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

Iraqi Trade Center to be launched at ACC’s headquarters in Jordan

AMMAN, JORDAN - Amman Chamber of Commerce (ACC) and the Iraqi Embassy here agreed to open Iraqi Trade Center at...

Business

French President says change in existing world order would weaken West, Europe

PARIS, FRANCE - Attempts to change the existing world order threaten to weaken the West and especially Europe, French President...

Geostrategy
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

Iraqi Trade Center to be launched at ACC’s headquarters in Jordan

AMMAN, JORDAN - Amman Chamber of Commerce (ACC) and the Iraqi Embassy here agreed to open Iraqi Trade Center at...
Business

Company News

Latest News

First international shipment arrives at Mugharraq Port

Abu Dhabi, UAE--- AD Ports Group Thursday announced the arrival of the first international shipment at Mugharraq Port, one of...
Business

Dubai fifth globally in UN digital city governance survey 2022

Dubai ranked fifth globally and first in the Arab World in the Local Online Service Index (LOSI) 2022 issued by...
Geostrategy

DMCC holds events in Miami and New York to attract US companies

Dubai, UAE--- Dubai Multi Commodities Centre (DMCC) said Thursday it has concluded Made For Trade Live events in Miami and...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Saudi Crown Prince meets minister of defense, commanders

Prince Mohammed bin Salman bin Abdulaziz expressed his appreciation for the progress achieved in the implementation of the ministry's development...
  • Prince Mohammed bin Salman bin Abdulaziz expressed his appreciation for the progress achieved in the implementation of the ministry's development program
  • Defence minister Prince Khalid bin Salman bin Abdulaziz affirmed the ministry will continue to implement the development programs drawn up by the Crown Prince
Economy

UAE economy achieves pre-pandemic level growth: WB regional director

Abousleiman said the UAE led the world with a successful vaccination programme in 2021, as well as its monetary and...
  • Abousleiman said the UAE led the world with a successful vaccination programme in 2021, as well as its monetary and fiscal stimulus packages
  • He added that the GCC region is projected to expand by 5.9 percent in 2022 before moderating to 3.7 percent and 3.3 percent in 2023 and 2024, respectively
Geostrategy

UAE, Japan sign comprehensive strategic partnership pact

Minister of Industry and Advanced Technology and UAE Special Envoy to Japan Dr. Sultan bin Ahmed Al Jaber and the...
  • The UAE-Japan strategic partnership agreement aims to bolster relations between the two countries to advance their common interests.
  • The key areas of the partnership include diplomacy, enhancing international development, humanitarian aid efforts, business, trade, energy.