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.

Top U.S. stock indices drop for third consecutive day on Wednesday

The S&P 500 dropped for a fourth consecutive session on Wednesday, as Nvidia and other struggling technology names put downward...

Business

Tehran, Baghdad to launch maritime passenger transport line

TEHRAN, IRAN – Iran and Iraq will launch the first maritime passenger transport line within the next two months, an...

Geostrategy
Business

QLM profits fall by 33 percent in first nine months of 2022

The company had reported a net profit of $12.27mn for H1.
  • The gross written premium for the six-month period that ended on June 30, 2022 had increased by 33 percent to QR742mn.
  • QLM Life & Medical Insurance Company was established in 2018, and was listed on Qatar Stock Exchange last year, with a capital of QR 350 million. 
Business

Sheikh Khaled bin Mohamed bin Zayed meets CEOs of INPEX, BP

Energy security, enhancing partnerships were discussed.
  • The meeting discussed ways of harnessing opportunities in renewables and hydrogen.
  • The meetings deliberated on ways of expanding existing relationships to enable a more sustainable future.
Geostrategy

Ukraine blames Russian blockade for making grain export ‘impossible’

Russia's blockade of grain exports makes it "impossible" for fully loaded ships to leave port, Ukraine charged after Moscow claimed...
  • UN Secretary-General Antonio Guterres on Sunday expressed "deep concern about the ongoing situation regarding the Black Sea Grain Initiative.
  • The July deal to unlock grain exports signed between Russia and Ukraine and brokered by Turkey and the UN, is vital for easing the global food crisis.
Business

ConocoPhillips buys 6.25% in Qatar’s North Field South project

Project is part of the world's biggest natural gas reserves.
  • Energy Minister Saad Sherida al-Kaabi said Qatar was talking with Asian nations over a share in its campaign to increase annual production by 60 percent.
  • France's TotalEnergies and Britain's Shell both have 9.37 percent stakes in the field, while state-owned Qatar Energy has the remaining 75 percent.
Business

Arab Bank Group net income up 49 percent in first nine months of 2022

Compared to $271.7m in 2021, the net income at Sept end was $405.8m.
  • At the end of September 2022, loans were up by 4 percent from September 2021 level to reach $35.6 billion.
  • The deposits reached $47.8 billion, up by 3 percent from the 2021 level.
Business

DEWA commissions 389 11kV substations in Q3 of 2022

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has commissioned 389 11kV substations in Dubai in the third quarter...
  • DEWA now has 77 substations of 33kV in service, and 42,529 medium voltage (11Kv or 6.6Kv) substations.
  • These stations are mainly located at Wadi Al Safa Fifth, Al Merkad, Madinat Al Matar and Al Yalayis 1.
Geostrategy

Investment to tackle climate change falls in 2022, says UNCTAD

Cross-border investment in climate change mitigation and adaptation is projected to decline in 2022 against the backdrop of a global...
  • Mitigation projects accounted for 94 percent of international climate investments, whereas adaptation ones continued to lag far behind.
  • Developed economies made up two thirds of international project finance deals and greenfield investments in renewables.
Business

Lisbon Web Summit begins Tuesday, crypto specialists take prime spots

The conference attempts to bring together start-ups, investors, business leaders and agenda-broadening speakers –- linguist Noam Chomsky and heavyweight boxing...
  • More than 100,000 people are expected to gather in Lisbon for the four-day Web Summit, the first full-scale edition since 2019 following the disruption of the pandemic.
  • Conference organizer Paddy Cosgrave said there were "a lot of questions to be answered" about crypto, describing it as "largely smoke and mirrors".
Business

Ma’aden, Barrick Gold alliance get license to explore mining site in Saudi Arabia

Saudi Arabia's Ministry of Industry and Mineral Resources announced that Saudi Arabian Mining Company Ma'aden and Barrick Gold Ltd alliance...
  • The site attracted the interest of more than 20 local and international mining companies for an exploration license.
  • Ma'aden and Baric alliance have committed on spending over US$12 million to accelerate exploration at the Umm Al-Damar site.
Business

Sharjah Taxi to scale up its fleet of hybrid cars by 65 percent

Sharjah, UAE— Sharjah Taxi intends to increase the number of its hybrid cars running on both fuel and electricity. The...
  • The decision is in line with the Emirate’s vision to rationalize the use of energy, in accordance with its development goals and agenda
  • Sharjah Taxi had previously completed hybrid vehicle conversions towards 65% of its vehicle fleet in the Eastern Region, which now enjoys environmentally-friendly hybrid vehicles

Top U.S. stock indices drop for third consecutive day on Wednesday

The S&P 500 dropped for a fourth consecutive session on Wednesday, as Nvidia and other struggling technology names put downward...
Business

Company News

Latest News

Dubai International Chamber wins over 92 businesses in first 9 months of 2023

Dubai, UAE--Dubai International Chamber has attracted a total of 92 businesses, including 15 multinational companies and 77 SMEs, to the...
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...
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...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

From Changpeng Zhao to Do Kwon: The fallen kings of crypto

Seoul, South Korea - Binance boss Changpeng Zhao has become the most powerful cryptocurrency figure to fall in a two-year period...
  • Zhao stepped down as CEO of Binance -- the largest crypto exchange in the world -- after he and the company pleaded guilty on Tuesday to sweeping US money laundering violations
  • A celebrity in the crypto world with 8.7 million followers on X, Zhao became the richest known figure in the industry, and his net worth peaked at around $65 billion in 2022
Business

Does Anghami and OSN+ collab make financial sense?

A first of its kind in the region, the combination will offer consumers digital services of the best and latest...
  • The OSN Group will invest in Anghami at a valuation of $3.65 per share, 3.9x the stock's average price for the past month.
  • The combined entity will bring together over 120 million registered users and will be one of MENA’a largest streaming platforms.
Business

43% people in Saudi likely to make more cross-border payments in 2023

Riyadh, Saudi Arabia -- Nearly 43 percent of people in Saudi Arabia expect to send cross-border payments more frequently in...
  • The report also details that 40 percent of people in Saudi Arabia expect to receive more cross-border payments in the next year.
  • Notably, 88 percent of SMEs say they use an app to make cross-border payments — the second highest percentage across the markets surveyed.