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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.

Abu Dhabi Chamber enhances digital Effortless Certificate of Origin service

ABU DHABI, UAE - Abu Dhabi Chamber of Commerce and Industry (ADCCI) has launched the updated version of its Effortless...
  • The Abu Dhabi Program for Effortless Customer Experience supports Abu Dhabi’s human-centric approach.
  • It enables everyone living and working in the emirate and visitors to carry out tasks quickly, seamlessly and effortlessly.

Investcorp set to invest $1bn in GCC real estate over next five years

The investment in the Dammam warehouse will bring the value of Investcorp’s global warehousing logistics investments to over $4 billion.

Saudi ministry signs hospitality, catering MoUs with 3 firms

Riyadh, UAE---Saudi Arabia's Ministry of Investment has signed MoUs with three companies to develop and market investments in hospitality, tourism,...
  • The MoUs were signed with Kadana Company, Lifestyle Development Company and Jusoor Al-Khaleej Company.
  • The investment ministry is keen to attract investments and enhance their flow into the national economy in various sectors, SPA reported.

UK data shows retailers boosted by higher Christmas prices

London, United Kingdom--British retailers won a boost from higher prices over the key Christmas trading period but the volume of goods...
  • In December, revenue jumped almost seven percent from a year earlier largely thanks to surging food prices
  • UK inflation dipped last month to 10.7 percent but remains close to 40-year highs, forcing consumers to switch to cheaper products

DIFC hosts over 250 companies managing assets worth $450bn

The contribution of financial companies operating from DIFC to the financial services sector in the country exceeded 13% of the...
  • The contribution of financial companies operating from DIFC to the financial services sector in the country exceeded 13% of the nominal GDP of Dubai during 2021, Amiri said
  • The DIFC has already been ranked first in the Middle East and among the top 20 globally on the Global Financial Centres Index for 2022

MENA IPO Summit to attract top industry experts

Dubai, UAE-- Top industry experts will share first-hand knowledge of the IPO process and the opportunities and challenges of becoming...
  • The inaugural summit will shed light on the strong impetus and promising prospects of the initial public offerings (IPOs) sector in Dubai.
  • It will also showcase a roadmap for startups and SMEs in Dubai, including expertise around its regulatory environment, business culture and capital opportunities

Top US court backs WhatsApp suit over Pegasus spyware

WhatsApp sued the Israeli technology firm in 2019, accusing it of targeting approximately 1,400 devices with spyware to steal information...
  • Pegasus gives its government customers -- which have allegedly included Mexico, Hungary, Morocco and India -- near-complete access to a target's device
  • WhatsApp sued Pegasus in 2019, accusing it of targeting approximately 1,400 devices with spyware to steal information from people using the app

Rolls-Royce sells record cars

Sales last year advanced eight percent to a record 6,021 cars.
  • "2022 has been a momentous year for Rolls-Royce Motor Cars," said chief executive Torsten Muller-Otvos.
  • Orders for Spectre, its first all-electric car that launches later this year, beat expectations, the company reported.

European wages to increase at ‘very strong’ rate, says ECB

"Robust labour markets" alongside "increases in national minimum wages" and "trade unions demand(ing) higher wage increases" are also set to...
  • Wage growth over the next few quarters is expected to be very strong compared with historical patterns, the ECB said.
  • In December, inflation in the eurozone dipped under the symbolic figure of 10 percent, after 18 months of uninterrupted increase

Ronaldo to earn $214 million to promote Saudi World Cup bid

The oil-rich kingdom, along with Egypt and Greece, is considering a bid to host world football's 2030 showpiece tournament, and...
  • The arrival of the former Manchester United, Real Madrid and Juventus player came just weeks after neighbouring Qatar became the first Arab nation to host the World Cup.
  • Al Nassr has nine Saudi league titles but never won the Asian Champions League, unlike four-time winners Al Hilal and Al Ittihad, who have lifted the trophy.

Microsoft unveils autonomous AI agents for business tasks

San Francisco, United States - Microsoft on Monday said it was enhancing its AI offerings with new autonomous agent capabilities as...

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UAB concludes $200m term loan

Proceeds of the facility will be used for general corporate purposes.

Mawani gets 79.01 points in UNCTAD’s Liner Shipping Connectivity Index for Q4 2023

RIYADH, SAUDI ARABIA – The Saudi Ports Authority (Mawani) attained its highest improvement in the UNCTAD's Liner Shipping Connectivity Index...

MBC IPO retail subscription begins

MBC Group runs a group of TV and radio channels.
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INSEAD Day 4- 300x600

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Arab Union for International Exhibitions & Conferences approves 2024 plan

Sharjah, UAE--The board of directors of the Arab Union for International Exhibitions Conferences (AUIEC), operating under the Council of Arab...
  • AUIEC plan for next year focuses on attracting new memberships in order to expand its network and active participation in union members' activities and events
  • The union is set to organise prominent events like the Arab Industries Exhibition in the UAE and Iraq and the Conference of the Exhibition Industry in the Arab World

Tesla files recall on 2m vehicles to fix autopilot software

Tesla's Autopilot program has spurred numerous government investigations as well as media exposes focusing on misuse or vulnerabilities. The system...
  • The recall affects models across Tesla's portfolio and will be addressed by an "over-the-air software remedy" typically performed remotely
  • The recall covers 2.03 million Tesla vehicles and includes Models S, X, Y and 3. Authorities in Canada said they were recalling 193,000 vehicles there

NEOM unveils Utamo, a $500bn project to showcase world’s mega artists

NEOM, Saudi Arabia - Saudi Arabia's $500 billion mega project, has introduced Utamo, a new art and entertainment destination set...
  • Described by NEOM as "an innovative and multipurpose event and performance space," Utamo features VIP lounges and signature restaurants
  • NEOM envisions Utamo as a venue where "reality and the digital realm converge," aiming to redefine entertainment benchmarks