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.

Saudi Arabia takes part in global mineral and mining meet in Canada

RIYADH, SAUDI ARABIA – A delegation comprising several entities from the Kingdom’s industry and mineral resources' system participated in PDAC...

Business

Du, Samsung ink agreement

The two companies have signed a three-year partnership.

Business
Business

Oil prices drop below $100 on recession worries

Recession worries pushed the price of Brent oil briefly back under $100 on Wednesday, and the euro moved closer to...
  • Europe's benchmark crude oil contract, Brent North Sea, fell briefly under $100 per barrel in afternoon deals
  • Citi analysts have forecast that Brent could strike $65 later this year in the event of a prolonged worldwide economic downturn
Business

Middle East startups raise $1.8 billion in first half of 2022

During the first half of the current year, startups in the Middle East have succeeded in raising $1.8 billion, according...
  • The fintech sector remained the most capital attracting sector, raising nearly $1.7 billion and accounting for 34 percent of the total funding secured across all markets
  • Transport and logistics and e-commerce came in second and third, each raising respectively $1 billion and $501 million
Business

Tunisian street vendor serves success despite bureaucracy

Habib Hlila, 27, first set up a food van in the working-class Bab El Khadra district of Tunis in early...
  • Habib Hlila, 27, first set up a food van in the working-class Bab El Khadra district of Tunis in early April, selling sandwiches at the end of each day's fast
  • He quickly became a star of Tunisian street food, gaining a social media following as he used banter and theatrics to prepare his signature "El-Bey" sandwiches

Aramco expected to post $44bn profit in Q2: report

Al-Rajhi Capital which has analyzed the performance of all industrial sectors expects Saudi-listed companies to see mixed earnings in Q1...
  • Al-Rajhi Capital which has analyzed the performance of all industrial sectors expects Saudi-listed companies to see mixed earnings in Q1 2022, amid rising oil prices
  • The profit of the chemical giant Saudi Basic Industries Corp’s (SABIC) is forecast to slightly slip by 1 percent to SR7.6 billion
Business

Tokyo stocks rise on back of US Fed resolve to fight inflation

Tokyo shares opened higher Thursday after minutes from a Federal Reserve meeting showed that US central bankers are determined to...
  • The benchmark Nikkei 225 index rose 0.69 percent, or 179.41 points, to 26,287.06 in early trade, while the broader Topix index advanced 0.76 percent, or 11.15 points, at 1,867.12
  • The Tokyo market benefited from the overnight gains on Wall Street, but some investors might refrain from making major moves ahead of a national election this weekend
Business

Fuel prices drive demand for hybrid vehicles in UAE

While some buyers are opting for smaller compact SUVs and electric vehicles, others are putting their purchase decisions on hold...
  • UAE fuel prices jumped around 75 percent since January 2022. Super 98 petrol price increased to Dh4.63 ($1.26) per liter in July 2022 compared to Dh2.65 per liter in Jan 2022.
  • Rising petrol prices in the UAE are pushing small businesses and private individuals to switch from vehicle ownership to rentals.
Business

New multilateralism likely to define global trade in 2022: DMCC report

Global trade hit a record high of $28.5 trillion in 2021, with more growth expected in 2022. The future also...
  • Geopolitics will shape the trade landscape in the 2020s, building on new developments in regionalism, bilateral trade, and global investment flows.
  • Pent-up demand from the COVID-19 shock is already driving trade in goods; a rebound in trade in services is set to follow.
Business

Emerge, Miral to install solar energy at Abu Dhabi theme park

Emerge and Miral signed an agreement to deploy on-site solar energy systems at the SeaWorld Abu Dhabi theme park on...
  • The project will have a capacity of 8.2 megawatts (MW) with rooftop solar photovoltaic (PV) systems installed at the theme park.
  • Emerge will provide a full solution including design, procurement, and construction, as well as operation and maintenance services.
Business

European stocks bounce back after sharp losses on global recession fears

European stock markets rebounded on Wednesday, recovering some ground following sharp losses the previous session on fears of a global...
  • London's benchmark FTSE 100 index was up 1.8 percent around midday and the pound was mixed against main rivals.
  • Crude futures had slumped nearly 10 percent Tuesday, while Europe's main stock markets lost about three percent.
Economy

Sri Lanka appeals Russia for fuel and resumption of tourist flights

Sri Lanka is facing its worst economic downturn since it gained independence from Britain in 1948.
  • The Island nation has suffered months of blackouts, rampant inflation and critical shortages of food and petrol.
  • Russia and Ukraine were among the top sources of tourists for Sri Lanka before February's conflict began.

Saudi Arabia takes part in global mineral and mining meet in Canada

RIYADH, SAUDI ARABIA – A delegation comprising several entities from the Kingdom’s industry and mineral resources' system participated in PDAC...
Business

Company News

Latest News

Dubai’s tech ambitions take center stage at GITEX Global

Dubai, UAE - Global tech giants such as Google, Microsoft, Zoom and Huawei are among more than 6,000 businesses displaying...
Business

Presight AI, TOTM form joint venture

The JV will develop and deploy their combined proprietary technologies.
Business

Tech giants Foxconn, Nvidia announce they are building ‘AI factories’

The world's largest contract electronics maker, Foxconn -- officially known as Hon Hai Technology Group -- already plays a lynchpin...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

World must add or replace 80 million km of grids by 2040: IEA

Paris, France-- Achieving all national climate and energy goals will require adding or replacing 80 million kilometres of power lines...
  • The IEA said that unless policymakers act to improve and expand the world's electricity grids it could put reliable sources of electricity at risk
  • The report also identifies a large and growing queue of renewables projects waiting for the green light to be connected to the grid
Business

Sipchem 9M net profit down 67%

There was a 70% QoQ drop in net profit for the third quarter of 2023.
  • The lower profit was due to a decline in revenues on lower product prices, as well as a fall in sales.
  • In addition, the company's share of profits from investments in a joint venture and associates decreased, Argaam said.
Business

Qatar signs 27-year gas deal with UK’s Shell

Last year Shell inked a deal with QatarEnergy for a 9.4% stake in Qatar's North Field South project, the second...
  • Qatar will supply 3.5 million tons of gas a year under the deal, QatarEnergy said
  • The gas-rich country is set to raise its output of liquified natural gas by 60 percent