INSEAD Day 4 - 728x90

Business

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.

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.

US$1.5 billion Amazon protection plan launched in Davos

A carbon markets investor backed by Swiss-trading house Mercuria said on Wednesday it had joined with two non-profits to raise...

1 Billion Followers Summit: AI’s transformative role in content creation highlighted by YouTube, Meta, Duolingo

Dubai, UAE - The 1 Billion Followers Summit, the world’s largest event dedicated to the content creator economy, brought together...

Business
Business

dans, MBRSC ink MoU for Aerospace Communications, Navigation and Surveillance Infrastructure

dans is the sole air navigation service providerfor four airports, including Dubai Airport, the world's top airport for international travellers.
  • dans is the sole air navigation service providerfor four airports, including Dubai Airport, the world's top airport for international travellers
  • MBRSC is the government organisation behind space satellite projects like the Emirates Mars Mission, Emirates Lunar Mission and the UAE astronaut programme
Business

Volkswagen posts profit

Its operating profit rose by 12.5 percent to $24 billion.
  • Earnings rose despite a drop in sales, with Volkswagen reporting at the beginning of the year a seven percent drop in the number of vehicles sold in 2022
  • Volkswagen had forecast an increase of between 8.0 and 13.0 percent
Business

Iraq’s Kurdistan restarts oil exports through Turkey after quake

A day after the powerful earthquake devastated Turkey and Syria, Iraq's autonomous Kurdistan region has said that it resumed oil...
  • The northern region usually exports around 450,000 barrels of oil a day through Turkey
  • Authorities had said exports through Turkey's Ceyhan port would resume after inspection of pipelines
Economy

US trade deficit widens in 2022 to record on strong imports

US trade gap widened to a record in 2022, though expanding less than expected in December, government data said, capping...
  • This marks the biggest deficit in government data dating back to 1960.
  • In December, the trade deficit expanded $6.4 billion to $67.4 billion, said the Commerce Department.
Business

Saudi Arabia center, Yokogawa to advance 4IR in kingdom’s industry

Riyadh, Saudi Arabia--The Center for the Fourth Industrial Revolution in Saudi Arabia (C4IR KSA), affiliated with the World Economic Forum...
  • Signed on the sidelines of LEAP 23, the MoU aims to develop frameworks and policies for the governance of the fourth industrial revolution technologies in the industrial sector.
  • The two sides undertake to supervise the pilot studies of the projects and assess the participation of other entities in the kingdom.
Market Report

Stocks steady, dollar higher on US rate-hike expectations

Stock markets largely steadied and the dollar rose with traders forecasting US interest rates to keep climbing following last week's...
  • January's rally for equities was halted as investors contemplate an extended period of high borrowing costs.
  • Leading Asian stock markets and London managed gains Tuesday after all three main indices on Wall Street kicked off the week with losses.
Business

DEWA updates strategic plan to include achieving net-zero by 2050

DUBAI, UAE -  Dubai Electricity and Water Authority (DEWA) has updated its strategic plan, adding achieving net-zero by 2050 to...
  • DEWA is steadily moving towards reducing its carbon footprint to achieve a sustainable net-zero carbon by 2050.
  • The production capacity of clean energy in Dubai is around 14 percent of total power generated.
Economy

UAE Pension Authority to focus on awareness among Emirati employees

ABU DHABI, UAE - The General Pension and Social Security Authority (GPSSA) of UAE has announced its key strategic objectives...
  • The authority said that it serve the community with utmost promptness and professionalism.
  • There are presently 95,935 Emirati employees working in 9,082 federal, government and private entities in the UAE, who are insured by the GPSSA.
Business

Google to release Bard in showdown with Microsoft’s ChatGPT

Media reports said the overnight success of ChatGPT was designated a "code red" threat at Google with founders Sergey Brin...
  • Google's announcement came on the eve of an AI-related launch event by Microsoft in yet a further sign that the two tech giants will do battle over the technology
  • Before the emergence of ChatGPT, Google had been reluctant to launch its own language-based AI fearing the reputational risk of releasing technology that wasn't ready
Business

Etihad Cargo, Astral sign MoU

They will share up to 50 percent of all available capacity on flights.
  • Via Etihad Cargo’s Abu Dhabi hub, the carrier’s global network will offer connectivity to destinations around the world.
  • Etihad Cargo will utilize its road feeder service network to transport cargo arriving in Abu Dhabi from Nairobi to destinations throughout the UAE.

US$1.5 billion Amazon protection plan launched in Davos

A carbon markets investor backed by Swiss-trading house Mercuria said on Wednesday it had joined with two non-profits to raise...

Company News

Latest News

Institutional investors purchase $1.9bn in UAE stocks during 2023

Abu Dhabi, UAE -- Institutional investors boosted their acquisition of domestic stocks in 2023, purchasing nearly AED 7 billion ($1.9...
Business

ADDED, Siemens Energy to support sustainable industrial development in Emirate

ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...
Economy

Decree issued to form Board of Dubai Corporation for Ambulance Services

Dubai, UAE -- Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum Monday issued a decree for the formation of the...
Business
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INSEAD Day 4- 300x600

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Business

Al Saqr names chairman of board

The insurance firm made a slew of new appointments.
  • Saud Saleh Al-Arifi, an independent member, will be the new chairman of the board of directors
  • The company named Naif Rashed Alarfaj, also an independent member, as new vice chairman
Business

South Korea posts 32% jump in export of eco-friendly vehicles

Seoul, South Korea--South Korea's exports of eco-friendly vehicles surged 32.5 percent year-on-year to a record high during the first 11...
  • According to the Korea Automobile and Mobility Association, the export of automobiles came to 662,307 units during the January-November period
  • The export volume of eco-friendly cars last year reached a record high of 554,000, and the value also hit an all-time high of US$1.61 million
Geostrategy

FTA issues guide to determine natural persons subject to corporate tax

ABU DHABI, UAE - The Federal Tax Authority (FTA) has issued a new guide outlining the criteria to determine natural...
  • The guide provides a comprehensive and simplified explanation and instructions for natural persons earning in the UAE.
  • The FTA emphasized the importance of understanding the comprehensive content and definitions outlined in the guide.