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.

Olympics tech firm Atos posts huge loss

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

Business

Aramco CEO highlights collaboration with Beijing at forum in China

AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in...

Business
Business

GCC and UK set sights on signing Free Trade Agreement

Dr. Nayef Al Hajraf, Secretary-General of the GCC, voiced hope that the talks would lead to an ambitious Free Trade...
  • Dr. Nayef Al Hajraf, Secretary-General of the GCC, stressed the importance of the friendly relations between the GCC and the UK in serving the common interests of both sides
  • The joint statement, signed with British Trade Secretary Anne-Marie Trevelyan on 22nd June, laid the groundwork for launching the negotiations today
Business

OPEC+ has ‘means’ to deal with oil volatility: Saudi Arabia

Prince Abdulaziz bin Salman said in an interview with Bloomberg that OPEC+ has the commitment, the flexibility, and the means...
  • OPEC and 10 allies led by Russia a group known as OPEC+ agreed last month to raise production by 100,000 bpd in September
  • They had agreed to increases of almost 650,000 bpd in July and August, but the cartel has struggled to meet its quotas
Business

Retail sector in Gulf region stares at slump in business

Market experts predict a hard summer for the GCC retail industry as rising costs keep shoppers away from malls and...
  • With high inflation biting into family budgets, households have cut back on spending on essential commodities because of the high cost of goods
  • While the high-end malls and stores can fall back on their deep reserves of cash to get over the crisis, it is the small and medium-sized businesses that are struggling to survive
Business

Saudi Fisheries posts losses

The news of the loss of $6.4m in H1 led to a slide in firm's stock.
  • The news of the poor financial results dragged down the company's stock by 3.35 percent to SR37.55
  • The firm reported a 34 percent surge in revenue during the same period to reach $7.73 million
Business

Elon Musk subpoenas former Twitter chief Jack Dorsey

Records made public on Monday show Dorsey was served with a legal order to give Musk any communications or documents...
  • The company accuses Musk of contriving a story to escape a merger agreement that he no longer found attractive
  • Twitter co-founder Dorsey in November of last year ended his second stint as chief of the company and had voiced support for Musk taking it over
Business

Airfares increase as demand soars for flights to UAE

Demand for air tickets to destinations outside the UAE also surged in June and July, even as the travel costs...
  • Demand for air tickets to destinations outside the UAE also surged in June and July, even as the travel costs grew sharply due to rising oil prices and global inflation
  • Even as airfares to Dubai rise up to 40 percent, ticket costs are expected to decrease in September once all passengers living in the UAE return home
Market Report

Stocks slide as traders mull Fed outlook, gas price spike

World stocks sank Monday and the dollar rallied on concern the Federal Reserve will stick to its interest rate-hiking plans...
  • The euro is under pressure after Russia's Gazprom said late Friday that the Nord Stream pipeline would be closed for maintenance.
  • Oil slumped on speculation over an Iran nuclear deal that could ease a supply crunch caused by producer Russia's invasion of Ukraine, as well as recession fears.
Market Report

Foreign investors in Arab exchanges buy $119.6bn in 2021

The Arab Monetary Fund (AMF) said that the Abu Dhabi Securities Exchange (ADX) was ranked first in the Arab region...
  • ADX was ranked first in the Arab region in 2021, in terms of buy and sell transactions by foreign investors, says AMF
  • Buying transactions by foreign investors in ADX totaled $32.2 billion at the end of last year
Business

Hydrogen policy will help UAE in generating clean energy

Abu Dhabi Department of Energy (DoE) Monday announced that the development of its hydrogen policy and regulatory framework aims to...
  • The development of hydrogen policy and regulatory framework aims to accelerate the UAE's global leadership in low-carbon and clean hydrogen.
  • For the policy, the DoE is working with key Abu Dhabi government and private sector stakeholders.
Business

Abu Dhabi’s Al Bateen Executive Airport reopens after upgrade

Al Bateen Executive Airport has reopened following the successful completion of a major refurbishment project which will allow the airport...
  • Al Bateen Executive Airport has reopened after the completion of a major refurbishment project.
  • The work, completed in under 90 days, involved resurfacing and widening the 3.2km runway to accommodate wide-body aircrafts, among others.

Olympics tech firm Atos posts huge loss

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

Company News

Latest News

Saudi Arabia emerges as only bidder for 2034 World Cup

The Saudi bid comes one year after neighboring Qatar hosted the first World Cup in the Middle East, where the...
Business

Al Hilal ranks among world’s 50 wealthiest clubs

European clubs owned by Arabs continue to dominate the rankings, with Sheikh Mansour bin Zayed-owned Manchester City standing at the...
Business

US curbs on Iran’s oil exports may hit global portfolios

The US tightening sanctions on Iranian oil could have a negative impact on individual and institutional investment portfolios by disrupting...
Opinion
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Maaden posts net loss in Q3

Sales revenue was US$1.6 billion (SAR 6.22 billion) in Q3 2023.
  • Maaden posted a net profit of US560 million (SAR 2.1 billion) in Q3 2022.
  • Maaden posted net earnings of $183 million for the first nine months of 2023.
Business

NMDC, AD Ports Group ink MoU

The firms will continue to work closely on future global projects.
  • The agreement is in line with the objectives of UAE’s national strategy for industry and advanced technology.
  • The MoU will help the two firms to work together to strengthen the global maritime industry and support the economic growth of the UAE.
Business

BP rebounds with $4.9bn Q3 profit

The oil giant had posted a net loss of $2.2bn the previous year.
  • However, underlying replacement cost profit excluding exceptional items more than halved to $3.3 billion.
  • "This has been a solid quarter supported by strong underlying operational performance demonstrating our continued focus on delivery," said BP's official