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.

Saudi Arabia announces major gas discovery in Jafurah

Riyadh, Saudi Arabia--Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz revealed on Sunday that an additional 15 trillion...

Economy

Chip giant TSMC shifts to Japan

The company produces half the world's chips.

Business
Business

Dubai International Airport world’s busiest for eighth consecutive year

Dubai International Airport (DXB) continues to be the world’s busiest airport by international passenger numbers for the eighth consecutive year...
  • Current forecasts indicate that traffic through DXB could reach 55.1m by the end of 2022.
  •  India retained its position as the top destination country for DXB by passenger volume, with passenger traffic for 2021 totaling 4.2m.
Business

Demand for natural gas has gone up 23% since 2011: GECF

Demand for natural gas has shot up 23 percent during the last ten years, according to Secretary-General of the Gas...
  • Speaking at the opening session of the 6th GECF Summit, Hamel stressed the importance of natural gas as a type of clean energy in promoting sustainable development
  • He also underlined that the convening of the sixth summit in Doha is an indication of the importance that different countries attach to this forum
Business

Saudi stc posts $3bn profit in 2021 on the back of high sales

stc, Saudi Arabia's top telecom firm, has posted a three percent increase in net profit to $3 billion in 2021...
  • Revenues during the year stood at SR63.4 billion, up from SR58.9 billion in 2020
  • Separately, stc said it will distribute dividends of SR1.99 billion, or SR1 per share, for the fourth quarter of 2021
Economy

Fitch says outlook on Moroccan banks’ operating environment stable

Fitch Ratings has upgraded to AA(mar)/Stable the rating of Morocco’s Attijariwafa Bank (AWB), one of the five Moroccan banks whose...
  • Fitch upgraded to AA(mar)/Stable the rating of Morocco’s Attijariwafa Bank (AWB).
  • Five banks, which account for nearly 77 percent of Morocco's banking system assets were reviewed by the ratings agency.
Business

HSBC 2021 profits double

The London-headquartered bank on Tuesday reported pre-tax profit of $18.9 billion in 2021, up $10.1 billion on the year before,...
  • The London-headquartered bank on Tuesday reported pre-tax profit of $18.9 billion in 2021, up $10.1 billion on the year before, helped by lower bad loans and operating expenses
  • The lender endured a tumultuous 2020 like the rest of the banking sector as the virus outbreak rocked the economy
Business

No full recovery until 2024, says Dubai airports chief

Traffic remains "nowhere near pre-pandemic levels" despite rising to 29.1 million passengers last year, Dubai Airports chief Paul Griffiths said...
  • Traffic remains "nowhere near pre-pandemic levels" despite rising to 29.1 million passengers last year, Dubai Airports chief Paul Griffiths said in an interview
  • Passenger figures collapsed to 25.9 million in 2020, a drop of 70 percent, when Dubai airport was closed from March to July and fleets were grounded around the world
Business

‘Suisse Secrets’ puts Swiss banking back in spotlight

No Swiss news media took part in the investigation against Credit Suisse due to the risk of criminal prosecution in...
  • Investigations into Credit Suisse revealed the bank has held more than $8 billion in accounts of criminals, dictators, and rights abusers
  • 48 media houses across the world participated in the Suisse Secrets investigation, coordinated by non-profit journalism group OCCRP
Business

Ecommerce prospers in GCC amidst Covid-19 woes

An improved regulatory support, government promotional initiatives, and heightened interest from business leaders in the private sector benefits the sector...
  • Together with Egypt, Saudi Arabia and the UAE now account for more than 80% of the region’s overall e-commerce market.
  • Spurred on by a highly digitized population and a lockdown-induced spike in consumer demand, e-commerce valuation hits $22bn
Arts & Culture

Jusoor Foundation launches four development projects in Oman

The project includes the establishment of a park gate, mosque, security booth, toilets and parking lot.
  • The projects are worth RO 345,000 ($0.9 million) and were funded jointly by OQ and Sohar Aluminium
  • The first project is the development of the 28,000-square meter Al Qurm Natural Park in the Wilayat of Shinas
Business

Aramco stock rises 4%

Recently, a 4% stake of the oil giant had been transferred to PIF in an $80bn deal.
  • The share price hit SR39.3 ($10.5) yielding a market cap of $2.09 trillion
  • Earlier in the session, the shares hit an all-time high of SR40 ($11)

Saudi Arabia announces major gas discovery in Jafurah

Riyadh, Saudi Arabia--Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz revealed on Sunday that an additional 15 trillion...
Economy

Company News

Latest News

Saudi construction sector employs 3 million workers

GCC countries employ close to 20 million foreign workers, who are subject to vastly different conditions and wags compared to...
Infographics

A glimpse into GCC’s financial evolution

As the winds of change blow, three major forces—regulation, consolidation, and digitization—are shaping the trajectory. These elements intertwine, creating a...
Videos

21 agreements and MoUs signed at Saudi-Italian Investment Forum

Milan, Italy -- The Saudi-Italian Investment Forum, jointly organized by the Saudi Ministry of Investment and the Italian Ministry of...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Gaming industry posts exponential growth in Saudi Arabia: PayerMax COO

Riyadh, Saudi Arabia-- The gaming industry has witnessed exponential growth in Saudi Arabia with an average revenue per paying user...
  • By the end of the decade, Saudi Arabia's Vision 2030 aspires to make the kingdom a global hub for gaming and esports
  • According to Essay Zhu, Partner & COO of PayerMax, the industry is rapidly evolving in the region, driven by technological advancements
Business

Meeza, QNBFS sign agreement

The liquidity agreement is for Meeza's listed shares on QSE.
  • The liquidity provision service is expected to start on September 7, 2023, according to a statement published on the QSE
  • Meeza, a Qatar-based venture, is helping speed up Qatar's growth through the provision of top-notch IT services and solutions

Qantas CEO steps down early as airline falls out of favour

Irish-born Joyce has been in charge for close to 15 years, often delivering bumper profits for shareholders and safeguarding the...
  • 102-year-old airline has long been seen as a national champion, epitomising globetrotting Aussies' sense of adventure and embodying the "Spirit of Australia"
  • Qantas posted an annual profit of US$1.1 billion last month, capping a major financial rebound from the Covid-19 years, when Australia virtually shuttered its borders