INSEAD Day 4 - 728x90

Business

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Empower okays $119.1m H2 2025 dividend

The dividend is equivalent to 43.75% of paid-up capital.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Business

Gold hits record, dollar drops as tariff fears dampen sentiment

With several markets still closed for the Easter holiday, business was limited ahead of a week that will see the...

Business
Business

Boeing, Airbus notch up big orders

At list prices, the Airbus deal is worth $3.3bn and Boeing's $1bn.
  • Philippine Airlines will buy nine of Airbus' A350-1000 planes, while Air Algerie will buy eight of Boeing's medium-haul 737 MAX-9 aircraft.
  • Faced with growing demand for long-haul planes, Airbus is pushing to increase production of the A350, its latest airliner, setting a target of nine per month by the end of 2025.
Geostrategy

Riyadh faces Rome and Busan in race to host World Expo 2030

Paris. France -- The candidature of Saudi Arabia (for Riyadh), South Korea (Busan) and Italy (Rome) for World Expo 2030...
  • At the 172nd General Assembly of the BIE, Member States were presented with the findings of Enquiry Missions carried out by the BIE to assess the candidature projects for Expo2030.
  • Riyadh's bid for Expo between 1 October 2030 and 31 March 2031 is under the theme “The Era of Change: Together for a Foresighted Tomorrow”.
Business

Arada’s US$500m Sukuk lists in Nasdaq Dubai

DUBAI, UAE -  Arada's US$500 million Sukuk was listed in Nasdaq Dubai. The Sukuk is the first issuance by Arada...
  • This marks Arada’s first listing in the UAE, following its Sukuk listing last year on the London Stock Exchange.
  • Arada has embarked on projects worth US$10 billion under development in Sharjah and Dubai.
Business

ADNOC L&S gets new VLCC

VLCCs carry almost 2 million barrels of crude per voyage.
  • The vessel is the first of four dual-fuel engine very large crude carrier which can also run on liquefied natural gas
  • ADNOC L&S has committed approximately $2 billion to build more environmentally efficient vessels.
Business

Alibaba names new CEO, chairman

The move fits in with its plan to reorganize business operations.
  • Under the reshuffle, Joseph Tsai will serve as chairman and Eddie Wu as CEO -- replacing Daniel Zhang, who holds both roles, appointments will take effect on September 10
  • Daniel Zhang said in a statement it was the "right time" for him to step down as Alibaba looks to implement a full spin-off of its advanced cloud computing unit
Economy

Islamic banks’ assets climb up to US$177bn in Q1 of 2023: CBUAE

Abu Dhabi, UAE--Gross assets of the Sharia-compliant banks in the UAE climbed to $177 billion by the end of the...
  • According to the CBUAE, there was an increase in Islamic banks' credit to US$109 billion toward the end of March 2023, an annual growth of 2.51 percent
  • The apex bank noted the jump in the Islamic banks' deposits to US$123.45 billion in March 2023, an annual rise of 6.2 percent, from nearly US$116.26bn in March 2022
Business

Saudi-French Investment Forum signs $2.9 billion worth of agreements

The Saudi-French Investment Forum witnessed the signing of 24 MoUs and investment agreements, collectively valued at approximately $2.9 billion. The...
  • The agreements provide opportunities for increased investment and collaboration in diverse sectors
  • Trade volume between France and Saudi Arabia surged by over 80% in 2022, reaching $11.5 billion
Economy

Oman’s economic growth to reach 2.7 percent in 2024, says IMF

MUSCAT, OMAN - Oman’s economic growth is expected to rebound to 2.7 percent in 2024 but will slip in 2023...
  • The projections reflect the oil production cuts by OPEC+, moderate growth in the non-hydrocarbon sector and a slowdown in global economic activity.
  • Oman's real GDP rose by 4.3 percent in 2022, basically on an expansion of the hydrocarbon sector.
Business

ADIB, ADIO to fund businesses

ADIB will facilitate the opening of Shariah-compliant bank accounts.
  • This strategic move ensures that businesses have access to banking solutions that align with Islamic principles, ADIB said in a statement.
  • ADIB will also provide financing options based on collateral in the form of on-ground operating assets such as real estate, equipment, and machinery, the bank said.
Business

India’s IndiGo places record order for 500 Airbus A320

Indian carrier IndiGo said it had ordered a 500 A320 airliners from European manufacturer Airbus at the Paris Air Show....
  • Airbus boss Guillaume Faury said the signing was "an enormous milestone, to our knowledge and recollection no-one has ever ordered" so many planes at a stroke.
  • With an order book now at over 1,300 aircraft, the contract also makes IndiGo Airbus' largest customer for the A320 family.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.
Business

Company News

Qatar Airways orders 25 aircraft

Arada H1 property sales up

American Airlines registers Q2 profit

Amazon expanding health care

easyJet orders 56 aircraft

Latest News

WEF24: GenAI poised to revolutionize energy sector

The GCC -- with countries such as Saudi Arabia, the UAE, Kuwait, and Qatar -- plays an important role in...
Interview

‘AR, VR and video analytics shaping imaging industry’

Canon focuses on innovation, integrating AI-driven features, deep learning and machine learning to meet changing customer needs, says a top...
Interview

UAE is the most popular destination for global workers, says report

Dubai, UAE – The United Arab Emirates is the most popular country for international talent seeking employment visas, a report...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Most markets advance after tech titans fuel Wall Street surge

Shares in Amazon, Apple and Facebook owner Meta all climbed during Thursday's session. All three companies were due to report...
  • Shares in Amazon, Apple and Facebook owner Meta all climbed during Thursday's session. All three companies were due to report results after the market closed
  • Wall Street's main indices -- the Dow, the tech-heavy Nasdaq and the broad-based S&P 500 -- had tumbled on Wednesday after the Fed's disappointing rate signal
Business

Qatar records real estate deals worth $100 million in five days

Doha, Qatar -- Qatar has recorded real estate transactions worth 378 million QR ($100 million) during the 21-25 Jan 2024...
  • Sales were concentrated in, Doha, Al Rayyan, Al Daayen, Umm Salal, Al Wakrah, Al Shamal municipalities, and in the Pearl Island, Lusail 69, Legtaifiya, and Al Kharayej Zones.
  • The volume of real estate trading in sales contracts at the department during the Jan 14-18 period exceeded QR 344 million.
Economy

Qatar Central Bank issues treasury bills, sukuk worth US$686m

DOHA, QATAR - The Qatar Central Bank issued treasury bills and sukuk with maturities of one week, one month, three...
  • The Qatar Central Bank said the total bids for the treasury bills and Sukuk amounted to US$2.2 billion (QR 8.275 billion).
  • QCB issued treasury bills and Sukuk with maturities of one week, one month, three months, six months and nine months.