INSEAD Day 4 - 728x90

Economy

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.

WTO convenes ministers in UAE with slim hopes for breakthrough

The World Trade Organization's 13th ministerial conference (MC13), scheduled to run until Thursday in Abu Dhabi, the capital of the...

Economy

Saudi Arabia announces major gas discovery in Jafurah

Riyadh, Saudi Arabia--Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz revealed on Sunday that an additional 15 trillion...

Economy
Economy

Saudi Ministry of Transport signs MoUs with its Omani Counterpart

The signing ceremony was attended by the Minister of Transport and Logistic Services Eng. Saleh bin Nasser Al-Jasser and his...
  • The signing ceremony was attended by the Minister of Transport and Logistic Services Eng. Saleh bin Nasser Al-Jasser and his Omani counterpart Eng. Saeed Al-Maawali
  • The MoU is geared to benefit from the unique geographical location of the two countries and achieve the objectives of the national strategy for transport and services

Sunny but isolated, Cyprus toils to boost green energy

Cyprus hopes to boost its share of renewable energy to 23 percent by 2030 as part of its National Energy...
  • Cyprus hopes to boost its share of renewable energy to 23 percent by 2030 as part of its National Energy and Climate Plan
  • In October Cyprus also signed a deal with Greece and Egypt to transfer electricity through lines connecting the three countries

JNTO opens its first office in Dubai in bid to draw more GCC tourists

Japan aims to attract 60 million visitors annually by 2030 and it is looking to draw a large number of...
  • Japan aims to attract 60 million visitors annually by 2030 and it is looking to draw a large number of them from the Middle East
  • As many as 28222 tourists visited Japan from the GCC in 2019, marking an increase of 28 percent from last year
Business

Dubai Economy, Golden Radiant help DED licensed traders to widen reach

Traders holding Dubai Economy's DED Trader license can digitalize their businesses by using SingleCart App and a complete line-up of...
  • Traders can digitalize their businesses by using SingleCart App and a complete line-up of the app's features to reach a larger number of consumers.
  • The app is designed to help them handle in-store and online sales seamlessly from their smartphone.
Business

Transaction law changes will help raise UAE’s competitiveness ranking: CBUAE

Several amendments to the Commercial Transactions Law related to cheques will contribute to raising the UAE's ranking in the Global...
  • Several amendments to the Commercial Transactions Law will come into effect in Jan 2022.
  • The changes will also consolidate the principles of justice by striking a balance between the interests of the cheque beneficiary or bearer: CBUAE
Business

Middle East’s first lithium production facility to come up at KIZAD

The first lithium production facility in the Middle East will be established in the Khalifa Industrial Zone Abu Dhabi (KIZAD),...
  • The $95 million will be set up by Australia's Lepidico at the eco-friendly, zero-waste facility.
  • Lepidico's special process extracts lithium and recovers valuable byproducts from lithium-mica and phosphate minerals.
Economy

No plan to reduce VAT any time soon, says Saudi minister

Saudi Arabia will not reduce value added tax any time soon, but will consider doing it when it public finances...
  • There will be no VAT cut anytime soon, he told the media, on the sidelines of the Group of Twenty (G20) meetings in Rome
  • Al-Jadaan expects the Kingdom's general budget to record a deficit at the end of this year
Economy

Federal Tax Authority to implement new procedures for tax registrants

The procedures relate to tax registrants who apply for reconsideration of or who submit objections to the Authority’s decisions.
  • The procedures relate to tax registrants who apply for reconsideration of or who submit objections to the Authority’s decisions
  • The Authority will review the reconsideration request and issue a decision, giving its reasons within 40 business days
Geostrategy

UAE, UK to conduct exercise to toughen border controls against illicit finance

A key aim of the initiative was to understand how organised crime attempts to move illicit assets, such as the...
  • A key aim of the initiative was to understand how organised crime attempts to move illicit assets, such as the flows of cash and gold
  • Over a week, Dubai and Abu Dhabi-bound flights from the UK were subject to increased security to check if criminal groups were attempting to smuggle cash and gold from the UK
Business

Dubai increases ease of doing business by more than half

This was more than double the target of 30 percent reduction in business setup procedures that the emirate had set...
  • The move is said to be part of Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum’s vision to make the emirate economically attractive
  • The vision looks to achieve this by helping entrepreneurs set up and run businesses much more easily

WTO convenes ministers in UAE with slim hopes for breakthrough

The World Trade Organization's 13th ministerial conference (MC13), scheduled to run until Thursday in Abu Dhabi, the capital of the...
Economy

Company News

Latest News

UAE commits $15m to rebuild Palestinian city of Jenin after Israeli attack

Dubai, UAE - The United Arab Emirates (UAE) pledged on Thursday $15 million to support the rebuilding efforts in the...
Economy

Rise in unemployment affects Saudi women the most

The Kingdom's unemployment rose to 8.5% in the first quarter of 2023, up from 8% in Q4 2022, driven by...
Economy

Lebanon central bank officials to quit if no governor nominated

BEIRUT, LEBANON - The vice-governors of Lebanon's central bank plan to resign unless politicians swiftly name an incoming governor, two senior...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Dubai logs over $871m in realty transactions on Thursday

DUBAI, UAE  - Dubai's real estate market recorded 669 sales transactions worth US$792 million (AED2.91 billion) on Thursday, data released...
  • DLD said 134 mortgage deals totaling US$73 million and 89 gift deals amounting to US$27 million.
  • The sales included 567 villas and apartments worth US501 million and land plots worth US$294 million.
Geostrategy

Iraq join Egmont Group of financial intelligence units

BAGHDAD, IRAQ -   Iraq joined the Egmont Group of Financial Intelligence Units, the Supreme Judicial Council announced. "The efforts made...
  • The membership, "concerns the exchange of information between the financial investigation units for combating money laundering and financing terrorism."
  • Egmont Group provides support to member states by enhancing secure communication between financial investigation units
Economy

Qatar Central Bank’s foreign reserves up 14 percent in June

Doha, Qatar -- International reserves and foreign currency liquidity of Qatar Central Bank (QCB) rose to reach QR 240.742 billion...
  • The official reserves consist of major components, which are foreign bonds and bills, cash balances with foreign banks and gold holdings.
  • Qatar's gold reserves increased, as of the end of June 2023, by about QR 8.617 billion to reach QR 20.853 billion.