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.

Europe gives accent to instant payments across the union

Brussels, Belgium - Bank customers will soon be able to transfer money across Europe within seconds after the EU adopted a...

WTO pushes for reform, warns multilateralism ‘under attack’

Speaking on the first day of MC13, WTO Director-General Ngozi Okonjo-Iweala highlighted a need to "reform the multilateral trading system"...

Geostrategy
Business

Inaugural session of Qatar-Nigeria Economic Forum begins

The Qatar-Nigeria Economic Forum kicked off in Lagos, the economic capital of the Federal Republic of Nigeria.
  • The Forum aims to enhance economic cooperation and review business opportunities between the two countries
  • A special focus will be placed on cooperation in the fields of manufacturing, construction, oil and gas and technology
Business

East Pipes of KSA gets $133m financing

East Pipes of Saudi Arabia has secured a Shariah-compliant working capital financing of $133 million from Bank Albilad.
  • The capital will be used to “finance the working capital of one the company’s projects”, the Dammam-based company said in a bourse filing
  • East Pipes, which joined the Saudi stock exchange earlier this year, was established in 2010 and specializes in manufacturing steel pipes
Business

World’s first robot citizen Sophia to attend Dubai audit conference

The humanoid robot Sophia, the world's first robot citizen, will arrive in Dubai on Tuesday, March 8, to participate in...
  • Sophia will attend largest smart conference for internal auditors, the 20th Annual Regional Audit Conference from March 7- 9.
  • Sophia became the world's first robot citizen after Saudi Arabia granted her citizenship in October 2017.
Business

Tadawul posts 17% jump in net profit to $157m in 2021

Tadawul Group has posted a seventeen percent jump in net profit to $157 million in 2021, according to a bourse...
  • There was an 8 percent rise in revenue to SR1.17 billion during the year due to “solid growth in trading services, post-trade services
  • With strong earnings, the company’s board proposed an annual dividend payout of SR3 per share
Business

Shurooq picks acting COO

It has appointed Ahmed Obaid Al Qaseer to the post.
  • Al Qaseer is expected to continue the concerted efforts to achieve Shurooq’s vision of developing world-class projects
  • The new acting COO is also expected to bolster efforts to drive national and foreign investments into the emirate
Science

Jordan inventors use TechWorks to realize dreams

TechWorks is a Jordanian platform aimed at bringing together youth, ideas and resources to jump-start innovations.
  • Set up in 2018, TechWorks says its mission is ‘to plug into entrepreneurial and innovation ecosystems’ and turn ideas into reality
  • Affiliated with a foundation set up by Crown Prince Hussein, it is equipped with technology such as 3D printers
Geostrategy

Russia threatens Ukraine ‘statehood’ as sanctions tighten

Since Russia's invasion 10 days ago, the economic and humanitarian toll of the war has spiraled, sending more than one...
  • Russia has threatened a wider war if a no-fly zone is set up by any Western power
  • Ukraine has received weapons, ammunition and funds from its Western allies
Business

Iran seeks barter trade with Pakistan to strengthen ties

The option of barter trade was available to cement the mutual relationship between Iran and Pakistan, an Iranian envoy has...
  • The Consul General of the Iran has stressed the need for his country to sign a barter agreement with Pakistan
  • Hamid Reza Ghomi said he was eying such a deal between the Pakistan Chambers of Commerce and Iranian provinces
Business

Umm Al Qura inks $800m deal

The project will see an investment of SAR3 billion ($800 million).
  • The development of Masar destination has reportedly been planned according to a modern concept
  • It is based on complementary and interrelated foundations, including environmental and urban aspects
Business

Visa, Master card suspend operation in Russia

The cards would continue to work on Russian territory because all payments in Russia are made through a national system...
  • Mastercard decided to suspend its network services in Russia while Visa will cease all Russians transactions over the coming days
  • Russia's central bank has warned Russians traveling abroad that they should carry alternate means of payment

Europe gives accent to instant payments across the union

Brussels, Belgium - Bank customers will soon be able to transfer money across Europe within seconds after the EU adopted a...

Company News

Latest News

Care secures $93.3m Murabaha facility

The long-term facility was obtained from Gulf International Bank.
Business

ADES prices IPO $3.33-$3.60 per share

The book-building process starts Sunday and run through Sept. 14.
Business

IMF head urges G20 leaders to deliver promised US$100bn for climate finance

New Delhi, India-- Appealing to G20 members to lead by example in delivering on the promise of US$100 billion per...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Global food prices drop in August: FAO

Led by staples other than rice and sugar, the Food and Agriculture Organization of the United Nations revealed that its...
  • Its Cereal Price Index dropped by 0.7% from July and International wheat prices dipped by 3.8% in August
  • But in contrast, the FAO All Rice Price Index climbed up by 9.8% from July to reach a 15-year nominal high
Geostrategy

UAE President, Indian Prime Minister discuss strengthening bilateral, trade ties

NEW DELHI, INDIA - UAE President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi met to...
  • The meeting was held on the sidelines of the 18th Group of 20 (G20) Heads of State and Government Summit in New Delhi.
  • The two sides also exchanged views on various regional and international developments of mutual interest.
Business

Jordan-ASEAN Economic Forum to be held in March 2024, says ACC

AMMAN, JORDAN - Chairman of the Amman Chamber of Commerce (ACC) Khalil Haj Tawfiq said the Jordanian Economic Forum with...
  • ACC will host the forum, in cooperation with Malaysia, Indonesia, the Philippines, Thailand and Sultanate of Brunei.
  • Trade exchanges between Jordan and ASEAN grew by 42 percent during 2022, compared to 2021, ACC's statistical data said.