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.

‘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...

QFZ, AEMOB to drive EV innovation

AEMOB Forum will be held in Qatar from April 30 to May 2

Business
Economy

Saudi Arabia’s GDP grows by 8.6 percent in third quarter of 2022

As per estimates by the General Authority for Statistics (GASTAT), real Gross Domestic Product (GDP) of Saudi Arabia grew by...
  • The seasonally adjusted real GDP increased by 2.6 percent in the third quarter 2022 compared to the second quarter this year.
  • Non-oil activities grew by 5.6 percent and government services activities by 2.4 percent on a year-on-year basis.
Business

Empower IPO priced AED1.31-1.33 per share

The total offering size expected between $357m and $362m.
  • On Oct. 24, Empower announced it will list 10 percent stake in its IPO and list a portion of its ordinary shares for trading on the Dubai Financial Market (DFM).
  • Empower said that 1 billion shares, each with a nominal value of AED0.10 (ten fils) will be made available in the offering.
Business

Hong Kong looks to legalize crypto for retail investors

Years of strict pandemic controls and a political crackdown have hammered the Asian finance hub's economy and sparked an exodus...
  • In contrast to mainland China where crypto has been all but banned, Hong Kong is looking to relax regulations and claw back some of the business that has left
  • A fintech conference opened on Monday and will be followed on Wednesday by a finance summit attended by some of the world's top bankers
Business

Taaleem to raise US$204.21 million in IPO

Dubai school operator plans to expand its network.
  • Taaleem will offer 10% of its shares to retail investors starting Nov 10, and 88% of its shares to professional investors on Nov. 17
  • The company said another 2% will be offered to Eligible Employees and Eligible Parents
Business

Qatar and Azerbaijan to enhance trade, energy relations

Doha, Qatar— Qatar and Azerbaijan have decided to enhance relations in the fields of energy and trade and in this...
  • Minister of Economy of Azerbaijan, Mikayil Jabbarov, lauded the relations both countries enjoy, noting that Azerbaijan is eager to further develop its relations with Qatar
  • The Qatar-Azerbaijan Joint Business Council aims to assist in setting up direct partnership links between business entities of both countries
Videos

New industrial policy seeks to diversify Saudi economy

The program, launched by Saudi Crown Prince and Prime Minister Mohammed bin Salman, has identified more than 800 investment opportunities...
  • The new industrial strategy envisages tripling the country’s industrial domestic product and doubling the value of industrial exports to $148.2 billion.
  • The Crown Prince said the program will make the kingdom a leading industrial power that “contributes to securing global supply chains and exporting high-tech products to the world”
Business

Qatar Digital Incubation Center fostering 25 new startups

The selection was made from among 42 competing startups which presented their projects in front of a specialized judging panel.
  • The selection was made from among 42 competing startups which presented their projects in front of a specialized judging panel
  • The startups in IdeaCamp will enjoy DIC guidance and support throughout their incubation, as well as office space for two years
Business

Savola Group posts 36% increase in profit

It recorded $173m profit in the first nine months of 2022.
  • The food company said in a bourse filing that it had also posted a 20 percent revenue jump to $5.60 billion
  • For the third quarter of 2022, net profit jumped 34 percent to $44 million, from $33 million in the same period last year
Business

Qatar sets up consular facility for World Cup fans needing help

In order to help football fans who lose their passport or get arrested, Qatar has opened a World Cup consular...
  • According to Mexico's ambassador, it is expecting more than 70,000 fans and will have "an important number" of diplomats on duty during the 29 day tournament
  • Thousands of Saudi fans are also expected to pour across the border into Qatar, said Saudi ambassador Prince Mansour bin Khaled bin Farhan al-Saud
Interview

Saudi businesses increasingly go digital as technology offers superior customer engagement, better RoI

More Saudi businesses embrace engagement technologies to boost customer experience, increase RoI and enhance productivity, says Unifonic VP & MD...
  • More Saudi businesses are adopting engagement technologies to boost customer experience, increase RoI and enhance productivity, says Unifonic VP & MD Ibrahim A. Almohaimede
  • Each year, bad customer service costs businesses US$ 75 billion. However, regular buyers invest 67 percent more than the first-time buyers, the Unifonic official adds

‘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...

Company News

Latest News

Bahrain’s BIBF partners with UpGradelle to boost digital transformation

Manama, UAE--The Bahrain Institute of Banking and Finance (BIBF) has partnered with UpGradelle, a leading French-based consultancy firm, to develop...
Business

Social media plays key role in shaping online trading

"The rapid pace and fervor surrounding social media have introduced volatility into financial markets, leading to instances where stocks, particularly...
Opinion

Masdar and Emirates Steel Arkan partner to build green project to cut emissions

Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) has signed an agreement with Emirates Steel Arkan to develop a pioneering...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Middle East’s M&A activity outpaces global trends

With a focus on economic diversification and technological advancements, the region is setting a precedent for strategic growth and innovation...
  • With a focus on economic diversification and technological advancements, the region is setting a precedent for strategic growth and innovation in the post-pandemic era.
  • In 2023, state-owned enterprises and sovereign wealth funds spearhead robust dealmaking in energy, chemicals, and technology sectors within the regional M&A landscape.
Business

US markets up after Nvidia reports $9.2 billion in third-quarter profit

New York, United States - Wall Street stocks resumed their upward climb early Wednesday following strong results from artificial intelligence player...
  • The broad-based S&P 500 gained 0.6 percent to 4,566.85, while the tech-rich Nasdaq Composite Index jumped 1.0 percent to 14,337.20
  • Nvidia said it made a profit of $9.2 billion on revenue of a whopping $18.1 billion, compared with $5.9 billion in the same quarter a year earlier
Business

Crude prices slip 4% after OPEC+ reschedules Vienna meeting

The current output strategy by OPEC+ that saw nine members led by Riyadh to cut production in recent months to...
  • The 13 OPEC members led by Saudi Arabia and their ten partners led by Russia were due to decide on their output policy amid slumping crude prices
  • Traders worry that crude demand will slump, with concerns about the health of the global economy as China's post-Covid rebound stutters