INSEAD Day 4 - 728x90

Company News

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.

SEC H1 net profit $1.67bn

Revenue grew by 24% to $7.38 billion.

Business

Thousands of carpets sunbathe at Turkish resort

From June-Sept, in harvested fields cleared of stubble, merchants bring their cargo to age in the sun, tempering the bright...

Arts & Culture
Business

ACWA Power, SEC sign PPAs

The agreements signed with SPPC are valued at $3.9 billion.
  • The agreement, signed on November 13, pertains to the development, financing, construction, ownership, and operation of two expansive combined cycle gas turbines power plants.
  • Named Taiba 1 and Qassim 1, these mega-projects are strategically situated in Madinah and Qassim, with a production capacity of 1,800 megawatts (MW) each.
Business

Chemanol to buy stake in ACC

It will acquire 84 percent stake for US$12.3 million.
  • The purchase amount would be disbursed partially and within specified intervals, as per the terms stipulated in the SPA.
  • Chemanol said the acquisition is aimed at enhancing its share in the market and diversifying its product range,
Business

ADIB lists $500m green sukuk on LSE

The bank marked the issuance of its $500 million green sukuk.
  • London Stock Exchange has welcome ADIB’s listing, as the world’s first dollar denominated green sukuk.
  • This follows the bank’s recent successful listing of US$750 million AT1 perpetual sukuk.
Business

Salik records $138m in Q3 revenue

This is the toll operator's highest Q3 revenue since 2007.
  • The 14.6 percent year-on-year revenue growth was supported by a strong growth in tourism and residency.
  • Salik reported a net profit of AED255 million during the third quarter of 2023, up 5.3 percent against the prior year.
Business

Al Ghurair to use Oracle solution

This will help HR teams improve business operations.
  • Through this strategic collaboration, Al Ghurair seeks to empower its employees through self-service capabilities.
  • Oracle Cloud HCM transforms the traditional functions of HR departments such as recruiting, training, payroll.
Business

GA-ASI partners with EDGE

The pact is aimed at integrating smart weapons into MQ-9B.
  • The partnership marks the first time that UAE-made smart weapons will be integrated into a US unmanned platform.
  • The EDGE smart weapons designated for integration include the DESERT STING family of GGWs and THUNDER family of cost-effective PGMs from HALCON.
Business

ADNOC L&S reports 162% rise in profit

The company also reported an EBITDA of $635 million.
  • The company also reported an EBITDA of $635 million (AED2,332 million), marking a substantial 124% year-on-year increase
  • The third quarter of 2023 specifically contributed to the positive financial performance, with a 30% year-on-year increase in revenue
Business

Burgan Bank Sells 52% stake

The stake in its Turkish subsidiary BBT was sold to Rawabi Holding.
  • While the sale represents a majority ownership transfer, Burgan Bank will retain operational control over BBT.
  • The move is strategically poised to fortify the bank's capital structure and shield against the impact of fluctuating Turkish lira exchange rate.
Business

EVIQ to set up infra for EVs in KSA

PIF, SEC JV's brand name for EV infrastructure is EVIQ.
  • EVIQ will support electric vehicle adoption in Saudi Arabia by building best-in-class infrastructure and creating a nationwide network of fast-charging hubs.
  • This will help enable and encourage the use of electric vehicles across Saudi Arabia, in line with the sustainability goals of the Kingdom.
Geostrategy

ADNOC Drilling, Alpha Dhabi set up JV

The two companies will invest up to US$1.5 billion.
  • ADNOC Drilling will own 51 percent of the JV with Alpha Dhabi holding 49 percent, bringing together a market-leading drilling and OFS expert.
  • This will further develop and scale up ADNOC Drilling’s integrated drilling and oilfield services (OFS) offering and enhance operational efficiencies.

SEC H1 net profit $1.67bn

Revenue grew by 24% to $7.38 billion.
Business

Company News

Presight net profit $155m

DEWA 2023 net profit $2.15bn

Alibaba share buyback program up $25bn

ADNOC Distribution posts record EBITDA

Novartis to buy MorphoSys

Latest News

GM reports US sales dip, that of EVs grew

The big Detroit automaker reported 659,601 US sales during the period.
Business

Xiaomi posts solid quarterly sales growth

The company is Chinese smartphone and household tech giant.

Intel to slash workforce

The company to cut approximately $20 billion in expenses this year.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Tesla auto deliveries beat expectations

Electric carmaker Tesla saw its shares surge on Tuesday.
  • Tesla said it delivered around 444,000 vehicles worldwide in the April-June period, exceeding consensus estimates compiled by FactSet
  • Of the total figure, 422,405 involved Model 3 and Model Y vehicles. Tesla gave no detailed breakdown of the other autos delivered

Apple holds talks with rival Meta

The company to integrate Meta's generative AI into its products.
Business

Boeing to check undelivered 787s due to fastener issue

New York, United States - Boeing said Thursday it is examining fasteners on some undelivered 787 jets after discovering problems with...
  • The aviation giant, which faces intensified scrutiny from regulators following recent incidents said planes already in service can continue to be flown safely
  • "Our 787 team is checking fasteners in the side-of-body area of some undelivered 787 Dreamliner airplanes to ensure they meet our engineering specifications," the company said