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 considering Google breakup following monopoly ruling

The US Department of Justice (DOJ) made recommendations for Google’s search engine business practices on Tuesday, according to US media....

Business

GM reports US sales dip, that of EVs grew

The big Detroit automaker reported 659,601 US sales during the period.

Business
Business

Jordanian-Bahraini business forum explores investment opportunities

AMMAN, JORDAN - The Jordan Chamber of Industry (JCI) organized the Jordanian-Bahraini Business Forum in Bahrain's capital, Manama, to increase...
  • The Jordan Chamber of Industry stressed on the role of the private sector as a driver of the economy.
  • The JCI described the level of trade between Jordan and Bahrain as "below aspirations," amounting to less than US$300 million.
Economy

ADJA delivers training program on drafting contracts, legal memos

ABU DHABI,  UAE - The Abu Dhabi Judicial Academy (ADJA) has conducted a specialized training program on drafting and writing...
  • This was done to develop the skills and competencies of practitioners engaged in the legal profession.
  • The program will help the professionals to improve the quality of their service.
Business

ADIB ups ownership in ADIB Egypt

ADIB acquired 9.6m shares from National Investment Bank.
  • ADIB acquired 9.6 million shares from National Investment Bank (NIB), representing 2.4 percent of ADIB Egypt’s share capital.
  • The deal has raised ADIB UAE’s ownership in the Egyptian unit to 52.607 percent.
Business

NBF introduces ‘CVVkey’

It will shield customers from fraud and online threats.
  • CVVkey will be a key element in NBF's efforts to improve cybersecurity across its operations and protect its customers from fraud and other online threats
  • Every few hours, the CVVkey app provides a unique 3-digit dynamic security code for each card enrolled in the service
Business

Stellantis to build electric ‘air taxis’ with Archer

Called Midnight, the vehicle looks like a small plane with several rotors on its wings and is designed to make...
  • Stellantis will invest up to $150 million in Archer and its vertical takeoff and landing aircraft (eVTOL) designed to carry four passengers in addition to the pilot
  • The two groups had previously partnered in 2021 but on a more limited scale, with Stellantis expected to provide technical assistance and access to its supply chain
YEARBOOK 2023

GCC investment in non-oil sectors grew in 2022

GCC countries witnessed the launch of massive economic and development projects in various sectors last year as part of their...
  • GCC countries witnessed the launch of massive economic and development projects in various sectors last year as part of their strategy to diversify their economies
  • The Kingdom's NEOM introduced the energy and water company Inwa, while the Saudi Ports Authority launched 12 private sector investment opportunities last year
Business

dnata begins building warehouse

The facility will be capable of processing 100,000 tons of cargo annually.
  • The facility represents an investment of US$14 million and will create up to 50 additional, direct jobs with dnata in Iraq.
  • The foundation stone for the cargo warehouse is scheduled for completion in September 2024.

Ex-crypto boss Bankman-Fried pleads not guilty to fraud

The United States has charged Bankman-Fried with conspiracy, wire fraud, money laundering and election finance violations. Prosecutors allege he cheated...
  • The 30-year-old former digital currency billionaire, who is out on bail, entered the plea in federal court in Manhattan before New York judge Lewis Kaplan
  • FTX and its sister trading house Alameda Research went bankrupt in November, dissolving a virtual trading business that at one point had been valued by the market at $32 billion
Science

Qatar recycles 80% of waste collected during World Cup

Doha, Qatar-- Qatar has recycled some 80 percent of waste collected from stadiums during the FIFA World Cup games. According...
  • Nearly 54 percent of the waste has been converted into compost, 22 percent into plastic, 14 percent into paper and cardboard, and 8 percent into glass
  • She said the climate change issues and the optimal utilization of natural resources are among the top priorities of the Sustainability Department at the SC
Business

Sustainability key for next-gen data center models

At present, the data center industry as a whole uses approximately 150 billion kilowatt-hours of electricity annually, which is about...
  • At present, the data center industry as a whole uses approximately 150 billion kilowatt-hours of electricity annually, which is about 3 percent of the world’s electricity usage
  • Data centers must operate as efficiently and sustainably as possible to eliminate any potential harm to the environment.

US considering Google breakup following monopoly ruling

The US Department of Justice (DOJ) made recommendations for Google’s search engine business practices on Tuesday, according to US media....
Business

Company News

Latest News

Qatar records real estate transactions worth $400 million in Nov

Doha, Qatar -- Qatar reported a total of 321 real estate transactions worth QR 1.46 billion ($400 million) in November...
Business

Saudi investors witness 40% fall in US equities trading in Q3 2023

Riyadh, Saudi Arabia -- In the third quarter of 2023, Saudi investors engaged in sell and buy transactions on US...
Business

G42’s split from China could spur other GCC firms to follow suit

Dubai, UAE - With the UAE-based G42's decision to align with US directives by severing ties with Chinese tech partners...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Nasdaq Dubai lists Philippines ‘ROP Sukuk Trust’ worth US$1bn

Dubai, UAE--Nasdaq Dubai has welcomed the first Sukuk listing by the Republic of the Philippines, "ROP Sukuk Trust", underscoring the...
  • By listing sukuk on Nasdaq Dubai, the Philippines government intends to deepen its partnership with the GCC region
  • The emirate of Dubai is recognised as one of the world's largest centres for sukuk issuances, with a total of US$87.61 billion
Business

Pfizer set to acquire Seagen

The drugmaker will complete its US$43bn buyout this week.
  • Pfizer Chief Executive Albert Bourla said the buyout of Seagen is "good for patients in the battle against cancer"
  • Based in Washington state, Seagen came to major drugmakers' attention with its work on antibody-drug conjugates
COP28 UAE

Expo City Dubai and Japan’s UMI sign MoU to support startups

Dubai, UAE--Expo City Dubai and Universal Materials Incubator (UMI), a Japanese venture capital firm, have teamed up to identify and...
  • With the signing of the agreement, the two sides consolidated their partnership in innovation, economic growth and sustainable development
  • By joining forces, they will facilitate and host networking events, workshops and specialised training programmes to help startups scale and grow