INSEAD Day 4 - 728x90

Economy

DIB H1 net profit $1bn

Gross revenue increased 10% year on year

SIB H1 profit up 15.3%

Total operating income rises 20.5 percent.

flydubai Aleppo flights resumed

The flights were resumed after nearly 14 years.

Samsung biggest chip investor

The tech giant invested nearly $59.2bn in 2025.

flynas to set up new hub

Five destinations in first phase of operations.

Readying for jobs of tomorrow: WEF’s Till Leopold stresses upskilling

Davos, Switzerland -- In the next five years, millions of jobs will be created. Governments, employers, and education institutions, therefore,...

World Economic Forum

Davos2025: 33 industrial clusters from 16 countries commit to economic growth, jobs creation and emissions cuts

The Transitioning Industrial Clusters initiative aims to improve collaboration and develop a shared vision among co-located companies and public institutions,...

Economy
Economy

Saudi Arabia and Japan bolster energy ties, sign new deals

Seeking to deepen energy ties, Saudi Arabia and Japan have signed two sets of cooperation agreements in the fields of...
  • The deal was signed at the first ministerial meeting of the Saudi-Japanese Ministerial Dialogue for Energy in Riyadh
  • Nishimura will be in Saudi Arabia, Japan’s largest importer of crude oil, until Monday and will then go to Oman, a supplier of LNG, on Tuesday
Business

Pact to transform Makkah, Madinah into business hubs for Islamic world

The Makkah Chamber of Commerce, Madinah Chamber of Commerce and the Islamic Chamber of Commerce will sign the agreement at...
  • The partnership would boost the business sectors in the holy cities through exhibitions and forums, lectures, workshops and dialogues with decision-makers from the Islamic world.
  • Chairman of the Board of Directors of the Madinah Chamber, Munir Muhammad Nasser bin Saad, said the agreement will contribute towards promoting cultural heritage of the holy cities
Economy

UAE Ministry of Climate Change organizes first meeting of Farmers’ Council

DUBAI, UAE -  UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri presided over the first meeting...
  • The meeting highlighted the government directions to promote sustainable modern farming systems across the UAE.
  • The meeting discussed the government's decisions to increase the agricultural sector’s productivity, commercial value and enhance food security.
Geostrategy

Fishermen return to Iran years after Somalia kidnapping

TEHRAN, IRAN - Fourteen Iranian fishermen seized by the Al-Shabaab militant group in Somalia, some as long as eight years ago,...
  • The fishermen were welcomed in a special ceremony at Tehran's Imam Khomeini International Airport.
  • Their release comes almost a month after Somali police said they discovered 20 foreigners near territory controlled by the militant group.
Business

DEWA 9th Sustainability Report showcases its progress in sustainable development

DUBAI, UAE - The ninth Sustainability Report 2021 issued by Dubai Electricity and Water Authority (DEWA) highlights its efforts and...
  • The Sustainability Report 2021 introduces partners, relevant entities and all stakeholders to its performance and practices in sustainability.
  • The report demonstrates the progress made by DEWA, and its contributions to achieving the United Nations Sustainable Development Goals 2030.
Economy

Qatar Chamber seeks to boost economic ties with Serbia

Doha, Qatar-- Qatar Chamber has discussed ways to enhance trade and economic cooperation with Serbia during the meeting of First...
  • Bin Twar noted the importance of forming the Qatari-Serbian joint business council, for which a memorandum of understanding was signed to establish it 3 years ago
  • Marco Cadez called on Qatari business owners to visit Serbia and learn about the investment climate and available investment opportunities
Economy

Saudi and Turkish banks sign US$26m financing line agreement

Riyadh, Saudi Arabia--Saudi Export-Import Bank has announced the signing of a $26 million financing line agreement with Turkyie Finance Katilim...
  • It also signed an agreement with Turkish Export Bank that allows cooperation in several fields, including the exchange of experiences and the promotion of exports
  • The two agreements come within the framework of Saudi partnerships with Turkish financial institutions, and within the bank’s direction to develop its local and foreign partnership
Economy

Iraq football body launches ticket sales for Gulf Cup

The Gulf Cup brings together the hosts as well as Saudi Arabia, Kuwait, Qatar, Yemen, Bahrain, Oman and the United...
  • The federation shared a link for the ticketing website on its Facebook page, with prices ranging from $10-$30
  • Iraq has scrapped visa fees for the football fans entering Iraq for the upcoming tournament
YEARBOOK 2023

Reforms in tax and visa rules to drive UAE’s growth

The introduction of new laws regarding the ownership structure of mainland companies may boost the Gulf country's economy in 2023...
  • The UAE is expected to become the fifth country within the Gulf Cooperation Council to have a corporate tax regime, say experts in the region
  • The new visa system offers 60 days visit visa, a five-year multi-entry tourist visa, a job exploration visa, a five-year green visa, and a 10-year golden visa
Geostrategy

Saudi grants almost 450,000 metric tons of oil to Yemen

AL-MAHRA, YEMEN - The second batch of the new Saudi oil derivatives grant of 4,491,000 metric tons of diesel was...
  • The grant comes as part of the Kingdom's support for the Yemeni people under the directives of Saudi King Salman and the Crown Prince
  • It also comes as an affirmation of the Saudi Arabia's keenness to achieve security, stability and development for the Yemeni people

Readying for jobs of tomorrow: WEF’s Till Leopold stresses upskilling

Davos, Switzerland -- In the next five years, millions of jobs will be created. Governments, employers, and education institutions, therefore,...
World Economic Forum

Company News

Latest News

UAE pioneers smart city, clean energy initiatives

"The country's strategies, such as the Energy Strategy 2050, aims at raising the share of clean energy in the total...
Economy

Al Rajhi Bank appoints Abdullah Al Rajhi as chairman

RIYADH, SAUDI ARABIA - Al Rajhi Bank said on Monday that it has appointed Abdullah bin Sulaiman Al Rajhi as...
Business

Abu Dhabi’s EWEC opens Q4 2023 Clean Energy Certificates auction

ABU DHABI, UAE - Emirates Water and Electricity Company (EWEC) on Monday announced that it will conduct its Q4 2023...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Beltone 9M net profit at $2.7m

In 9M, the firm's restructuring led to a turnaround.
  • Operating revenue in 9M 2023 increased to US$30 million, a growth of 271 percent Year-on-Year.
  • The NBFIs operating revenue recorded US$15 million in 9M2023, a growth of 680 percent YoY.
Business

EDB commits US$350m for renewable energy projects in developing countries

ABU DHABI, UAE - Emirates Development Bank (EDB) has committed US$350 million (AED 1.3 billion) to support the Energy Transition Accelerator...
  • The ETAF platform is a global climate finance facility established by the International Renewable Energy Agency (IRENA).
  • The announcement was made during the signing of a collaborative partnership agreement between EDB and IRENA.
Economy

Monsha’at reports Q3 rise in SMEs driven by growth across non-oil sectors

RIYADH, SAUDI ARABIA  - The General Authority for Small and Medium Enterprises (Monsha'at) has released its latest quarterly SME Monitor,...
  • The total number of SMEs in the Kingdom has risen and reached 1.27 million.
  • Over 43 percent of SMEs are located in the financial capital of Riyadh.