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.

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...

Saudi Arabia partners with World Bank to launch global knowledge hub in Riyadh 

According to World Bank Group President Ajay Banga, “The new Knowledge Hub being created by the World Bank Group and...

Business
Business

Boubyan Bank 2022 net profit $189m

The bank will pay 6 fils in cash and 6% in bonus shares.
  • The total consolidated assets of Boubyan Bank Group increased to KD 7.9 billion at a growth rate of 7 percent.
  • The bank said the total of customers’ deposits grew by 6 percent to reach KD 6 billion, while the financing portfolio grew by 7 percent to reach KD 5.9 billion.
Videos

Resilient UAE health sector attracts job seekers

At G20's first Health Working Group meeting in India, UAE affirmed its commitment to play an active role in addressing...
  • One of the prominent successes of Nafis program has been the inclusion of local students in health sector cadre development.
  • A UAE delegation attended G20's first health working group session held in India from January 18 -20.
Business

UAE launches ‘Tax Support’ program to promote compliance with laws

Dubai, UAE - UAE's Federal Tax Authority (FTA) started the ‘Tax Support’ initiative to raise tax awareness among UAE’s business...
  • The step is likely to help the businesses in enhancing compliance with tax laws and regulations.
  • As a result, the first workshop for 2023 under the initiative was held on 24th and 25th January in Oud Metha, Dubai.
Business

Qatar joins consortium to explore Lebanon’s offshore gas

The deal will see the state-run QatarEnergy receive a minority 30 percent stake in two blocks of Lebanon's exclusive economic...
  • The pact greenlights Lebanon's exploration of its southern Sidon reservoir following the signing of the landmark deal last Oct demarcating its maritime borders with Israel.
  • Under a United States-brokered accord, Lebanon and Israel, which are officially still at war, delimited their maritime borders in October 2022.
Geostrategy

Jordan, EU sign two financing agreements worth US$69m

AMMAN, JORDAN  - Confirming its role as one of Jordan’s main supporters, the European Union (EU) on Sunday signed two...
  • The first is financing a US$42 million program in support of Jordan's Ministry of Justice, Judicial Council, Judicial Institute and Public Security Directorate.
  • The second US$27 million contributes to the "Green Growth" program from the Food and Resilience Facility.
Business

DEWA commissions 17 transmission substations worth US$871m in 2022

DUBAI, UAE -  Dubai Electricity and Water Authority (DEWA) inaugurated 17 new substations in 2022. These include fifteen 132kV stations...
  • The transmission substations include 15 132kV stations with a conversion capacity of 2,280 megavolt amperes (MVA) and two 400kV stations with a conversion capacity of 4,000 MVA.
  • DEWA installed 5km of 400kV overhead transmission lines and 247km of 132 kV ground cables to connect the substations to the main transmission network.
Business

Qatar’s planning authority, Microsoft to push emirate’s digital goals

Doha, Qatar-- Qatar's Planning and Statistics Authority (PSA) and Microsoft have signed an MoU to support the digital transformation in...
  • The MoU will enable the Authority to implement projects, disseminate data and statistics, and support sustainability in line with Qatar National Vision 2030.
  • Microsoft will provide PSA with full support, full access to global industry specialists, as well as support in artificial intelligence activities.
Business

Abu Dhabi stock exchange expects boom in listings in 2023

Abu Dhabi, UAE-- The Chairman of the Abu Dhabi Securities Exchange Hisham Khalid Malak expects an increase in listings on...
  • Last year the stock exchange featured five initial public offerings and two dual listings, as well as listings for six exchange-traded funds and one blank-cheque company
  • The chairman said the global picture is "starting to look better than expected, with a soft landing now forecast in the United States"
YEARBOOK 2023

Dubai realty: 2023 starts with ‘strongest’ sales

The emirate saw a record-breaking rise in real estate sales in the first two weeks of 2023, with a total...
  • The emirate saw a record-breaking rise in real estate sales in the first two weeks of 2023, with a total of AED13.22 billion transacted across 4,275 deals, data suggest
  • Sales of record amounts in the Dubai real estate market are indicative of the market's maturity and the maturity of its numerous real estate goods, the reports highlight
Business

Flybe stops trading, cancels flights

Earlier it was a leader in the UK domestic flights sector.
  • "We are sad to announce that Flybe has been placed into administration," the airline tweeted.
  • The UK Civil Aviation Authority advised passengers booked with Flybe not to go to the airport.

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...

Company News

Latest News

UAE central bank cash deposits up by 10.2% in Oct to $187 billion

Abu Dhabi, UAE -- The Central Bank of the UAE (CBUAE) said Thursday cash deposits surged to AED 687.2 billion...
Business

Saudi Arabia’s holdings of US Treasuries up $399 million in Oct 2023

Riyadh, Saudi Arabia -- Saudi Arabia’s holdings of US Treasuries reached $117.5 billion in October 2023, up $399 million month-on-month...
Business

Sony PlayStation 5 sales cross 50 million units

Since releasing the first PlayStation in 1994, Sony has grown into a titan of console gaming, a market whose revenues...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Warner Brothers Discovery explores merger

Warner Brothers Discovery brands include CNN and HBO.
  • Warner Brothers Discovery chief executive David Zaslav met with Paramount Global boss Bob Bakish for several hours to discuss the possibility of merging the companies
  • Warner Brothers Discovery brands include CNN, HBO, and its eponymous film studios, while Paramount’s properties include its movie studios of the same name
Business

London’s transport shifts gears with TfL’s cargo bike action plan

London, United Kingdom - On a busy north London street, plumber Ben Hume-Wright zipped through the heavy rush-hour traffic to his...
  • Transport for London (TfL), the local government body responsible for most of the British capital's transport network, launched its first "Cargo Bike Action Plan" earlier this year
  • The use of cargo bikes also increased during lockdown and encouraging their use chimes with Mayor Sadiq Khan's aim of a carbon net-zero city by 2030
Business

ADIB, Aldar close $272m financing deal

Aldar's total ESG financing facilities reach $1.30 billion.
  • Aldar intends to utilize the proceeds to finance sustainable projects such as green buildings, property upgrades to enhance energy efficiency.
  • The company also intends to use the proceeds to finance sustainable water management, pollution control measures and renewable energy sources.