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.

Content creation key to awareness, culture, human development: Dubai ruler

Dubai, UAE -- Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, attended part of...

Business

Honda and Nissan expected to begin merger talks

Honda and Nissan were poised Monday to announce the start of talks on a merger to help the Japanese giants...

Business

Abu Dhabi-based Aldar to debut in Dubai realty market

Abu Dhabi, UAE--Abu Dhabi-baed Aldar Properties will make a debut into Dubai's lucrative real estate market after it signed an...
  • The joint venture will develop new communities in three locations across an area of 38.2 million sqft (3.55 million sqm).
  • The new communities will be located in the suburban heart of Dubai along the E311 and E611 corridors in close proximity to several residential communities.

Shell annual profit hits $42bn

The post-tax figure was more than double the amount.
  • Shell said it would return $4 billion to shareholders and significantly lift its dividend following the record earnings
  • Shell is looking to reinvent itself under the company's former renewables boss Sawan, who replaced Ben van Beurden
Business

MODON to build and operate 14 warehouses in Jeddah

Riyadh, Saudi Arabia--The Saudi Authority for Industrial Property and Technology Zones (MODON) signed yesterday a partnership agreement to establish, develop...
  • The warehouses will be built in the First Industrial City in Jeddah.
  • The warehouses are expected to provide fast and temporary logistical solutions to support industrialists and entrepreneurs.

India’s Adani shares plunge again after stock sale cancelled

Adani himself issued a video statement on Thursday in which he insisted that the "fundamentals of our company are very...
  • Adani's empire has lost more than $100 billion following explosive allegations of accounting fraud last week by US short-seller Hindenburg Research that the firm has rejected
  • According to Hindenburg Research, Adani has artificially boosted the share prices of its units by funnelling money into the stocks through offshore tax havens
Business

OPEC+ committee recommends to stay course on oil ouput cuts

Vienna, Austria--A committee of major oil producers recommended Wednesday to maintain the cartel's current reduced output strategy, as the global economic...
  • The 13 members of the OPEC led by Riyadh and their 10 allies led by Moscow agreed last October to reduce output by two million barrels per day until the end of this year.
  • Oil prices spiked following Russia's invasion of Ukraine in February 2022
Business

Qatar Airways and Airbus settle long A350 dispute

After a months-long dispute between Qatar Airways and Airbus, the two announced on Wednesday the end of a $2.5 billion...
  • The airline had sought about $2.5 billion in damages and penalties before a British court where the case was due to be heard from June
  • The settlement was discussed when France's Finance Minister Bruno Le Maire met with Qatar's emir, Sheikh Tamim bin Hamad Al-Thani, in Doha on Sunday
YEARBOOK 2023

Fintech prospers as bold debt deals rise in MENA

There is a rise in the interest of foreign investors in the MENA startup ecosystem as their share increased from...
  • There is a rise in the interest of foreign investors in the MENA startup ecosystem as their share increased from 20 percent in 2021 to 47 percent in 2022, reports suggest.
  • A staggering 61 percent of all daring loans were invested in financial technology between 2018 and 2022, reflecting the rising tide of risky spending across the region
Business

PIF, AeroFarms to build indoor farms

The farms will have a capacity of 1.1m kg of crops per year.
  • The agreement aims to optimize natural resources through indoor vertical farming, which requires no arable land.
  • The partnership will allow for sustainable, local sourcing of high-quality crops all year round, grown with AeroFarms' AgTech platform.
Business

Diriyah signs JV agreement

It was signed with Integrated Telecom Company and TAWAL.
  • The 15-year design, build and operate contract covers open-access services for visitors, tenants, and residents of Diriyah.
  • In addition, more than 80 telecommunication towers are expected to be erected over the next three years.
Business

Ship stuck in Egypt’s Suez but traffic unaffected, rescue underway

Ismailia, Egypt--A ship on Wednesday became stuck in Egypt's Suez Canal but traffic through the vital waterway was unaffected, a source...
  • Connecting the Red Sea and the Mediterranean, the Suez Canal accounts for roughly 10 percent of global maritime trade and the majority of oil transported by sea.
  • In recent months, two vessels briefly ran aground in the canal, sparking fears of a repeat of a 2021 incident when container ship Ever Given became diagonally wedged in the canal.

Content creation key to awareness, culture, human development: Dubai ruler

Dubai, UAE -- Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, attended part of...
Business

Company News

Latest News

Qatar’s customs and tax departments link up e-services to ‘facilitate’ business

Doha, Qatar--The General Authority of Customs and the General Tax Authority have announced the launch of the interconnection between their...
Business

Qatar expects a decrease in inflation next year

Doha, Qatar-- Inflation in Qatar is expected to fall in 2024, according to Ali bin Ahmed Al Kuwari, the Minister...
Economy

UAE, Mauritius conclude CEPA talks, set to boost trade

The CEPA will cover trade in goods and services, investment facilitation amongst others. Once implemented, it will accelerate robust growth...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

UAE best performing economy in Arab region, says Arab Monetary Fund

Abu Dhabi, UAE - The United Arab Emirates was named the most economically competitive nation in the Arab world, a...
  • The report noted the UAE secured the top position in the government financial sector index, ranking first in the deficit/surplus to GDP ratio and second in the tax burden index
  • The UAE also topped the infrastructure sector index, leading in mobile phone subscriptions and the percentage of the population with access to electricity
Business

China’s BYD to manufacture cars in Hungary

BYD already has operations in Hungary, including an electric bus factory.
  • "BYD is set to build its first passenger car factory in Szeged, Hungary, marking a significant step toward green mobility in Europe," BYD Europe said on X.
  • Originally specializing in battery production, BYD moved into the automotive sector in 2003 and has since become a heavyweight in electric vehicle (EV) production.
Business

TAQA, GS Inima and EWEC seal deal

Abu Dhabi's Shuweihat 4 desalination project secures $444 million.
  • The S4 RO project is primarily funded 71 percent through debt financing from both local and international banks.
  • The financial closing comes after TAQA and GS Inima signed the water purchase agreement with EWEC in August 2023.