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.

AstraZeneca to buy Amolyt for $1bn

It will pay $800 million upfront for the Lyon-based company.

Business

OpenAI partners with Le Monde and Prisa Media

Prisa Media chief executive Carlos Nunez called the OpenAI alliance a "step toward the future of news" where technology and...

Economy

Big Oil meeting with US govt cordial but no gas price fix

High prices at the pump are weighing on American consumers and damaging President Joe Biden's approval rating.
  • High prices at the pump are weighing on American consumers and damaging President Joe Biden's approval rating
  • Biden and the oil industry have an uneasy relationship, in part over the White House's efforts to restrict drilling in some federal areas
Business

Gulf airlines recoup losses, make profits after 2 years

The global aviation sector's losses, which rose to around S138 billion in 2020, dropped to nearly $42 billion in 2021....
  • Qatar Airways, a major GCC airline, reported profits of $1.54 billion during the fiscal year ending March 2022, compared to $4 billion loss in the previous year
  • The UAE airlines have recovered 92.9 percent of seat capacity compared to pre-pandemic levels, according to data released by OIG International
Economy

UAE gets 41% of all FDI projects to Arab countries in 2 decades

The UAE received 41 percent share of the entire foreign direct investment projects all Arab countries attracted between 2003 and...
  • The UAE received 41 percent share of the entire foreign direct investment projects all Arab countries attracted between 2003 and 2021
  • As per the Arab Investment Export Credit Guarantee Corporation Arab countries received a total capex of US$1.3trn over the last 19 years
Business

EIG, Q Properties sign gas deal

EIG will supply gas to Q Properties' Reem Hills project.
  • EIG will provide the Q Properties with services like feasibility, commercial, technical, conceptual designs and engineering.
  • EIG will also support the project during engineering phases for gas-related work on the Reem Hills luxury development.
Economy

‘Renewable energy is 20 percent of Jordan’s power output’

Jordan has the highest transition rates to renewable energy sources and electric vehicles, says the Secretary-General of the Arab Renewable...
  • Jordan has the highest transition rates to renewable energy sources and electric vehicles, says the Secretary-General of the Arab Renewable Energy Commission
  • The Secretary-General called upon Arab nations to develop their own renewable energy industries rather than importing foreign technology
Economy

Energy security vital for economic growth, says Saudi minister

Saudi Arabia's Minister of Finance Mohammed bin Abdullah Al-Jadaan said energy security is very important for the economic growth and...
  • Saudi Arabia's finance minister says energy security is important for the economic growth and prosperity of the world
  • The finance minister says energy supplies, economic development and climate change vital aspects of the world
Business

UAE to issue dual-tranche dollar benchmark size bonds

The UAE government has announced it will issue a dual-tranche US dollar benchmark size bonds with a 10-year tranche and...
  • The bonds are a 10-year tranche and a 30-year Formosa tranche.
  • The 10-year tranche will be listed on London Stock Exchange and Nasdaq Dubai, and the 30-year tranche will be listed on LSE, Taipei Exchange and Nasdaq Dubai.
Business

UAE listed firms to pay $9.36 bn cash dividend for 2021

Listed public joint stock companies have approved AED 34.4 billion ($9.36 billion) cash dividends for 2021, according to the Securities...
  • While AED34 billion earnings were distributed in cash, AED396 million were in form of stock dividends.
  • Banks are the largest distributors of profits, AED15.79 billion, followed by the telecommunications (AED11.7 billion) and the realty sectors (AED1.85 billion).
Business

Saudi Re bags A3 rating

The firm got top rating with a stable outlook from Moody's.
  • Saudi Re said that the ratings confirm its strong brand and market position in Saudi Arabia as the sole Saudi professional reinsurer
  • Saudi Re has initiated the process of increasing its capital by up to SAR 445.5 million ($119 million) to strengthen its capital base
Business

GCC and UK aim to boost trade beyond current figure of $34bn

The Gulf Cooperation Council (GCC) and the UK began negotiations in Riyadh to boost trade, which stands at $34 billion.
  • GCC Secretary-General Nayef Falah M. Al-Hajjraf met UK Trade Secretary Anne-Marie Trevelyan to launch the trade talks
  • The UK is the third-largest export market for the GCC, and the new trade negotiations are expected to benefit exporters from both jurisdictions

AstraZeneca to buy Amolyt for $1bn

It will pay $800 million upfront for the Lyon-based company.
Business

Company News

Latest News

SFD to provide US$20m loan to Central African Republic for development projects

MARRAKESH, MOROCCO - The CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, signed an additional US$20...
Business

Lufthansa to suspend Beirut flights amid Middle East tensions

The spokesman, who blamed the decision on the "current situation in the Middle East", confirmed information from two passengers who...
Business

Gold prices soar over 3% amid escalating Middle East conflict

Dubai, UAE - Gold prices surged over 3% on Friday, heading for their most robust weekly performance in seven months,...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Saudi business sector’s operating revenues at US$1.36trn in 2022, says GASTAT

RIYADH, SAUDI ARABIA - The business sector in the Kingdom reported a 24 percent rise year-on-year (YoY) in operating revenues...
  • Operating revenues are the cash revenues generated from core or other sub-activities, according to the General Authority for Statistics.
  • Manufacturing activities recorded nearly US$378 billion revenues, followed by the wholesale and retail trade at US$201 billion.
Business

Dubai records weeklong real estate deals worth $3.51 billion

Dubai, UAE -- A total of 1,659 real estate transactions worth over AED 12.9 billion ($3.51 billion) were conducted during...
  • The DLD report showed that 297 plots were sold for AED 5.08 billion, while 1,362 apartments and villas were purchased for AED 4.57 billion.
  • The total value of mortgaged properties for the week reached AED 2.37 billion.
Business

JPMorgan Q3 profit at $13.2bn

The bank’s revenues rose 22 percent to US$39.9 billion.
  • One of the biggest factors in bank’s rise in profit was the increased earnings in net interest income (NII).
  • NII is the gap between what the bank makes in interest in loans to clients compared with interest payments to customers