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.

Arab Bank for Economic Development in Africa expects financing to touch US$2.5bn

Abu Dhabi, UAE--The Arab Bank for Economic Development in Africa (BADEA) expects the bank's annual financing to reach US$2.5 billion...

Economy

TAQA, JERA sign pact with SATORP to develop plant in Saudi Arabia 

ABU DHABI, UAE – Abu Dhabi National Energy Company (TAQA), together with JERA Co., Inc on Thursday announced that they...

Business
Business

Abu Dhabi industrial sector registers 136 new licenses in H1

Abu Dhabi, UAE-- The registration of 136 new industrial licenses in the first half of 2022 points to a strong growth...
  • The number of  licenses transitioning to the construction phase reached 62, with the number of licenses having moved from under-construction to in-production reaching 44 factories.
  • The total value of Capital Expenditures (CAPEX) of industrial establishments that switched to in-production stage rose to AED 3.1 billion compared to AED 1.03 billion in H1 2021.
Science

IAEA approves operational safety at Barakah Nuclear Power Plant

An International Atomic Energy Agency team of experts said the UAE's Barakah Nuclear Power Plant (NPP) had strengthened operational safety...
  • The Operational Safety Review Team had concluded a five-day follow up mission to the Barakah NPP.
  • OSART missions aim to improve operational safety by independently assessing safety performance against the IAEA’s safety standards.
Science

UAE issues updated second NDC to reduce emission

The UAE Cabinet, headed by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, approved...
  • The new document outlines the country’s increased climate target of reducing greenhouse gas emissions by 31 percent.
  • The reduction target translates into an absolute emission avoidance of 93.2 million metric tonnes of CO2e.
Geostrategy

UN urges EU against fossil fuels in energy crisis

The UN urged EU countries on Monday to continue battling climate change and not resort to more fossil fuels in...
  • Moscow's invasion of Ukraine has seen the price of natural gas hit record levels, throwing the European Union economy into deep uncertainty.
  • Before the war, 40 percent of the EU's gas imports came from Russia.
Business

Costa Rica-UAE bilateral trade up by 292 percent since 2017: Minister

Abu Dhabi, UAE--Costa Rica's foreign minister Arnoldo Andre has said that the trade between his country and the UAE has...
  • For the year 2021, the total trade between both countries reached $49.1 million.
  • 37 Emirati companies have attended a Costa Rican trade fair to learn about the country's productive capacities and its export potential.
Business

27,100 new companies join Dubai Chamber of Commerce till Aug 2022

Dubai, UAE-- More than 27,100 companies have joined as new members of the Dubai Chamber of Commerce in the first eight...
  • Member exports and re-exports increased over 20 percent y-o-y to reach AED177 billion ($48.18 billion).
  • More than 476,000 Certificates of Origin were issued by the Chamber between January and August 2022, a growth of 9.8 percent compared to the same period last year.
Business

Gulf International Bank continues partnership with Beehive

The strategic partnership, which initially began in 2020, brought to market a new digital GIB financing platform to ensure swift...
  • The strategic partnership, which initially began in 2020, brought to market a new digital GIB financing platform to ensure swift and efficient access to finance
  • The platform is fully digital and includes a sophisticated online decision making and lending process to provide faster and more accessible financing
Business

AI-based call centers cut costs, ring in better KPIs

Conversational AI contact center deployment saves agents US$80bn in labor expenses by 2026, while global spending on it is expected...
  • Conversational AI contact center deployment will save agents US$80bn in labor expenses by 2026, while global spending on it may hit US$1.99bn by 2022, says a report
  • According to a Gartner estimate, the percentage of automated AI-powered interactions with human agents will rise to a whopping 10 percent by 2026
Business

Siemens bags Egypt project

The company will upgrade power distribution system in Alexandria.
  • Implementing advanced software solutions and automation devices will help Alexandria Electricity Distribution Company increase efficiency.
  • A total of 300,000 smart meters will be supplied, including the necessary hardware and software to establish an advanced metering infrastructure.
Geostrategy

UAE, Serbian Presidents discuss bilateral relations

UAE President Sheikh Mohamed bin Zayed Al Nahyan discussed with Aleksandar Vucic, President of Serbia, cooperation between their countries and...
  • The two leaders discussed a number of regional and global issues and developments of mutual concern.
  • The two leaders explored UAE-Serbia cooperation in investment, economic, trade, science, technology, food security, agriculture, among others.

Arab Bank for Economic Development in Africa expects financing to touch US$2.5bn

Abu Dhabi, UAE--The Arab Bank for Economic Development in Africa (BADEA) expects the bank's annual financing to reach US$2.5 billion...
Economy

Company News

Latest News

Are neobanks challenging traditional players in UAE?

While the digital revolution continues to unfold, the core of customer trust and regulatory frameworks stays unshaken, shaping the future...
Business

UAE Islamic Treasury Sukuks auction is a tremendous success

ABU DHABI, UAE - The United Arab Emirates, represented by the Ministry of Finance (MoF) as the issuer, in collaboration...
Business

SPCC signs two solar power purchase pacts with 1500MW capacity

Riyadh, Saudi Arabia - In a step towards bolstering Saudi Arabia's renewable energy initiatives, the Saudi Power Procurement Company (SPPC)...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Contracts worth $2.93bn signed at Taif Investment Forum

Taif, Saudi Arabia -- Several investment contracts for projects in Taif Governorate, worth over SAR11 billion ($2.93 billion), have been...
  • The contracts stipulate, among others, the establishment of the first phase of the space science fiction city Mars War, at a value of SAR 5 billion.
  • Also included is the establishment of an emergency information center, together with China Mobile company, at a value of SAR2 billion.
Business

Record number of patent applications filed globally in 2022, says WIPO

GENEVA, SWITZERLAND - Global patenting activity soared to new records in 2022, fueled by Indian and Chinese innovators, but an...
  • China, the US, Japan, Republic of Korea and Germany were the countries with the highest numbers of patent filings in 2022.
  • innovators from around the world submitted 3.46 million patent applications in 2022, marking a third consecutive year of growth.
Business

AD Ports Group acquires 10 offshore vessels for $200 million

Abu Dhabi, UAE -- AD Ports Group (ADPORTS) has purchased 10 offshore vessels for $200 million that will bolster offshore...
  • The investment in the diversified fleet with an average age of around nine years is significantly less than the industry average.
  • All ten vessels are expected to be delivered in Q4 2023, with financial consolidation taking place from Q1 2024 onwards.