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.

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

Sheikh Mohammed inaugurates 5th phase of Mohammed bin Rashid Al Maktoum Solar Park

DUBAI, UAE -  Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of...

Business
Business

PwC Middle East to hire 6,000 staff in five years

PricewaterhouseCoopers (PwC) Middle East intends to build its largest headquarters in Riyadh, and hire more than 6,000 staff across the...
  • PwC predicts its Saudi HQ will attract other global firms to the Kingdom
  • Location will be decided in the next two years
Economy

UAE Central Bank to do away with Covid stimulus measures

The Central Bank of the United Arab Emirates has decided to gradually do away with all the stimulus measures introduced...
  • To leave lower reserve requirements for banks unchanged
  • The liquidity in the banking system and banks’ capital buffers remained adequate
Business

EDB, Emirates NBD sign MoU to guarantee credit for SMEs

The program will focus on sectors such as manufacturing, healthcare, infrastructure, food security, and technology.
  • As part of the MoU, EDB will give financing guarantee coverage of up to 50 percent of the amount lent to SME customers by Emirates NBD
  • This will be a maximum of AED5 million (around $1.36 million) for larger SMEs and up to AED500,000 (around $136,000) for smaller customers
Business

UAE, China discuss strategic ties, common concerns

The two countries also reviewed bilateral partnership and cooperation in confronting the Covid-19 pandemic.
  • Sheikh Abdullah bin Zayed Al Nahyan, the Minister of Foreign Affairs and International Cooperation attended the discussions for the UAE
  • He spoke on the phone with Wang Yi, State Councilor and Foreign Minister of China
Business

Innovation, partnerships put Dubai at forefront of financial markets: Analysis

DUBAI: Innovative initiatives and partnerships along with a series of regulatory reforms have placed the financial markets industry in Dubai...
  • Dubai Competitiveness Office cited DIFC's example, which was ranked amongst the top 15 global financial centers consistently.
  • Financial market ecosystem in the emirate is well-positioned to enable capital flows.
Business

Saudi Arabia reaches out to France for stronger economic ties

The move aims to further enhance bilateral investment relations by making use of the opportunities offered by Saudi Vision 2030.
  • The Minister of Investment of Saudi Arabia, Khalid bin Abdulaziz Al-Falih, is on an official visit to France
  • He is accompanied by a high-level Saudi delegation from government agencies, national companies, and representatives of the private sector
Business

MDC BMS to utilize MoniMove platform in partnership with Crediti Fintech

DUBAI: MDC Business Management Services (MDC BMS), a Mubadala company, will partner with Crediti Fintech to utilize the MoniMove platform...
  • With the platform, MDC BMS will examine how to seamlessly digitize and govern clients’ supply chain transactions.
  • Suppliers are likely to benefit from supply chain finance services, advanced digital delivery tracking and live site inspection tools.
Business

Saudi telecom firm stc gets higher rating from Moody’s for ‘strong financial metrics’

Moody’s, the bond credit rating firm, has upgraded the Baseline Credit Assessment (BCA) of Saudi Arabia’s stc, saying it has...
  • The telecom company’s BCA was revised from a1 to a2, and Moody’s also affirmed its A1 long-term issuer rating
  • 'The upgrade reflects stc's leading position in the Saudi telecom sector, which has considerable growth opportunities'
Arts & Culture

Expo 2020: AR Rahman introduces Firdaus Orchestra

A total of 50 musicians — aged between 16 and 51 — from 23 countries in the region have come...
  • The Firdaus Orchestra will perform at concerts at Expo 2020 Dubai
  • The concerts will feature works composed by Rahman for the orchestra’s inaugural performance
Business

Pact signed for setting up incubator to support SMEs in Oman

DUBAI: An incubator to support Small and Medium Enterprises in Oman will be established by Oman’s Authority for Small and...
  • The incubator will be specialized in the logistics sector, supply chains, and services affiliated with the Public Authority for Special Economic Zones and Free Zones.
  • A pact was signed between Oman’s Authority for Small and Medium Enterprises Development (Asmed) and Oman Drydock Company in this regard.

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

Company News

Latest News

Costa Rica-UAE bilateral trade up by 292 percent since 2017: Minister

Abu Dhabi, UAE--Costa Rica's foreign minister Arnoldo Andre has said that the trade between his country and the UAE has...
Business

27,100 new companies join Dubai Chamber of Commerce till Aug 2022

Dubai, UAE-- More than 27,100 companies have joined as new members of the Dubai Chamber of Commerce in the first eight...
Business

Egypt adopting Russian Mir payment system to boost tourism, trade

The Central Bank of Egypt in cooperation with the Egyptian Ministry of Finance, will allow banks across Egypt to access...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Jordan king discusses ties with US congressional delegation

The meeting, attended by Crown Prince Al Hussein bin Abdullah II, covered bilateral ties and the strategic partnership between Jordan...
  • The meeting, attended by Crown Prince Al Hussein bin Abdullah II, covered bilateral ties and the strategic partnership between Jordan and the United States
  • The US lawmakers stressed the United States’ keenness to bolster cooperation with the Kingdom and to continue supporting it
Business

Siemens bags Egypt project

The company will upgrade power distribution system in Alexandria.
  • Implementing advanced software solutions and automation devices will help Alexandria Electricity Distribution Company increase efficiency.
  • A total of 300,000 smart meters will be supplied, including the necessary hardware and software to establish an advanced metering infrastructure.
Geostrategy

UAE, Serbian Presidents discuss bilateral relations

UAE President Sheikh Mohamed bin Zayed Al Nahyan discussed with Aleksandar Vucic, President of Serbia, cooperation between their countries and...
  • The two leaders discussed a number of regional and global issues and developments of mutual concern.
  • The two leaders explored UAE-Serbia cooperation in investment, economic, trade, science, technology, food security, agriculture, among others.