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.

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

Abu Dhabi Chamber and UAEIIC team up to boost investment

Abu Dhabi, UAE--The Abu Dhabi Chamber of Commerce and Industry has signed an agreement with the UAE International Investors Council...

Business
Business

BinDawood CEO resigns

Ahmad BinDawood stepped down due to personal reasons.
  • The company said it will announce any developments about the appointment of a replacement in due course
  • BinDawood Holding Co. is a leading grocery retail operator of hypermarkets and supermarkets in the kingdom
Business

Syria impounds bowls made out of 24 kilos of captagon

Syria has impounded 24 kilograms of captagon crushed and made to look like hummus bowls in one of the bizarre...
  • Captagon traffickers have in recent years found ever more imaginative places in which to conceal their drug, from fake oranges, to real hollowed-out pomegranates
  • Most of global captagon production originates in Syria, spurring a multi-billion-dollar industry that has made the drug the country's largest export by far
Business

Hotel occupancy rate points to UAE tourism recovery

The total number of hotel guests in the UAE rose to 10.5 million during the first half of 2022, up...
  • The total number of hotel guests rose to about 10.5 million during the first half of 2022, up from 8.3 million during the same period in 2021, latest research by Colliers suggests
  • The average daily rate of hotels in the UAE rose by 54% in Dubai, 35% in Abu Dhabi, 53% in Sharjah, 14% in Ras Al Khaimah, and 6% in Fujairah during the Q2 this year
Business

Saudi allows duty-free markets at air, sea and land ports

Riyadh, Saudi Arabia -Saudi Arabia has approved the establishment of duty-free markets, when necessary, at air, sea and land ports...
  • The decision will allow sales to travelers coming to and departing from the Kingdom. 
  • The Saudi Cabinet also reviewed the Kingdom's participation in G20 ministerial meetings, held in Bali.
Geostrategy

Saudi delegation visits Jordan’s Petra to enhance cooperation

A delegation from Saudi Arabia's Royal Commission for AlUla (RCU) visited Petra on Tuesday to advance cooperation between the two...
  • PDTRA Chairman briefed the Saudi delegation on the authority's efforts to develop tourism in Petra.
  • The delegation toured the rose-red city and looked firsthand at the Petra By Night program, the flying taxi and other projects.
Economy

Oman issues Treasury Bills worth $103 million for 91 days

Muscat, Oman---The government of Oman issued Treasury Bills worth Omani Riyal 40 million (US$103 million) for a period of 91...
  • The average accepted price reached RO 99.419 for every RO 100, and the minimum accepted price arrived at RO 99.270 per RO 100.
  • Treasury Bills are short-term highly secured financial instruments issued by the Ministry of Finance.
Market Report

Stocks push higher, but yen and euro under pressure

European and US stocks rose Tuesday, but gains were capped by economic slowdown fears and central bank efforts to contain...
  • European and US stocks rose Tuesday, but gains were capped by economic slowdown fears and central bank efforts to contain surging inflation.
  • Frankfurt rebounded somewhat despite news that Germany's industrial orders slumped for the sixth consecutive month in July.
Business

Shapoorji bags Majid Al Futtaim deal

The US$217.4m contract covers construction of 808 villa sets.
  • The projected date of completion of the projects at Tilal Al Ghaf is mid-2024.
  • A key highlight of Tilal Al Ghaf is its central recreational lagoon bordered by white sandy beaches.
Economy

ADJD notarization, authentication transactions jump in August

The Abu Dhabi Judicial Department (ADJD) has achieved a record surge in total notarization and authentication transactions carried out in...
  • There were 13,000 notarization and authentication transactions operations in August.
  • The availability of multiple electronic options for submitting and completing transactions remotely helped in the increase.
Geostrategy

UAE takes part in G20 Health Working Group in Indonesia

UAE's Ministry of Health and Prevention (MoHAP) has taken part in the G20 Health Working Group (HWG3) meeting in Indonesia...
  • The UAE ministry's delegation highlighted the importance of promoting solidarity among member states to better meet essential health needs.
  • The delegation said UAE is ready to cooperate with Indonesian officials to expand vaccine manufacturing and research hubs for pandemic prevention.

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

Company News

Latest News

Stocks extend global rally as US jobs data cements rate hopes

Hong Kong, China - Markets rallied again Monday following another strong performance on Wall Street, as below-forecast US jobs data fanned...
Market Report

$10 trn of ‘hidden costs’ on food and agriculture system per year, says UN

Paris, France - The food and agriculture system adds at least $10 trillion in "hidden costs" to the global economy every...
Economy

Expat remittances in Saudi Arabia fall to $2.6bn in September

RIYADH, SAUDI ARABIA - Remittances by expatriates in Saudi Arabia dropped 13 percent year-on-year (YoY) to US$2.6 billion (SAR 9.9...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

EDGE acquires 52% of ANAVIA

ANAVIA focuses on developing unmanned helicopters.
  • ANAVIA is a Switzerland-based company that specialises in versatile vertical take-off and landing systems of up to 750 kilograms.
  • ANAVIA’s unmanned helicopters can be adapted to EDGE's cross-complementary portfolio of air, land and maritime capabilities.
Business

Saudi Arabia launches second phase of Visiting Investor Visa

RIYADH, SAUDI ARABIA – The Kingdom’s ministry of investment and ministry of foreign affairs launched the second phase of issuing...
  • This service is offered to foreign investors as part of the Kingdom’s efforts to boost investment, consistent with Saudi Vision 2030.
  • The booking platform is affiliated with the Ministry of Investment “Invest Saudi,” through which the application will be processed.
Business

GASCO 9M 2023 profit up 16%

Operating expenses and financing cost edged lower.
  • GASCO noted an increase in revenue and financing income, along with higher share of results from associates.
  • In Q3 2023, net profit rose slightly by 0.4 percent to SAR 57.2 million from SAR 56.98 million in Q3 2022.