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.

Alcoa to buy Alumina in all-stock deal

The US aluminum producer will buy Alumina for US$2.2bn.

Business

WTO launches US$50m fund for women entrepreneurs in developing countries

ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund...

Geostrategy
Business

Al Arabia sets up e-commerce subsidiary

The subsidiary has a capital standing at SAR 50,000 and will offer multi-vendor business-to-consumer (B2C) products.
  • The subsidiary has a capital standing at SAR 50,000 and will offer multi-vendor business-to-consumer (B2C) products
  • Al Arabia will announce any material impact regarding setting up the new subsidiary once developed
Economy

WTI surges 6%, Brent 5% on Ukraine invasion by Russia

WTI rose 6.27 percent to $97.33, while Brent crude was up 5.24 percent at $103.06.
  • Traders will closely watch an OPEC+ meeting this week, led by Russia, where they will discuss plans for further output
  • The group has agreed previously to increase production gradually each month, but the Ukraine crisis could disrupt it
Business

UAE, Egypt sign reinsurance pact to bolster trade, economic cooperation

The agreement between the two state-owned firms will bolster the strong trade and economic cooperation, in addition to boosting export...
  • The agreement between the two state-owned firms will bolster the strong trade and economic cooperation, in addition to boosting export relations
  • The broad range of trade credit insurance amongst these two entities will mitigate risks they might encounter due to various political and commercial reasons
Business

Sukuks cast their spell beyond GCC markets

The total green sukuk market is worth more than US$15 billion, according to Refitiniv, with the Islamic Development Bank (IsDB)...
  • The Sukuk market continued to grow in 2021 due to new procedures put in place to improve standardization while more competitors entered the industry
  • A $100 million Sukuk fund was announced by GFH Financial Group (GFH) in February 2022
Business

Dubai Maritime City launches $38m infrastructure project

Dubai Maritime City (DMC), DP World’s purpose-built maritime hub, announced the launch of a major project worth AED140 million ($38.1...
  • The project is part of ongoing efforts to boost Dubai’s economy and enhance the efficiency of the logistics sector
  • It includes developing networks for deep sewage, stormwater, fire, irrigation, potable water
Business

Aramco discovers four natural gas fields in Saudi Arabia

The exploration of natural gas will further enhance Saudi's status as the premium exporter of energy sources.
  • The four major areas are in the Central Region, the Empty Quarter, the Northern Border Region and the Eastern Region.
  • The four fields where the natural gas has been found are named as are Shadun, Shehab, Um Khanasser and Samna.
Geostrategy

Jordan, Tunisia review bilateral ties, ways to boost health cooperation

The ministers of Jordan and Tunisia discussed ways to enhance bilateral ties, especially in health cooperation. Jordan’s Health Minister Firas...
  • Jordan’s Health Minister Firas Al Hawari met with Tunisian counterpart Ali Mrabet on Saturday in Amman
  • The ministers reviewed establishing health facilities such as cancer treatment centers and structures for monitoring communicable diseases.
Business

Algeria offers to supply Europe with gas amid Ukraine crisis

Algeria's state energy firm is ready to supply Europe with more gas in view of a possible decline due to...
  • Sonatrach is "a reliable gas supplier for the European market and is willing to support its long term partners in the event of difficult situations," Hakkar was quoted as saying
  • The Tansmed pipeline, jointly operated with Italy's ENI, has a capacity of some 32 million cubic meters per year -- four times that of the Medgaz pipeline to Spain
Economy

UAE non-oil foreign trade grows by 27 percent in 2021 to $517 billion

The government said the non-oil foreign trade figures of all emirates also witnessed growth individually in varying levels. The growth...
  • The value of national non-oil exports amounted to about AED 354 billion, setting a new record, exceeding AED 300 billion for the first time in its history.
  • China ranked first as the country's largest trading partner in 2021, accounting for 11.7 percent of the UAE's total foreign trade with the world.
Economy

Meta and UAE’s initiative for SBMs launch ‘Boost with Facebook’ program

Meta and The Entrepreneurial Nation program have launched ‘Boost with Facebook’ program in the Emirates that is aimed at attracting...
  • The Entrepreneurial Nation, Ministry of Economy's initiative, helps entrepreneurs set up as well as expand their ventures through PPP.
  • There are around 350,000 SMBs in the UAE, accounting for 86 percent of the labor force in the private sector and making up over 60 percent of GDP.

Alcoa to buy Alumina in all-stock deal

The US aluminum producer will buy Alumina for US$2.2bn.
Business

Company News

Latest News

ADNOC Gas signs US$450-550m Chinese supply deal

Abu Dhabi, UAE--ADNOC Gas today announced an agreement valued between $450 million and $550 million to supply Liquefied Natural Gas...
Business

Saudi non-oil activities push Q2 economic growth to 1.2%

Riyadh, Saudi Arabia -- Saudi Arabia’s real GDP grew by 1.2 percent in the second quarter of 2023, compared to...
Economy

Bank of China opens in Riyadh

It is expected to speed up the use of yuan in trade.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Rani R Raad is new CEO of IMI

International Media Investments owns and operates a portfolio of media outlets.
  • The company said Raad "has been brought in to steer IMI and its operating assets to their next stage of development
  • IMI owns and operates a portfolio of media outlets, including The National, CNN Business Arabic, Al Ain News
Economy

Global trade finance gap grew to record US$2.5trn in 2022: ADB

The Asian Development Bank survey found that rising interest rates, flagging economic prospects, inflation, and geopolitical volatility reduced the capacity...
  • With data collected from 137 banks, the survey is the world's leading barometer of trade finance health
  • The Russian invasion of Ukraine was seen impacting trade finance portfolios by some 60 percent banks
Business

Saudi Arabia leads as MENA region sees gaming boom

The MENA region's gaming revenue is set to hit $7.2bn in 2023, representing 17% of global gamers, while Saudi Arabia's...
  • The MENA region's gaming revenue is set to hit $7.2bn in 2023, representing 17% of global gamers, while Saudi Arabia's market may hit $1bn mark this year and triple by 2030
  • Spearheaded by Saudi Arabia, the region's gaming renaissance reshapes the global landscape, with Gamers8 festival showcasing the region's growing influence in the sector