INSEAD Day 4 - 728x90

Samsung biggest chip investor

The tech giant invested nearly $59.2bn in 2025.

flynas to set up new hub

Five destinations in first phase of operations.

AD Ports Group acquires CLI

CLI is Brazilian agri-bulk terminal operator.

$1.59bn Makkah project awarded

A consortium will develop two districts in the Holy City.

2PointZero posts profit surge

Growth driven by merger consolidation.

EIH acquires stake in 9Yards Comm

The acquisition aims to broaden EIH's investment portfolio.

Business

BRICS, SCO membership to reduce West’s sanctions effect, says Iran

"Given our numerous capabilities, we consider Iran’s membership in BRICS and the SCO as well as participation in other regional...

Geostrategy
Economy

Dubai sets up AED1bn fund to support startups

The Fund, an initiative of the Dubai Securities and Exchange Higher Committee, will focus on supporting efforts to implement the...
  • The Fund seeks to fill a funding gap in the MENA venture capital (VC) market by investing in technology startups in the early stages of growth
  • As part of its mandate, the Fund will invest in a range of key initiatives, including Dubai Future Accelerators, DIFC FinTech Hive and Venture Builder Studios
Business

Saudi EXIM inks $118m deals

The deals were signed at the Saudi Trade Finance Summit.
  • The first deal was with the Saudi British Bank with a value of SAR238 million (around $63.5 million)
  • The other two were credit-line agreements with Jordan’s Capital Bank and the National Bank of Iraq for $55 million
Business

Emirates expands cargo capacity with AED3.6 bn investment

Emirates SkyCargo was the launch customer for the Boeing 777-F and the aircraft has been at the heart of the...
  • Emirates SkyCargo has signed a purchase agreement with Boeing for two new Boeing 777-F aircraft,
  • Over the years, the Boeing 777 freighter has been a critical pillar of Emirates SkyCargo operations
Business

UAE updates labor law for private sector

The new decree-law is expected to, among other things, regulate job contracts and give workers more rights.
  • The new law, meant for workers in the private sector, will come into effect from February 2 next year
  • It is said to embody a host of measures to ensure a safe, healthy, and business-conducive environment for all employees in the sector
Business

Pact signed to position Dubai Airshow as platform for space sector investors

Dubai Airshow and the UAE Space Agency will collaborate to position Dubai Airshow as a key platform for companies and...
  • Dubai Airshow and UAE Space Agency sign MoU to coordinate strategies for enhancing space sector's presence in future events.
  • This year’s Dubai Airshow is the biggest edition of the event since it began in 1989, with around 85,000 visitors attending across the week. 
Expo 2020 DUBAI

Expo opportunity to boost UAE-Monaco cooperation: Prince Albert II

Prince of Monaco, Albert II has called Expo 2020 Dubai a "great opportunity" to enhance the cooperation between his country...
  • The UAE and Monaco are centers of global exchanges, the prince said on the sidelines of Monaco's National Day celebration at Expo.
  • Monaco’s pavilion at Expo 2020 is located in the Opportunities District and is inspired by the legendary Rock of Monaco.
Business

Middle East’s first waste-to-sustainable aviation fuel plant to come up in Abu Dhabi

Abu Dhabi Waste Management Centre (Tadweer) has signed an agreement with Etihad Airways to facilitate the development of the first...
  • The plant can convert 4 million tons of municipal waste every year into 140 million gallons of fuel.
  • The plant will help Abu Dhabi to divert 75 percent of municipal waste away from landfills.
Business

Air Lease Corporation signs letter of intent to purchase 111 Airbus aircraft

US company Air Lease Corporation (ALC) has signed a letter of intent to purchase 111 Airbus aircraft, the European plane-maker...
  • The agreement is for 25 A220-300s, 55 A321neos, 20 A321XLRs, four A330neos and seven A350Fs.
  • Founded in 2010, ALC has ordered a total of 496 Airbus aircraft so far.
Business

EDB and Dubai IE sign pact to offer UAE exporters access to finance

Emirates Development Bank (EDB) has signed a strategic agreement with Dubai Industries & Exports (Dubai IE) to provide innovative financing...
  • The finance will help exporters expand their global value chains, said CEO of EDB.
  • EDB has also allocated AED30 billion as a direct and indirect financial bundle to finance SMEs, startups, and corporates.
Geostrategy

Iran invites UN nuclear watchdog chief to Tehran for talks

Iran has invited the head of the International Atomic Energy Agency for talks after the UN official expressed concern over...
  • Rafael Grossi is expected to meet with Iran's foreign minister and the country's atomic energy chief.
  • Grossi last visited Tehran in September, where he clinched a deal over access to surveillance equipment at Iran's nuclear facilities.

EIH acquires stake in 9Yards Comm

The acquisition aims to broaden EIH's investment portfolio.
Business

Company News

Latest News

Saudi banks provide $630 billion loans till August 2022

Riyadh, Saudi Arabia - Saudi bank loans granted to public and private sectors grew 15 percent  by the end of...
Economy

Cultural policy vital for diversified economy, says UAE Minister

UAE Ministry of Culture and Youth participated in the UNESCO World Conference on Cultural Policies and Sustainable Development – MONDIACULT...
Arts & Culture

UAE-China non-oil trade exceeds $470bn in past decade

Abu Dhabi, UAE - The non-oil trade between the UAE and China increased by 78.5 percent from 2012 to 2021,...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Sharjah Chamber organizes forum, briefs Russian delegation

The Sharjah Chamber of Commerce and Industry (SCCI) has organized a forum to discuss ways to boost economic ties and...
  • The forum witnessed bilateral meetings between business owners from Sharjah and Russia.
  • The chamber briefed the Russian trade mission on Sharjah’s business advantages and facilities.
Business

Mawani, Tabadul to develop port community management systems

Riyadh, Saudi Arabia---Saudi Ports Authority (Mawani) and the Saudi Information Exchange Company (Tabadul) signed an MoU to develop new port...
  • The MoU aims to achieve the expansion of services provided in Saudi ports and doubling their number from 46 to 150 besides.
  • It also aims at enabling modern and emerging technologies in accordance with international best practices.
Geostrategy

UAE-China ties successful model of international relations: Al Dhaheri

Beijing, China---Ali Obaid Al Dhaheri, UAE Ambassador to China, has said the UAE and China maintain close strategic relations, which...
  • As one of the first countries to join the Belt and Road Initiative, UAE has become the main logistical centre in the MENA, said Ali Obaid Al Dhaheri.
  • It re-exports more than 60 percent of Chinese exports to the region, where the value of trade exchange between the two countries has exceeded $70 billion.