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.

Mubadala invests $200m in Bicycle Capital

Bicycle Capital is a growth equity firm focusing on startups.

Business

Initiative by Digital Economy Chamber to help firms set up in Dubai

DUBAI,  UAE -  Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has announced a...

Business
Business

Kuwait’s Burgan Bank gets approval to issue $500m senior bonds

Kuwait's Burgan Bank has been allowed to issue up to $500 million senior unsecured bonds under its Euro Medium Term...
  • The bank said the proceeds from the bond issuance will help it reinforce its long-term liquidity.
  • The bonds will have either a five-year tenor and a fixed coupon, or a six-year tenor with redeem option.
Economy

Dubai 11th popular city for investment visa programs, second for Covid safety

Henley & Partners’ Best Residence-by-Investment Cities for Business Index ranks cities according to lifestyle, tax, education, real estate, healthcare, security,...
  • Dubai scored highest overall in the index in the tax category.
  • The emirate was second on the index for Covid-19 safety.
Business

UAE’s non-oil trade weathers pandemic to reach $371 billion in 2020

DUBAI: The UAE's non-oil trade rose to AED 1.403 trillion ($371 billion), reflecting the country's robust trade exchanges despite the...
  • Imports have hit AED 785 billion, accounting for 56 percent of total merchandise trade.
  • China was UAE's main trading partner with the bilateral trade value reaching AED174 bn.
Business

ACWA Power of Saudi Arabia aims to raise $1.2bn through IPO

ACWA Power of Saudi Arabia intends to raise nearly $1.2 billion through Initial Public Offering (IPO), and in this regard...
  •  The listing will value ACWA at up to $11 billion – making it the biggest offering in Riyadh since Saudi Aramco’s listi
  • The firm has 64 projects in 13 countries, representing a value of $248 billion
Investigation

Saudi gang gets 20 years in prison for laundering $4.5bn

A Saudi court sentenced twenty four Saudis and foreigners to up to 20 years in prison for laundering nearly $4.50...
  • Group of 24 Saudis and expats channelled illicit funds through factories, companies, institutions and medical clinics
  • The court said the group carried out their criminal operations within an organized framework, under the cover of commercial facilities
Economy

Lebanon to order central bank forensic audit soon

Lebanon's outgoing finance minister Ghazi Wazni has told reporters that auditing firm Alvarez & Marsal would be signed on within...
  • Central bank governor Riad Salameh is already under the scanner for his alleged role in Lebanon’s economic crisis
  • The former Merryll-Lynch banker is also being investigated by French authorities over money-laundering charges
Business

GII of Dubai to pick stake in Saudi healthcare firm for $600m

Gulf Islamic Investments (GII) of Dubai is looking to pick up a stake in a Saudi healthcare company for $600...
  • The UAE-based financial services firm plans $1bln expansion in the Kingdom
  • 'We have a lot of faith in Saudi,' says the company’s co-founder Mohammed Alhassan
Economy

Kuwait partners with World Bank for development

The memorandum is said to be in line with Kuwait Vision 2035 and the national development plan 2021-2025.
  • For Kuwait, Finance Minister and Minister of State for Economic and Investment Affairs Khalifa Hamadah signed the memorandum
  • World Bank’s Regional Director for Saudi Arabia and the Arab Gulf Countries, Esam Abo-Sulaiman was the co-signatory
Business

Oman discusses investments, economic ties with Austria

The meeting was held on Monday at the premises of the OCCI in Muscat.
  • The Oman Chamber of Commerce and Industry has had a meeting with a visiting Austrian delegation
  • They discussed ways of upgrading economic cooperation and establishing joint investments
Business

Shipping industry evades gloom, makes big money

The pandemic might have battered other sectors of the world economy, but the shipping industry has raked in revenues not...
  • Jump in earnings has been caused due to a 333% hike in shipping cost
  • The hike in cargo charges, however, has raised the specter of inflation around the globe

Mubadala invests $200m in Bicycle Capital

Bicycle Capital is a growth equity firm focusing on startups.
Business

Company News

Latest News

Four Saudi universities among top 100 international universities

King Abdulaziz University achieved 4th place globally with 187 patents in one year.

Riyad Bank to offer sukuk

The bank offering will be denominated in Saudi riyals.
Business

UN says Iran can make a nuclear bomb in three weeks

The UN atomic watchdog has warned Iran has enough enriched uranium to make a bomb in three weeks and that...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Market Report

UAE stocks gain US$3bn in Wednesday trade

Abu Dhabi index (FTFADGI) rose 0.566 percent to 9,717.380 pts, with conglomerate International Holding Company (IHC.AD) closing high at AED...
  • Abu Dhabi index (FTFADGI) rose 0.566 percent to 9,717.380 pts, with conglomerate International Holding Company (IHC.AD) closing high at AED 350
  • Among other stocks, the Emirates NBD and Mashreq Bank increased 1.92 percent, and 1.270 percent to AED13.250 and AED80.00 respectively
Economy

Oil and gas sector fuels demand for industrial space in Dubai

Ecommerce operators, who have seen an acceleration in activity post the onset of the pandemic, have further expanded their operations.
  • Ecommerce operators, who have seen an acceleration in activity post the onset of the pandemic, have further expanded their operations
  • Demand during H1 2022 was primarily concentrated across traditional hotspots such as Dubai South, JAFZA and National Industries Park
Business

Khalifa Fund to launch e-commerce program for entrepreneurs

Abu Dhabi, UAE-- Khalifa Fund for Enterprise Development has officially announced the launch of the E-Commerce Acceleration Programme, a training...
  • The programme  aims to help deliver results that impact the entrepreneur's bottom line, generate profit, expand their brand's exposure and improve customer engagement.
  • The five-day training will take place on the 21st, 22nd, 28th, 29th September, and 4th October.