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

PIF announces pricing of inaugural $3.5bn global sukuk issue

RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) on Thursday successfully priced its first dollar-denominated Shariah-compliant trust certificates (sukuk)....

Business

Modon inks 2 MoUs with Saudi Exports, Local Content Authority

RIYADH, SAUDI ARABIA - The Saudi Authority for Industrial Cities and Technology Zones (Modon) has signed two memorandums of understanding...

Business
Business

Kuwait’s Warba Bank celebrates listing of $250m Sukuk on Nasdaq Dubai

Kuwait's leading Islamic bank, Warba Bank, celebrated the listing of the bank's $250 million perpetual Tier-1 Sukuk on Nasdaq Dubai...
  • This was the third listing after a $250 million and a $500 million instrument in Mar 2017 and Oct 2019 respectively.
  • The new listing brings the total outstanding value of the bank’s Sukuk on the exchange to $898 million.
Economy

Oman central bank’s FX reserves reached $18b in 2021

The board of governors at the Central Bank of Oman expressed satisfaction with the state of the 2021 FX reserves.
  • The bank’s board of governors observed that the total demand for foreign currency in the local market was at satisfactory levels
  • This, it opined, has brought the FX reserves of CBO in equation with the value of nine months of country’s imports
Economy

Iraq records high positive indicators for the economy in 2021

The Ministry of Planning has not prepared a report on economic indicators during the year 2021 but there is an...
  • All economic development movement shows positive results, the Ministry of Planning has said
  • The government projects that were suspended due to the financial and economic crisis have been resumed
Economy

Qatar to spend $60 million to build gas line for Gaza power station

The MoU was signed with the Energy and Natural Resources Authority, affiliated with the Palestinian Authority and the Gaza Electricity...
  • The MoU was signed with the Energy and Natural Resources Authority, affiliated with the Palestinian Authority and the Gaza Electricity Generation Company in the Gaza Strip
  • The Chairman of the Qatari Committee, Mohammed Al-Emadi, said that the agreement stipulates an increase in the plant’s production capacity to reach 500 megawatts
Economy

Jordan tourism revenues pass $21 million in first 11 months of 2021

The total number of tourists coming to the Kingdom in the period has surpassed 2.1 million, while the number of...
  • The total number of tourists coming to the Kingdom in the period has surpassed 2.1 million, while the number of overnight tourists has inched up by 8.9 percent
  • Jordanian Minister of Tourism Nayef Al-Fayez said that the National Tourism Strategy is geared to attract more tourists than recorded in 2019, before the outbreak of the pandemic
Business

Etihad signs China deal

The airline will work with the Henan Province Airport Group.
  • The virtual MoU was signed during the virtual Zhengzhou Week event at the China Pavilion at Expo 2020 Dubai
  • It is said to contain plans for Etihad’s potential operation of regular cargo services between Abu Dhabi and Zhengzhou
Economy

Palestine Q3 current-account deficit stands at $316m

The preliminary results showed a surplus value for the capital and financial account amounting to $222 million, mainly caused by...
  • This deficit in the current account was mainly triggered by the deficit of the trade balance of goods, which reached $1,464 million
  • The total transfers from abroad amounted to $602 million, of which 17% were the transfers to the government sector
Economy

Jordan to disburse $1.4m to drought-affected farmers

Jordan will distribute JD1 million to compensate those suffered losses due to the Al Waleh Dam draught and cross-border fires...
  • Jordan's cabinet had approved the disbursement of JD1 million in compensation from the Agricultural Risk Fund
  • Jordan as tasked specialized committees to limit the damages in the northern Jordan Valley and the Al-Wala Dam
Arts & Culture

Largest museum of Egyptian civilization to open in 2022 near Giza Pyramids

Egypt is set to open what is billed as the world’s largest museum of Egyptian civilization near the iconic Giza...
  • The Grand Museum is spread across 117 acres. Its inauguration was delayed due to COVID-19 pandemic, and will now open in the second half of 2022.
  • Egyptian teams managed to restore very important statues in the Luxor area, including a statue of King Ramses II who ruled Egypt for 66 years.
Arts & Culture

Kuwait Gulf Games deferred, will be held in May 2022

Kuwait will host the third Gulf Games from May 11-21, Secretary-General of Kuwait Olympic Committee Husain Al-Musallam said on Sunday....
  • The Gulf Games include football, handball, volleyball, basketball, swimming, athletics, karate, Judo and others.

PIF announces pricing of inaugural $3.5bn global sukuk issue

RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) on Thursday successfully priced its first dollar-denominated Shariah-compliant trust certificates (sukuk)....
Business

Company News

Latest News

Mubadala acquires stake in Skyborn

Skyborn Renewables is the world’s largest private offshore wind developer.
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,...
Business

Aramex acquires eCommerce enabler MyUS

The acquisition integrates MyUS into Aramex’s business.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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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
Economy

UAE to provide Ukraine with $100m in humanitarian aid

Minister of State for International Cooperation Reem bint Ebrahim Al Hashimy said the UAE's continued efforts to mitigate the humanitarian...
  • Minister of State for International Cooperation Reem bint Ebrahim Al Hashimy said the UAE's continued efforts to mitigate the humanitarian impact of the Ukraine crisis
  • Al Hashimy added that the UAE has provided similar aid in recent months to Ukrainian refugees in Poland and Moldova
Geostrategy

Abu Dhabi, Bangladesh to enhance trade, economic ties

The Abu Dhabi Department of Economic Development (ADDED), and Bangladesh Embassy in Abu Dhabi, have organized the Economic Cooperation Forum...
  • Abu Dhabi and Bangladesh bilateral trade and mutual investments are on the rise.
  • The Emirate and Bangladesh have organized the Economic Cooperation Forum to enhance mutual investment opportunities.