INSEAD Day 4 - 728x90

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.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

  • Nearly half of Bahrain’s wealth, of $69 billion, is possessed by its super-rich citizens, according to Boston Consulting Group (BCG).

    Ultra high-net-worth individuals (UHNWIs), who are valued at $100m or more are expected to own 44pc of overall financial wealth in the kingdom by 2025

    the upper high-net-worth ($20m to $100m) and lower high-net-worth ($1m to $20m) individuals are expected to own 9pc and 15pc of financial wealth in the kingdom respectively by 2025

  • The regulation will look to limit the maximum number of cars non-Kuwaiti residents in the country can own.

    Local authorities were recently alerted to people in the country with up to 50 vehicles in their names

    These people were apparently trading in used cars without a proper license

  • Failing to take guarantees is a violation of the requirements and controls regulating the granting of loans, said the department.

    In many cases already filed, courts found the guarantee provided by a borrower not proportional to the value of the loan

    In some other cases, banks apparently disbursed money against the borrower’s guarantee or his identification papers only

  • International Holding Co (IHC), Abu Dhabi’s largest conglomerate, is looking at acquisitions of various companies in different sectors.

    IHC, now the most valuable company on the Abu Dhabi bourse with a market capitalization of $72bln, is also considering a 2022 IPO

    IHC is also looking at three or four targets in the food sector, as well as eyeing targets in the healthcare and leisure and retail sectors

  • Masraf Al Rayan, Qatar’s Islamic lender, has bought an additional 5 percent stake in Al Rayan (UK) from Qatar Holding...

    The Islamic lender’s shareholding in Al Rayan rises to 75 percent

    This represents a purchase of 5,000,000 ordinary shares of GBP1 par value

  • The exploration is being carried out by the Khazar Exploration and Production Company, or KEPCO.

    The Chalous Superstructure Drilling and Exploration project is expected to be completed over the next couple of years

    It will apparently be the second-largest natural gas block in the Caspian Sea, just behind the Alborz structure

  • A speeding car rammed into an oil tanker, causing the tanker to explode into a ball of fire on the...

    A video posted to the Makkah region’s official Twitter account showed cars driving by a raging fire stretching across the central divide of the highway

    Civil Defense teams at the site eventually managed to control the fire, authorities announce soon after 2 a.m. on Tuesday

  • A public spat has broken out in Jordan over the decision to mine for copper in parts of the Dana...

    The Royal Society for the Conservation of Nature said it opposed any redrawing of the boundaries and that it would take “all legal and escalatory measures under Jordanian law”

    Dana is Jordan’s largest natural reserve, covering some 320 sq km of mountains and wadis along the Great Rift Valley.

  • Iran unveiled the indigenously-designed surface-to-air Bavar 373 missile defense system in August 2019.

    Iran’s Deputy Defense Minister Brigadier General Mahdi Farahi made the announcement

    This is a new edition that may be at the same or higher level than S400

  • The sale of tickets, easing of travel restrictions and positive investment projections point to a surge in economic activity in...

    Dubai intends to open its doors to visitors and re-establish 90 percent of its operating capacity at its airports in 2021.

    66 percent of Dubai business leaders expected an improvement in business conditions in 2021 Q3, compared to 51 percent in the previous quarter.