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.

Saudi Arabia set to establish more smart industrial zones

Riyadh, Saudi Arabia - Saudi Arabia will establish more smart industrial zones, Minister of Municipal and Rural Affairs and Housing,...

Economy

UAE is an exceptional economic leader in Middle East

"We've collaborated closely with the World Governments Summit for over a decade. It presents a vital opportunity to foster innovative...

Economy
Geostrategy

MENA connectedness ranking rising: Survey

The UAE is the highest ranked in the region, and the fourth country globally, in terms of overall global connectedness.
  • Ranks third among the world’s seven regions and is well above the global average.
  • UAE is the highest ranked in the region, and the fourth country globally, in terms of overall global connectedness.
Business

ADNOC Distribution H1 net profit $313m

Higher fuel volumes, improvement in non-fuel and commercial gross profit margin and increased operational efficiencies made in the first half...
  • The company’s fuel volumes saw progressive recovery towards pre-COVID-19 levels.
  • In H1 2021, the company received no objection certificates from the Saudi General Authority for Competition to acquire 35 stations in the kingdom.

Dubai exports, re-exports to West Africa rise by 42% during H1

Nigeria was the largest West African export market for member companies, accounting for a 32 percent share of the value...
  • Plastics accounted for 31 percent of exports, followed by electrical machinery/electronics (14 percent)
  • Commodities with the highest untapped potential for export and re-export include polyethylene, sugar cane and rice, trigger batteries.
Economy

Saudi industrial production rises to 11.9 percent

Saudi Arabia has reported a sharp rise in its Industrial Production Index (IPI) to 11.9 percent in June 2021 from...
  • The increase resulted Increase mainly from mining and quarrying, which gained 19.3 percent
  • Oil production rose from 7.4 million bpd in June 2020 to 8.9 million bpd in June 2021
Economy

Egypt’s headline inflation rises to 5.4 percent

Egypt's annual urban consumer inflation increased to 5.4% in July from 4.9% in June, official statistics agency CAPMAS said on...
  • Month-on-month inflation also went up to 0.9 percent from 0.2 percent
  • CAPMAS attributed the hike to the increase in prices of oils and fats, meats, vegetables, housing, water, electricity, gas and fuel
Business

ADNOC and Fertiglobe to sell blue ammonia to Idemitsu

The sale is part of UAE-Japan industrial cooperation and development of ammonia supply chains.
  • ADNOC sold its first cargo of blue ammonia to Japan's Itochu on Aug. 3.
  • Sales part of UAE-Japan industrial cooperation and development of ammonia supply chains.
Business

Investors may prefer this new Abu Dhabi license

New license for professionals to be issued by ADDED allows 100 foreign ownership of a business. ADDED also highlighted that...
  • ADDED will also issue a form of service agent agreement to streamline the relationship between partners.
  • 604 activities covered under the license, including accounting, training, consultancy, beauty centers.
Economy

Saudi budget deficit narrows sharply

Better days for Saudi economy seem to be on the horizon as the kingdom’s budget deficit has narrowed sharply in...
  • Saudi budget deficit fell by 38 percent from Q1
  • Spending rose to SR252 billion from SR212 billion
Business

US announces extra $165 mln in Yemen aid

Yemen's conflict flared in 2014 when Iran-backed Huthi rebels seized the capital Sanaa
  • Yemen's conflict flared in 2014 when Iran-backed Huthi rebels seized the capital Sanaa
  • The fighting has killed tens of thousands, displaced millions and left some 80 percent of Yemenis dependent on aid
Business

Dubai Chamber launches online tool to fill $10b export gaps

The launch of the tool is in line with the emirate’s new target to boost its foreign trade from around...
  • The tool is focused at 30 promising markets across the MENA region, Asia, Africa, and Europe
  • They added that Dubai Chamber’s online tool has 26 major commodities listed on it

Saudi Arabia set to establish more smart industrial zones

Riyadh, Saudi Arabia - Saudi Arabia will establish more smart industrial zones, Minister of Municipal and Rural Affairs and Housing,...
Economy

Company News

Latest News

Oman’s SMEs leading the way in transition to a low carbon economy: report

Muscat, Oman - The small and medium-sized enterprises (SMEs) are playing a critical role in ushering in Oman's shift towards...
Economy

UAE’s foreign trade records 17% jump to US$607bn in 2022

The boost in foreign trade comes on the back of the signing of the comprehensive economic partnership agreements that the...
Economy

Sheikh Mohammed inaugurates 5th phase of Mohammed bin Rashid Al Maktoum Solar Park

DUBAI, UAE -  Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Dubai Chamber of Digital Economy launches report on the emirate’s economy 

DUBAI, UAE  - Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has launched its...
  • Dubai's Venture Capital Ecosystem provides an overview of the investor landscape backing start-ups and scale-ups in the MENA region.
  • Dubai Chamber of Digital Economy is tasked with attracting leading tech firms, start-ups and scale-ups that can support the Emirate's digital ambitions.
Economy

Arab League urges action to confront drought, desertification

Cairo, Egypt--The Arab League has called for efforts to confront drought and desertification in light of number of Arab countries...
  • The statement from Arab League came on the occasion of the 29th World Day to combat desertification and drought, themed "her land, her rights"
  • The Arab League, according to the statement, will concentrate on women's land rights as a vital part to achieve the global goal of gender equality
Economy

Saudi Arabia’s international reserve assets up first time in 6 months

Foreign currency reserves, representing 94 percent of total assets, fell nearly 2 percent year-on-year in May to SAR 1.56 trillion...
  • The other major currencies held by Saudi Arabia include euros, Japanese yen, and British pounds. Special drawing rights (SDRs) grew 1 percent YoY.
  • SAMA uses the country's reserve assets to support the Saudi riyal, to finance the government's budget deficit, and to invest in foreign assets.