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

Diverse business models needed for trade with China, say Union of Arab Chambers

BEIRUT, LEBANON – The secretary general of the Union of Arab Chambers has called for diversified business models to facilitate...

Geostrategy

IsDB to finance projects worth US$800m in member states

JEDDAH, SAUDI ARABIA - The Board of Executive Directors (BED) of the Islamic Development Bank (IsDB) approved to finance projects...

Geostrategy
Geostrategy

Iran enacts population law criticized by UN experts

The law renders reproductive screening optional, imposes restrictions on abortion and limits access to contraception
  • It also tasks public broadcasters with producing content that encourages women to have more children and denounces celibacy or abortion.
  • About 46.6 percent of Iran's population of 83 million is under 30 years old.
Business

Monshaat attends franchise forum to promote Saudi brands globally

Saudi Arabia's General Authority for Small and Medium Enterprises (Monshaat), represented by the Commercial Franchise Center (Emtiyaz), is participating at...
  • The two-day International Franchise Forum in Dubai will provide 10 Saudi brands opportunity for expansion.
  • Emtiyaz, which represents Monshaat, is tasked with supporting and empowering local brands.
Business

Sanad secures $100m loan from FAB

The revolving credit facility deal was signed during Dubai Airshow.
  • Sanad said its relationship with FAB is now 10 years old and the two companies have seen over $950 million worth of agreements.
  • The various financings have been extended in support of Sanad’s global spare engine leasing and component access portfolios.
Business

CBK plans $794 million bonds

The issue's maturity period is six months, with a return rate of 1.250 percent.
  • The issue's maturity period is six months, with a return rate of 1.250 percent
  • The CBK had issued bonds and tawarruq worth 160 million Kuwaiti Dinars at the beginning of this month, with a return rate of 1.125 percent for a six-month maturity
Business

Iraq to scale up oil exports to 3.4 million barrels a day in Q1 2022

Iraq is expected to scale up its oil exports to 3.4 million barrels per day in the first quarter of...
  • The minister was speaking at the the Defense University for Higher Military Studies, stressing the role of the oil and gas industry in supporting the national economy
  • "Oil sector companies are working on a planned strategy to develop oil fields, optimize gas investment and use modern technology in manufacturing and refining"
Business

Emirates to retrofit 105 aircraft with Premium Economy product from 2022

Emirates announced at the Dubai Airshow 2021 on Tuesday that it will retrofit 105 of its modern wide-body aircraft with...
  • The aircraft will be retrofitted at Emirates Engineering Centre in Dubai.
  • The airline is also considering installing a new Business Class product on its Boeing 777 aircraft, with customized seats in a 1-2-1 layout.
Business

Saudi Arabia stares at another round of inflation

The country’s inflation in the last quarter of this year, however, will be relatively stable, SAMA has pointed out. As...
  • Saudi Central Bank cites jumps in global inflation levels and a strengthening of domestic demand as contributors to the rise in consumer prices
  • On a quarterly basis, however, the country’s inflation in this year’s last quarter will be relatively stable, says SAMA
Business

Investment Group signs share swap contract with Elegancia

Investment Holding Group Q.P.S.C. has signed a share swap contract with the sellers of the shares of Elegancia Group LLC...
  • The contract, however, will not result in any legal effect until after obtaining the approval of the Qatar Financial Markets Authority
  • The company will follow and implement all laws and instructions issued by the Qatar Financial Markets Authority
Economy

New service to help start business in Saudi Arabia in three steps

For new investors, the new service will require only three steps: visiting the Saudi Ministry of Foreign Affairs website and...
  • Investors and companies wanting to do business in the Kingdom will benefit from the new reforms
  • The ministry said there will be a broad marketing campaign to ensure that foreign investors and companies can benefit from the new service
Business

Dubai Airshow Day 2: UAE military inks $3bn deals

The deals were signed with one local company and four others from around the world.
  • The total number of deals in these two days have been 10 contracts with a total value of AED16.52 billion ($4.5 billion)
  • The deals of the first day amounted to AED5.24 billion ($1.43 billion), including one with Airbus Defense

Diverse business models needed for trade with China, say Union of Arab Chambers

BEIRUT, LEBANON – The secretary general of the Union of Arab Chambers has called for diversified business models to facilitate...
Geostrategy

Company News

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UAE Ministry of Emiratization launches Customer First forum

UAE Ministry of Human Resources and Emiratization has launched the Customer First Forum, comprising virtual sessions on a weekly basis...
Economy

DP World launches GBC to support growth plans of large companies

Dubai, UAE--- DP World has launched the Global Business Corporation (GBC), a new strategic arm focused on supporting large companies...
Business

Number of visitors to Qatar rise by 138.3% in August

The highest number of visitors was from the GCC countries at 59 percent.
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

SAFEEN, Amaan Baghdad sign MoU

The agreement relates to fuel oil transport and storage.
  • SAFEEN Feeders, a subsidiary of SAFEEN Group, will manage the entire project, providing three Very Large Crude Carriers (VLCCs) and one Medium Range (MR) tanker.
  • SAFEEN Feeders will transport fuel oil from terminals in Port of Khor Al Zubair and Umm Qasr South Port to Iraqi territorial waters using the MR tanker.
Geostrategy

GCC renews pledge to deepen partnership with China

The Gulf Cooperation Council (GCC) has renewed its commitment to continue having a strong partnership with China in order to...
  • The sentiment was echoed in a meeting between Secretary General of the GCC, Dr. Nayef Falah Mubarak Al-Hajraf, and China's Ambassador to Saudi Arabia, Chen Weiqing
  • The two sides discussed all issues and topics of common interest, and reviewed the cooperation relations between the GCC and China to achieve common interests
Economy

Saudi Arabia holds GCC meeting to boost economic ties

Saudi Arabia hosted a meeting of the GCC Financial and Economic Cooperation Committee to broaden economic cooperation among the GCC...
  • The meeting was held under the chairmanship of Minister of Finance Mohammed bin Abdullah Al-Jadaan
  • It reviewed a host of issues related to enhancing financial and economic cooperation among the GCC countries besides discussing the impact of the world economic crisis