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.

Price of natural gas in Europe falls to a 3-year low

LONDON, UK – The price of natural gas in Europe fell again on Friday, taking it to its lowest in almost...

Business

Lloyds Group profit is $6.2bn

High interest rates benefitted the British lender and banking sector as a whole.

Business
Business

DEWA expands fibre optic ducts

The company lays 394 kms of Fibre Optic ducts in 2021.
  • The company increased the total length of these cable ducts since 2015 and until the end of last year to 3,275 kilometres
  • The external FO ducts protect and direct all Fibre Optic Cables in communication, data transfer and remote operations.
Business

Gourmet meals spawn $59bn Saudi food industry

More than 50,000 coffee shops and restaurants scattered all over the kingdom help Saudi economy relish growth on the back...
  • Last November, the Saudi Central Bank said that consumers in the kingdom spent more than $320 million on F&B, followed by $320 million on cafes and restaurants
  • According to the Saudi Ministry of Commerce statement, the ministry granted 7,322 business licenses in the restaurant and cafe activities alone last year
Business

East Pipes to list on TASI

The offer comprised a total of 6.3 million shares.
  • This came after the initial public offering of the company was 71.8 times oversubscribed, setting the final offer price at SR80 ($21.3)
  • SNB Capital, as the financial advisor of the offer, led the book-building process, which started on Jan. 11 and ran through Jan. 17
Business

Bangladesh aiming at direct shipping line to UAE for faster connectivity

Bangladesh wants to establish a direct shipping line with the UAE, which will reduce the existing navigation time by two...
  • Foreign Minister of Bangladesh AK Abdul Momen, on a four-day official visit to the UAE, said Bangladesh is keen to utilize the UAE’s expertise in port management.
  • The bilateral trade between two countries in 2021 stood at $1.8 billion, Momen said, adding that a direct shipping line would help multiply it several times.
Geostrategy

Bahrain and Egypt share solid relations: Fawzia bint Abdulla Zainal

Bahrain and Egypt share solid long-standing brotherly relations, and there is steady progress in it due to their deep partnership...
  • The two sides discussed ways to enhance parliamentary relations between the two countries, in addition to the mechanisms to develop joint action.
  • They also exchanged points of view on regional and global issues of mutual interest affirming the importance of cooperation between the two.
Business

Saudi firm BinDawood eyes expansion by way of acquisition

Future Tech Retail, a firm owned by Saudi retailer BinDawood Holding, will acquire a sixty-two percent stake in International Applications...
  • Future Tech Retail, which is fully owned by BinDawood Holding, signed the deal with Amwaj Real Estate Co. and First Commercial Application Co
  • The potential acquisition comes in a bid to strengthen BinDawood’s position in the e-commerce sector and enhance its omnichannel presence
Business

2021 edition of World’s Coolest Winter raises UAE hotel revenues by 50 percent

UAE government's World's Coolest Winter campaign, which was launched in December 2021, has raised revenues of hotel establishments to AED1.5...
  • The campaign promoted tourism, natural sites and entertaining destinations and experiences across the seven emirates of the UAE.
  • The campaign also raised the number of domestic tourists from 950,000 to 1.3 million, an increase of 36 percent over the first edition of the campaign.
Business

Al-Dawaa of Saudi Arabia to launch IPO at $17.3 per share

Al-Dawaa, a pharmaceutical retail firm in Saudi Arabia, has set the price range for its initial public offering at SR65...
  • The company earlier announced it was offering 25.5 million shares in an IPO, or 30 percent of its capital of SR850 million through a sale by existing shareholders
  • Institutional subscription has also started on Sunday, where they are initially allocated 100 percent of the offering
Business

QLM net profit up 8 percent

The insurer reported a growth of 16 percent in underwriting income.
  • The Company’s net profit for the Year 2021 is QAR 106.2 million compared to QAR 98 million in 2020, a growth of 8 percent.
  • The company’s board has recommended a cash dividend of 22 percent (QAR 0.22 per share).
Business

Ras Al Khaima issues 1,749 business licenses in 2021

The Emirate of Ras Al Khaima has given out 1,749 business licenses in 2021, a thirty-six percent jump over the...
  • Commercial sector licenses increased by 921, accounting for 53 percent of the total issued licenses, an annual growth of 30 percent compared to 2020
  • It was followed by industrial and professional licenses at annual growth rates of about 47 percent and 46 percent respectively

Price of natural gas in Europe falls to a 3-year low

LONDON, UK – The price of natural gas in Europe fell again on Friday, taking it to its lowest in almost...
Business

Company News

Latest News

Markets mostly rise ahead of crucial United States jobs report

Wall Street's three main indexes ended a volatile August on a tepid note Thursday after data showed the Fed's preferred...
Business

Estithmar opens new subsidiary in Jordan

The subsidiary was set up in partnership with a Jordanian company.
Business

Agri-Nutrients SABIC, US firms together support sustainable farming

RIYADH, SAUDI ARABIA -  Agri-Nutrients SABIC, in cooperation with the American companies ADM and BiOWiSH has helped farmers achieve high...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

UAE, New Zealand discuss economic cooperation, free trade pact

DUBAI, UAE – Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade discussed deeper economic collaboration,...
  • The UAE and New Zealand already share a productive trade relationship, with non-oil trade reaching US$805 million in 2022.
  • UAE is New Zealand's leading trading partner in the Arab World, accounting for 2.5 percent of Wellington’s total foreign trade.
Business

SABIC-Sinopec China plant opens

The plant is located in their jointly owned petrochemical firm.
  • Sinopec SABIC Tianjin Petrochemical Company, established in 2009, consisting of nine manufacturing units.
  • The production capacity of the new polycarbonate factory is 260,000 tons per year.
Business

Saudi Arabia’s consumer spending hits $27bn in July: Central Bank

Riyadh, Saudi Arabia -- Consumer spending in Saudi Arabia increased 2 percent to SAR 104.6 billion ($27.88 billion) in July 2023, from...
  • Data showed 745.9 million transactions were processed through 1.64 million POS devices in July.
  • POS transactions represent what consumers spend using their ATM and credit cards in shopping malls, retail stores, pharmacies, etc.