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.

Emirates NBD Group invests in sustainability startup Erguvan

Dubai, UAE - Emirates NBD made an investment in Erguvan, a climate and financial technology venture aimed at providing financial...

Business

Iran-US non-oil trade reaches US$31m in January-July 2023

TEHRAN, IRAN - The US Bureau of Statistics in its latest report said the trade between Iran and the United...

Business
Economy

Abu Dhabi gives out $2.72bn in housing loans and plots

Abu Dhabi has announced disbursement of housing loans and houses, and residential plots and the exemption of families of deceased...
  • The housing package, worth a total of $2.72 billion, benefited 10,032 citizens in the Emirate of Abu Dhabi
  • The announcement coincides with the UAE's celebrations of 50th National Day, and reflects the leadership’s commitment to ensuring social stability, enhancing living standards
Business

Saudi officials seize a big haul of drugs at border

Saudi officials of the Zakat, Tax and Customs Authority (ZATCA) have seized more than 2.1 million Captagon pills at Haditha...
  • In the first attempt to smuggle in some 467,441 Captagon pills, the smuggler hid them in the cavity of one of the trucks coming through the point
  • The officials said that they have arrested 12 people in connection with the smuggling bid
Science

UAE gets its first driverless autonomous vehicle

Khalifa University has thus become the first university in the UAE to deploy an Autonomous Vehicle (AV) on campus that...
  • The driverless and 100 percent electric shuttle is the first-ever autonomous vehicles to be deployed in the UAE in a mixed traffic mode
  • The Khalifa University AV can detect and avoid potential obstacles thanks to the onboard sensors, Light Detection and Ranging, cameras, GPS etc
Geostrategy

Netherlands to help Unesco fund Lebanon media to cover polls

The Netherlands will provide support to the Lebanese media to ensure access to and delivery of reliable information for voters.
  • The project is expected to support “free, plural, and fair elections in Lebanon”
  • The funds are expected to be allocated by Unesco over the next few months
Economy

Iran, Turkmenistan, Kazakhstan sign MoU on railway cooperation

The rail cooperation document was signed between the three countries on the sidelines of the summit of ECO member-states.
  • The rail cooperation document was signed between the three countries on the sidelines of the summit of ECO member-states
  • The MoU stipulates that a joint working group be formed to oversee the growth of cargo passing through the transit route
Economy

Iran-ECO trade grows over 48% in 7 months year on year

The volume of trade with the ECO countries - Turkey, Afghanistan, the Republic of Azerbaijan, Kyrgyzstan, Kazakhstan, Pakistan, Tajikistan, Turkmenistan,...
  • Major Iranian export destinations were Turkey ($3.397 billion), Afghanistan ($1.125 billion), Pakistan ($655.154 million), and Azerbaijan ($272.958 million)
  • Iran’s export to ECO members increased by 58 percent and 60 percent compared to the figures for the previous year in terms of weight and value, respectively
Geostrategy

Iraq, Turkey discuss financial and banking relations

Governor of Central Bank of Iraq called on his Turkish counterpart, to "provide facilities to Iraqi banks in a way...
  • Governor of Central Bank of Iraq called on his Turkish counterpart to facilitate the settlement of the trade balance between the two countries
  • His Turkish counterpart said that the Central Bank of Turkey was "ready to open the doors of cooperation and facilitate banking operations between the two countries."
Business

GCC region at the heart of the future of esports: GMIS

Hosted by the Global Esports Federation (GEF), the event was part of the GMIS Week that runs from 22 to...
  • Hosted by the Global Esports Federation (GEF), the event was part of the GMIS Week that runs from 22 to 27 November at Expo 2020’s Dubai Exhibition Centre
  • Dr Khizer Kaderi, Member of the GEF Health & Wellness Commission, defined the metaverse as a confluence of physical and digital worlds
Science

B.1.1.529 is ‘variant of concern,’ as WHO names it Omicron

WHO says the new variant ‘has a large number of mutations, some of which are concerning.’
  • WHO said the Omicron strain was first reported officially by South Africa on November 24
  • However, the first known confirmed B.1.1.529 infection was from a specimen collected on November 9
Business

Masdar to build Armenia’s largest solar plant on DFBOO basis

Masdar, a renewable energy company and a subsidiary of Mubadala Investment Company, will build a 200-megawatt solar photovoltaic (PV) plant...
  • The plant will span over 500 hectares and will create a large number of direct and indirect jobs.
  • The project company will be 85 percent owned by Masdar and the rest by the Armenian National Interests Fund.

Emirates NBD Group invests in sustainability startup Erguvan

Dubai, UAE - Emirates NBD made an investment in Erguvan, a climate and financial technology venture aimed at providing financial...
Business

Company News

Latest News

Nykaa enters into a strategic alliance with Middle East-based Apparel group

Nykaa will leverage the Apparel Group’s robust retail infrastructure network and deep market relationships to build distinctive GCC focused beauty...
Business

Tihama’s stock surges 10%

The firm won the nod from CMA to increase capital by 700%.
Business

Jordan’s first medical university set to enroll students

The Aqaba Medical Sciences University (AMSU), the first medical university in Jordan, will enroll its first class of medical and...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Market Report

ADX adds 5 single stock futures

The move will help develop ADX derivatives market.
  • The addition of new contracts has doubled the total number of derivative products on ADX to 10 in less than a year.
  • Market participants will be able to trade on leverage and hedge their equity exposure using these contracts.
Business

TAQA to sell Netherlands business

TAQA Energy will sell upstream oil and gas business to Waldorf.
  • The financial terms of the deal were not disclosed. TAQA said the sale was made following its 5 July 2022 announcement that it had completed a review of oil and gas business.
  • On September 23, TAQA and ADNOC announced the financial closing of their $3.8 billion project to power and decarbonize ADNOC's offshore production operations.
Business

Mubadala Health, G42 to form new firm

Both companies will merge their healthcare businesses.
  • Hasan Jasem Al Nowais has been appointed CEO of the new entity and will continue to lead Mubadala Health.
  • The new entity will also focus on collaboration with leading researchers and pharmaceutical and health-tech ecosystems.