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

World must understand AI, curb its risk, says UK Deputy PM

NEW YORK, US - The United Kingdom will be holding a summit on artificial intelligence (AI) so that nations can...

Science

Israel accounts for 46 percent of global Jewish population

TEL AVIV, ISRAEL – The total global Jewish population rose to 15.7 million over the last year, while the number...

Geostrategy
Economy

Saudi employers can now issue residence, work permits on quarterly basis

Saudi Arabia has announced a new procedure that allows employers to renew residence permits, work permits and financial compensation for...
  • The Ministry of Human Resources and Social Development and General Directorate of Passports have started the service.
  • The General Directorate of Passports stated that this service can be availed through the Absher Business and Muqeem platforms.
Business

Schneider Electric says electricity use in Iraq rising annually by 10 percent

Consumption of electrical energy is increasing by 10 percent annually in Iraq, which necessitates a robust distribution network, said the...
  • The increase in energy requires a robust distribution network and large stations.
  • The company said it works in gas and oil in Basra, and there are projects to expand oil discovery.
Business

ESG of UAE buys 70% stake in WFC Holding

Emirates Stallions Group (ESG) has bought a 70 percent stake in WFC Holding as part of its plan to diversify...
  • ESG said WFC Holding, which encompasses business process outsourcing and manpower outsourcing services, will complement its mainstream construction and real estate business
  • “This acquisition will allow us to expand, manage and control our client’s manpower operations better"
Business

UAE energy ministry intensifies monitoring of liquefied natural gas shipments

The UAE's Ministry of Energy and Infrastructure said on Wednesday that it is intensifying inspections of liquefied natural gas (LNG)...
  • LNG cargoes that fall short of the standards pose a threat to the community safety and impinge on the profitability of national companies, a ministry official said.
  • The ministry is keen to enhance corporate awareness about the procedures adopted by the UAE to regulate the transportation of oil derivatives.
Economy

Saudi non-oil exports leap up 28% to $18.48bn in Q3

Saudi Arabia recorded a 28.4 percent rise in non-oil exports in the third quarter of 2021 to $18.48 billion thanks...
  • The ratio of non-oil exports to imports increased to 48 percent in Q3 2021 from 44 percent in the year-ago period
  • Overall, exports increased by 72 percent year-on-year to 276 billion riyals, mainly due to higher oil exports, which rose by 100 billion riyals, or nearly 94 percent
Business

UAE banks waive $313 million in debts of 4,511 Emirati citizens

Debts of 4,511 Emirati citizens, amounting to AED1.15 billion ($313 million), have been waived by 20 banks and financial institutions,...
  • 20 banks and financial institutions provided debt relief on the direction of Sheikh Khalifa bin Zayed Al Nahyan.
  • First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Emirates NBD, Abu Dhabi Islamic Bank were among the banks that waived debts.
Business

DXB to welcome 1.8m passengers in next 11 days

According to the operator, as many as 1.8 million passengers are expected to pass through DXB between November 25 to...
  • According to the operator, as many as 1.8 million passengers are expected to pass through DXB between November 25 to December 5
  • December 4 is expected to be the busiest day during this period with passenger numbers likely to surpass the 190,000 mark
Business

GMIS2021 concludes in UAE with launch of GMIS America

The inaugural edition of the GMIS America will take place in 2022 in Pittsburgh as a homage to a city...
  • The inaugural edition of the GMIS America will take place in 2022 in Pittsburgh as a homage to a city that has rebounded from significant industrial challenges
  • The summit explored the role of data and connectivity in shaping the future of supply chains, green manufacturing, sustainable energy, and climate action
Geostrategy

AFESD signs $33m deal to fund water and electricity project in Bahrain

The Arab Fund for Economic and Social Development (AFESD) signed a deal worth KD ten million ($33 million) with Bahrain...
  • Bahrain moving ahead with advancing economic development, Finance Minister Sheikh Salman bin Khalifa said.
  • The project will contribute to maintaining the service provided by the Electricity and Water Authority.
Geostrategy

Iraqi delegation to visit Geneva, discuss country’s WTO accession

Iraq is making efforts towards joining the World Trade Organization and its Minister of Trade will visit Geneva to discuss...
  • The delegation is likely to reach an agreement with European trade ministers.
  • Iraq needs to pass laws and legislation on many topics, including the economy and customs, a trade ministry spokesman said.

World must understand AI, curb its risk, says UK Deputy PM

NEW YORK, US - The United Kingdom will be holding a summit on artificial intelligence (AI) so that nations can...
Science

Company News

Latest News

Jordan and Iraq set up electrical project on the border

The two prime ministers affirmed that Jordan and Iraq maintain historical and strategic ties and are committed to expanding bilateral...
Economy

ADX adds 5 single stock futures

The move will help develop ADX derivatives market.
Market Report

TAQA to sell Netherlands business

TAQA Energy will sell upstream oil and gas business to Waldorf.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

UK in talks with Qatar and Norway to import energy

Amid crippling energy shortages, the British government is negotiating with Qatar and Norway to secure new long-term gas contract, according...
  • Senior civil servants are more hesitant, with figures in the Treasury warning that Britain would be stuck with higher prices if the cost of gas more generally dips after the hike
  • Truss told Sky News that no agreement had been signed as it stands, but that she was committed to providing long-term energy security for the UK
Business

Investopia partners discuss investment opportunities in ME region

The discussions took place during a business session held in collaboration with Abu Dhabi Department of Economic Development.
  • The discussions took place during a business session held in collaboration with Abu Dhabi Department of Economic Development
  • The global investment platform also announced its next annual conference on 1 and 2 March 2023 in Abu Dhabi
Business

Dubai Industrial City unveils plant to manufacture electric cars

The ceremony was attended by Dr. Majida Al Azazi, Chairman of the Board of Directors of M Glory Holding Group,...
  • The new plant houses the temporary assembly line, which has a maximum production capacity of 10,000 cars per year
  • The setting up of the factory, according to DIC, will enable regional manufacturers like M Glory to establish businesses and further the 'Make it in the Emirates’ initiative'