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.

Dubai records US$3.4bn in weekly real estate transactions

DUBAI, UAE - A total of 3,625 real estate and properties transactions valued at US$3.4 billion (AED12.5 billion) were conducted...

Business

ECI, KazakhExport ink MoU

Aim is to enhance trade between the UAE and Kazakhstan.

Business
Business

Dubai-France trade reaches AED8.5 billion in the first half of 2021

DUBAI: The emirate of Dubai sees tourism and exhibition activity returning to normal, with EXPO 2020 around the corner, according...
  • The emirate sees tourism and exhibition activity returning to normal, with EXPO 2020 around the corner, according to DP World chairman.
  • Top commodities included jewelry, perfumes, medical products, textiles and leather.
Business

ADQ to acquire pharma firm

ADQ will acquire Swiss firm Acino from its current shareholders.
  • Switzerland-based Acino is known as a provider of pharmaceuticals
  • Its markets include the Middle East, Africa, Latin America, Russia, Ukraine, and the CIS Region
Economy

Wa’ed to fund first Saudi facility to make oil, gas drilling compound

  Wa'ed, the entrepreneurship arm of Aramco, has approved a plan to finance construction of a factory in Jubail that...
  • The 3.75 million SAR loan to SICCO, a Jubail-based start-up, is part of Wa'ed's strategy of empowering Saudi businesses
  • SICCO plans to make calcium bromide, a clear liquid used to regulate wellbore pressure in onshore and offshore oil and gas wells
Business

Solutions by STC prices IPO at top range

The IPO order book 130 times oversubscribed during the book-building process.
  • The company is set to raise $960m, pricing IPO at 151 riyals per share.
  • The individual investors tranche subscription process will commence on Sunday and ends on Tuesday.
Economy

Dubai to develop digital economy strategy

The action plan is structured around three pillars: enhancing the digital business environment, supporting the development of digital firms and...
  • The plan was devised at a two-day Dubai Digital Economy Retreat which concluded on Wednesday
  • Interactive workshops during the event identified key market issues and challenges, including the need to attract more digital companies and specialised talent to Dubai
Economy

Global economy to grow by 5.3 percent in 2021: UN

But if widening economic gaps between the developed world and the poor countries persists, only a few will enjoy the...
  • Many developing economies are being held back by constraints on fiscal measures, lack of monetary autonomy and limited access to vaccines.
  • By 2025, developing countries will be $12 trillion poorer owing to the pandemic, the report said.
Business

Most EMEA banks fret they would cease to exist unless they digitize fast

Nearly 75 percent of banks expect tech giants such as Google and Amazon to dominate the banking industry in five...
  • The report said only 25 per cent of EMEA-based banks expect to significantly increase spending on Big Data in the next three years.
  • 19 per cent of EMEA-based banks are focused on blockchain investment compared with 30 per cent of banks in North America.
Business

Al Salam Bank buys back shares

The Bahrain’s bank has bought back around 445,000 treasury shares.
  • The bank buys back 445,000 treasury shares on the Dubai Financial Market (DFM) and the Bahrain Bourse
  • The move raises the total holding of the bank’s treasury shares from 109,475,000 to 109,920,000, which is 4.543% of the issued share capital.
Business

UAE’s Elkaso raises $2.1m in pre-seed round

Elkaso, the United Arab Emirates-based company, has raised $2.1 million in a pre-seed round, with Global Founders Capital leading the...
  • UAE-based business-to-business marketplace Elkaso has raised $2.1 million in a pre-seed round
  • The capital injection will be used to expand Elkaso’s team

Lebanon army giving helicopter rides to tourists for money

While most wages in Lebanon have remained unchanged, the value of the Lebanese pound has gone down more than 90...
  • The Lebanese military plans 1,000 hours of helicopter rides for tourists and even Lebanese citizens this year
  • With each ride costing $150, the military is eyeing an influx of $300,000 through this route

Dubai records US$3.4bn in weekly real estate transactions

DUBAI, UAE - A total of 3,625 real estate and properties transactions valued at US$3.4 billion (AED12.5 billion) were conducted...
Business

Company News

Latest News

DEWA programs prepare Emiratis to join the organization

Dubai Electricity and Water Authority is committed to promoting Emiratization in its various divisions by adopting an integrated strategy to...
Business

UAE ranks 1st regionally in UNDP Human Development Report

The UAE has ranked 26th globally and first in the Arab world in the 2021/2022 Human Development Report, which is...
Research

Louvre Abu Dhabi, NYUAD sign collaboration agreement in key areas

Abu Dhabi, UAE -- Louvre Abu Dhabi and New York University Abu Dhabi (NYUAD) signed an MoU to collaborate in areas...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

Future Investment Initiative Institute to hold events in Riyadh, New York

Riyadh, Saudi Arabia-- The Future Investment Initiative Institute said Thursday two of its major events will be held in September...
  • The PRIORITY summit will be held on the sidelines of the 77th session of the UN General Assembly in New York on Sept. 22.
  • Serving as platforms aimed at finding solutions to global issues, the two events will bring together experts and policymakers.

Four Saudi universities among top 100 international universities

King Abdulaziz University achieved 4th place globally with 187 patents in one year.
  • King Abdulaziz University achieved 4th place globally with 187 patents in one year
  • King Fahd University of Petroleum and Minerals achieved 25th place with 91 patents
Business

Riyad Bank to offer sukuk

The bank offering will be denominated in Saudi riyals.
  • Investors, according to the bank, shall subscribe to a minimum of $66,533, with a return rate yet to be determined
  • Riyad Capital will act as the sole lead manager and book runner for the potential Tier 1 capital sukuk offer