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.

Investcorp Capital names new CFO

Rohit Nanda, the new CFO, will take up his new job next month.

Business

UAE bolsters air cargo industry with launch of ‘CARDS’ data platform

Abu Dhabi, UAE--The General Civil Aviation Authority (GCAA) has launched the Cargo Data Reporting System (CARDS), which provides a range...

Business
Business

Saudi Central Bank updates its Regulatory Sandbox Framework

The bank took this step to promote the Regulatory Sandbox's involvement in the Financial Sector Development Program (FSDP), one of...
  • The bank took this step to promote the Regulatory Sandbox's involvement in the Financial Sector Development Program (FSDP), one of the key objectives of the Saudi Vision 2030
  • The Central Bank pointed out that the updated framework of the Regulatory Sandbox is open for both local and international applicants
Business

Taiba gives hotel contract to ACC

ACC won the $115m contract to build a hotel in Madinah.
  • The hotel will feature two towers connected by a bridge at the upper level with public and dining areas
  • Taiba posted a profit of $14.97 million during H1 of 2022, wiping out losses of $4.02 million for the same period of last year
Business

Jafza records 19% trade growth

The company overcomes the global economic headwinds.
  • Complementing this growth was an 18.6 percent increase in the number of new companies registered in the free zone
  • More than 25 percent of the new companies registered in the free zone belonged to the retail and general trading segment
Arts & Culture

End of the road for New York’s horse-drawn carriages?

Opponents say the horses live in cramped conditions, are often malnourished and dehydrated, get spooked by cars en route to...
  • Opponents say the horses live in cramped conditions, are often malnourished and dehydrated, get spooked by cars en route to the park
  • On Instagram, supermodel Bella Hadid urged lawmakers to pass Holden's legislation, calling the tourist rides "barbaric."
Business

Oil tanker briefly shuts down Egypt’s Suez Canal

According to website Vessel Finder, the 250-meter-long, Singaporean-flagged tanker is headed for the Saudi port of Yanbu.
  • A security source told media the Affinity V "ran aground in the Suez Canal at 19:15" (17:15 GMT)", adding that maritime traffic had been restored after "a short period of time"
  • Last year, super tanker Ever Given became wedged diagonally across the canal during a sandstorm, disrupting world trade for nearly a week
Business

Trump social network unwelcome in Google store over moderation issues

The internet giant made the statement after the Trump camp argued that it didn't know why its social network app...
  • The app breaks rules barring content that incites physical threats and violence, according to the tech firm
  • Truth Social would still be able to make its app available on its website or other online venues that don't involve Google's online shop
Business

Microsoft to set up biggest cloud data center in Qatar

Microsoft will set up a new cloud data center in Qatar, creating 36,000 jobs and adding more than $18 billion...
  • Many believe the Qatar operation would make the country more self-sufficient in information technology and speed up processing
  • Qatar, which will host this year's football World Cup, has been reaping record profits from its natural gas and oil in recent years, but has also been investing massively in divers
Business

UAE’s 10 largest banks reap second quarter windfall

Banks in the UAE held a 22.4 percent market share of the assets in the Arab banking sector, followed by...
  • The A&M research investigates size, liquidity, income, operating efficiency, risk, profitability, and capital of financial institutions.
  • A 19.5 percent rise in total interest income saw the banks post a net income growth of 24.4 percent.
Business

Ashok Leyland bags 1,400-bus order

This is the company's biggest UAE order for school buses.
  • The 55-seater Falcon bus and 32-seater Oyster bus - will be supplied from Ashok Leyland’s $50 million manufacturing facility in Ras Al Khaimah.
  • Most of the supplies will be made to Emirates Transport and STS Group, a statement from the company said.
Business

ADNOC awards $1.83 billion framework agreements for drilling-related services

The awards cover ADNOC’s onshore and offshore fields and will run for five years with an option for a further...
  • The awards cover ADNOC’s onshore and offshore fields and will run for five years with an option for a further two years
  • The framework agreement awards will support ADNOC’s requirement to drill thousands of new wells to expand its production capacity

Investcorp Capital names new CFO

Rohit Nanda, the new CFO, will take up his new job next month.
Business

Company News

Latest News

QatarEnergy inks second 27-year gas supply deal with China’s Sinopec

DOHA, QATAR - Qatar has agreed to supply Sinopec with natural gas for 27 years, the Gulf emirate's state-owned energy company said...
Business

Global energy meet discusses way forward to net-zero emissions

VIENNA, AUSTRIA – High-level representatives from the member states of the United Nations Industrial Development Organization (UNIDO), international organizations, experts...
Science

PureHealth partners with Dell to use AI in disease detection, data analysis

Abu Dhabi, UAE--PureHealth has joined hands with Dell Technologies to utilise generative artificial intelligence (AI) across healthcare services including in...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Saudi Arabian ministry issues 174 industrial licenses

RIYADH, SAUDI ARABIA – The Kingdom’s Ministry of Industry and Mineral Resources announced issuing 174 new industrial licenses in September,...
  • The total value of the 174 new industrial licenses in September is US$1.4 billion (SAR 5.3 billion).
  •  A total of 82 factories started production in September, with investments worth US$506 million.
Business

Empower 9M revenue $618m

Firm paid cash dividend of US$115 million.
  • For nine months period ending on September 30, 2023, Empower’s revenue and EBITDA grew by 9.5 percent and 7.5 percent respectively.
  • On an absolute basis, Empower reported a net profit of US$186 million (AED 685 million) for the nine-month period ending September 2023.
Business

BMW Q3 profit drops 7.7%

The company's Q3 net profit stood at $3.1 billion.
  • Revenues for the third quarter meanwhile rose 3.4 percent to 38.46 billion euros compared to the same period last year.
  • BMW chairman Oliver Zipse said the result "puts us right on track to meet the higher targets we set ourselves in August".