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.

Middle East to receive millions of Chinese tourists lost in Covid pandemic

Dubai, UAE-- Outbound travel from China is estimated to almost double this year, compared with 2023 and will only be...

Business

Olympics tech firm Atos posts huge loss

The company posted a net loss of US$3.7 billion for 2023.

Business
Business

Saudi Arabia imports more cars in H1 than in whole of last year

Saudi ports have witnessed a growth in car imports during the first quarter of 2022, amid an increase in cargo...
  • The kingdom has imported 320,000 cars during the first half of 2022— equivalent to 57 percent of last year's total figure
  • The cars were mostly imported  from Japan, US, and South Korea, with Thailand, Germany, China, and India also playing a prominent role
Business

SALIC to set up storage center

Its CEO said the center will store imported edible oil.
  • The announcement was made in a Saudi-Malaysian private sector meeting in Riyadh, which discussed areas of cooperation and investment opportunities
  • The center, which will be constructed by the Public Investment Fund-owned firm, will serve as a distribution point for edible oils in the region
Business

Moderna to sue Pfizer, BioNTech over ‘copying’ of vaccine

Moderna has accused Pfizer and BioNTech of copying its technology to make Comirnaty , alleging that the partners infringed on...
  • Pfizer has said that it will "vigorously defend against the allegations of the lawsuit"
  • Moderna said it pledged in October 2020 not to enforce its Covid-19-related patents while the pandemic continued but less than two years later changed that stance
Business

UAE stock markets post gains of $2.26 billion on Friday

Dubai General Index (DFMGI) advanced 0.007 percent to 3,462.890 pts as blue-chip developer Emaar properties continued to hike, closing higher...
  • Realty and banking blue chips accounted for the lion's share of transactions that amounted to more than 14,700 worth around $454 Million over 353.7 million shares
  • Emirates NBD, Dubai Islamic Bank, and TECOM increased 1.84 percent, 0.84 percent and 0.41 percent respectively
Interview

Digital transformation in Gulf region not agile enough

It's crucial to identify the right working model to fix the challenges of digital transitions in the GCC, Nick Curran,...
  • It's crucial to identify the right working model to fix the challenges of digital transitions in the GCC, Nick Curran, Business Development Manager at Endava, tells TRENDS
  • This model should be based on an agile delivery method, reliable data and analytics skills, a strong alignment between product and technology functions, Curran adds
Economy

Agreement signed to implement Abu Dhabi Agri Genome Program

The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) signed a collaboration agreement with the Khalifa Centre for Genetic Engineering...
  • The program aims at applying the best international practices related to agricultural genetic research.
  • It aims to develop local spices of plant, animal and fish, to improve agricultural production and address the emirate's climatic and environmental challenges.
Business

Weeklong real estate deals worth $2.3 billion recorded in Dubai

Dubai recorded a total of 2,739 transactions with a combined value of AED8.4 billion ($2.3 billion) during the week ending...
  • The transactions included the sale of 274 plots for AED1.36 billion and 1,902 apartments and villas for AED4.35 billion.
  • The biggest deal recorded was the sale of a plot of land in Business Bay for AED110 million, followed by a piece of land in Wadi Al Safa 2 that went for AED38.75 million.
Economy

Stocks slump after Fed chair vows tough inflation fight

Stock slumped on Friday after Federal Reserve boss Jerome Powell pledged to act "forcefully" against soaring inflation in a battle...
  • Modest signs of slowing in the world's largest economy, easing price pressures spurred hope in financial markets the central bank might ease up on its interest rate hikes.
  • Powell made it clear that Fed policy and the benchmark borrowing rate would have to remain "sufficiently restrictive" to return inflation to its two percent target.
Business

DEWA organizes virtual seminar, 90 Turkish firms participate

Dubai Electricity and Water Authority (DEWA) has organized a virtual seminar with 90 leading Turkish companies in the energy and...
  • DEWA has a clear strategy and specific goals to increase the share of clean and renewable energy in Dubai’s energy mix
  • The company has launched pioneering projects and initiatives to diversify clean energy sources
Arts & Culture

Christie’s to auction Paul Allen’s $1bn art collection

The November sale of more than 150 pieces spanning 500 years of art will be "the largest and most exceptional...
  • Christie's said all proceeds will go to charitable causes, as per the wishes of Allen, who was an avid art collector, innovator and philanthropist.
  • The auction record for a private collection was set this spring by the US couple Harry and Linda Macklowe, with $922 million fetched in auctions conducted by Sotheby's.

Middle East to receive millions of Chinese tourists lost in Covid pandemic

Dubai, UAE-- Outbound travel from China is estimated to almost double this year, compared with 2023 and will only be...
Business

Company News

Latest News

Shell reports rise in profits

The company announces a buyback of shares worth $3.5bn.

ADX partners with HSBC to develop digital assets

Abu Dhabi, UAE - Abu Dhabi Securities Exchange (ADX) and HSBC Bank Middle East Limited are working together in the...
Business

ACWA Power 9M net profit up 22%

The company said higher operating income was the main driver.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

SABIC 9M net loss $277m

The company had posted a net profit of $4.32bn in 9M 2022.
  • In the third quarter period, the petrochemicals giant swung to a net loss of SAR 2.9 billion, against a net profit of SAR 1.84 billion in Q3 2022, Argaam reported.
  • SABIC cited stagnation in global demand for chemicals, which weighed on average selling prices, and led sales value to drop by SAR 7.3 billion year-on-year (YoY).
Interview

‘Business-based peace initiatives to ease tensions’

The Ukraine-Russia conflict and Gaza crisis are impacting investor confidence and economies in Jordan, Egypt, and Israel, Iyad Malas, CEO...
  • The Ukraine-Russia conflict and Gaza crisis are impacting investor confidence and economies in Jordan, Egypt, and Israel, Iyad Malas, CEO of Al Ghurair Group, tells TRENDS.
  • Iyad Malas highlights the need for digital transformation and the importance of public-private partnerships in digital investments, notably in infrastructure and healthcare.
Business

Iran ramps up oil production to 3.4m bpd, up from 2.9m bpd

Tehran, Iran-- Iran has ramped up its oil production to 3.4 million barrels per day (bpd), up from about 2.9...
  • Iran's oil minister said the boost in the production is in line with measures taken by the current government of the Islamic republic
  • According to officials in the oil sector, about 40,000 bpd have been added to the country’s oil production from the Sepehr and Jafir oilfields