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.

DMCC to open office in Mumbai for Indian firms to expand through Dubai

Leveraging DMCC’s strong regulatory framework and reputation within Indian business circles, the office will provide a one-stop solution for Indian...

Business

UN says over 700,000 displaced within Sudan since beginning of conflict

Heavy fighting in Sudan has displaced 700,000 people within the country since the middle of April, the United Nations said,...

Geostrategy
Business

Saudi banks net profit up to $2.94bn in Q2

In a sign of economic rebound in Saudi Arabia, banks in the kingdom are reporting better than expected financial results...
  • In the second quarter of 2021, Saudi banks reported a net profit of $2.94 billion
  • The Saudi British Bank (SABB) saw the highest growth among nine Saudi banks that reported a rise in their quarterly incomes
Geostrategy

UAE sends 300,000 COVID-19 vaccine doses to Comoros

An aircraft loaded with the supplies, which also included 600,000 injection needles, left the UAE for Comoros on Tuesday.
  • With a population of nearly 890,000, Comoros has seen 4,031 cases of Covid-19 infection
  • A total of 147 of these infections resulted in death, most of them in January-February this year
Geostrategy

Facebook bins anti-vaccine campaign

Influencers who caught onto the sham turned out to be the undoing of a deceitful influence campaign orchestrated by marketing...
  • The company said it removed 65 Facebook accounts in July and 243 accounts at Instagram that were linked to the campaign.
  • Anti-vaccine campaign targeted primarily India and Latin America, but also took aim at the United States.
Economy

Saudi Arabia issues record 478 licenses in first quarter

Following a 2018 reform in the Kingdom that allowed for a first time the 100 percent foreign ownership of companies,...
  • In none of the quarters since 2005 has such a number of licenses been issued, according to Saudi investment ministry.
  • Manufacturing sector accounted for the bulk (114) of new licenses issued followed by e-commerce and construction (78 each).
Geostrategy

MENA connectedness ranking rising: Survey

The UAE is the highest ranked in the region, and the fourth country globally, in terms of overall global connectedness.
  • Ranks third among the world’s seven regions and is well above the global average.
  • UAE is the highest ranked in the region, and the fourth country globally, in terms of overall global connectedness.
Business

ADNOC Distribution H1 net profit $313m

Higher fuel volumes, improvement in non-fuel and commercial gross profit margin and increased operational efficiencies made in the first half...
  • The company’s fuel volumes saw progressive recovery towards pre-COVID-19 levels.
  • In H1 2021, the company received no objection certificates from the Saudi General Authority for Competition to acquire 35 stations in the kingdom.
Business

Emaar Malls net profit leaps to $169m in H1

The owner of Dubai Mall attributes 80 percent jump in net to recovery in retail sector.
  • Mall operator reports higher visitor spends, online sales
  • Net profit for January to June 2021 reached 622 million dirhams ($169 million), registering an 80 percent increase

Dubai exports, re-exports to West Africa rise by 42% during H1

Nigeria was the largest West African export market for member companies, accounting for a 32 percent share of the value...
  • Plastics accounted for 31 percent of exports, followed by electrical machinery/electronics (14 percent)
  • Commodities with the highest untapped potential for export and re-export include polyethylene, sugar cane and rice, trigger batteries.
Geostrategy

Lebanon migrant workers need ‘urgent’ help

78 percent of the country's population lives in poverty, higher than last year's figure of 55 percent.
  • 78 percent of the country's population lives in poverty, higher than last year's figure of 55 percent.
  • Many migrant workers want to leave but they have no means to do, says UN.
Economy

Saudi industrial production rises to 11.9 percent

Saudi Arabia has reported a sharp rise in its Industrial Production Index (IPI) to 11.9 percent in June 2021 from...
  • The increase resulted Increase mainly from mining and quarrying, which gained 19.3 percent
  • Oil production rose from 7.4 million bpd in June 2020 to 8.9 million bpd in June 2021

DMCC to open office in Mumbai for Indian firms to expand through Dubai

Leveraging DMCC’s strong regulatory framework and reputation within Indian business circles, the office will provide a one-stop solution for Indian...
Business

Company News

Latest News

Jordan approves Public Sector Modernization roadmap

Addressing the Cabinet session, Prime Minister Dr Khasawneh affirmed the government's commitment to achieving the desired outcomes from the modernization...
Economy

Egypt’s GDP grows 6.6% in FY 2022: PM Madbouli

The last quarter of the past fiscal year was really difficult due to the Russia-Ukraine war.
Economy

Maaden to supply phosphate, ammonia to four Indian firms

The Saudi Arabian Mining Company, Maaden, Thursday signed four memoranda of understanding with Indian fertilizer companies to supply phosphate and...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Bahri, stc sign logistics deal

Customs clearance assistance is part of the agreement.
  • The stc group has operations in Saudi Arabia, Kuwait, Bahrain, and Oman.
  • The contract was signed by Soror Basalom, President of Bahri Logistics and Ali Alhudhayf, Acting VP of Human Resources and Logistics Support at channels by stc.
Business

Abu Dhabi to launch blockchain, virtual assets strategy

The Abu Dhabi Blockchain and Virtual Assets Committee (ADBVAC) held its first meeting under the chairmanship of Mohamed Ali Al...
  • The Abu Dhabi Blockchain and Virtual Assets Committee has been formed to look into various aspects of the field
  • The committee comprises representatives of major entities and stakeholders active in this field
Economy

ENEC hosts top performing students from Al Dhafra region

The Emirates Nuclear Energy Corporation (ENEC) has hosted a recognition ceremony at the Barakah plant for top-performing students from the...
  • The hosting of students reflects ENEC's stand to provide UAE youth with skills to become future leaders of the nation's growing nuclear energy sector.
  • The event include an educational tour for students to visit Barakah Plant, the first multi-unit operational nuclear plant in the Arab World.