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.

UAE exports to reach $544bn by 2030, says Standard Chartered report

DUBAI, UAE -  The UAE is poised to play a pivotal role in global trade with its exports projected to...

Economy

Sharjah group to discuss trade boost with India in five-day trip

SHARJAH, UAE- The Sharjah Chamber of Commerce and Industry (SCCI) will embark on a trade mission to India on Monday...

Business
Geostrategy

EU ready to cooperate with Iran

EU Foreign Policy Chief Josep Borrell had a conversation with Iranian Foreign Minister Hossein Amir-Abdollahian in this regard.
  • The EU urged Iran to set date for the next meeting on nuclear talks in Vienna
  • The participation of an EU representative in the Iranian president’s inauguration ceremony showed EU determination

SRMG taps Japanese firms

It has struck a content deal with Japanese publishing houses.
  • The partnership will enable SRMG to establish official channels with Shogakukan, Shueisha, and Kadokawa
  • This will let it adapt and localize global content for Arab audiences
Business

Saudi banks cheer recovery with surge in loans

Driven by an increase in net loans and return on equity in the second quarter, Saudi Arabian banks are sitting...
  • Saudi lenders increased their loan books by a net 13.1 percent from the previous three months
  • Average return on equity was 11.0 percent
Business

More women in EGA management

EGA plans to have women in 25% of its supervisory roles.
  • Two members of EGA’s Executive Committee are women
  • EGA also employs more than 400 women around the world
Business

Obhur Bay, the go-to spot for pleasure seekers

To beat the sizzling summer heat, Obhur Bay is a go-to destination for many in Saudi Arabia. It is a...
  • Surfing takes on a unique characteristic in the bay, as, in order for people to safely enjoy the sport, they are required to be highly skilled in terms of guiding the board
  • Boat and jet ski competitions are also held throughout the year, and many resorts and hotels are found along the 11-km-long bay
Science

UAE begins Unit 2 of Barakah Nuclear Power Plant

The United Arab Emirates has unveiled Unit 2 of the Barakah Nuclear Energy plant, located in Abu Dhabi’s Al Dhafra...
  • Unit 2 will be connected to the national electricity grid in the coming months
  • When fully operational, the four units of the plant will produce 5.6 GW of electricity while preventing the release of more than 21 million tons of carbon emissions every year
Business

Plot of land on Red Sea sells for $352.7m

In one of the largest real estate deals in Jeddah this year, the Saudi Oger Company's "Arjuwan Red Sea Project"...
  • The value of the endeavor amounted to more than $9.52mln for the land exceeding 281,000 sqm in a privileged location in the Alshatei district
  • The Arjuwan Red Sea Project is one of the most promising and ambitious real estate projects in Jeddah
Business

Oman sets terms for top hotels to open event halls

Four and five-star hotels in Oman may open meeting and celebration halls, but must follow certain restrictions.
  • Celebration and meeting halls in top hotels can function with a maximum of 35 percent capacity
  • The hotels would have to allow entry to only those fully immunized with vaccines approved Oman
Economy

Jadwa says Saudi economy to fare better

Saudi economy may perform better this year than forecast earlier with the continual recovery of the non-oil industry from the...
  • Jadwa predicts growth of 1.8 percent, revising previous estimate of 1.3 percent
  • Non-oil private sector growth seen at 4.4 percent
Business

Lebanon taps Dubai’s ENOC for fuel swap

Lebanon is expected to use ENOC’s fuel to generate electricity, as the Iraqi oil is deemed unsuitable for the process.
  • As part of the deal, Lebanon will give ENOC 84,000 tons of Iraqi high-sulfur fuel oil
  • In return, the country will receive 30,000 tons of Grade B fuel oil and 33,000 tons of gasoil

UAE exports to reach $544bn by 2030, says Standard Chartered report

DUBAI, UAE -  The UAE is poised to play a pivotal role in global trade with its exports projected to...
Economy

Company News

Latest News

ADNOC’s first shipment of low-carbon ammonia leaves for Germany

Abu Dhabi, UAE:  Abu Dhabi National Oil Company (ADNOC) announced on Thursday that its first shipment of low-carbon ammonia has...
Business

Markets volatile, world economy likely to grow 3.2% in 2022

As the world economy struggles to recover from the after-effects of the pandemic, financial markets are more volatile than ever.
Business

UAE calls for global solidarity at environment ministers meet

UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri participated in the Joint Environment and Climate Ministers’...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Saudi Central Bank updates its Regulatory Sandbox Framework

The bank took this step to promote the Regulatory Sandbox's involvement in the Financial Sector Development Program (FSDP), one of...
  • The bank took this step to promote the Regulatory Sandbox's involvement in the Financial Sector Development Program (FSDP), one of the key objectives of the Saudi Vision 2030
  • The Central Bank pointed out that the updated framework of the Regulatory Sandbox is open for both local and international applicants
Business

Taiba gives hotel contract to ACC

ACC won the $115m contract to build a hotel in Madinah.
  • The hotel will feature two towers connected by a bridge at the upper level with public and dining areas
  • Taiba posted a profit of $14.97 million during H1 of 2022, wiping out losses of $4.02 million for the same period of last year

CBUAE says gross banks’ assets vault to $939bn in June

The growth in total bank deposits was due to the rise in resident deposits by 2.6% and non-resident deposits by...
  • The apex bank said that gross credit grew from $507.93 billion in May 2022 to $508.12 billion in June 2022
  • Total bank deposits increased by 2.5%, climbing from $555.61 billion in May 2022 to $569.61 billion in June 2022