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.

Nissan plans self-driving taxi service in Japan

It has been testing self-driving mobility services since 2017.

Business

WTO approves services trade rules, overcoming objections

The set of rules will streamline authorization requirements and ease procedural hurdles faced by businesses, according to a press release....

Geostrategy
Business

KSA is Austria’s main trading partner in Gulf: Official

The commercial exchange between Saudi Arabia and Austria has grown from around SAR 1.8 billion ($479 million) in 2005 to...
  • The commercial exchange between Saudi Arabia and Austria has grown from around SAR 1.8 billion ($479 million) in 2005 to almost SAR 3.3 billion in 2020.
  • An Austrian delegation of companies specialized in various economic, industrial, agricultural, tourist and other sectors visited the Asharqia Chamber.
Interview

GCC retail electronics set for boost as buyers return

The retail electronics sector has proliferated in GCC countries, with demand rising not only due to the urge to own...
  • In 2020, the global consumer electronics market was expected to generate revenues of $1.4 bn, with a CAGR of 4.6%
  • The retail electronics market reached over $1 bn globally in 2022, and is expected to grow by 1.82% annually
Business

Binance awarded specialist license by Dubai’s Virtual Asset Regulatory Authority

Under the Virtual Asset Regulatory Authority (VARA) initial regulatory phase, Binance will be permitted to extend limited exchange products and...
  • Under the Virtual Asset Regulatory Authority (VARA) initial regulatory phase, Binance will be permitted to extend limited exchange products and services to pre-qualified investors
  • The VARA issued Virtual Asset Exchange License ensures Binance will be able to operate its regional business from Dubai in the newly announced regulatory ecosystem
Business

NDMC of Saudi Arabia closes $2.75bn worth March sukuk

Saudi Arabia’s National Debt Management Center has closed the March 2022 issuance of Saudi riyal-denominated sukuk, valued at SR10.3 billion...
  • The issuance is divided into two tranches of SR3.5 billion and SR6.8 billion each
  • The first issuance matures in 2030 while the second one will mature in 2034
Business

Fintech opens center in Riyadh

It is a first-of-its-kind center in King Abdullah Financial District.
  • This follows an increased number of fintech companies in the region
  • Saudi had witnessed a massive jump in venture capital investments in the fintech sector
Business

Saudi Electricity Co. posts 375% jump in net profit to $3.84bn

The Saudi Electricity Co. has posted a 375 percent increase in net profit to $3.84 billion in 2021, according to...
  • The increase has been attributed to  continuous “implementation of regulatory and financial reforms in the electricity sector"
  • the company’s board has proposed an annual dividend payout of SR0.7 per share
Geostrategy

Israel to start direct flights to Egypt’s Sharm el-Sheikh in April

Israel is to launch direct flights to Sharm el-Sheikh on Egypt's Red Sea coast next month, in an expansion of...
  • The new air link had been discussed in September between Israeli PM Naftali Bennet and Egyptian President Abdel Fattah al-Sisi during Bennet's visit to Egypt last year.
  • Bennett said Israel was "opening up to the countries of the region and the basis for this longstanding recognition is the peace between Israel and Egypt".

Construction of 230 MW Masdar solar plant in Azerbaijan begins

Renewable energy company Masdar announced the formal start of construction for its 230-megawatt (MW) Garadagh Solar PV Plant in Azerbaijan,...
  • Masdar signed agreements to develop the Garadagh project, located nine kilometers northwest of the Alat settlement, in April last year.
  • The project will help generate half a billion kilowatt-hours of electricity annually, enough to meet the needs of more than 110,000 houses.
Business

Etisalat to up stake in Mobily

This comes as Etisalat aims to expand its footprint in Saudi Arabia.
  • Etisalat Group currently holds a 28-percent stake in Saudi-listed Mobily and it plans to see this going up to 50 percent
  • The Abu Dhabi-based firm, formally known as Emirates Telecommunication Group Co., has proposed a price of SR47 per share ($12.5)
Business

ADNIC to pay $62m in dividends

The year 2022 marks the 50th anniversary of the company.
  • Sheikh Mohamed bin Saif Al-Nahyan, Chairman of ADNIC, said the distribution of 40 percent cash dividends demonstrated the company’s robust financial performance.
  • Futoon Hamdan Mohammed Al Mazroui was welcomed as the first woman to join the company's Board of Directors.

Nissan plans self-driving taxi service in Japan

It has been testing self-driving mobility services since 2017.
Business

Company News

Latest News

Online beauty products sales in MENA grow by over 20% in 1H 2023: study

Dubai, UAE - Online sales of beauty products in the MENA region experienced significant growth, surpassing global trends In the...
Business

UAE and OECD host regional forum on global minimum tax

Dubai, UAE – The United Arab Emirates and the Organization for Economic Co-operation and Development (OECD) on Wednesday hosted regional...
Economy

Global economy lost $32bn due to credit card frauds, says AMF

Abu Dhabi, UAE - The Arab Monetary Fund said Wednesday that global credit card fraud losses incurred by financial institutions...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

ACWA Power signs clean energy agreements with Chinese firms

Riyadh, Saudi Arabia/Guangdong, China -- Saudi-listed ACWA Power has signed MoUs with two Chinese firms to bolster collaboration in China...
  • The agreements were signed with state-owned China Southern Power Grid International Company and clean energy integrated solution provider MingYang Smart Energy Group Limited.
  • ACWA Power has a history of collaborations with Chinese companies such as installing the largest wind turbine in Central Asia with China Energy Engineering Corporation (CEEC).
Business

UAE banks’ investments reach $157 billion by July end

Abu Dhabi, UAE -- Investments of banks operating in the UAE reached AED 580 billion ($157.90 billion) at the end...
  • The data showed that investments of banks operating in the country increased by 18.8 percent on an annual basis, from AED 487.7 billion in July 2022.
  • On a monthly basis, investments of banks increased by 0.91 percent, from AED 574.3 billion in June 2023.
Business

Saudi capital market assets under management rise by $14bn in Q2

Riyadh, Saudi Arabia -- The total assets under management (AUM) held by capital market institutions licensed by Saudi Arabia’s Capital...
  • The total AUM held by licensed capital market institutions in Q2 2023 are the largest in years, according to Argaam.
  • Dom Capital led the way with a 100 percent increase in AUM in Q2 2023. Sidra Capital followed with a 195 percent rise.