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.

Saudi Arabia’s PIF sets up Sawani Company for camel dairy industry

RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) announced the establishment of Sawani Company to enable the growth of...

Business

Saudi Arabia, Japan issue joint statement on Lighthouse Initiative for Clean Energy Cooperation

RIYADH, SAUDI ARABIA – Saudi Arabia and Japan issued a joint statement on Lighthouse Initiative for Clean Energy Cooperation. The...

Geostrategy
Business

Jarir posts $194m net profit in nine months

Q3 net profit surges 44 percent compared to Q2.
  • The increase in net profit was attributed to a decrease in selling and marketing expenses and financing costs.
  • The net comprehensive income grows by about 2 percent.
Business

ArcelorMittal arm buys Sharjah mill

ArcelorMittal Projects is a part of the ArcelorMittal Group.
  • ArcelorMittal Projects has also leased 1.38 million sq ft of industrial land in the zone
  • The entire transaction, to be concluded in two phases, has a price tag of AED90 million ($24.51 million)
Business

DP World and UK’s CDC Group to create Africa investment platform

DP World will contribute its stakes in three existing ports and invest $1 billion over the next few years through...
  • DP World will contribute its stakes in three existing ports and invest $1bn over the next few years.
  • CDC is committing $320 million initially and a further $400 million over the next several years.
Economy

Lebanon leaders start conclave to plan rescue of economy

Lebanon is currently experiencing possibly the worst economic crisis in the world.
  • Members of the Lebanese government started a conclave to develop a vision on a rescue and action plan for the country
  • The conclave began at the monastery of Saint John the Citadel in Beit Meri
Business

ACWA Power to enter Saudi Arabia’s main market from Oct. 18

Riyad-based ACWA Power will enter Saudi Arabia’s main market from the start of trading on Oct.18 and also join the...
  • After debut on the Saudi exchange, ACWA shares jump by 30 percent.
  • ACWA Power is selling an 11.1 percent stake at SR56 ($14.93) per share. It is the third-largest listing on the bourse.
Business

UAE and Italy’s export credit agencies review progress of joint initiatives

Etihad Credit Insurance (ECI), the UAE Federal export credit company, and SACE, the Italian export credit company (CDP Group), have...
  • Etihad Credit Insurance chief says significant gains made in Halal-certified businesses.
  • The two sides explored how they can help boost the flow of goods, services and investment capital worldwide.
Economy

Arab region natural gas demand growing at ‘fastest’ pace: OAPEC

Demand for gas in the region eclipses global demand by more than twofold, the second highest in the world in...
  • Power generation in the region forms 52 percent of total consumption, with the region's energy transition plans heavily reliant on LNG import projects
  • The bloc espoused the merits of LNG output expansion in improving energy efficiency by up to 39 percent as part of efforts to reduce dependence on oil and petroleum products
Business

IHC of Abu Dhabi acquires 51 percent of Bin Suhail Group to form beauty joint venture

International Holding Company (IHC), Abu Dhabi conglomerate, has agreed to acquire 51% of Bin Suhail Group through a subsidiary to...
  • IHC subsidiary Multiply Group, owner of beauty brands such as Bedashing, will merge with Bin Suhail Group
  • The joint venture will operate under newly-established Omorfia Group, in which IHC will own a controlling 51% stake
Economy

Saudi eyes $100bn yearly in foreign investment as part of Vision 2030 plan

The NIS is expected to raise annual FDI flows to $103.47 billion and increase annual domestic investment to $286.33 billion...
  • The National Investment Strategy is expected to increase annual domestic investment to 1.7 trillion riyals by 2030
  • The strategy will be ‘a key enabler; of the Vision 2030 plan, announced in 2016 to diversify the economy of the world's biggest oil exporter
Business

World’s first Warner Bros. hotel to welcome guests in November on Yas Island

Miral in collaboration with Warner Bros. announced today that The WB Abu Dhabi hotel on Yas Island, operated by Hilton...
  • Visitors can stroll through the lobby or admire 360-degree city and sea views alongside their favorite props and costumes from Warner Bros. films and TV shows
  • And kids and families can ring up one of their favorite Looney Tunes characters for a room service treat brought to them by the Wascally Wabbit, Bugs Bunny himself

Saudi Arabia’s PIF sets up Sawani Company for camel dairy industry

RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) announced the establishment of Sawani Company to enable the growth of...
Business

Company News

Latest News

Record volume handled by Saudi ports in eight months: Mawani

Riyadh, Saudi Arabia---Saudi Ports Authority (Mawani) handled record tons of volume at the Kingdom's various ports from Jan-Aug this year....
Business

Treated sewage water improves wheat growth, production in UAE

A study by an Emirati researcher has shown that wheat growth can be accelerated and production improved using treated sewage...
Research

Dubai reduced carbon emissions by 21 percent in 2021

The Dubai Supreme Council of Energy had a virtual meeting in which it was revealed that Dubai had reduced carbon...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

UAE financial restructuring body holds second meeting

The UAE finance ministry's Financial Restructuring Committee (FRC) recently held the second meeting of its Consultative Council.
  • The meeting discussed the development of the financial reorganization service.
  • It deliberated on the best ways to communicate relevant information about financial restructuring procedures.
Business

IHC acquires stake in Burjeel

The 15% stake in Burjeel will diversify healthcare investment.
  • IHC’s revenue grew by 121 per cent to AED21.93 billion in the first six months of 2022, compared to the same period last year.
  • The company invested AED7.3bn ($2bn) in the Indian conglomerate, Adani Group, and also acquired a 70 per cent stake in Arena, the global event structures and services company.
Business

Women complain of bias in accounting profession in MENA

In a diversity, equity, and inclusion (DE&I) study in the MENA accounting profession, 63 percent of women across each of...
  • The diversity, equity, and inclusion (DE&I) research study focuses primarily on gender, nationality, and ability within the MENA region
  • 83 percent of respondents with a disability and 53 percent of female respondents have left an employer due to a lack of DE&I