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.

Shipping service connecting India, South East Asia with Saudi Arabia comes up

RIYADH, SAUDI ARABIA – VASI Shipping Pte Ltd has introduced a new shipping service IMS at King Abdulaziz Port in...

Business

Nakheel, Meydan join Dubai Holding

The Board of Directors of both Nakheel and Meydan will be abolished.

Business
Geostrategy

UAE, Türkiye discuss enhancing relations in various sectors

A UAE delegation led by Minister of Industry and Advanced Technology Dr Sultan bin Ahmed Al Jaber has concluded a...
  • A UAE delegation led by Minister of Industry and Advanced Technology was on a two-day visit to Türkiye aimed at enhancing cooperation
  • The visit included meetings with senior government and private sectors officials as well as a UAE-Türkiye Investment Workshop
Geostrategy

Biden holds joint investment talks with UAE, Israel and India

US President Joe Biden held joint investment talks Thursday with Israel, India and the United Arab Emirates, as Washington seeks...
  • The multilateral summit was convened in Jerusalem where Biden is on his first Middle East tour as president.
  • During the summit the UAE announced it would invest 2 million euros (dollars) in agricultural projects in India.
Economy

European stocks fall on fears of aggressive Fed interest rate hike

Europe's main stock markets slid at the open on Thursday, as a fresh spike in US inflation reinforced expectations of...
  • In initial deals, London's FTSE 100 index lost 0.3 percent to 7,138.54 points compared with the closing level on Wednesday.
  • In the eurozone, Frankfurt's DAX index slid 0.2 percent to 12,733.34 points and the Paris CAC 40 shed 0.4 percent to 5,977.05.
Business

Twitter down for short period in US, Europe, restored later

Twitter experienced a widespread but seemingly brief outage in the United States and parts of Europe on Thursday. The Downdetector...
  • The Downdetector website showed that outage reports spiked in the United States around 1200 GMT and by around 1245 GMT reports of outages to Downdetector were dropping off
  • Short term service disruptions on social media platforms happen periodically while long-term service outages on social media platforms are not common
Economy

ADFD, ADEX to give US$92m loan for Bahrain water supply project

Abu Dhabi Fund for Development and the Abu Dhabi Exports Office signed two loan agreements with the Electricity and Water...
  • AED will provide US$ 41mn to the Electricity and Water Authority in Bahrain to finance a water supply network project
  • ADEX will provide US$ 51 million for the project which aims to enhance the capacity of the water transmission networks
Business

Bank Muscat net profit up 5 percent

The bank said profits up despite lower net interest income and higher expenses.
  • The Bank said that net interest income from conventional banking and net income from Islamic financing reached 166.25 million riyals.
  • Operating expenses went up by 8 percent to 102.71 million riyals.
Business

UAE imports of Spanish fruit and vegetables top AED181m

Spain exported a total of 22,827 tonnes of fruit and 17,753 tons of vegetables to the UAE last year.
  • Spain exported a total of 22,827 tonnes of fruit and 17,753 tons of vegetables to the UAE last year
  • The Fruit Attraction 2022, the leading exhibition for the fruit and vegetable sector, is scheduled to be held from October 4-6 in Dubai
Business

Saudi Ports Authority reports 16% jump in cargo in June

Saudi Arabia has reported a 16 percent increase in cargo volumes to 27.1 tons in June 2022, according to the...
  • According to figures 27.1 million tons went through the nine ports managed by the authority, compared to 23.4 million in June 2021
  • According to Mawani, Saudi ports received 1,126 vessels in June, rising by 13.6 percent compared to the same period last year
Business

‘GCC inflation still remains lesser than UK’

The tighter monetary policy from US Fed and the continued raising of interest rate will have an impact in the...
  • The tighter monetary policy from US Fed and the continued raising of interest rate will have an impact in the GCC, says Simon Ballard, chief economist of First Abu Dhabi Bank.
  • Ballard believes GCC governments will need to address the underlying levels of spending support for consumer through continued stimulus packages
Business

Panasonic to build $4bn electric vehicle battery plant in US

Japanese electronics giant Panasonic said Thursday it will spend $4 billion to build a new battery factory in the United...
  • The factory will be Panasonic's second electric car battery operation in the United States, joining its facility in Nevada
  • The announcement comes with Tesla struggling to boost production, after unveiling two new factories in Germany and the US

Shipping service connecting India, South East Asia with Saudi Arabia comes up

RIYADH, SAUDI ARABIA – VASI Shipping Pte Ltd has introduced a new shipping service IMS at King Abdulaziz Port in...
Business

Company News

Latest News

Israel-Gaza conflict won’t impact Riyadh FII summit outcome: CEO

Riyadh, Saudi Arabia -- The tragic developments in Gaza won't have a huge impact on the overall outcome of the...
Business

Women break barriers for gender equality in finance

This culture should recognize and value the contributions of women and prioritize their growth and development. By highlighting successful women...
Opinion

Saudi Metrology Organization, Enterprise Singapore ink MoU on standardization

RIYADH, SAUDI ARABIA – The Saudi Standards, Metrology and Quality Organization (SASO) and Enterprise Singapore signed an MoU here, focusing...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

FAB net profit up $3.4bn in 9M 2023

The bank reported total revenue of $5.6 billion.
  • The bank reported total revenue of $5.6 billion, marking a 38% year-on-year growth
  • The return on tangible equity improved to 18.3%, with Group CET1 reaching 14.2% as of September 2023
Economy

Saudi Arabia’s economy to grow 3.2% from 2023-2026: Moody’s

Riyadh, Saudi Arabia -- Saudi Arabia’s economy is expected to grow by 3.2 percent on average between 2023 and 2026,...
  • The National Debt Management Center quoted the agency's forecasts that the non-oil sector will be strong in the coming year.
  • The Saudi government, according to Moody's, is making progress in implementing its comprehensive reform program.
Business

ACWA Power signs deals

It entered into seven solar, hydrogen agreements in China.
  • It signed the agreements, in solar energy, green hydrogen and water desalination, with Chinese firms during the third Belt and Road Forum held in Beijing
  • Chairman of ACWA Power said the agreements further advance the company's common interest of developing projects that support positive climate ambitions.