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.

NEOM, Saudi Red Sea Authority to partner in marine tourism

NEOM, Saudi Arabia -- Saudi Red Sea Authority (SRSA) has signed a memorandum of understanding (MoU) with NEOM to collaborate...

Business

‘Dubai, Abu Dhabi, Riyadh, Bahrain have reinforced position as top GCC tourist spots’

GCC region is a hidden gem, offering a distinct blend of Arabic culture and history, Fahim Jalalli, CEO of Kanoo...

Business

Saudi Arabia’s first electric vehicle brand Ceer launched by Crown Prince

Ceer will design, manufacture and sell a range of vehicles in Saudi Arabia and the MENA region, including sedans and...
  • Ceer is projected to directly contribute US$8 billion to Saudi Arabia’s GDP by 2034, the PIF said. Ceer vehicles are scheduled to be available in 2025.
  • Each vehicle will be designed and manufactured in Saudi Arabia, and tested to the highest global automotive quality control and safety standards.
Geostrategy

Europe could face gas shortage next year, says IEA

Europe must act immediately to prevent a shortage of natural gas next year as Russia slashes deliveries in the wake...
  • IEA Executive Director Fatih Birol said he would hold talks on Friday with several European governments.
  • He said that Europe needs to take immediate action to avoid risks of natural gas shortage next year.
Geostrategy

UAE, Indonesia to cooperate in energy sector

UAE and Indonesia have signed a Declaration of Intent to boost economic and social development between the two countries and...
  • The declaration was signed between the UAE Ministry of Energy and Infrastructure and the Indonesian Ministry of Energy and Mineral Resources.
  • It was signed during a joint meeting between the two countries at the Abu Dhabi International Petroleum Exhibition Conference ‘ADIPEC 2022.
Business

ING Q3 profit at US$958m

Bank announced a share buyback of US$1.4 billion.
  • The bank said its Polish unit took a US$334 million hit from new regulations allowing borrowers to suspend mortgage loan payments.
  • ING said that it benefited from higher interest rates, which central banks have been hiking aggressively in efforts to tame inflation.
Business

BMW Q3 net profit US$3.1bn

Profit was due to high demand for pricier luxury models.
  • Car deliveries were down nearly one percent over the period as the industry continues to grapple with supply chain disruptions.
  • BMW said higher prices for its premium vehicles had helped deliver a solid third quarter.
Business

AD Ports Group acquires 80% stake in GFS

The Group will look to integrate GFS into its Maritime Cluster.
  • The equity stake was bought for AED2.9 billion ($800 million) implyin 100 percent Enterprise Value of AED3.7 billion.
  • Aligning GFS services with AD Ports Group companies SAFEEN Feeders and Transmar will make AD Ports Group the world's largest independent feeder company by vessels owned.
Business

Smugglers devise novel ways in Middle East to traffic captagon

Fastening weapons or drugs to livestock to cross borders is an age-old smuggling trick. Latin American cartels took this a...
  • The creativity of smugglers continues to astound the authorities, with seizures more often the result of tip-offs than the technological prowess of customs checks
  • More than 5.3 million pills were found by the Saudi authorities in a large shipment of pomegranates in April 2021, with the drugs stuffed inside some of the fruit
Business

Six grain ships depart Ukraine ports after Russia rejoins deal

Moscow had said on Saturday that it was temporarily pulling out of the grain deal, accusing Ukraine of using a...
  • Turkey and the United Nations engaged in intense diplomacy to save the agreement designed to ease global food crisis caused by the Russian war in Ukraine
  • Russia's defense ministry said on Wednesday it had received sufficient guarantees from Kyiv that it would not use the maritime corridor to carry out attacks
Business

Arriyadh posts 20% profit drop

Its profit declined to $69.6m in the first nine months of 2022.
  • According to a bourse filing, the developer had posted $87 million profit in the corresponding period the year earlier
  • The decline in profit is mainly due to the 17 percent reduction in income from the associate company’s business, resulting from lower land sales volume
Business

Saudi, Turkish media leaders discuss cooperation

The meeting discussed news exchange, news agencies, radio, Television, media regulation and international media relations.
  • The meeting discussed news exchange, news agencies, radio, Television, media regulation and international media relations
  • The Turkish Ambassador to the Kingdom Fatih Ulusoy was also part of the meeting besides President of the Saudi Press Agency Dr. Fahd bin Hassan Al Aqran

NEOM, Saudi Red Sea Authority to partner in marine tourism

NEOM, Saudi Arabia -- Saudi Red Sea Authority (SRSA) has signed a memorandum of understanding (MoU) with NEOM to collaborate...
Business

Company News

Latest News

ADNOC unveils inaugural green hydrogen refueling station

Abu Dhabi, UAE - ADNOC announced on Friday it opened “H2GO”, the region’s first high-speed green hydrogen pilot refueling station,...
Business

Saudi Arabia raises US$11bn syndicated loan to fund deficit

RIYADH, SAUDI ARABIA - Saudi Arabia raised a syndicated loan of US$11 billion (SAR 41.25 billion) to fund a budget...
Business

UAE approves Dubai Metro Blue Line project

DUBAI, UAE - Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has approved the...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Qatar posts trade balance surplus of US$16.7bn in Q3 2023

DOHA, QATAR - The merchandise trade balance of Qatar (difference between total exports and imports) recorded a surplus of US$6.7...
  • In Q3 2023, Asia was the principal destination of Qatar’s exports and imports, representing 74.9 percent and 36.3 percent respectively.
  • In Q3 2023, the European Union, accounting for 10.4 percent and 27.5 percent of Qatar's exports and imports respectively.
Business

Dubai records weeklong real estate deals worth $2.45 billion

Dubai, UAE -- A total of1,852 real estate transactions valued at more than AED 9 billion ($2.45 billion) were conducted...
  • The DLD weekly report said that 384 plots were sold for AED 2.54 billion, 1,468 apartments and villas were sold for AED 3.38 billion.
  • A total of 139 properties were granted between first-degree relatives worth AED507 million.
Arts & Culture

Jeddah Program named cultural destination of FIFA Club World Cup

Riyadh, Saudi Arabia -- The Historic Jeddah Program has secured sponsorship rights as the official cultural destination and main supporter...
  • This prestigious tournament will be hosted in Jeddah from December 12 to 22, 2023, marking the first time it will be held in the Kingdom.
  • The program's sponsorship of this tournament is part of its efforts to showcase the historic Jeddah region, a UNESCO World Heritage Site.