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 budget records $10 billion deficit in Q4 2023

Riyadh, Saudi Arabia - Saudi Arabia's general budget recorded a deficit of $9.86 billion in the fourth quarter of 2023,...

Economy

South Korea presses for enhanced ties with UAE in high tech and AI

Dubai, UAE--South Korea has pressed for boosting cooperation with the UAE in the field of advanced technology and artificial intelligence...

Economy
Business

Riyadh leads Q2 Saudi Arabia residential market boom

Latest review by global property consultant Knight Frank says apartment values in Saudi capital grew by 7.6 percent year on...
  • Latest review by global property consultant Knight Frank says apartment values in Saudi capital grew by 7.6 percent year on year.
  • Riyadh and Jeddah likely to witness a 25 percent and 36 percent increase in total office supply in the next three years.
Business

Lebanon fuel scarcity leads to brawls that kill three

The fatalities have taken place in two different incidents in the country where fuel is scarce due to an ongoing...
  • In one case, two people were killed in a brawl in the Lebanese city of Tripoli
  • In the second instance, a youngster was shot dead at a gas station in a village
Business

Dubai Economy issues 3,243 trader licenses in H1

Trader License enables freelancers and start-ups to conduct businesses online and across social networking accounts.
  • Trader License enables freelancers and start-ups to conduct businesses online and across social networking accounts.
  • Males account for 63 percent of the licenses issued and IT tops the list of activities.
Business

Middle East’s largest wind farm produces first carbon-free MWh

The project, Saudi Arabia's first, is being developed by leading renewable energy companies EDF Renewable and Masdar.
  • The project, Saudi Arabia's first, is being developed by EDF Renewable and Masdar.
  • On completion, the farm will power about 70,000 Saudi households.
Business

Aramco net income rises to $25.5 billion in Q2

Higher oil prices and a recovery in demand, easing of COVID-19 curbs, vaccination campaigns, stimulus measures, and accelerating activity in...
  • The company announces a dividend of $18.8 billion.
  • Higher oil prices and a recovery in worldwide demand, easing of travel restrictions drive the rise in income.
Economy

Retail coffee prices rise as frost hits Brazil produce, freight costs go up

Arabica coffee on the ICE Futures US exchange has doubled in price over the last 12 months
  • The Covid-19 which caused shipping logjams has also contributed to cost escalation by pushing the freight costs to record levels
  • Arabica coffee on the ICE Futures US exchange has doubled in price over the last 12 months
Arts & Culture

Saudi borders reopen for vaccinated pilgrims

Authorities in the ministry responsible for coordinating foreign pilgrims will from Monday begin "gradually receiving Umrah requests from various countries...
  • Before Sunday's announcement, only immunised pilgrims resident in Saudi Arabia were eligible for umrah permits
  • The umrah is a pilgrimage that can be undertaken at any time -- distinct from the hajj, which takes place once annually
Business

Sukuk worth $174.6 billion issued globally in 2020

Sukuk has remained an attractive instrument and the positive growth trajectory has continued during the first half of 2021
  • The report said that as of December 2020, over 90 percent of the $648 billion Sukuk outstanding globally were issued from markets like Malaysia, UAE and the others
  • Sukuk has remained an attractive instrument and the positive growth trajectory has continued during the first half of 2021

Iraq looks up to IMF for $4bn loan

Iraq is confident about securing a $4 billion dollar loan from the International Monetary Fund (IMF) after it restarted talks...
  • International Monetary Fund and Baghdad opened talks last year amid the pandemic as demand shock sent oil prices tumbling
  • Iraq also expected to sign agreement with French oil and gas company before current government’s term ends
Economy

Jobs rise for first time in Egypt since 2019

Slight drop in headline seasonally adjusted PMI in July points to minor deterioration in the health of the non-oil sector.
  • Slight drop in headline seasonally adjusted Purchasing Managers’ Index in July points to minor deterioration in the health of the non-oil sector.
  • Influence of rising raw material prices, fuel costs, wages n cost pressures down in July, says IHS Markit survey.

Saudi budget records $10 billion deficit in Q4 2023

Riyadh, Saudi Arabia - Saudi Arabia's general budget recorded a deficit of $9.86 billion in the fourth quarter of 2023,...
Economy

Company News

Latest News

Gulf Union Alahlia Q1 profit $7.5m

Results were due to a fall in insurance services expenses.

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...
Business

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...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

UAE to deepen economic tie-ups with various world countries: Sheikh Saud

St. Petersburg, Russia-- The UAE is seeking to strengthen economic cooperation with many countries in the world in order to...
  • The ruler of Ras Al Khaimah was speaking at the opening session of the St. Petersburg International Economic Forum 2023 as the representative of the UAE
  • He drew attention of the audience to the efforts being accelerated in the UAE to enhance prosperity and deepen stability, as well as diversify non-oil revenues and investments
Economy

Qatar establishes itself as a top tourist destination

"Qatar Tourism is committed to building on the success of the FIFA World Cup 2022 and continuing to promote the...
  • Hosting the FIFA World Cup 2022 contributes to a record-breaking number of tourists visiting Qatar, says Qatar Tourism chief
  • Qatar Tourism focuses on promoting cultural authenticity, modern infrastructure, and a world-class travel experience, he adds
Business

Qatar Chamber looks to burnish lackluster gold and jewellery sector

Doha, Qatar-- In order to remove obstacles facing the gold and jewellery sector in the country, Qatar Chamber has reviewed...
  • The chamber meeting discussed bottlenecks facing the sector and the proposals received by the committee as per the results of a survey conducted last month
  • In order to develop the sector, the gold and jewellery committee was recently established to address and discuss the issues facing the sector in the country