in the field of intellectual property.
Geostrategy

Saudi Fund invests in education, road projects in Lanka

The Saudi Fund for Development is investing USD60 million to develop the infrastructure of the transport sector to reduce death...
  • The Saudi Fund for Development is investing USD60 million to develop the infrastructure of the transport sector to reduce death and injury rates resulting from traffic accidents
  • The Fund will also invest USD28 million to support education opportunities for more than 5,000 students each year and increase the quality of education
Business

Multiply to invest in Getty Images

The deal is expected to close in the first half of 2022.
  • The deal is expected to close in the first half of 2022, after which a newly formed parent company of Getty Images is expected to be listed on the NYSE
  • The merger, which was announced in early December, involves a total equity investment of $1.3 billion, valuing Getty Images at US$4.8 billion, including debt
Geostrategy

Kuwait forms new Sheikh Sabah-led govt

Prime Minister Sheikh Sabah Al Khaled Al Hamad Al Sabah’s new cabinet represents Kuwait’s fourth government over the last year...
  • The new government announcement came after an Emiri order assigning Sheikh Sabah Al-Khaled as Prime Minister on November 23
  • The cabinet has a new finance minister and includes three opposition legislators following a standoff between previous govts and parliament.
Business

Dubai Chamber to start four-and-a-half day working week from Jan 2022

Dubai Chamber has announced that it will shift to a four-and-a-half day working week  from 3 January 2022. This is...
  • The new working week is in line with the newly approved workweek for UAE federal government employees.
  • The official working hours will be nine working hours per day Monday-Thursday, from 8am to 5pm, and four working hours on Friday, from 8am to 12pm.

Air Arabia launches non-stop flights between UAE’s Sharjah, Egypt’s Giza

SHARJAH/ ABU DHABI, UAE -  Air Arabia announced the launch of a new route operating between Sharjah and Giza city...
Business

Company News

Latest News

Saudi Center for Debt Management invites investors for bond repurchase

Riyadh, Saudi Arabia---Saudi Arabia’s National Center for Debt Management announced Wednesday that it has invited investors for the first partial...
Business

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

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Business

Video: Transparency is hallmark of TOP CEO Awards as GCC winners get honored

From among a small pool of short-listed CEOs of listed firms, each winner was picked on the basis of growth,...
  • For the process not only to be fair and trustworthy, but also to be seen as such, another layer of transparency and accountability was added by roping in iNseaD business school
  • Global auditors were also brought in to ensure full transparency in the work
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