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.

Gross national income of GCC countries hits $2.143 trillion

Muscat, Oman -- The latest data released by the Statistical Centre for the Cooperation Council for the Arab Countries of...

Economy

24 Dubai real-estate projects worth $1.22bn completed in H1

Dubai, UAE -- The first half of 2025 saw the completion of 24 real estate projects valued at AED 4.5...

Business
Business

UAE records fastest growth rate in 10 years, says economy minister

Abu Dhabi, UAE - UAE's Minister of Economy Abdullah bin Touq Al Marri said Wednesday that in 2022, the UAE...
  • The country is implementing comprehensive economic initiatives to increase the capacity of the national business environment to attract capital.
  • The UAE has utilized advanced technologies to develop capacities and meet the growing demand in these sectors.
Business

Yahsat 2022 revenue up 6%

The company recorded a revenue of $433 million for 2022.
  • For the twelve-month period, Yahsat delivered growth in revenue and adjusted EBITDA, which increased 6 percent and 7 percent respectively year-on-year.
  • Other highlights include Adjusted EBITDA of AED946 million ($258 million), up 7 percent year-on-year, delivering a margin of 60 percent.
Economy

Khalifa Fund announces winner of CEO Program

ABU DHABI, UAE - Khalifa Fund for Enterprise Development, in partnership with the Abu Dhabi Department of Economic Development (ADDED)...
  • The CEO program is a rigorous nine-month program that aimed to cultivate entrepreneurship and innovation skills.
  • The program also helps build and grow ag-food tech ventures and contribute to the UAE's Food Security Strategy.
Business

RAKEZ supports F&B industry investors to set up, expand in UAE

RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) is participating in the Gulfood exhibition to showcase its...
  • With an aim to promote the F&B industry, RAKEZ regularly participates in the annual Gulfood exhibitions.
  • RAKEZ supports investors to gain a foothold in the local, regional and global markets through its business ecosystem.
Business

Amwaj merges with Shaqab, Atyab

Qatar-based Gulf International Service has successfully accomplished the merger.
  • The merger is an all-share combination of Amwaj with in-kind contribution from two new incumbent strategic merging shareholders
  • New strategic shareholders of Amwaj along with GIS have jointly agreed to make the Merger's effective date as the Jan. 1, 2023
Business

Emirates Steel Arkan 2022 profit $138.44m

Revenue in fourth quarter of 2022 was $630m.
  • The Group’s net profit for the full year 2022 was AED508.5 million compared to a pro-forma loss of AED636.7 million in financial year (FY) 2021.
  • The Group’s 4Q22 EBITDA was AED300 million, showing a continuing growth on the AED269 million achieved in the third quarter (3Q) of 2022.
Business

CBUAE unveils FIT program to promote digital transactions

Dubai, UAE---The Central Bank of UAE Sunday launched Financial Infrastructure Transformation Program (FIT program) to accelerate the digital transformation in...
  • In a statement, the bank said the FIT is a step towards enabling the CBUAE to be among the top central banks globally.
  • As part of the FIT Program, the CBUAE will strengthen its digital leadership by adopting advanced supervisory technologies and data management solutions.
Business

International Defense Conference 2023 to begin in Abu Dhabi

Abu Dhabi, UAE - The International Defense Conference 2023 will be held on 19th February at the ADNOC Business Centre...
  • The event will shed light on the rapid development of artificial intelligence and advanced technologies.
  • The previous edition of IDC was held in 2021, brought together 24 international experts, over 400 on-ground participants.
Geostrategy

UAE and Japan to boost collaboration in skill development

The two sides reaffirmed their keenness to advance bilateral cooperation in the fields of human resources and skill development.
  • The two sides reaffirmed their keenness to advance bilateral cooperation in the fields of human resources.
  • The meeting also reviewed the legislation and procedures regulating the UAE labor market.
Science

DEWA cleans beach, plants mangrove as  part of 26th National Environment Day

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) participated in a campaign to clean the beach and plant mangroves...
  • DEWA organized virtual environmental lectures in Arabic and English, in cooperation with Dubai Municipality.
  • More than 250 DEWA employees and their families participated in the event.

Gross national income of GCC countries hits $2.143 trillion

Muscat, Oman -- The latest data released by the Statistical Centre for the Cooperation Council for the Arab Countries of...
Economy

Company News

SALIC to set up storage center

Bahri, stc sign logistics deal

Raydan posts loss of $6m in H1

KHC’s profit vaults by 1,162%

Palms Sports wins its biggest contract

Latest News

Burjeel Holdings net profit up

The company’s 2023 annual revenue rises to US$1.2 billion.
Business

Over 105m people visit Dubai Mall in 2023

DUBAI, UAE – Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19 percent on...
Business

Saudi Arabia’s Purchasing Manager’s Index rises to 57.2 points in Feb

RIYADH, SAUDI ARABIA - The seasonally adjusted Riyadh Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Zain KSA net profit $335m

The company's fourth-quarter net profit was $78 million.
  • The telecom services provider said its revenue rose 8.9 percent year-on-year (YoY) to an all-time high of SAR 9.9 billion in 2023.
  • Gross profit increased 10 percent YoY. Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached SAR 2.97 billion.
Geostrategy

OIC to hold extraordinary meeting on Israeli aggression on March 5

Jeddah, Saudi Arabia - The Organization of Islamic Cooperation (OIC) will hold an extraordinary meeting of its Council of Foreign...
  • OIC Secretary-General Hissein Brahim Taha is expected to address the opening session, which will be preceded by a preparatory senior officials' meeting
  • On October 11, 2023, Saudi Arabia hosted the extraordinary Joint Arab and Islamic Summit in Riyadh, organized by the OIC and the Arab League
Business

ADIB 2023 net profit $1.4bn

The bank achieved a Return on Equity of 27.1 percent.
  • ADIB achieved record-breaking performance in 2023, with significant growth across all its businesses.
  • Enhancing its digital presence, the bank saw a rise in actively digital customers through improvements to its mobile app.