INSEAD Day 4 - 728x90

Economy

Alpha Dhabi profit jumps 48%

AI and technology investments boost earnings.

Agthia profit, dividend jump

Transformation lifts earnings, cash generation.

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.

Abu Dhabi sees 67% annual rise in number of AI company registrations

Abu Dhabi, UAE - The number of AI companies registered in Abu Dhabi grew at a compound annual rate of...

Economy

Arab League organizes workshop to discuss BRICS role in MENA region

Cairo, Egypt--The Arab League (AL) on Sunday organized a workshop in Cairo to discuss the role of BRICS for African...

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
Business

Maersk lands Saudi deal

Maersk will set up a Logistics Park at Jeddah Islamic Port.
  • Maersk will set up an Integrated Logistics Park at Jeddah Islamic Port, investing more than SAR500m
  • The agreement is a step to make Jeddah Islamic Port among the top ten ports in the world by 2030
Research

Israel eyes influx of tourists from UAE, Bahrain

Israel is anticipating a significant influx of Emirati and Bahraini tourists as the global tourism industry starts recovering from the...
  • Israel expects 100,000 tourists a year from the UAE and Bahrain, with each tourist spending $1,500 per vacation
  • The Jewish state is expected to make $150 million annually in revenues from the Gulf tourists
Economy

Bahrain launches five-point plan to boost economy

The new five-pillar plan apparently aligns with Bahrain’s Economic Vision 2030 and its intention to achieve net-zero carbon emissions by...
  • The multi-year plan is said to represent one of Bahrain’s largest economic reform programs
  • It apparently aims to enhance the economy’s long-term competitiveness and support the post-Covid-19 recovery
Economy

Masdar City and ADRO facilitating Golden Visas for eligible persons

Masdar City Free Zone has been facilitating the processing and submission of Golden Visas for eligible persons and their families...
  • The Golden Visa is a 10-year residency for certain professions including specialized degree-holders and others.
  • Golden Visa is of particular relevance to Masdar City as it hosts more than 900 companies, says Executive Director Abdulla Balalaa.
Business

UAE payments industry expected to reach $14 billion by 2030

The UAE's payments industry, like several other countries in the world, suffered an impact far less severe than initially anticipated...
  • Like other countries, the industry in UAE suffered the Covid-19 impact less severe than anticipated, according to Boston Consulting Group.
  • The national payment revenues in the UAE expected to grow by 67 percent between 2020 to 2030.
Economy

Bahrain to deport a number of illegal expatriate workers

The violators were arrested during a clampdown conducted in the Muharraq governorate by the LMRA Labor Inspection Directorate.
  • They are to be deported in compliance with the law, Bahrain’s Labor Market Regulatory Authority or LMRA has said
  • It has also said it would step up such inspections in cooperation with competent authorities within the joint efforts with the Ministry of Interior
Economy

UAE fines, imprisons several for financial crimes

A top law official in the UAE has detailed several cases where the judicial system fined and jailed people for...
  • In one case, the former employee of a Dubai bank was convicted of embezzling more than AED5.23 million (around $1.42 million)
  • The money belonged to real-estate development companies and was deposited with the bank
Economy

Egypt sees Red Sea tourism rush from Russia

Russian tourists are finally returning to the Red Sea resort of Sharm el-Sheikh six years after a terrorist strike.
  • Russian tourists are beginning to return to Sharm el-Sheikh six years after a terror attack
  • The 2015 attack had seen the downing of a Metrojet plane that killed 224 mostly Russian passengers

Abu Dhabi sees 67% annual rise in number of AI company registrations

Abu Dhabi, UAE - The number of AI companies registered in Abu Dhabi grew at a compound annual rate of...
Economy

Company News

Latest News

At G20 meeting, UAE urges world to collaborate in scientific research

Mumbai, India--The UAE’s Minister of State for Public Education and Advanced Technology Sarah Al Amiri has urged the global community...
Economy

Iran emerging as a hub for health tourism in West Asia: Raisi

Tehran, Iran--Iranian President Ebrahim Raisi has claimed that health tourism in the country has attracted patients from neighboring countries and...
Business

DEWA exhorts customers to adhere to its safety standards

Dubai, UAE--Dubai Electricity and Water Authority (DEWA) has exhorted community members to ensure that safety standards are always in place...
Economy
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INSEAD Day 4- 300x600

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Economy

Abu Dhabi frames new grazing regulations to protect rangelands

Abu Dhabi, UAE-- In order to protect natural rangelands and promote sustainable traditional grazing practices, the Environment Agency – Abu...
  • The introduction of the new policy by the agency will ensure the recovery of vegetation cover and promote the sustainability of biodiversity
  • The new regulation mandates that licensees should stay away at least 2km from protected areas, forests, residential, military and private areas
Economy

Russia to cut oil output by another 500,000 bpd

Moscow, Russia - Russia on Friday confirmed the reduction of oil supplies to markets by 500,000 barrels daily in August...
  • Earlier, Deputy Prime Minister Alexander Novak told reporters that Russia will slash oil supplies to markets in August through the reduction of exports
  • Saudi Arabia and Russia have recently announced their decision to extend cuts to oil production in an effort to bolster global oil prices
Business

Saudia raises seat capacity by 10%

The number of domestic, international flights will rise.
  • This would be a 10 percent increase in the number of seats on a year-on-year (YoY) basis, the airlines said in a statement.
  • Saudi Arabian Airlines said that more than 4.2 million seats would be added to international flights.