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.

Borouge’s PP5 unit generates $209m sales in H1 2023

ABU DHABI, UAE - Borouge's Chief Operating Officer Dr. Hasan Karam has said the fifth polypropylene unit (PP5) played a...

Business

Soniqs wins PUBG Global Series 2 Crown

It claimed $600,000 prize at Gamers8 - The Land of Heroes.

Business
Business

Dubai court orders Marka managers, directors to settle $122m debt

A Dubai court has ordered the managers and directors of Marka Holdings to repay the company’s AED448 million (around $128...
  • The court ruled that the managers and directors of the company had mismanaged it, leading to an underfunded bankruptcy
  • An underfunded bankruptcy is one where the entirety of the company’s assets is less than 20 percent of its outstanding debt

Abu Dhabi enacts personal status law for non-Muslims

The emirate of Abu Dhabi has proclaimed a new law in order to regulate personal status matters for non-Muslims, providing...
  • The law supports the Emirate's leadership by issuing the first civil law governing non-Muslim family matters in line with international best practices
  • The new law applies civil principles in the regulation of family matters
Business

YahSat Q3 profit down 38 percent

YahSat said its contracted future revenues are over $2 billion.
  • Yahsat said a final dividend of $52.5 million for 2021 is expected to be paid to all shareholders in April 2022.
  • YahSat was last week appointed by the UAE government to complete a detailed analysis, assessment and recommendation for two new satellites.
Business

EGA increases Al Taweelah smelter plant’s capacity by 78,000 tons per year

Emirates Global Aluminium (EGA) has increased the production capacity at Abu Dhabi's Al Taweelah smelter by 78,000 tons per year....
  • The plant adds 66 new reduction cells that were built using EGA's locally developed technology.
  • He said all 2,843 reduction cells at EGA use the company's own efficient technology developed in the UAE, says EGA CEO.
Business

Tadawul of Saudi Arabia to list its IPO on the bourse

Tadawul, the owner of Saudi Arabia's stock exchange, will proceed with its initial public offering (IPO) and list the shares...
  • The operator of the bourse will offer 36 million ordinary shares, representing 30 percent of its issued share capital of 120 million shares
  • This comes after the Gulf state’s regulator, Capital Markets Authority (CMA), signed off on the exchange’s IPO last week
Business

Axa insurance Q3 premiums down 7 percent

Q3 net profit down 18 percent from the same period last year.
  • The firm's total comprehensive income also dropped 36 percent to 38 million riyals.
  • Axa said the fall in net profit can be attributed to the overall decrease in insurance results and an increase in investment income.
Business

Colombia targets $1bn trade and direct flights with UAE

Colombia sees the UAE as a potential partner for growth in bilateral trade, economy, and tourism.
  • Non-oil bilateral trade between the two countries amounted to $176 million in the first half of 2019
  • The two nations are also in talks over signing a MoU for double taxation avoidance
Business

Sharjah earmarks $1.23m to support publishers

The gesture aims to provide public and government libraries in Sharjah with various modern publications in all Arab and foreign...
  • Sharjah ruler Sheikh Sultan bin Muhammad Al Qasimi has directed the allocation AED4.5 million (around $1.23 million) to help publishing houses
  • The amount will be used to purchase the latest publications from publishing houses participating in the Sharjah International Book Fair
Videos

How much does fuel cost in Arab countries?

Merely producing great quantities of oil or having a shortage does not dictate whether a country will have the cheapest...
  • The world usually buys gasoline at the same price, with the current global average being $1.21 per liter
  • However, the price at which gasoline is sold by each country varies because of national and provincial subsidies and tax rates
Business

Air France inks Dubai deals

It has signed sustainable aviation fuel deals with Dubai firms.
  • A high-level Air France delegation held strategic meetings with aviation leaders based in Dubai at Expo 2020
  • The networking event was organized in partnership with the lille3000 association and sponsored by Clarins

Borouge’s PP5 unit generates $209m sales in H1 2023

ABU DHABI, UAE - Borouge's Chief Operating Officer Dr. Hasan Karam has said the fifth polypropylene unit (PP5) played a...
Business

Company News

Latest News

Abu Dhabi Exchange, MSX sign cooperation agreement

Abu Dhabi, UAE---The Abu Dhabi Securities Exchange (ADX) and the Muscat Securities Market (MSX) signed a memorandum of understanding (MOU)...
Business

Jordan, Germany discuss scientific research, ties in water sector

Jordan's The Royal Scientific Society (RSS) and the Princess Sumaya University for Technology (PSUT) discussed with the German Research Foundation...
Science

CMA clears three new IPOs for listings on Saudi bourses

The CMA has approved an application from Power and Water Utility Co. for Jubail and Yanbu to register and sell...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

IHC buys 54% stake in Emircom

Firm buys stake for $68 million via its subsidiary IHC Digital
  • Emircom is the Middle East’s leading information and communications technology (ICT) provider.
  • This $68 million purchase comes as part of IHC’s strategy to grow its digital assets portfolio and expand into new growth areas.
Business

ADNOC Distribution to pay $349m

This is the first payment of a full-year AED2.57 billion dividend.
  • The second and final dividend for 2022 expected to be paid in April 2023, subject to the Board of Directors’ recommendation and shareholders’ approval.
  • The 2022 full-year dividend would offer a 4.9 percent annual dividend yield (based on a share price of AED4.21 as of 27th September 2022).
Business

ADC sets price for IPO

Its share will be available in the price range of $24-$27.
  • the process for institutional investors, which will end on Oct. 5, will be led by HSBC Saudi Arabia, Goldman Sachs Saudi Arabia, and SNB Capital
  • ADC is offering 30 percent of its capital, representing 26.7 million, and will list on Nomu