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.

Sweden’s gaming group Embracer divests Russian assets

Stockholm, Sweden - Swedish gaming group Embracer, which owns the Borderlands franchise and the Tomb Raider license, announced on Thursday that...

Business

Brighter US economic outlook fuels global oil demand growth forecast

Rising fuel needs of ships rerouted away from the Red Sea also to increase demand, the International Energy Agency said....

Geostrategy
Opinion

Time to deliver decarbonization targets set last year

In the Middle East, the UAE and Saudi Arabia have been leading the decarbonization conversation with pivotal government initiatives that...
  • The number of companies establishing science-based targets for decarbonization had strongly increased since 2015, but it rose dramatically in the run-up to COP26
  • Executives are trying to pursue their decarbonization targets during a period of turbulence that has created historic levels of uncertainty and numerous difficulties
Geostrategy

US sanctions Russia’s defence sector, bans its gold import

United States is seeking to crack down on Russians seeking to skirt existing sanctions by "covertly" acquiring US, Japanese and...
  • The sanctions target state company Rostec and other firms critical to the defense industry.
  • The new moves blacklist 70 entities and 29 individuals, which freezes all the USA held assets.
Business

Saudi Arabia and Italy to explore investment opportunities

Saudi Arabia’s Ministry of Investment will host a high-level Italian business delegation on Monday to explore mutually beneficial investment opportunities....
  • An Italian delegation led by Italian Minister for Foreign Affairs Luigi Di Maio will visit the kingdom.
  • Private sector representatives from multiple organizations from both countries will participate in the forum.
Business

‘World’s most efficient AC’

Strata, Hyperganic and EOS will partner to build the energy-efficient AC.
  • Strata Manufacturing is a UAE-based Digital Factory pioneer, Hyperganic an AI-based engineering platform company EOS a German industrial 3D printing company.
  • Media reports said the partnership is a result of the Ministry of Industry and Advanced Technology’s efforts to facilitate industrial collaboration.
Business

SARCO, Christof Global sign MoUs

Renewable energy projects costing $301 million will be built.
  • The first project is to study an investment partnership to build a refinery producing the ‘biodiesel’ biofuel carbon.
  • The second project, aims to study the investment in the technology of slop oil to convert waste oil wells, oil from shipping ships.
Business

Alpha Dhabi ups stake in Aldar

After the deal, Alpha Dhabi becomes Aldar's parent company.
  • Aldar will be treated as a subsidiary in Alpha Dhabi's consolidated financial statements.
  • The additional shareholding came through the acquisition by Alpha Dhabi of an entity already holding shares in Aldar.
Business

Saudi Arabia and Italy to deepen investment ties

Saudi Arabia and Italy will jointly explore investment opportunities in sectors as wide as finance, infrastructure and mobility, tourism and...
  • The forum will focus on finance, infrastructure and mobility, tourism and culture, and renewable energy
  • It will serve as a platform for Italian investors to explore the support services available from Invest Saudi
Economy

Easy Metaverse norms to keep region ahead

The Gulf countries still need to develop more laws since the use of Metaverse and Blockchain will expand in only...
  • There is a need for assessing the role and impact of Metaverse and Blockchain in the GCC region, says MILLION CEO Julien Hawari
  • GCC countries still need to develop more laws since the use of Metaverse and Blockchain will expand in only some regions, he adds
Business

Algeria discovers ‘important’ gas deposit in Sahara desert

Algerian state energy firm Sonatrach announced Monday the discovery of an "important" deposit of gas condensate in the Hassi R'mel...
  • The deposit is estimated to have between 100 and 340 billion cubic metres of gas condensate
  • In May, the Algerian firm signed a memorandum of understanding with Italian giant Eni to boost gas exploration in the North African country
Business

‘Not enough GCC women employed in STEM sector’

Christine Harb, CEMEA Vice President of Marketing at Visa, believes that the workplaces should offer the right flexible benefits for...
  • Christine Harb, CEMEA Vice President of Marketing at Visa, believes that workplaces should offer the right flexible benefits for women to join
  • The role of the women at the technological workplaces in the GCC is evolving with Metaverse, Harb said

Sweden’s gaming group Embracer divests Russian assets

Stockholm, Sweden - Swedish gaming group Embracer, which owns the Borderlands franchise and the Tomb Raider license, announced on Thursday that...
Business

Company News

Latest News

Al Seer Marine receives new very large gas carrier, fleet size rises to 20

ABU DHABI, UAE - Al Seer Marine, a subsidiary of Abu Dhabi-based International Holding Company, has announced the takeover of...
Business

Funds raised by startups within TECOM Group’s in5 hub up 20%

Dubai, UAE -- in5, part of TECOM Group and an innovation and entrepreneurship hub in the region, has witnessed a...
Business

Tokyo shares tumble on concern war in Palestine may escalate

Chip-testing equipment maker Advantest sank 4.79 percent to 4,351 yen and chip-making equipment manufacturer Tokyo Electron gave up 3.84 percent...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Merger of Saudi Enaya and UCA okayed

The merger remains subject to regulatory approvals.
  • The two companies had signed a binding merger agreement through a share swap deal, under which UCA will issue a 0.837 common share for each issued share in Saudi Enaya.
  • On 29 April 2021, Saudi Enaya Cooperative and Amana Cooperative Insurance signed a merger agreement.
Business

Nakilat profit jumps 4.8%

The company's profit swelled to US$327 million in Q3 of 2023.
  • Its earnings per share (EPS) amounted to QR 0.21 as of Sep. 30, 2023, versus EPS of QR 0.20 for the same period in 2022
  • The company, in March, obtained approval to raise the ceiling for non-Qatari ownership in the company's capital to 100%
Business

Non-oil revenue boost shows GCC’s financial wisdom

The GCC nations exemplify financial prudence. Their continuous efforts to boost non-oil revenues, reform tax policies, and modernize and digitize...
  • GCC countries embark on a transformative economic journey, underpinned by national economic plans
  • The Gulf economies showcase resilience, recovering from the COVID-19 pandemic amidst global challenges