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.

Apple’s changes contradicts European rules, 34 firms complain

Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules...

Business

Energy-related global CO2 emissions hit record levels in 2023, says IEA

PARIS, FRANCE – Energy-related carbon dioxide emissions rose to a record level in 2023, but the growth slowed from previous years...

Science
Science

First private mission readies for launch to ISS

Takeoff is set for 11:17 am (1517 GMT) from the Kennedy Space Center in Florida on a SpaceX rocket.
  • Commanding the Axiom-1 mission will be former NASA astronaut Michael Lopez-Alegria, a dual citizen of the United States and Spain
  • He accompanies American real-estate investor Larry Connor, Canadian businessman Mark Pathy, and Israeli fighter pilot-turned-entrepreneur Eytan Stibbe
Business

Air travel recovery gathering steam as Covid restrictions eased: IATA

The accelerated growth recorded in February 2022 compared to a year ago, is helping passenger demand catch up to 2019...
  • The traffic of Middle Eastern airlines rose 215.3 percent in February compared to February 2021
  • This was well up compared to the 145.0 percent rise in January 2022, versus the same month in 2021
Business

Toshiba pauses spin-off plan

The Japanese firm will now weigh the possibility of going private.
  • It was the latest setback for the engineering giant, which was once a symbol of Japan's tech and business prowess
  • Toshiba has since then faced a series of scandals, financial troubles and shock high-level resignations in recent years
Business

Shell to lose $5 bn

Nations and their companies have axed business ties with Russia over Ukraine.
  • Shell is gradually withdrawing from Russia owing to the war due to the UK government policy.
  • Shell previously apologized for buying a cargo of Russian oil at a vast discount following the invasion.
Business

EU passengers can claim compensation for delays even outside Europe

EU travelers who book flights through a European airline can claim compensation in the event of a major delay of...
  • The European Court of Justice said that the entirety of a journey that was subject to a single reservation fell under the EU's rules on flight delays.
  • The court was hearing a case that involved a journey booked through German carrier Lufthansa for three passengers from Brussels to San Jose in California.
Business

EGA, Ma’aden tech cooperation

The two will explore potential collaboration in the aluminum value chain.
  • The two firms will also consider cooperation in managing by-products from processes in the aluminum value chain
  • EGA has developed its own aluminum smelting technology for more than 25 years.
Business

DFSA regime to provide whistleblowers enhanced legal protection

Enhanced legal protection will be provided to persons who report financial misconduct internally within the entities regulated by Dubai Financial...
  • DFSA regulatory regime for whistleblowing is the first of its kind to be introduced by a financial service regulator in the UAE.
  • The regime applies to all DFSA Regulated Entities operating in or from the Dubai International Financial Centre.
Business

dnata to expand cargo operations into Germany by acquiring Wisskirchen

dnata announced expansion of its European footprint through the planned acquisition of Germany-based Wisskirchen Handling Services (Wisskirchen). Subject to government...
  • dnata has executed agreements with the owner of Wisskirchen, Oliver Hellwig, to acquire 100 percent of the shares in the company
  • The acquisition is subject to approval by the Federal Ministry for Economic Affairs and Climate Action in Germany
Business

ADDC, Abu Dhabi University join hands for energy innovations

The Abu Dhabi Distribution Company (ADDC), a subsidiary of Abu Dhabi National Energy Company (TAQA Group), has signed a Memorandum...
  • The cooperation aims to promote ties between both entities through training programs and knowledge exchange
  • The agreement was signed at ADU’s main campus by Saeed Al Suwaidi, Managing Director, ADDC, and Professor Waqar Ahmad, Chancellor, ADU
Business

SFDA, SBA partner to create media content on health, food

The agreement aims to create joint media sponsorship opportunities that serve both sides and to establish specialized media publications
  • The agreement aims to create joint media sponsorship opportunities that serve both sides and to establish specialized media publications
  • The areas of cooperation include educating consumers on the safe use of cosmetic products, making television programs and providing visual and audio content

Apple’s changes contradicts European rules, 34 firms complain

Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules...
Business

Company News

Latest News

MODON inks $133 m pact

The pact will help manufacture vaccines in Saudi Arabia.
Business

First Saudi horror movie ‘Cello’ screened at cinemas across the Kingdom

RIYADH, SAUDI ARABIA -  Saudi cinemas began the screening of the horror and thriller movie Cello, with global participation of...
Arts & Culture

ITFC collaborates with Turk Eximbank for providing joint loan of US$277m

JEDDAH, SAUDI ARABIA - The International Islamic Trade Finance Corporation (ITFC), which is a member of the Islamic Development Bank,...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Ajman’s exports rise 19 percent in H1 2023

AJMAN, UAE – The Ajman Chamber of Commerce and Industry (ACCI) has revealed that the volume of exports from the...
  • Ajman’s total exports reached US$1.2 billion in H1 2023, compared to US$1.1 billion during the same period in 2022.
  • Ships and boats topped the list of exported products, followed by mineral oils, fish and steel products.
Market Report

Stocks fall after Federal Reserve says it may hike interest rates

Global stocks sank after the US Federal Reserve hinted it could hike interest rates again this year to tame inflation...
  • In a move dubbed a "hawkish hold" by analysts, the Fed held borrowing costs but indicated another hike is likely in 2023 to tackle US inflation.
  • Sweden's Riksbank and Norway's Norges Bank each raised their key interest rates by a quarter-point.
Geostrategy

RAKEZ team wraps up roadshow to boost trade in China’s Guangdong province

RAS AL KHAIMAH, UAE - A delegation from Ras Al Khaimah Economic Zone (RAKEZ), led by Group CEO Ramy Jallad,...
  • The RAKEZ delegation aims to foster deeper ties with local enterprises, prominent trade associations and key government entities.
  • The delegation hosted business forums across Guangzhou, Shenzhen and Dongguan cities, highlighting the prospects of the Middle East market.