INSEAD Day 4 - 728x90

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

Zawiya 97: New cultural hub for handicrafts in historic Jeddah

Jeddah - Zawiya 97, a new cultural hub for handicrafts in Historic Jeddah, located next to Nassif House, combines heritage...

Arts & Culture

Creators HQ attracts 2,415 active members from 147 countries with combined following of over 2 billion

Dubai, UAE – Creators HQ, the first headquarters for content creators in the UAE and the Middle East, has seen...

Economy
Business

UAE ministry hosts discussion on poultry industry, food security

DUBAI, UAE -  UAE Ministry of Climate Change and the Environment (MOCCAE) on Tuesday organized the second National Dialogue for...
  • The National Dialogue for Food Security, organized by MOCCAE, aims to discuss topics that contribute to enhance food security for UAE.
  • The dialogue was also attended by poultry industry experts and representatives of various federal and local government entities.
Business

Alcoa, EGA ink supply pact

Alcoa is now EGA's largest third-party supplier of alumina.
  • The agreement, spanning eight years starting in 2024, includes options that enable EGA to procure up to 15.6 million metric tonnes of alumina.
  • The pact is the largest alumina supply contract ever signed between the two firms and is one of the largest in the industry, said Alcoa CEO Roy Harvey.
Business

Khalifa Fund partners with Wio Bank

Wio will offer Khalifa members full digital account onboarding.
  • The two entities aim to empower SMEs, entrepreneurs and freelancers in Abu Dhabi and the UAE with business banking tools and financial solutions.
  • Wio Business will be extending a special promotion of a three-month free subscription plan to over 3,600 members and portfolio companies of Khalifa Fund.
Business

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...
  • DMCC aims to boost the relationship between the UAE and India in support of the UAE-India Comprehensive Economic Partnership Agreement (CEPA).
  • Trade between the UAE and India surged 14 percent after the two countries signed CEPA in 2022.
Business

India Jewelry Exposition Center launches in Dubai

DUBAI, UAE -  The Gem and Jewelry Export Promotion Council (GJEPC) has launched a first-of-its-kind India Jewelry Exposition Center (IJEX)...
  • India Jewelry Exposition Center will provide a platform for the country's MSMEs to showcase their products to the Middle East market.
  • The move is a reflection of the Middle East's importance to India's gem and jewelry sector which accounts for 30 percent of its exports.
Economy

WEF meet to shed light on global economic transformation

Geneva, Switzerland - The 14th World Economic Forum (WEF) Annual Meeting of the New Champions is scheduled to take place...
  • The meeting will tackle key issues concerning global companies and create and strengthen partnerships focusing on generating a positive impact.
  • More than 1,500 leaders from business, government, and other global firms, along with innovators and academics, are expected to participate.
Business

ICIEC inks deal with SNB

ICIEC is world's only multilateral Islamic insurance firm.
  • DCIP is a non-payment insurance policy against the default of issuing banks to meet their obligations under an irrevocable letter of credit.
  • DCIP supports the potential of SNB to provide confirmation lines to various issuing banks in Saudi Arabia or ICIEC member states.
Science

Masdar, IRENA ink pact on tripling global renewable energy capacity by 2030

ABU DHABI, UAE - Masdar has signed an agreement with the International Renewable Energy Agency (IRENA) to cooperate on a...
  • The main objective of the project is to establish a global baseline for renewable energy.
  • The project will also highlight the challenges faced by different regions in meeting their renewable energy ambitions.
Geostrategy

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,...
  • Even before the beginning of the fighting, 3.7 million people were registered as internally displaced in Sudan.
  • Another 150,000 people have fled Sudan since the beginning of the conflict, as per numbers released by the UN refugee agency.
Business

Fertiglobe Q1 net profit $135m

The company posted Q1 revenue of US$694 million.
  • Fertiglobe reported free cash flow of $271 million in the first quarter.
  • The firm continues to have a strong order book for the coming months.

Zawiya 97: New cultural hub for handicrafts in historic Jeddah

Jeddah - Zawiya 97, a new cultural hub for handicrafts in Historic Jeddah, located next to Nassif House, combines heritage...
Arts & Culture

Company News

Al-Ittefaq plans an IPO

AD Ports ups stake in Egypt firms

Wio launches in UAE

PIF to buy stake in Seera

Tabreed okays 100% foreign ownership

Latest News

Dubai partners with 9 developers to bolster Real Estate Program

Dubai, UAE -- The Dubai Land Department (DLD) has embarked on the first phase of a series of strategic partnerships...
Business

GASTAT issues FDI statistics of Saudi Arabia for Q4 2023

RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) issued on Friday the Foreign Direct Investment (FDI) statistics for...
Economy

Gulf nations embark on defense industry localization

Saudi Arabia leads GCC efforts towards defense self-reliance by creating the first military industries committee, aiming to reduce foreign imports...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Arts & Culture

SeaWorld Yas Island, Abu Dhabi wins Guinness World Records

ABU DHABI, UAE – SeaWorld Yas Island - the region’s first Marine Life Theme Park here -, has won a...
  • SeaWorld Yas Island has won the Guinness World Records for being the “Largest Indoor Marine-Life Theme Park” in the world.
  • The certificate was presented to Mohamed Abdalla Al Zaabi, Group CEO of Miral, and the SeaWorld Abu Dhabi leadership.
Business

ESA, SAP ink agreement

ESA will consolidate operations under a single ERP solution
  • ESA will benefit from a streamlined and integrated system, improving visibility and control over all of its operations.
  • ESA will be using an integrated supply chain model that eliminates process silos, predicts disruptions.
Business

CATRION 2023 profit up 10%

The company said that net profit, however, dropped 35% in Q4.
  • The company' board has announced a cash dividend of SAR90 million for the second half of 2023.
  • The company's revenue increased from SAR 1.818 billion in 2022 to SAR 2.133 billion in 2023, due to the inflight catering segment as well as non-aviation catering services.