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.

Nationwide offers to buy Virgin Money

Nationwide has offered US$3.7 billion for Virgin Money.

Business

Toyota to invest US$2.2bn in Brazil

The automaker will beef up production of hybrid vehicles.

Business
Economy

Global stocks sink on rising rates and China lockdown

World stock markets mostly sank Monday on stubborn fears over the impact of rising US interest rates, surging inflation and...
  • Frankfurt, London and Paris each shed more than one percent nearing the half-way stage after Tokyo closed down 2.5 percent
  • Oil prices lost two percent on demand worries and the haven dollar rose, while bitcoin plunged to a 2022 low below $34,000
Business

Aramco shares up 3 percent

Oil prices continue to spike, beefing up energy companies.
  • The stock price slightly retreated to SR45.8 later in the day at 12:07 p.m. Saudi time.
  • Saudi Aramco now holds the second largest market valuation globally of SR9.15 trillion.
Arts & Culture

Abu Dhabi tourism department readies to launch summer campaign

The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) will announce its summer campaign at Arabian Travel...
  • Located in Hall 2 at Dubai World Trade Centre, Visit Abu Dhabi will take guests on journey of the top sites and attractions in the capital.
  • Visitors will be treated to live performances from the City of Music, the creative craftsmanship of Emirati artisans at the House of Artisans zone.
Business

Jeddah airport picks new acting CEO

Ayman Aboabah was appointed after the airport witnessed chaos.
  • Aboabah has 28 years of experience, where he had held several leadership positions including the vice president for operations at Riyadh Airports Co.
  • Several clips featuring the chaotic situation have gone viral on the internet, with people questioning why su.ch a situation happened at the newly built $9.6 bn airport.
Business

Inflation, geopolitics take toll on GCC businesses

Inflation spawns numerous hurdles as GCC business leaders struggle to find a way to surmount the difficulties aggravated by geopolitical...
  • Abudawood remarked that the ongoing supply chain issues would definitely impact expenses and consumer pricing
  • According to IMF Middle East and Central Asia Director Jihad Azour inflation averaged 14.8 percent in 2021 and is expected to remain at 13.9 percent this year
Videos

UAE and Egypt home to leading startups in 2021

The UAE eyes around 20 unicorns, the start-ups valued at $1 billion-plus each, by 2031. These high-value startups will be...
  • Dubai has set up a $100 million venture capital fund in order to provide financial support to fintech startup companies.
  • Startups affiliated with Hub71, Abu Dhabi’s global tech ecosystem, have bagged AED1.5 billion in investments since its inception in 2019 and created about 1,000 jobs.
Economy

Dubai ranked first globally in attracting greenfield FDI projects

The emirate attracted 418 greenfield FDI projects, Crown Prince of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said....
  • Both FDI projects and FDI job creation witnessed a significant increase of 36 per cent in 2021, with an estimated 24,868 jobs in 2021, compared to 18,325 jobs in 2020.
  • The United Kingdom was the biggest source of FDI, accounting for 27 percent of total share of the FDI capital, followed by the US, France and Germany.
Business

Flydubai posts 114% jump in passenger bookings in Q1

Flydubai has reported a 114 percent jump in passenger bookings in the first quarter of the year. The airline said...
  • The airline said it has operated 19,000 flights and carried 2.35 million passengers during the period
  • It also witnessed an increase in demand for connecting traffic with 43 percent of the passengers connecting to the carrier’s network
Business

Aafaq Islamic Finance picks new CEO

The company has appointed Hisham Hammoud to the post.
  • Hisham Hammoud is considered one of the pioneers in the banking and financial sectors
  • He has more than 25 years of experience in the fields of banking and Islamic banking
Business

Companies envision taxis flying above jammed traffic

Companies such as Archer, Joby and Wisk are working on electric-powered aircraft that take off and land vertically like helicopters...
  • Neighborhood parking garage rooftops or shopping mall lots could serve as departure or arrival pads for electric vertical take-off and landing aircraft
  • Commuters would make it the rest of the way however they wish, even synching trips with car rideshare services such as Uber

Nationwide offers to buy Virgin Money

Nationwide has offered US$3.7 billion for Virgin Money.
Business

Company News

Latest News

Huawei to invest $430m in Northern Africa over 5 years

Shanghai, China - Huawei has unveiled an ambitious five-year initiative that will see a total investment of $430 million dedicated...
Business

Qatar and Libya sign MoU to boost cooperation in civil aviation

Tripoli, Libya-- Qatar and Libya have signed a memorandum of understanding (MoU) to boost cooperation in the field of civil...
Business

UAE, KSA lead the way in Islamic fintech innovation

Islamic fintech assets will rise from 0.8% to more than 1 percent globally by 2025, driven by young Muslim demand...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

US to auction three new oil and gas leases in the Gulf of Mexico

WASHINGTON, US - President Joe Biden's administration on Friday announced it would auction three new oil and gas leases in the...
  • The move triggered a furious reaction from environmental groups who said the move would accelerate climate change.
  • The action was denounced by advocates of the fossil fuel industry as it reduced the number of lease sales planned by previous US administration.
Business

Credit Suisse expects Q3 loss

The bank said the loss could be as much as $2.2 billion.
  • Its exit from certain loan portfolios is expected to result in a $1.6 billion loss, Credit Suisse said in a first-half results statement
  • The winding down of certain management arrangements may result in an additional loss of up to $600 million, the bank added
Business

Cathay Pacific orders A320neo planes

The value of the deal is expected between $3.2 billion to $4.1 billion.
  • Financial details of the sale were not disclosed, though at current list prices the deal would be worth $3.2 to $4.1 billion
  • Airbus says the more fuel-efficient versions of the single-aisle A320 planes are the best sellers in the industry