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.

ADQ and US equity firm ECP to invest $25bn in data center energy projects

Dubai, UAE --  Abu Dhabi sovereign wealth fund ADQ has partnered with the American private equity firm Energy Capital Partners...

Business

Google says to buy Wiz for $32 bn

The all-cash deal brings Wiz into the Google Cloud operation.

Business
Business

Japan’s investment in Egypt soars, but bilateral trade contracts

Cairo, Egypt-- Egypt's trade with Japan dropped 26.3 percent to US$1.1 billion in 2022, but the value of Japan's investments...
  • In 2022, Egypt sent exports worth $261 million to Japan, including fuel, minerals, fruit, iron and steel products, carpets, and animal feed
  • Japan exported goods worth $889 million to Egypt in 2022, including boilers, machinery, equipment, cars, tractors, bicycles and pharmaceutical products
Business

AD Ports Group buys 5 bulk carriers, 3 crude oil tankers

Abu Dhabi, UAE – AD Ports Group has announced its plans to expand its fleet with the acquisition of five...
  • The five bulk carriers, worth approximately $125 million, will be purchased from Saif Powertec as part of a long-term agreement signed in April 2022
  • The deal involves the transportation of general bulk cargo between the UAE's Fujairah Port and destinations like the Indian subcontinent and Southeast Asia
Economy

Saudi CMA cancels its share in sukuk, bonds trading commission

Riyadh, Saudi Arabia--The Capital Market Authority (CMA) has announced the cancelation of its share in sukuk and bonds trading commission...
  • It is designed to lower costs for participants in the market, boost liquidity and expand domestic investors' based in government debt issues
  • With this step, the CMA hopes to develop a diversified financial sector and create an advanced capital market in line with the Vision 2030 objectives
Economy

UAE to deepen economic ties with Morocco in several sectors

Rabat, Morocco-- Seeking to deepen its investments in Morocco, which stood at US$14 billion at the end of 2021, the...
  • Having invested US$14 billion at the end of 2021, the UAE is the largest Arab investor in Morocco and second in the world
  • The UAE and Morocco will double the volume of trade and investment during the next few years and also ramp up cooperation in many sectors
Business

Alkhaleej Insurance posts profit

Its net profit soared 33% to US$7.49mn for Q1 of 2023.
  • Its EPS stood at QR 0.107 at the end of March 31, 2023 as against EPS QR 0.080 for the same period in 2022
  • Qatar Islamic Insurance reported a 7.16 percent jump in the net profit to $8.04 million in net profit in the first three months of 2023

Jewellery with Nazi links set to fetch $150mn at Christie’s auction

Four hundred of the Horten lots will be sold at Christie's Geneva auction house from May 10 to 12. According...
  • Christie’s will offer 700 lots from Horten’s collection, including "unique and exceptional pieces" from 20th-century designers including Cartier, Harry Winston and Bulgari
  • The sale could eclipse previous records set by Christie's in sales of properties that belonged to actress Elizabeth Taylor in 2011 which exceeded $100 million
Business

Abu Dhabi aims to draw 24 million visitors by end of 2023

Abu Dhabi, UAE--The emirate of Abu Dhabi is looking to draw some 24 million visitors by the end of 2023,...
  • In 2022, the Abu Dhabi hotel occupancy rate touched 70 percent as 18 million visitors trooped into the emirate, posting a 13 percent jump
  • The emirate received the highest number of international visitors from India, Saudi Arabia, the United Kingdom, and the United States
Business

Enhanced governance, financial control crucial for SMEs’ growth in Gulf region, says expert

Despite significant rise in SMEs across GCC, there is still room for improvement in terms of governance, bringing in external...
  • Despite significant rise in small businesses across GCC, there is still room for improvement in terms of governance, bringing in external shareholders, says Rabih I. Khoury of MEVP
  • Reducing political friction and achieving economic and political stability will help regain consumer confidence and encourage longer-term investments, adds Khoury
Business

UAE, Morocco discuss ways to strengthen trade relations

Rabat, Morocco - The UAE is keen to strengthen economic and trade relations with Morocco, in a way that enhances...
  • The two sides discussed the importance of intensifying mutual investments in areas of technology, cyber security and artificial intelligence.
  • They also discussed launching a new program to support agricultural investments and stimulating joint cooperation.
Economy

EU reports employment rate of 75 percent in 2022

BRUSSELS, BELGIUM  - In the European Union countries, 75 percent (193.5 million) of people in the 20-64-year- age group were...
  • The employment rate in the EU dropped to 72 percent in 2020 due to the COVID-19 pandemic.
  • In 2022, the EU over-qualification rate was 22 percent, with 21 percent for men and 23 percent for women.

ADQ and US equity firm ECP to invest $25bn in data center energy projects

Dubai, UAE --  Abu Dhabi sovereign wealth fund ADQ has partnered with the American private equity firm Energy Capital Partners...
Business

Company News

Nawy raises $5m in funding

Apollo to invest in Aldar

DEWA expands fibre optic ducts

East Pipes to list on TASI

QLM net profit up 8 percent

Latest News

Aramco injects $4 billion into its global venture capital arm

Dhahran, Saudi Arabia -- Aramco has allocated an additional $4 billion to its global venture capital arm Aramco Ventures, more...
Business

UAE launches new ‘EcoMark’ green accreditation framework for MSMEs

Davos, UAE - The UAE has announced plans to develop the first-ever sustainability accreditation framework explicitly for micro, small and...
Economy

Watch: Experts discuss how Arab world reshapes future

At the HUB Davos 2024 conference, UAE's Minister of Economy Abdulla Bin Touq Al Marri highlights the nation's commitment to...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Qatar Islamic Bank profit up

It posted a 7.5% jump in net profit to US$1.18bn last year.
  • The bank's basic earnings per share for the year 2023 are QAR 1.73 compared to QAR 1.62 for 2022
  • Its board of directors proposed a dividend distribution to shareholders of QAR 0.725 per share
Business

Mawani reports rise in container handling

The growth aligns with the aims of national logistics strategy.
  • Saudi Arabia's overall ports recorded a 9.01% increase in annual container handling for 2023, reaching 11,380,302 TEU compared to 10,439,620 TEU in 2022
  • Transshipment containers also experienced an 8.96% increase in volume, with 3,237,490 TEU transshipped in 2023 compared to 2,971,233 TEU in 2022
Opinion

Disinformation, misinformation hurt global businesses

"These risks are serious because they limit our ability to tackle the big global challenges we are facing. Changes in...
  • Rebuilding trust and fostering global collaboration are essential to address the present challenges.
  • The role of AI and digital innovation in combating misinformation and boosting productivity.