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.

Microsoft to train Philippine women in AI

It will partner with local schools to provide the training.

Business

Musk says will ‘open source’ Grok chatbot, a rival to ChatGPT

Tech investors are increasingly in split camps on the development of AI and how the technology should advance. Companies such...

Economy

Asian markets mixed as US jobs data give Fed room to hike rates

Asian markets were mixed Monday following a steep drop on Wall Street in response to a forecast-topping US jobs report...
  • Hong Kong, Tokyo, Shanghai and Taipei all rose, but there were losses in Sydney, Singapore, Manila and Jakarta
  • US traders took flight after the closely watched non-farm payroll figures Friday, which showed more new posts created than expected
Economy

Commercial marinas to issue yacht sailing permits in KSA

Some commercial marinas in Saudi Arabia would be allowed to issue yacht sailing permits which would help develop cruises in...
  • Yacht sailing permits would help in developing and facilitating cruises in the Kingdom’s territorial waters
  • The initiative would ensure support for tourism development and enhance employment in the sector
Business

Saudi Arabia, Spain to strengthen partnerships in sustainable tourism

Spain’s experience and expertise in tourism has already helped Saudi Arabia and more Spanish businesses will hopefully join the leading...
  • Saudi Ministry of Investment of Saudi Arabia (MISA) on Sunday hosted a Spanish investment forum.
  • The forum took place on the sidelines of the 116th session of the United Nations World Tourism Organization in Jeddah.
Business

Financial inclusion enables access to health, education: Study

The study stresses the need for digitally delivered financial inclusion; and for using this as a platform to distribute health...
  • A Mastercard study stresses the need for digitally delivered financial inclusion; and for using this as a platform to distribute health and education services to the masses
  • Mastercard, the study reveals, has brought 500 million excluded individuals into the digital economy in 2020 and will include 500 million more by 2025
Business

Multiply added to FTSE GEIS

The inclusion will come into effect on June 20
  • FTSE GEIS is part of the FTSE Russell, a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide
  • It also provides a robust global equity index framework and includes over 16,000 large, mid, small and micro-cap securities across 48 developed and emerging markets globally
Business

Masdar of UAE to develop 4,000 MW of clean energy in Azerbaijan

Masdar has signed an agreement with Azerbaijan to develop clean and renewable energy projects in the country with a combined...
  • As per the agreement, 4,000 MW will be generated in the first phase, while the second phase will generate 6,000 MW
  • Masdar will develop solar projects with a capacity of 1,000 MW and 1,000 MW of onshore wind
Business

Google loses defamation fight against Australian politician

Australia's federal court ordered Google on Monday to pay more than $500,000 in damages to a politician after finding he...
  • While Google, which owns YouTube, had initially defended the case, the search giant eventually abandoned its defences
  • Justice Steven Rares found Google liable for the harm caused to Barilaro from December 2020 and ordered it to pay aggravated damages
Business

EDB to take part in Bonds, Loans & Sukuk Middle East

Emirates Development Bank (EDB) will participate in Bonds, Loans & Sukuk Middle East, the region’s largest gathering for the corporate...
  • EDB will use the platform to engage with stakeholders in the investment and development community
  • The bank is the first federal entity to be issued ratings by S&P and Fitch
Market Report

UAE, KSA bourses to stay range-bound until 2022-end

The volatility in oil prices will affect the markets. If there is a higher-than-expected decline, the markets may feel the...
  • The volatility in oil prices will affect the markets. If there is a higher-than-expected decline, the markets may feel the heat, Junaid Ansari of Kamco Invest tells TRENDS.
  • Higher interest rates are expected to benefit banks in the region that account for the second-biggest sector in the region by market cap
Economy

Egypt to sign wheat-for-goods swap deal with India to fight shortage

Moses Elhy met with the Indian ambassador to Egypt on Wednesday to discuss the potential swap agreement for 500,000 tons...
  • Moses Elhy met with the Indian ambassador to Egypt on Wednesday to discuss the potential swap agreement for 500,000 tons of wheat
  • The Egyptian government has also in talks with the UAE, the US and western Europe in a bid to ease potential shortages

Microsoft to train Philippine women in AI

It will partner with local schools to provide the training.
Business

Company News

Latest News

Saudi Arabia’s Tabuk region produces over 28m roses annually

TABUK, SAUDI ARABIA - The Tabuk region's agricultural sector is making steady progress towards achieving the goals of Saudi Arabia's...
Business

El Nino forced sugar price to hit 13-year high in September, says FAO

Paris, France - Global sugar prices soared to their highest level in almost 13 years in September as the El Nino...
Economy

Aramco’s Luberef resumes bitumen exports after 20 years

RIYADH, SAUDI ARABIA - King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa onboard bulk...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Luxembourg, EU’s richest country, grapples with housing crisis

Luxembourg, Luxembourg -- Luxembourg's residents may be classified as the wealthiest in the European Union, but the sky-high cost of buying...
  • In the capital city, new-build flats sell for around $1,300 per square foot and older ones go for 10,700 euros. The average cost of a house is 1.5 million.
  • Housing crisis has become the number one concern in the Grand Duchy of 660,000 people -- smaller than Rhode Island, the smallest US state -- as it goes to the polls on Sunday.
Business

Saudi Arabia’s cement sales fall by 8.5 percent in September

Riyadh, Saudi Arabia -- The aggregate sales of 17 Saudi cement producers decreased by 8.5 percent to 4.1 million tons...
  • Locally, eight market players reported better sales, led by Al-Safwa Cement Co. with a 20 percent year-on-year (YoY) surge.
  • Six companies exported 183,000 tons of cement in September. Saudi Cement led the way with around 128,000 tons of exports.
Business

Saudi MATARAT inks pact with Brazil’s Union of Airports

Rio de Janeiro, Brazil - The Saudi MATARAT Holding Company signed Wednesday a memorandum of understanding (MoU) with Brazil’s Union...
  • The agreement aims to enhance cooperation and integration between the two parties in aviation and airport management
  • The signing of the MoU took place on the sidelines of the Saudi-Brazilian Aviation Conference in Rio de Janeiro