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.

Electronic Arts announces job cuts

The company is cutting about 5 percent of its workforce.

Reliance, Disney announce giant India media merger

The statement said Disney will hold 36.8 percent, Reliance will hold a 16.3 percent stake, and Viacom18 another 46.8 percent....

Business
Business

SALIC of Saudi Arabia to buy 35% of Olam Agri for $1.24bn

SALIC of Saudi Arabia, a subsidiary of the PIF, has said it will acquire 35.43 percent of Olam Agri Holdings...
  • SALIC said that the transaction is expected to be completed in 2022 after obtaining the required approvals from the relevant authorities
  • Olam is one of the world’s leading commodity trading and processing companies specializing in grains, oilseeds, rice, and animal feed
Business

Qatar blasts Netherlands coach for World Cup criticism

Qatar's top World Cup organizer has hit back at Louis van Gaal for criticizing the decision to hold the event...
  • Van Gaal said this week that it was "ridiculous" for the World Cup to be held in Qatar and that FIFA had only been motivated by money
  • Hassan al-Thawadi, chief executive of the World Cup Supreme Committee, said Arab fervor for football was "unparalleled"
Business

Weeklong real estate deals worth $1.85 billion recorded in Dubai

The real estate and properties transactions worth AED6.8 billion ($1.85 billion) were recorded in Dubai during the week ending 25...
  • A total of 330 plots were sold for AED1.65 billion and 1,653 apartments and villas were sold for AED3.42 billion.
  • A total of 124 properties worth AED210 million were granted between first-degree relatives.
Business

Saudi Arabia wants Trojena on global tourism map

Trojena is the new mountain tourism destination whose establishment was recently announced by Saudi Crown Prince Mohammed bin Salman.
  • Trojena aspires to redefine visitors’ and residents’ perceptions of mountain tourism
  • The project will be launched in 2026 and will be located in the heart of NEOM
Business

Multiply Group to invest AED367m in DEWA IPO

Multiply Group has said that it will be investing AED367 million into the Dubai Electricity and Water Authority's (DEWA's) initial...
  • The Group's latest investment follows a series of strategic acquisitions, creating a unique technology-enabled ecosystem to pursue growth across five vertical segments
  • Multiply Group benefits from a solid leverage-free liquidity position, having raised AED3.1 billion in a pre-listing private placement 16 times oversubscribed
Business

IATA shifts Annual General Meeting from Covid-hit China to Qatar

The International Air Transport Association (IATA) on Friday said its annual general meeting in June would be held in Qatar instead...
  • China is experiencing its worst coronavirus outbreak since the start of the pandemic more than two years ago, with Shanghai posting record-high case counts.
  • The IATA comprises some 280 airlines and air companies, accounting for 83 percent of global air travel.
Business

ADNOC to pay $342m in dividend

A similar amount was paid for the first half of 2021 in October.
  • The company said it increased its network in the UAE to 462 stations in 2021 and operationalized 40 stations in Saudi Arabia.
  • ADNOC Distribution recorded a net profit of AED2.2 billion and earnings before interest, tax, depreciation and amortization (EBITDA) of AED3.1 billion.
Business

Dubai basks in sparkle of giant diamond

A giant diamond nicknamed "The Rock" went on display for the first time in Dubai on Friday ahead of an...
  • The 228.31-carat pear-shaped gem, which was mined and polished in South Africa more than 20 years ago, is the largest white diamond ever to come to auction
  • After making its debut at Christie's Dubai, where it will be displayed from March 26-29, The Rock will travel to Taipei, New York and Geneva, where it will be auctioned on May 11
Business

How European rulings imperil flagship Google product

Lax laws and sweetheart deals are becoming a thing of the past for big tech firms, particularly in Europe where...
  • More than half of the world's websites use Google Analytics to help their owners understand the behaviour of users
  • Regulators in several countries agree with activists and have ruled Google Analytics incompatible with European data privacy regulation
Geostrategy

UAE-India CEPA to become operational in one month: Emirati officials

The UAE-India CEPA will simplify customs procedures, reduce logistics cost and open new opportunities for professional services.
  • The UAE-India CEPA will simplify customs procedures, reduce logistics cost and open new opportunities for professional services
  • The three-day logistics conference concluded with a valedictory session at the India Pavilion at Expo 2020 Dubai addressed by top officials from both countries

Electronic Arts announces job cuts

The company is cutting about 5 percent of its workforce.

Company News

Latest News

Gulf banks show resilient growth despite US Fed hikes

Major banks in the UAE and Saudi Arabia, including the Commercial Bank of Dubai and First Abu Dhabi Bank, reported...
Business

Saudi ministry inks economic pact with Alfaisal University

RIYADH, SAUDI ARABIA - The Kingdom's Ministry of Economy and Planning signed a deal with Alfaisal University to promote economic...
Economy

California sues oil giants, alleges environment, climate-risks deception

The US state of California sued five of the world's largest oil companies, alleging the firms caused billions of dollars...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Saudi-China Entrepreneurs Association and HKTDC sign MoU

Hong Kong - The Saudi Arabia-China Entrepreneurs Association (SCEA) has signed a Memorandum of Understanding (MoU) with the Hong Kong...
  • The MoU between SCEA and HKTDC aims to fortify commercial ties, particularly aiding startups and service providers eyeing global expansion.
  • The agreement was signed during the eighth Belt and Road Summit, a two-day event themed "Ten Years of Cooperation for Mutual Benefit".
Business

Aramco expands into South American retail market with Esmax buyout

Riyadh, Saudi Arabia -  Aramco, one of the world’s leading integrated energy and chemicals companies, has announced its agreement to...
  • The development aligns with Aramco's broader strategy of bolstering its presence in the downstream sector worldwide
  • The acquisition comes on the heels of Aramco's earlier purchase of Valvoline Inc.'s global products business in February 2023
Business

Google gives select companies access to its Gemini AI

The company plans to make Gemini available through its Google Cloud Vertex AI service, and will offer access to models...
  • The company is close to incorporating it into its consumer services and selling it to enterprises through Google Cloud
  • Google has also invested in generative AI companies Anthropic and Runway, gaining them as cloud customers