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.

AI as the next frontier: Opportunities for channel partners to lead the way

AI offers an infinite number of selling and upselling opportunities. Resellers with the right strategic long-term approach will clearly develop....

Business

Samsung reshuffles leadership amid challenge in AI chips

Seoul, South Korea - Samsung Electronics reshuffled its leadership on Wednesday as it looks to gain an edge in the production...

Geostrategy
Business

UAE banks’ investments totalled $139bn in Nov 2022, highest in 13 months

According to central bank's statistics, Banks’ investments rose in the first eleven months of 2022 by $10 billion or 8...
  • According to central bank's statistics, Banks’ investments rose in the first eleven months of 2022 by $10 billion or 8 percent, compared to $129 billion in 2021
  • Securities that are debts to third parties, or bonds, accounted for the largest share of banks’ investments by over 49.1 percent, reaching $68 billion up to November 2022
Business

DP World gets rating upgrade

The boost is seen as key for its long-term growth plans.
  • The rating upgrade follows two major investments in 2022 at DP World’s flagship UAE assets: Jebel Ali Port, Jebel Ali Free Zone, and National Industries Park
  • According to Moody’s, DP World’s diversified global port operations led to the improved rating
Business

SIB 2022 profit reaches $177mn

The bank recorded an increase of 26.6 percent.
  • The bank also reported an operating profit of $272 million in 2022, an increase of 17.4 percent from the previous year
  • The bank also reported an operating profit of $272 million in 2022, an increase of 17.4 percent from the previous year
Economy

UN blames Myanmar military coup for boost in opium farming

The area of land used for opium poppy cultivation expanded by a third to just over 40,000 hectares in 2021-22...
  • The UNODC estimates Myanmar's opium economy is worth around $2 billion -- the equivalent of up to three percent of the country's GDP in 2021
  • A combination of the pandemic and the aftermath of the coup hammered Myanmar's economy with an 18 percent contraction in 2021, according to the World Bank
Business

NBF posts 195% profit jump

The bank's net profit rose to $93 million in 2022.
  • Net interest income and net income from Islamic financing and investment activities grew 29.8 percent to $327 million
  • Income from investments and Islamic instruments stood at $5 million
Economy

Libya signs US$8bn deal with Italy to develop offshore sites

Looking to develop offshore hydrocarbon sites, Libya's National Oil Corporation has signed an $8-billion deal with Italian energy company ENI....
  • Libya sits atop Africa's biggest oil reserves but has been engulfed by conflict since the 2011 revolt that toppled longtime dictator Moamer Kadhafi
  • Italy has been scrambling to find alternatives to Russian energy since Moscow's invasion of Ukraine, and Italian Prime Minister Giorgia Meloni is set to visit Tripoli
Arts & Culture

Revenue from Saudi cinema may exceed $1bn by 2030

The revenue of Saudi cinemas increased by 9.47% to approximately US$240 million until December 25, 2022, compared to 2021's revenue...
  • The revenue of Saudi cinemas increased by 9.47% to approximately US$240 million until December 25, 2022, compared to 2021's revenue of US$232 million, a latest report points out
  • Although the Saudi film industry is still in its infancy, the goal is to increase the number of local films shown in theaters to 70 per year by 2030
Business

Boeing posts Q4 loss of US$634m

Firm confirmed its 2023 outlook amid strong aviation demand.
  • Boeing said its commercial plane business was dented by "abnormal costs".
  • It said "labor instability and supply chain disruption" weighed on its defense, space and security unit.
Geostrategy

Iraqi PM to visit France for energy and security talks

BAGHDAD, IRAQ -  Iraqi Prime Minister Mohammed Shia al-Sudani will travel to France on Thursday for energy and security talks with...
  • Sudani said he wants to "activate the agreements" between oil-rich Iraq and France "particularly in the transport, energy and investment sectors".
  • French giant TotalEnergies in 2021 signed a $10 billion contract with Baghdad, but work on the multiple projects is yet to begin.
Business

Saudi National Housing signs 22 MoUs to boost local real estate sector

Riyadh, Saudi Arabia---Saudi Arabia's National Housing Company signed 22 MoUs worth nearly 4 billion riyals ($1.06 billion) on the sidelines...
  • The MoUs worth nearly 4 billion riyals ($1.06 billion) were signed on the sidelines of the launch of the materials platform, Mawadat, at the Future of Real Estate Forum.
  • The electronic platform facilitates the process of direct linking between real estate developers and contractors with factories and suppliers of building materials.

AI as the next frontier: Opportunities for channel partners to lead the way

AI offers an infinite number of selling and upselling opportunities. Resellers with the right strategic long-term approach will clearly develop....
Business

Company News

Latest News

Hyundai to sell Russian plant

Sales of Hyundai cars have tumbled in Russia.
Business

DIFC Innovation Hub 2023 graduates raise $600 million in funding

Dubai, UAE -- More than 200 start-ups graduating from the programs of DIFC Innovation Hub in 2023 have collectively raised...
Business

Bayanat, Yahsat to merge           

It will benefit from revenue synergies, economies of scale.
Business
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INSEAD Day 4- 300x600

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Geostrategy

15% increase in air traffic at UAE airports during COP28, says GCAA

ABU DHABI, UAE – Airports in the country witnessed a 15 percent increase in air traffic during the 28th Conference...
  • The first day of COP28 - November 30 2023 - witnessed the highest daily air traffic rate in the history of civil aviation in the UAE with 2,848 flights.
  • The General Civil Aviation Authority organized meets and daily communication sessions to discuss plans, improve air navigation management systems.
Business

Lufthansa orders planes for $9 bn

The airline ordered 40 planes each from Boeing and Airbus.
  • The Airbus planes are intended to be used by Lufthansa's new regional carrier, City Airlines, which is due to start operating in summer 2024.
  • The aircraft, the first of which will be delivered in 2026, will be deployed on short-haul routes from Frankfurt and Munich.
Business

ENEC announces completion of Unit 4 of Barakah Nuclear Energy Plant

The Federal Authority for Nuclear Regulation (FANR), the UAE's independent nuclear regulator, recently issued the Operating License for Unit 4...
  • The three current commercially operating Units at Barakah, delivered in three consecutive years, are already generating more than 30TWh of zero-emission electricity every year.
  • The Barakah Plant, a pivotal player in the international nuclear energy sector, boasts four APR-1400 units, marking it as one of the largest nuclear energy facilities globally.