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

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

Ajman eyes endowment-driven growth, social solidarity

"Reports with statistics on the number, types, values, and uses of endowments enable us to make appropriate decisions regarding endowment...

Economy
Business

First edition of leading global event on defense to kick off in Saudi

The World Defense Exhibition (WDE) declared that its first edition will be held in Riyadh, Saudi Arabia, from March 6-9,...
  • More than 450 companies from around 37 countries will participate in showcasing the latest defense and security industry technologies.
  • A day before the start of the show the International Institute for Strategic Studies (IISS) will organize the “Riyadh Defense Forum”.
Geostrategy

DEWA first in the world to win 8 stars in EFQM Innovation Lens

Dubai Electricity and Water Authority (DEWA) has achieved 8 stars level in the European Foundation for Quality Management (EFQM) Innovation...
  • DEWA achieved a score of 800 on this award that measures innovation culture and its role in achieving results in leading organizations worldwide.
  • DEWA made many achievements in the field of excellence in 2021, including winning the Sheikh Khalifa Excellence Award (SKEA) in the Elite Category.
Economy

Cooper Fitch forecasts strong GCC hiring activity to continue in 2022

The Gulf Cooperation Council region witnessed a 40 percent rise in job creation in the last quarter of 2021 compared...
  • Job creation across the region was driven primarily by a significant recovery in the UAE and Saudi Arabia.
  • Real estate, public, software development, cyber security, sales and marketing sectors witnessed a significant increase in hiring.
Business

Bahrain to offer permanent residency visa to attract talent

Bahrain has launched ‘Golden Residency Visa’ for residents and non-residents with immediate processing of the applications electronically upon meeting the...
  • The move is a part of the Kingdom’s strategy to attract foreign investments where the visa holders will enjoy benefits
  • Bahrain’s ‘Golden Residency Visa’ will be available for qualifying residents, allowing them to take advantage of the benefits
Economy

High electricity bills in Jordan due to rise in winter consumption: Regulator

Jordan’s Energy and Minerals Regulatory Commission ascribed any rise in the electricity bill to high demand during this winter when...
  • Jordan’s Energy and Minerals Regulatory Commission ascribed any rise in the electricity bill to high demand during this winter when the electricity load was at 4,010 megawatts
  • The regulator referred to repeated complaints about higher electricity bills during summer or winter when temperatures rise or fall, prompting consumption to soar
Business

SoftBank Arm sale scrapped

The company plans public offering of Arm by March 2023.
  • The announcement came as the telecoms firm-turned-investment giant reported a net profit of 29.0 billion yen ($251 million) in the third quarter
  • And there have been challenges elsewhere for SoftBank, including losses on Chinese ride-hailing giant Didi Chuxing
Economy

Tunisia police blockade dissolved judicial watchdog

Saied has pushed the country down a dangerous route back towards autocracy, says critics.
  • Tunisian police blocked access to the country's top judicial watchdog in a move its chief slammed as "illegal", two days after President Kais Saied dissolved the body
  • Saied has vowed that he would not interfere in court cases or judicial appointments
Business

EU joins chips race with 42 bn euro bid to rival Asia

The production of semiconductors, also known as chips, has become a strategic priority in Europe as well as the United...
  • The production of semiconductors, also known as chips, has become a strategic priority in Europe as well as the United States, after the pandemic choked off supply
  • The manufacturing of chips overwhelmingly takes place in Taiwan, China and South Korea and the European Union's 27 member states
Business

Industries Qatar profit up 321%

The company achieved a net profit of QR 8.1 billion for 2021.
  • Industries Qatar said in a statement that the Group revenue significantly improved by 77 percent to reach a record QR 20.2 billion
  • Earnings per share (EPS) amounted to QR 1.34 for the year, versus QR 0.32 for last year
Economy

Lebanon fuel distributors say no diesel crisis in the country

Lebanon’s Fuel Distributors Representative Fadi Abu Chakra has confirmed that "there is no diesel oil crisis" in the country. The...
  • The rumors of oil crisis started to circulate after a ship carrying 42 thousand tons of diesel met with a marine accident.
  • The representative confirmed that diesel will be available during the next week and there is no crisis but a shortage.

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

Company News

Latest News

Saudi PIF signs MoU with Oman Investment Authority to expand investment in Oman

Riyadh, Saudi Arabia - The Public Investment Fund (PIF) announced on Thursday that it has signed a Memorandum of Understanding...

Bahrain’s RERA revokes real estate firm’s license for ‘breach of regulations’

Manama, Bahrain-- for "exceeding the scope of the permit." The owner had exceeded the scope of the permit which was issued...
Economy

Clean cooking to save millions, boost gender equality

He was referring to a new IEA report which suggests that universal clean cooking access could be reached worldwide by...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

GCC central banks follow Fed in raising key rates

The decision by the central banks, in the US and most of the Middle East, to hike interest rates are...
  • The UAE's central bank raised the base rate applicable to the overnight deposit facility (ODF) by 25 basis points – from 5.15 to 5.40 percent
  • The decision to raise key rates comes as central banks across the world struggle with the challenge of controlling inflationary pressures
Business

Saudi Arabia at 16 position in Lloyd’s List 2023 rankings

RIYADH, SAUDI ARABIA - The  Kingdom of Saudi Arabia was ranked 16 in annual container throughput by the 2023 edition...
  • As per the industry report, container volumes across the Kingdom’s ports during 2022 were estimated at 10,439,620 TEUs.
  • The Kingdom’s groundbreaking strides in the global logistics landscape boils down to a host of critical catalysts,
Economy

Kuwait posts fiscal surplus after almost a decade, says finance ministry

Kuwait recorded its first surplus in nine years for the 2022-2023 fiscal year which ended in March, the finance ministry...
  • More than 92 percent of revenues came from oil after prices surged following last year's Russian invasion of Ukraine.
  • Oil revenues for the fiscal year which started in April 2022 stood at $87 billion, a 64 percent increase from the previous year, the ministry said.