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.

OFID, partners offer $60m loan to Tanzania for renewable energy

VIENNA, AUSTRIA -  A new US$60 million loan by the OPEC Fund for International Development (OFID) and partners is expected...

Economy

Kuwait, UN sign MoU to enhance cooperation in counter terrorism

NEW YORK, US - Kuwait Ministry of Foreign Affairs and the United Nations signed a Memorandum of Understanding (MoU) aimed...

Geostrategy
Business

Saudi Arabia to develop luxury mountain resort in western region

Saudi Arabia will develop a new luxury mountain resort as the giga project inches closer to welcoming its first guest...
  • The Desert Rock resort will have 60 keys in total and is part of the kingdom's giga project The Red Sea Project
  • The 48 villas and 12 hotel rooms will offer visitors views of the wadi vistas in the western region of the kingdom
Business

Lebanon reforms will get foreign aid flowing: UNSC

The common belief in the international community is that the reason behind Lebanon’s economic crisis is corruption and misgovernance. Thus,...
  • The UNSC has said in its statement that these reforms would help the masses suffering from the economic crisis and the resulting shortages
  • It added that the reforms would also ‘ensure effective international support’
Geostrategy

After Brussels dialogue, European Union welcomes reforms in Saudi Arabia

DUBAI: The European Union Tuesday welcomed the reforms taking place in Saudi Arabia and noted that "significant steps" have been...
  • The EU and the kingdom held the first-ever Human Rights Dialogue in Brussels on Monday.
  • Significant steps have been taken to advance women's rights in Saudi Arabia, the EU said.
Business

India to share white shipping info with Gulf countries

India has said in a statement that the MoU would ‘contribute to enhanced maritime safety and security in the region.’
  • The MoU is expected to facilitate exchange of white shipping information between India and the Gulf countries
  • White shipping information is about the exchange of advance details on the identity and movement of commercial, non-military merchant ships
Business

Saudi to build three sewage plants costing $630m

The plants are being built under the Privatization Program, one of the elements of Vision 2030, said Abdulrahman Bin Abdulmohsen...
  • The plants are expected to be ready by the end of 2024.
  • Madinah, Qassim and Tabuk each will have a plant with daily processing capacity ranging between 90,000-375,000 cum.
Business

Fourth cycle of Dubai SME 100 gets underway

The fourth cycle is expected to highlight SMEs in Dubai that have shown resilience and progress despite the Covid-19 pandemic.
  • Dubai SME 100 is initiative that ranks the top 100 SMEs in Dubai based on their performance
  • It aims to identify SMEs based on financial and non-financial parameters, and support their growth
Geostrategy

Revelations at Expos in the Past: Ketchup, Eiffel Tower, telephone

As Expo 2020 opens in Dubai on Friday, hoping to attract millions of visitors with its imaginative pavilions and technological...
  • The most famous Expo was perhaps the Paris 1889 edition, where the Eiffel Tower by architect Gustave Eiffel was unveiled.
  • Alexander Graham Bell's telephone was first demonstrated to the public at the Philadelphia world fair in 1876.
Business

Agthia to pay $17.8m in H1 dividend

The Abu Dhabi-listed company will pay AED 65.31 million cash dividend.
  • The company’s total revenues grew 21 percent year-on-year to 1.32 billion dirhams in the first six months of 2021.
  • The dividend marks the first interim pay-out of the firm.
Business

MidChains finishes first trades of assets

Abu Dhabi-based virtual asset trading platform has traded in Bitcoin, Ethereum, Litecoin, etc.
  • MidChains has confirmed trades across Bitcoin, Ethereum, Litecoin and Bitcoin Cash and is the first regulated platform in the UAE to have conducted trades across all these virtual
  • MidChains is the first and only fully-regulated virtual asset trading platform to receive sovereign wealth fund backing in the region
Business

Abu Dhabi, Pakistan discuss boosting business ties

The chamber is ready to offer all the services required to help Pakistani businesses and entrepreneurs in Abu Dhabi.
  • Mohamed Helal Al Mheiri, Director-General of Abu Dhabi Chamber of Commerce and Industry, represented the emirate
  • Afzaal Mahmood, Pakistan's Ambassador to the UAE, represented his country at the discussion

OFID, partners offer $60m loan to Tanzania for renewable energy

VIENNA, AUSTRIA -  A new US$60 million loan by the OPEC Fund for International Development (OFID) and partners is expected...
Economy

Company News

Latest News

Lebanon-Israel maritime talks to conclude in days: Lebanese official

Negotiations between Lebanon and Israel have been mediated by the US to delineate a shared maritime border.
Geostrategy

First phase of ADNOC Refining’s WHR project nears completion

ADNOC Refining's Waste Heat Recovery (WHR) project is designed to capture exhaust heat from the gas-powered turbines at ADNOC Refining's...
Business

Dubai records realty transactions worth $517 million: Land Department

Dubai, UAE--- Dubai real estate market recorded 344 sales transactions worth AED1.77 billion ($481 million), in addition to 67 mortgage...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

PIF to buy stake in Seera

PIF will pick up $1bn stake in Seera Group's travel unit.
  • Seera Group said in a bourse filing that the PIF wants to hold 30 percent of Almosafer’s capital
  • Almosafer aims to use the capital injection to scale up its tourism operations and strengthen its position as a leading travel agency in the kingdom
Business

ADQ monetises minority stake of 8.6% in TAQA

TAQA is a diversified utilities and energy group headquartered in Abu Dhabi, and listed on the Abu Dhabi Securities Exchange.
  • TAQA is a diversified utilities and energy group headquartered in Abu Dhabi, and listed on the Abu Dhabi Securities Exchange
  • The company has significant investments in power and water generation, transmission and distribution assets
Geostrategy

India to invite UAE as ‘guest country’ at G-20 Summit

India, the incoming President of the Group of Twenty (G-20) announced that it will invite the UAE as one of...
  • The G-20 accounts for 85 percent of global GDP, 75 percent of international trade and two-thirds of the world population.
  • This is the first of a series of announcements being made by India preparatory to its assumption of the G-20 Presidency on December 1, 2022.