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 aims to build ties with Canada in scientific and research fields

Riyadh, Saudi Arabia-- Saudi Arabia is exploring investment opportunities in education and aiming to attract investments to the kingdom from...

Business

Abu Dhabi Judicial Department’s Auction App generated $925m in property sales

Abu Dhabi, UAE - Since its launch in June 2022 through mid-February 2024, the Abu Dhabi Judicial Department's (ADJD) Auction...

Business
Business

SEWA implements development projects worth over $14.78m

The Central Region Department of the Sharjah Electricity, Water and Gas Authority (SEWA) implemented a number of development projects during...
  • 80 projects have been implemented for network modifications and approximately 50 transformers are installed in the central region.
  • Cables have been extended to implement these projects with up to 197,624 km of length, and the total cost of the projects is $14.78 million.
Business

MoHAP of UAE and Bayer to launch a new initiative “STEPS”

The Ministry of Health and Prevention (MoHAP) has signed a Memorandum of Understanding (MoU) with Bayer Middle East to launch...
  • The new initiative aims to support the local health authorities by developing the capabilities of the various components of the medical system
  • The launch of the STEPS program aims to enhance the capabilities of all parties to the health economics system in the UAE
Business

India aims at boosting honey exports to UAE, Saudi Arabia

India started its honey exports only in the fiscal year 1996-97, and is the world’s eighth-largest honey producer and ranks...
  • India started its honey exports only in the fiscal year 1996-97, and is the world’s eighth-largest honey producer and ranks ninth among the honey exporting countries globally.
  • The markets of Indian honey where APEDA is planning to boost its export includes the UAE, Saudi Arabia, Bangladesh and Canada.
Business

EDB and AD Ports team up to support industrial sector in UAE

Emirates Development Bank (EDB) has signed an MoU with Industrial Cities and Free Zone Cluster of AD Ports Group to...
  • The financial solutions can be utilized to build new facilities, purchasing, or leasing existing facilities as well as acquiring, upgrading, and maintaining the units’ assets
  • The MoU aligns with EDB’s continuous efforts to enable the industrial transformation and economic diversification agenda in the UAE
Business

FAHR issues circular for flexible remote working on Fridays

The Federal Authority for Government Human Resources (FAHR) yesterday issued a circular to all ministries and federal entities regarding flexible...
  • The step is being taken to ensure continuity of service provision and the federal government’s proper functioning during the implementation of the remote working system
  • The circular is based on the new system of weekly work in the federal government sector, which started at the beginning of this year
Geostrategy

Lebanon town warns of looming heating tragedy

Arsal town is home to 70,000 Syrian refugees. The cost of fuel families need to power their stoves has risen...
  • Dozens of displaced people in Syria and refugees in Lebanon have died from the cold and accidents caused by unsafe heating devices, including in Arsal.
  • Bankrupt Lebanon can no longer provide electricity nor subsidised fuel for its own citizens, let alone for the estimated 1.5 million Syrian refugees.
Business

Dana Gas’s 2021 collections spike 107% to $377 million

Dana Gas has announced that its collections from the KRI and Egypt rose 107% year-on-year in 2021 to $377 million...
  • In Egypt, Dana Gas collected $193 million during 2021, compared to $80 million in 2020, a 141% year-on-year jump
  • The payments from the government of Egypt have reduced the Company’s receivables from the North African state to under $20 million
Business

Dubai records $81 billion worth of real estate transactions in 2021

Dubai's real estate market recorded 84,772 transactions representing a value of AED300 billion ($81 billion) in 2021, according to the...
  • There was a 65 percent growth in the number of transactions and a 71 percent increase in value compared to 2020.
  • A total of 52,415 investors concluded 72,207 new investments in 2021 worth AED148 billion, a growth of 73.7 percent.
Business

France hits Google, Facebook with huge fines over ‘cookies’

Cookies are little packets of data that are set up on a user's computer when they visit a website, allowing...
  • Cookies are little packets of data that are set up on a user's computer when they visit a website, allowing web browsers to save information about their session
  • They are highly valuable for Google and Facebook as ways to personalise advertising -- their primary source of revenue.
Economy

Iraq acquires ExxonMobil share

The share was bought by Iraqi national oil company.
  • The share was bought by Iraqi national oil company in the West Qurna field
  • The field is one of the giant fields, the Iraqi oil ministry statement said

Saudi Arabia aims to build ties with Canada in scientific and research fields

Riyadh, Saudi Arabia-- Saudi Arabia is exploring investment opportunities in education and aiming to attract investments to the kingdom from...
Business

Company News

Latest News

European stocks rise, China rate cut fails to ease worries

European stocks rebounded but Asian markets ended mixed after a Chinese rate cut failed to reassure investors. At midday, Paris...
Market Report

Abu Dhabi Chamber inks MoU with Ethiopian Investment Commission

ABU DHABI, UAE - The Abu Dhabi Chamber of Commerce and Industry has signed a Memorandum of Understanding with the...
Business

ACWA Power announces financial close on $2.4bn Saudi solar projects

Riyadh, Saudi Arabia -- A consortium of ACWA Power and subsidiaries of Saudi sovereign wealth fund, Public Investment Fund, and...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Rival branches of Central Bank of Libya reunite

Libya's central bank announced that its two rival branches in the west and east are reuniting after nearly a decade...
  • Libya has seen 12 years of stop-start conflict since the 2011 NATO-backed revolt that toppled strongman Moamer Kadhafi.
  • The Central Bank of Libya said it has "again become a unified sovereign institution", in a statement issued by the governor and his deputy.
Business

NDF helps in financing of US$2.2bn renewable energy project

RIYADH, SAUDI ARABIA -  The National Development Fund (NDF) on Sunday said it will contribute US$453 million (SAR1.7 billion) to...
  • This is one of the world’s largest renewable energy projects, developed through joint venture by Saudi Aramco, Badeel and ACWA Power.
  • NDF's US$453 million financing commitment has attracted local and global banking groups in the Kingdom’s high-growth infrastructure market.
Business

Iran-European Union trade reaches $2.5 billion in first half of 2023

Tehran, Iran -- Trade between Iran and the European Union member states reached 2.3 billion euros ($2.5 billion) in the...
  • Iran-EU trade exchanges declined by 10 percent compared to the last year’s corresponding period.
  • Germany, Italy and the Netherlands accounted for most of the export of products to Iran from January to June 2023.