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.

ADNOC partners with Viola Communications

They will utilize outdoor media-leasing spaces for advertising.

Business

European Union slaps $1.9bn fine on Apple over violation of rules

Brussels, Belgium - The EU on Monday hit Apple with a more than 1.8-billion-euro fine ($1.9 billion) for violating the bloc's...

Business
Business

Saudi Arabia licenses 109 new factories worth $667m in March

The total number of factories that began actual production in Saudi Arabia reached 261 in March, with investments reaching $1.6...
  • With the new licenses, the total number of factories across the country is now 10,489
  • Meanwhile, the total number of workers in these licensed factories stands at 3,497
Business

AMF signs MoU with Afreximbank

Buna and PAPSS will act as payment gateways that link the Arab region to the African continent
  • Buna and PAPSS will act as payment gateways that link the Arab region to the African continent
  • The collaboration will support the growth of trade and investments between the Arab region and Africa
Business

Meta renews bid for Giphy

Britain's competition authority had stopped the FB-Giphy merger.
  • Created in 2013, Giphy — a platform and search engine for GIFs — has some 700 million daily users
  • Britain’s competition authority found Meta’s proposed takeover of Giphy would give it too much market share
Interview

GCC FMCG market faces headwinds

Certain FMCG companies benefited from the pandemic since people spent more time at home baking and spending time together. As...
  • Rising worldwide raw material and transportation costs have put pressure on FMCG profits
  • The current global issues caused by rising oil prices is also impacting consumers and prices
Business

Global markets slide on Fed chief’s warning

Global stock markets slid Friday after the Federal Reserve warned of an aggressive tightening of monetary policy to tame runaway...
  • Frankfurt and Paris stocks were down almost two percent in late afternoon deals while London lost one percent
  • In Asia earlier, Tokyo stocks slid more than 1.5 percent even as inflation data from Japan was in line with market expectations
Business

ADNEC’s launches, successes in 2021

The company said it added about $653m to Abu Dhabi's economy.
  • The company said it made significant investments and expanded its mandate to the leisure tourism sector, which contributed to a strategic approach to diversifying the portfolio.
  • In collaboration with SEHA, ADNEC was a key player in delivering critical support for Abu Dhabi and the UAE in mitigating the impact of COVID-19, the company said.
Business

Tadawul sets up SAC

The stock exchange established Shariah Advisory Committee.
  • The committee consists of representatives from the Kingdom’s largest financial institutions, who will work towards a unified Shariah-compliant rulebook
  • The committee will also undertake the responsibility of overseeing and approving the list of Shariah-compliant listed companies on a periodic basis
Business

Dubai records weeklong real estate transactions worth $1.71 billion

About 2,145 real estate and property transactions worth AED 6.3 billion ($1.71 billion) were conducted in Dubai during the week...
  • A total of 250 plots were sold for AED1.12 billion, and 1,436 apartments and villas were sold for AED3.2 billion.
  • The top transactions were a land sale in Hadaeq Sheikh Mohammed Bin Rashid for AED96 million, and another plot of land that was sold for AED52.5 million in Palm Jumeirah.
Business

China dumps 15 coal plants abroad after Xi pledge: study

More than a dozen Chinese coal power projects overseas were cancelled after a ban last year on funding such plants,...
  • China is the world's biggest emitter of the greenhouse gases driving global warming
  • The cancelled projects would have generated 12.8 gigawatts of electricity -- or the total power generation capacity in Singapore, the think tank added
Business

Twitter weighs ‘poison pill’ to hold off Elon Musk

The so-called "poison pill" Twitter has proposed to use against Elon Musk's potential hostile takeover is a mechanism with a...
  • To halt a takeover, the board plans to activate the pill if the Tesla CEO comes to own more than 15 percent of Twitter
  • The "poison pill" was invented 40 years ago by business lawyer Martin Lipton to counteract a wave of hostile takeovers on Wall Street

ADNOC partners with Viola Communications

They will utilize outdoor media-leasing spaces for advertising.
Business

Company News

Latest News

China grants Approved Destination Status to Saudi Arabia

RIYADH, SAUDI ARABIA – China on Tuesday granted Approved Destination Status (ADS) to the Gulf Kingdom. The bilateral agreement, signed...
Geostrategy

Alibaba plans to list subsidiary in IPO

It did not give a timetable for the move or how much it hoped to raise.
Business

UAE explores partnership with China in labor and human resources

Dubai, UAE - UAE and China explored opportunities for the two countries to cooperate and exchange experiences in areas related...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Iraq’s oil revenues hit nearly $9bn in Aug: Ministry of Oil

Baghdad, Iraq -- Iraq's oil revenues in August hit nearly $9 billion, according to the data issued by the Iraqi...
  • The $8.99 billion revenue came from crude oil exports of more than 106 million barrels, the country's Ministry of Oil said in a statement, according to the Iraqi News Agency.
  • The total quantities of crude oil exported for August from the oil fields in central and southern Iraq amounted to 105.236 million barrels.
Business

Rising demand for critical metals pose dilemmas for investors

PARIS, FRANCE - Soaring demand for the raw materials needed for the transition towards renewable energy is creating dilemmas for investors...
  • Demand for lithium, an essential component of car batteries, could increase ninefold between 2022 and 2050, said the International Energy Agency.
  • Lithium and other metals that the IEA calls “key to the clean energy transition” will be the topic of a summit hosted by the global energy watchdog in Paris.
Business

Masdar, PLN NP sign expansion pact

They will develop Phase II of Indonesia's Cirata project by up to 500MW
  • The initial 145MW phase of the innovative floating PV project, located in the picturesque Cirata reservoir in West Java, Indonesia, is expected to come online later this year.
  • Masdar opened an office in Jakarta, Indonesia, in 2021, to further strengthen links with key players within the region.