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.

Supply chain challenges hit Ramadan retail rush

Logistical adaptations, strategic planning, and forecasting essential for addressing the unique demands of increased consumption during Ramadan, says Aramex's Tarek...

Business

CI Capital 2023 revenue $134m

The firm’s performance was fueled by strong growth.

Geostrategy

Ukrainian envoy to Turkey accuses Russia of stealing grain

Ankara has also offered to help secure maritime corridors for the export of Ukrainian grain therefore Russian Foreign Minister Sergei...
  • Ukraine's envoy to Ankara accused Russia of "stealing" grain and exporting abroad and said "we asked Turkey to resolve the issue"
  • Ankara has maintained a delicate balancing act with Kyiv and Moscow, acted as mediator in the conflict
Business

UAE-based Grubtech ramps up international expansion

Grubtech’s entry into Egypt’s $22 billion food service industry highlights its rapid growth since being established less than three years...
  • Grubtech’s entry into Egypt’s $22 billion food service industry highlights its rapid growth since being established less than three years ago
  • The company recently secured $13 million in Series A funding to support its aspirations to become the platform of choice for restaurants and cloud kitchens
Business

Dubai police arrest British national over $1.7bn tax fraud

A 52-year-old Briton has been arrested in Dubai over a $1.7 billion dividend-tax fraud case in Denmark, the Gulf emirate's...
  • They said the arrest was carried out in close cooperation with Emirati authorities and under a bilateral extradition treaty signed in March 2022
  • Danish authorities welcomed the arrest and said the Danish public has been defrauded a staggering amount and should not be possible for perpetrators to hide in the Middle East
Business

ENEC, KEPCO discuss cooperation in nuclear sector, ways to curb carbon emission

The Barakah Plant will help in the decarbonization of the power sector in the UAE and the Arab World
  • ENEC, KEPCO discussed prospects for future cooperation and exploring the opportunities available in the nuclear energy sector
  • The overall completion rate of the Barakah Plant is now over 97 percent and the first and second units are producing electricity
Business

Cybersecurity challenges keep Gulf region on its toes

About 25% of ransomware data theft attacks in the GCC are reported from the UAE followed by Saudi Arabia (15.5%),...
  • Home networks in the UAE were a magnet for cybercriminals who targeted systems, devices, and networks
  • Saudi Arabia's Wired Telecommunications Carriers and Other telecommunications sectors ranked as the most targeted industries within the country
Business

Shell to build fuel stations in Saudi

Wafi will also operate car services for Shell Global in  the kingdom.
  • Shell Global is the largest operator of gas stations and car services in the world.
  • Shell Global will transfer the latest expertise to Saudi to provide the latest technology.
Economy

US adds nearly 400,000 jobs in May, jobless rate 3.6 percent

Restaurants and hotels that were decimated due to Covid-19 showed a strong recovery in May, adding 84,000 positions, the data...
  • The jobless rate held steady at 3.6 percent for the third consecutive month
  • Employers have struggled to fill open positions, which has pushed wages higher
Economy

UAE economic growth in 2022 to reach 4.7 percent driven by oil and non oil sectors, says World Bank

UAE economy to improve in 2022 as the country's financial reserves reflect solid growth, a strong financial system and resilient...
  • The UAE in 2022 is keen on increasing the competitiveness of the private sector, said the Economic Advisor, Ministry of Economy.
  • The UAE government launched an economic stimulus package of AED 388 billion, said a senior official of the Ministry of Economy.
Business

Egypt looks to rake in $3.5bn in revenues from Suez Canal in H1

Egypt is expecting to rake in $3.5 billion in revenues from the Suez Canal during the first half of 2022,...
  • Revenues from the canal have increased by around 23 percent in May 2022, compared to the year earlier, to reach $657 million
  • Rabie attributed the high revenues to the growth of the global economy, the continued recovery of global trade, pricing policy and the Canal’s fee rise
Business

UAE firm to screen passengers at four Afghan airports for three years

The Taliban have tasked a United Arab Emirates firm with the security screening of passengers and luggage at Afghan airports,...
  • While some domestic and international flights are operating out of the capital's only airport, significant support is needed for major foreign airlines to resume a full service.
  • Abu Dhabi-based GAAC said it will manage screening at Kabul, Herat, Kandahar and Mazar-i-Sharif airports for the next three years.

Supply chain challenges hit Ramadan retail rush

Logistical adaptations, strategic planning, and forecasting essential for addressing the unique demands of increased consumption during Ramadan, says Aramex's Tarek...
Business

Company News

Latest News

Tadawul’s sukuk, bonds market sees $3.4bn negotiated deals in first 9 months of 2023

RIYADH, SAUDI ARABIA – The Saudi Exchange's (Tadawul) sukuk and bonds market witnessed 74 negotiated deals worth nearly SAR 12.77...
Market Report

West responsible for Ukraine war, Russia wants ‘New World’ says Putin

Moscow, Russia - President Vladimir Putin said Thursday that Russia's mission was to create a "new world" and blamed Western hegemony...
Geostrategy

X removes headlines from news articles shared by users

The changes brought a good deal of criticism, journalist Tom Warren of The Verge website posting on X: "It's the...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

EWEC, Masdar sign purchase pact

Power to be purchased generated from UAE's Wind Programme.
  • This strategic agreement will see EWEC procuring power from the UAE's utility-scale wind programme for the first time.
  • Located at Sila, Sir Bani Yas Island and Delma Island, the wind power farms have a generation capacity of up to 99 megawatts.
Business

ADNOC to deploy UAE-made drones

ADNOC's partnership with EDGE Group aimed at cutting emissions.
  • EDGE’s autonomous systems arm, ADASI, will repurpose its existing UAVs for ADNOC to deploy in its operations, to minimize emissions and enhance environmental performance.
  • ADNOC has allocated an initial $15 billion (AED55 billion) to lower-carbon solutions, new energies and decarbonization technologies.
Geostrategy

Qatar, Iran discuss cooperation in free zones, investment

DOHA, QATAR -  Minister of State and Chairman of the Board of Directors of the Free Zones Authority Ahmad bin...
  • The Qatari minister and the Advisor to the Iranian President discussed reinforcing cooperation between the two countries.
  • The Iranian leader and accompanying delegation toured the Free Zones at Ras Bufontas and Umm Alhoul Free Zone.