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.

Microsoft beefs-up its AI assistant with voice, vision

San Francisco, United States - Microsoft on Tuesday doubled down on deploying artificial intelligence to consumers, releasing an updated version of...

Business

Boeing lifts wage hike to 30% 

The 30% general wage hike improves upon the 25% in the earlier offer.

Business
Business

Dubai Courts, Moro Hub ink pact to enhance cooperation in cyber security

DUBAI, UAE  -  Dubai Courts signed a Memorandum of Understanding with Moro Hub, a subsidiary of Digital DEWA, the digital...
  • Leveraging on Moro’s capabilities, the MoU will serve the society’s interest in providing a comprehensive legal framework to combat cybercrimes.
  • The MoU will help in exchange of knowledge and leverage on expertise as per Dubai Courts mission of achieving precise and swift justice.
YEARBOOK 2023

GCC banks to benefit from 2022 growth momentum

Since the COVID-19 outbreak, GCC banks have experienced a growth of more than 10 percent annually, a positive sign that...
  • GCC banks will also reap the benefits of reduced overhead thanks to fewer branches and a smaller workforce.
  • A few GCC banks have expanded into risky countries, especially Turkey and Egypt.
Geostrategy

Dubai court authorizes jailed Brit’s fraud extradition, say lawyers

DUBAI, UAE - A Dubai court Thursday authorized the extradition of a British national wanted over an alleged 1.7 billion...
  • Hedge fund trader Sanjay Shah was arrested in Dubai in June, but the emirate's Court of Appeal in September rejected an extradition request by Denmark.
  • Shah is accused of running a scheme for three years from 2012 in which foreign firms pretended to own shares in Danish companies and claimed tax refunds.
Business

Dubai Chamber launches Cloud Computing Business Group

Dubai, UAE-- Dubai Chamber of Commerce has announced the launch of the Cloud Computing Business Group, which will focus on...
  • The Chamber said the business group will address policy matters related to the industry, amongst others.
  • The UAE has consistently outperformed 15 other countries in the Middle East and North Africa region as the most cloud competitive economy.
Business

TSMC begins making 3nm chips

TSMC operates the world's largest silicon wafer factories.
  • TSMC is also Apple's primary chip supplier.
  • Its 3nm-process chips are expected to have more processing power while using less power, boosting battery performance.
Economy

ADJD discusses developments in Evidence Law in civil, commercial transactions

ABU DHABI, UAE - Participants in the second Justice Partners Forum organized by Abu Dhabi Judicial Department (ADJD) discussed the...
  • The virtual forum highlighted the importance of partnering with lawyers.
  • The forum also reviewed a number of cases handled by the courts.
Business

Fujairah Chamber board approves 2023 operational plan and budget

Fujairah, UAE-- The Board of Directors of the Fujairah Chamber of Commerce and Industry stressed the importance of encouraging private...
  • 2023 operational plan comprises several programmes and activities, including the development of the chamber's electronic system.
  • The Board stressed the importance of encouraging private sector companies and institutions in the emirate to improve their products.

Twitter outages hit thousands of users worldwide

DownDetector reported a spike in issues with Twitter starting around 7 pm Eastern time (midnight GMT), with users unable to...
  • At the peak of the outage, DownDetector clocked more than 10,000 complaints in the United States, as the hashtag #TwitterDown trended on the platform
  • Web monitor NetBlocks said the outages were international and not related to country-level internet disruptions or filtering
YEARBOOK 2023

GCC retail sales pin hope on high consumer spending

Luxury segment is set to hit US$ 11bn by 2023 as retailers in the GCC are reporting increased sales due...
  • Luxury segment is set to hit US$ 11bn by 2023 as retailers in the GCC region are reporting increased sales due to rising inflation and consumer spending on basics, says a survey
  • In Saudi Arabia, the retail market is expected to grow by up to three times its current value by 2030, making it the second largest contributor to the country's non-oil GDP
Business

DEWA’s new project cuts 44,000 tons of carbon emissions annually

The TESTIAC project was implemented to increase the electricity generation capacity of gas turbines during high ambient temperatures in summer...
  • This project is the first of its kind internationally combining Thermal Energy Storage with Inlet Air Chilling in Frame 9F Gas Turbines.
  • This reduces the consumption of natural gas in the electricity production process, which limits greenhouse gas emissions.

Microsoft beefs-up its AI assistant with voice, vision

San Francisco, United States - Microsoft on Tuesday doubled down on deploying artificial intelligence to consumers, releasing an updated version of...
Business

Company News

Latest News

PureHealth offer price $0.89 per share

The IPO witnesses demand of over AED 265bn ($72.15bn).
Business

Microsoft and US labor group join hands on AI

The alliance comes as workers and governments are fretting over the potential repercussions of AI on work, with fears that...
Business

Jordan’s mission to save its ancient olive trees

Jordan's culture ministry, Gharaibeh's organization is working to add the trees to the UNESCO Intangible World Heritage List, hoping this...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Riyadh Season draws 9 million visitors to its entertainment zones

Riyadh, Saudi Arabia - The number of visitors to Riyadh Season has surged to over 9 million, indicating a significant...
  • Riyadh Season, marked by the slogan "Big Time," completed the spectrum of entertainment choices with top-tier events and festivals across various zones
  • Boulevard City zone emerged as a site filled with entertainment options, along with Boulevard World which features a variety of international cultures
Business

Silal and MBZUAI sign MoU

The agreement will bring AI innovation to food production.
  • The two sides will create a framework for the transfer and commercialisation of research, including support for startups and business spinouts
  • The agreement corresponds with the National Strategy for Food Security 2051 to develop a national system based on enabling sustainable food production

SEWA seeks to enhance cooperation with Siemens Energy

Sharjah, UAE -- Sharjah Electricity, Water and Gas Authority (SEWA), has decided to enhance cooperation with Siemens Energy.in developing energy...
  • Heads of both the companies on Sunday discussed the latest developments in the energy sector
  • SEWA commited to cooperate with all local and international bodies to apply the latest technologies and digital transformation