INSEAD Day 4 - 728x90

Economy

2PointZero reports strong H1

Expansion drives earnings, revenue growth.

Borouge profit climbs 23%

Prices, recovery boost quarterly earnings

e& posts 11.6% revenue growth

The H1 net profit hits $1.63 billion.

TECOM profit up 9%

Revenue, occupancy drive earnings higher

DAE H1 profit $229m

Growth triggered by higher earnings, stron cash flow

Non-oil sectors contribute 50% to Saudi Arabia’s real GDP in 2023

RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of...

Economy

Qatar real estate trading volume amounts to US$382m in February 2024

DOHA, QATAR – The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at...

Business
Economy

Riyadh Economic Forum to hold 10th session in November

Chairman of the Riyadh Chamber Ajlan Al-Ajlan said the generous patronage from the king Salman bin Abdulaziz has enhanced the...
  • Chairman of the Riyadh Chamber Ajlan Al-Ajlan said the generous patronage from the king Salman bin Abdulaziz has enhanced the role of the forum
  • The forum is a strategic, economic and ideological center that contributes to diagnosing the main economic and development issues of the national economy
Business

Borsa Istanbul to provide consultancy services to Abu Dhabi Securities Exchange

The MoU is the latest in a series of strategic partnership agreements signed by ADX as part of its strategy...
  • The agreement was signed during the visit of the President Recep Tayyip Erdoğan of Turkey, to the UAE on Feb 15.
  • Borsa Istanbul will also provide consultancy service to ADX in the establishment of systems, integration, updating the platform.
Business

DMCC to collaborate with C3 to initiate Impact Scale-Up program in Dubai

C3 is a UAE-based social enterprise empowering impact-driven entrepreneurs across the Middle East, Africa and Turkey.
  • The comprehensive training and networking program will provide a proven blueprint to successfully enter the UAE market, and connect with local and regional investors.
  • DMCC will offer a total of 20 "Impact" business licences to successful firms, providing them with substantial savings on business setup costs through 70 percent discount.
Business

UAE and Turkey to cooperate in agriculture, rural development

The pact is in line with the UAE’s leadership to enhance international cooperation and exchange of successful experiences.
  • Areas of cooperation include agricultural pest control and plant protection, organic agriculture, technology-based agricultural production, food safety, food production.
  • The two countries will also collaborate in the promotion of joint agricultural ventures between their private sectors, and development of specialized agricultural zones.
Business

MAWANI signs pact with Bahri to build logistics park

The Saudi Ports Authority (MAWANI) signed an agreement with shipping giant Bahri to build and operate an integrated logistics park...
  • Once built, Bahri will manage operations at the state-of-the-art facility for a duration of 20 years.
  • The 95436m2 logistics zone will provide storage and handling services for all types of inbound and outbound shipping containers.
Business

Dubai International Financial Centre records best performance in 17 years

Dubai International Financial Centre (DIFC) has reported its best annual performance to date, recording its highest ever annual revenue and...
  • The Centre said it achieved its 2024 Strategy growth targets three years ahead of schedule during the first half of 2021.
  • Revenue increased by 16 per cent to AED897 million year-on-year versus AED774 million in 2020, and up by 7 per cent from AED838 million in 2019 (pre-pandemic levels).
Business

Pandemic turns business models upside down, says Fjord Trends report

Nearly two years of disruption to the fabric of society due to global pandemic has resulted in a collective shift...
  • The rising individualism underlined by a “me over we” mentality has profound implications for organizations in how they lead their employees.
  • The metaverse will be a new frontier of the internet, combining all the existing layers of information, interfaces, and spaces with which people interact.
Economy

UAE industrial exports surge to $32.6bn in 2021: Ministry of Industry

According to the 2021 annual report released by the Ministry of Industry and Advanced Technology, the rise in exports coincided...
  • Also, the National In-Country Value has succeeded in circulating AED41.4 billion ($11.5 billion) back into the local market.
  • UAE rose five places—from 35 to 30-- in the Competitive Industrial Performance Index issued annually by the United Nations Industrial Development Organization.
Economy

Algeria president announces unemployment benefit for youth

The payments will be made "to preserve the dignity of young people", Algerian president Tebboune said.
  • The payments will be made "to preserve the dignity of young people", Algerian president Tebboune said
  • It will be accompanied by medical benefits, while some taxes on consumer products will also be suspended
Economy

Markets rally on hopes for easing Russia-Ukraine tensions

While not verified, the claims by Russia provided some much-needed relief for investors, who had grown increasingly fearful of a...
  • While not verified, the claims by Russia provided some much-needed relief for investors, who had grown increasingly fearful of a conflict in Eastern Europe
  • The mood lifted after Russia's defence ministry said some of the more than 100,000 soldiers amassed around Ukraine in recent weeks had started to return

Non-oil sectors contribute 50% to Saudi Arabia’s real GDP in 2023

RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of...
Economy

Company News

Latest News

African Union, EU step up pressure on Niger coup leaders

The African Union demanded Niger's military "return to their barracks and restore constitutional authority" within 15 days as the EU...
Geostrategy

Seventh Al Dhaid Date Festival witnesses huge turnout

SHARJAH, UAE – The seventh edition of Al Dhaid Date Festival continues to captivate participants and visitors alike, in a...
Business

UAE is fourth biggest market for Indian spices

NEW DELHI, INDIA -  The UAE ranked fourth in the world among the top 12 markets for Indian spices in...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Strategizing internet use key to halt disinformation

“Handling disinformation is the need of the hour. The Global Media Congress will help devise a strategy to use the...
  • The annual Global Media Congress (GMC) in Abu Dhabi aims to strategize the best ways to use the power of the internet and tackle disinformation
  • Francisco Chacon Hernandez, Ambassador of Costa Rica to the UAE, sees the importance of the GMC as a platform for policy makers to share best practices
Business

Aramco, 5 local firms to jointly work on project in Pakistan

ISLAMABAD, PAKISTAN - Five Pakistani state-owned companies are set to collaborate with Saudi Arabia’s Aramco to execute a $10 billion...
  • The proposed joint venture will establish a mega refinery in Gwadar with a capacity of 400,000 barrels per day.
  • The government of Pakistan has already approved a refinery policy for new projects in the country.
Geostrategy

Egypt calls for renewal of Black Sea grain export deal

MOSCOW, RUSSIA -  Egypt's president on Friday called on Russia and Ukraine to find "urgent solutions" to allow the resumption of...
  • Moscow withdrew from the agreement after protesting for months that parts of the deal that allowed for export of Russian fertilizer were not honored.
  • Russia refused to extend a deal brokered by UN and Turkey, under which Ukrainian grain exports passed through the Black Sea to reach global markets.