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.

Cruise visitors to Qatar in 2022-23 rise 151 percent

DOHA, QATAR -  New data from Qatar Tourism (QT) revealed that the country welcomed 253,191 cruise visitors during its 2022-23...

Business

CBUAE balance sheet rises to US$172bn at end of April 2023

ABU DHABI, UAE -  The Central Bank of the UAE's (CBUAE) balance sheet grew by 6.3 percent on a monthly...

Business
Geostrategy

Oman discusses green energy with Belgium

Oman already has a roadmap ready for a green economy, one which it discussed with the UNEP earlier this month.
  • The meeting reviewed aspects of joint cooperation between the two countries and means of enhancing them
  • The two sides also touched upon means of completing the agreements that boost partnership
Business

ADNOC Drilling IPO raises $1.1bn

The UAE's state oil giant will be listed on ADX on October 3.
  • ADNOC said the offering was oversubscribed 31 times, with significant demand from UAE Retail Investors and Qualified Institutional Investors.
  • Upon listing on the ADX, ADNOC will continue to own a majority 84 percent stake in the Company.
Business

PIF acquires 25 percent stake in EEC

Under the deal, EEC transferred part of its loan to PIF in exchange for company shares.
  • Under the deal, EEC transferred part of its loan - worth $755 million- from the Ministry of Finance to the PIF in exchange for company shares.
  • PIF believes that the transaction will also accelerate the development of EEC by establishing King Abdullah Economic City.
Geostrategy

Turkey to buy more defense systems from Russia

Turkey still intends to buy a second batch of S-400 missile defense systems from Russia, its president has said.
  • The United States imposed sanctions on Turkey's Defense Industry Directorate and its chief following the acquisition of the first S-400s
  • Washington has repeatedly said acquisition of this second batch would almost certainly trigger new sanctions
Business

Sharjah, Saudi Arabia discuss real-estate investment

The discussions took place between the Sharjah Chamber of Commerce and Industry and the National Real Estate Committee of the...
  • The meeting witnessed recommendations that centered on coordination to organize a joint real-estate event during ACRES 2022
  • The two parties also discussed prospects for cooperation and bilateral partnerships in various fields in the real-estate sector
Geostrategy

Encrypted messaging app Signal hit by late Sunday outage

San Francisco: Encrypted instant messaging app Signal was hit by an outage late Sunday that interrupted services on the platform....
  • Internet outage monitor DownDetector said users began reporting network problems late Sunday.
  • Signal saw a surge in downloads earlier this year after WhatsApp tweaked its terms of service and sparked privacy concerns.
Business

Iraqi Kurdistan seeks to attract Turkish investors as gateway to wider markets

DUBAI: Iraq's Kurdistan is a gateway for Turkish firms to explore the wider Iraqi market, President Nechirvan Barzani said as...
  • The semi-autonomous region is a gateway for Turkish firms to explore the wider Iraqi market, says president Nechirvan Barzani.
  • Iraq is among Turkey's largest markets for exports, which reached $1.9 billion in 2020.
Arts & Culture

Riyadh Season 2021 has ‘big surprises’ in store

The event featuring concerts, theater performances, wrestling matches aims at making the Saudi capital a tourism entertainment destination.
  • This year's slogan is #Imagine_More, as its events will be held in an area of 5.4 million square meters.
  • The event is also an opportunity to showcase the outcome of several national goals, such as raising the level of the entertainment industry sector.
Infographics

Banks rule GCC in market capitalization

Banking firms in the Arabian Gulf countries dominate the list of top companies in terms of market capitalization with Saudi...
  • Al Rajhi Bank's market capitalization stands at $80.65 billion
  • In energy sector, Saudi Aramco is much ahead of others with $1.86 trillion
Economy

Egypt to tax social media stars earning more than $32,000 annually

Egypt said it will tax social media content creators in a revenue raising exercise as more citizens look to online...
  • The tax authority said "YouTubers and bloggers" earning over 500,000 pounds ($32,000) annually would be taxed
  • Social media was awash with comments after the taxation move

Cruise visitors to Qatar in 2022-23 rise 151 percent

DOHA, QATAR -  New data from Qatar Tourism (QT) revealed that the country welcomed 253,191 cruise visitors during its 2022-23...
Business

Company News

Latest News

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...
Geostrategy

High-level UAE economic delegation visits Georgia

A UAE economic delegation led by Minister of State Ahmed Ali Al Sayegh visited Tbilisi, Georgia.
Geostrategy

UAE’s TDRA becomes member of global body EFQM

UAE's Telecommunications and Digital Government Regulatory Authority (TDRA) has announced that it has become a member of the European Foundation...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

New PPP law will help UAE achieve competitive economy: Massimo Falcioni

PPPs boost efficiency, increase transparency in funds management, simplify processes that have cost implications, and integrate technologies, said ECI CEO
  • PPPs boost efficiency, increase transparency in funds management, simplify processes that have cost implications, and integrate technologies, said ECI CEO
  • ECI, Falcioni added, has partnered with private companies and government institutions to enhance public infrastructures in and outside the UAE
Business

Dubai looks to raise $817m from IPO of Salik Company

Dubai is looking to raise $817 million in the initial public offering of Salik. It is selling 1.5 billion shares...
  • All shares to be offered shall represent the sale of existing shares held by the Government of Dubai
  • The CEO of Salik believes the growth of the city is in tandem with the growth of Salik, and this offering represents an exciting opportunity for investors
Geostrategy

GCC countries hail national reconciliation in Sri Lanka

Abdulmohsen bin Khuthaila in his speech on the sidelines of an official debate on human rights in Geneva, said that...
  • Abdulmohsen bin Khuthaila in his speech on the sidelines of an official debate on human rights in Geneva, said that the GCC backs all open and effective dialogue in Sri Lanka
  • Addressing the 51st session of the Human Rights Council, Khuthaila also stressed that enhancing human rights is a collective responsibility