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.

GCC countries record $587.8 billion in nominal GDP by end of Q4 2024

Muscat, Oman -- The nominal Gross Domestic Product (GDP) of the Gulf Cooperation Council (GCC) countries reached US$587.8 billion by...

Economy

Dubai real estate transactions exceed $117.34 billion in first half of 2025

The number of new investors in the market reached 59,075, with investments totaling $42.74 billion, a 22 percent increase in...

Business
Geostrategy

Chinese flags flutter in Saudi capital as Xi visits kingdom for first time since 2016

Riyadh, Saudi Arabia---The Saudi capital was bedecked with Chinese flags ahead of President Xi Jinping's visit on Wednesday that is...
  • The red-and-gold Chinese emblem alternated with the green flag of Saudi Arabia along major roads in Riyadh, while Xi was pictured on the front pages of newspapers.
  • China, the world's second-biggest economy, is the top customer for oil from Saudi Arabia, the leading exporter of crude, and both sides appear keen to expand their relationship.
Business

AD Ports Group, Africa Finance Corporation sign collaboration agreement

Abu Dhabi, WAM---AD Ports Group has signed a collaboration agreement with the Africa Finance Corporation (AFC), an infrastructure solutions provider...
  • They will collaborate on identifying, financing, developing and investing in much-needed ports, warehouses, maritime and logistics infrastructure projects across Africa.
  • Both parties will bring their technical expertise and financial capacity and networks to a range of development initiatives, focusing on brownfield and greenfield opportunities.
Economy

CBUAE imposes financial sanction on UAE exchange house

The financial sanction, amounting to AED1,925,000 ($524,166) followed the findings of an examination conducted by the CBUAE.
  • The financial sanction, amounting to AED1,925,000 ($524,166) followed the findings of an examination conducted by the CBUAE
  • The CBUAE, through its supervisory and regulatory mandates, works to ensure that all exchange houses, their owners and staff abide by the UAE laws
Economy

Debt-service payments from IDA’s countries to top $62bn in 2022: World Bank

The report highlights rising debt-related risks for all developing economies - low as well as middle-income economies.
  • The report highlights rising debt-related risks for all developing economies - low as well as middle-income economies
  • Rising interest rates and slowing global growth risk is tipping a large number of countries into debt crises
Economy

S&P Global says Egypt non-oil businesses contract in November

Cairo, Egypt—Egypt’s non-oil businesses have shown a contraction in November, resulting in output falling at the sharpest rate since the...
  • Egypt’s Purchasing Managers’ Index fell from 47.7 in October to 45.4 in November — the second lowest since June 2020.
  • According to S&P Global, Egypt’s purchase price inflation hit a 52-month high, leading 42 percent of surveyed firms to report a rise in total input costs over the month
Economy

Jordan’s ‘New City’ project to create 90,000 jobs: Govt

The project is part of the state's economic vision and aims to accommodate the population increases in Amman and Zarqa.
  • The project is part of the state's economic vision and aims to accommodate the population increases in Amman and Zarqa
  • The goverment hopes to start implementing the project in 2025, ending the first phase in 2033
Economy

Dubai ruler evinces support for global economic growth

Reiterating Dubai's resolve to work in collaboration with its global partners, Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum...
  • He spoke while touring the 43rd edition of the Big 5, the largest and most influential construction event in the Middle East, Africa and South Asia, at the Dubai World Trade Centre
  • More than 2,000 participants from 60 countries are participating in the event, which includes 20 national pavilions
Economy

African Development Fund mobilises $8.9bn for Africa’s low-income countries

ADF is the concessional window of the African Development Bank Group, providing grants and soft loans to the continent’s low-income...
  • ADF is the concessional window of the African Development Bank Group, providing grants and soft loans to the continent’s low-income countries
  • The package includes $8.5 billion in core ADF funding and $429 million for the newly created Climate Action Window
Economy

Workers’ welfare key focus as GCC states strengthen, expand social protection systems, says Saudi minister

The participating Gulf countries highlight labor reforms to ensure protection of workers at the 17th Asia and the Pacific Regional...
  • The participating Gulf countries highlight labor reforms to ensure protection of workers at the 17th Asia and the Pacific Regional Meeting of ILO in Singapore.
  • The event coincided with the release of an ILO survey, which highlighted that one in five workers experienced workplace harassment globally.
Business

ADNOC signs catering deals worth $272m

Four Abu Dhabi firms will provide services to ADNOC companies from 2022-27.
  • More than 50 percent of the value from the four contracts will flow back into the UAE economy, as part of ADNOC’s In-Country Value (ICV) programme, ADNOC said.
  • Royal Catering, Apex National Catering, National Corporation for Tourism & Hotels (NCT&H) and Sodexo Kelvin have been awarded the contracts.

GCC countries record $587.8 billion in nominal GDP by end of Q4 2024

Muscat, Oman -- The nominal Gross Domestic Product (GDP) of the Gulf Cooperation Council (GCC) countries reached US$587.8 billion by...
Economy

Company News

Vodafone Qatar profit up 61%

DIFC unveils wealth center

Yahsat H1 revenue $206m

ADNOC Drilling H1 profit $379mn

SABIC profit surges to $2.1bn

Latest News

Air Arabia 2023 net profit $408m

The firm recorded a 27 percent rise in profit compared to 2022.
Business

solutions by stc, Devoteam ink MoU

The aim is to foster avenues for collaboration in technology.
Business

GPSSA issues circular on pensions, gratuity in UAE

ABU DHABI, UAE – The Emirates General Pension and Social Security Authority (GPSSA) has issued a circular to government and...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

stc Group inks several pacts

The pacts were signed at the PIF’s Private Sector Forum.
  • The annual Private Sector Forum brings together policymakers, key local private sector players, visionaries and industry leaders.
  • The agreements signed covered a range of strategic stc Group objectives, from sustainability to digital transformation.
Business

Iran agricultural, food exports hit US$4.8bn in 10 months

TEHRAN, IRAN – The country has exported more than 6.7 million tons of agricultural and food products worth US$4.8 billion...
  • Of this amount, 4,944,481 tons worth $2,930,585,728 were dedicated to the export of agricultural products.
  • While 1,133,710 tons worth US$931,961,158 were dedicated to the export of food products.
Geostrategy

Saudi Arabia’s air defense commander examines Russia’s S-350, S-400 systems

RIYADH, SAUDI ARABIA – The Commander of the Royal Saudi Air Defense Force Lieutenant-General Mazyad bin Suleiman Al-Amr has inspected...
  • The Royal Saudi Air Defense Force Commander saw various radars from the Almaz-Antey air defense concern.
  • The commander visited the stands of Russian defense industry companies and paid special attention to the air defense systems.