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, AI to set up data-center project

It will cost US$100bn and will include an AI supercomputer.

Business

Huawei profit tops $12bn

The profits more than doubled compared to 2022.

Business
Business

German chancellor to visit Saudi seeking energy support

Scholz, whose two-day trip next weekend will also take him to Qatar and the United Arab Emirates, becomes the latest...
  • On Sunday, Scholz will meet with UAE President Sheikh Mohamed bin Zayed Al-Nahyan, and in the afternoon will hold talks with Qatari Emir Sheikh Tamim bin Hamad Al Thani.
  • German Economy Minister Robert Habeck already visited Qatar and the UAE in March in an effort to find alternatives to Russian gas,
Business

Switzerland to buy 36 US F-35 stealth fighter jets for $6.2 billion

Switzerland signed a controversial contract on Monday to buy 36 US F-35 stealth fighter jets at a cost of more...
  • Switzerland joins a growing number of European countries which have opted for the stealth multi-role combat aircraft, including Belgium, Britain, Denmark, Finland.
  • Swiss voters had narrowly approved in September 2020 spending 6 billion Swiss francs to replace the country's fleet of ageing fighter jets
Business

Record volume handled by Saudi ports in eight months: Mawani

Riyadh, Saudi Arabia---Saudi Ports Authority (Mawani) handled record tons of volume at the Kingdom's various ports from Jan-Aug this year....
  • Against the 187 million tons during the Jan-Aug period in 2021, Mawani said Saudi ports handled more than 212 million tons this year, an increase of 13.59 percent.
  • Saudi ports, which handle 90 percent of the Kingdom’s exports and 70 percent of its imports, received 538,265 cars between January and August,
Research

Treated sewage water improves wheat growth, production in UAE

A study by an Emirati researcher has shown that wheat growth can be accelerated and production improved using treated sewage...
  • The highest wheat productivity rate was achieved when using treated sewage water.
  • key factors that improve wheat quality are the fertility of the soil, which must contain important nutrients and the quality of irrigated water.
Economy

Dubai reduced carbon emissions by 21 percent in 2021

The Dubai Supreme Council of Energy had a virtual meeting in which it was revealed that Dubai had reduced carbon...
  • The Dubai Supreme Council of Energy in a meeting discussed increasing the share of solar energy.
  • The meeting deliberated waste recycling in power and water production, industry, ground transport and waste treatment.
Economy

Bahrain central bank’s $185m treasury bills oversubscribed 216%

Manama, Bahrain—Bahrain’s latest government treasury bills, valued at Bahrain Dinar 70 million ($185 million), have been oversubscribed by 216 percent....
  • The bills, carrying a maturity of 91 days, are issued by the Central Bank of Bahrain, on behalf of the Bahrain government.
  • The issue date of the bills is 21 September 2022 and the maturity date is 21 December 2022.
Economy

UAE financial restructuring body holds second meeting

The UAE finance ministry's Financial Restructuring Committee (FRC) recently held the second meeting of its Consultative Council.
  • The meeting discussed the development of the financial reorganization service.
  • It deliberated on the best ways to communicate relevant information about financial restructuring procedures.
Business

IHC acquires stake in Burjeel

The 15% stake in Burjeel will diversify healthcare investment.
  • IHC’s revenue grew by 121 per cent to AED21.93 billion in the first six months of 2022, compared to the same period last year.
  • The company invested AED7.3bn ($2bn) in the Indian conglomerate, Adani Group, and also acquired a 70 per cent stake in Arena, the global event structures and services company.
Business

Women complain of bias in accounting profession in MENA

In a diversity, equity, and inclusion (DE&I) study in the MENA accounting profession, 63 percent of women across each of...
  • The diversity, equity, and inclusion (DE&I) research study focuses primarily on gender, nationality, and ability within the MENA region
  • 83 percent of respondents with a disability and 53 percent of female respondents have left an employer due to a lack of DE&I
Business

APICO to list on Nomu

The Arabian Plastic will offer 1m shares at $7.19 per share.
  • According to a bourse filing, the offering coverage was 15.43x of the total shares offered during the subscription period
  • Yaqeen Capital, the financial adviser and lead manager, will finalize the required procedures with the Saudi Stock Exchange and will determine the date for listing of the shares

Microsoft, AI to set up data-center project

It will cost US$100bn and will include an AI supercomputer.
Business

Company News

Latest News

MIS net profit $7.1m in 9M 2023

Riyadh, Saudi Arabia -- Al Moammar Information Systems Co. (MIS) recorded a net profit of SAR 26.7 million ($7.1 million) in the...
Business

Samsung to add real-time translation to smartphone model

Samsung is the world's largest smartphone maker accounting for a fifth of global sales between July and September, as Apple...

NEOM opens London office as base for UK and European business

London, United Kingdom – NEOM, the sustainable regional development taking shape in northwest Saudi Arabia, has opened its first international...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

AstraZeneca Q3 profit swells

The profits nearly doubled on solid demand for cancer treatments.
  • Net profit soared almost 90 percent to $1.26 billion in the three months to the end of September compared with a year earlier
  • While overall sales grew, revenue from its Covid jab Vaxzevria slumped 98 percent in the first nine months of the year compared with the same part of 2022
Business

Dubai sets 75% renewable goal by 2050

The emirate’s solar energy capacity has increased by over 100 times in the past decade, and the cost of solar...
  • The Mohammed bin Rashid Al Maktoum Solar Park, the world's largest single-site solar park, demonstrates Dubai's commitment to solar energy.
  • The emirate is home to the Dubai Solar Institute, a world-class research center focused on solar energy technologies.
Business

Al Ansari 9M profit US$105m

The operating income of the group rose to US$234 million.
  • Al Ansari received shareholders’ approval for the proposed interim dividend payment of $81 million.
  • The second payment of the dividend of an equivalent amount will be disbursed in April 2024.