INSEAD Day 4 - 728x90

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Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

GCC’s quest for AI dominance has several hurdles to surmount

For governments and corporates across the Gulf, the immediate task is pragmatic: marry sovereign ambition with sustainable skills programs and...

Business

World Bank lifts 2026 growth forecast, warns of softer demand

The bank expects world GDP growth of 2.6 percent this year, according to its latest global economic prospects report. The...

Economy
Business

Dubai begins construction of ‘world’s largest’ airport terminal

"We approved the designs for the new passenger terminal at Al Maktoum International Airport, and (are) commencing construction of the...
  • Once fully operational, the airport will "handle a passenger capacity of 260 million annually", the government said in a statement.
  • Sheikh Mohammed said it will have "the world's largest capacity" and be "five times the size of the current Dubai International Airport", one of the world's busiest air hubs.
Arts & Culture

Saudi Arabia could get first Miss Universe contestant this year

Riyadh, Saudi Arabia -- Saudi Arabia could have its first Miss Universe contestant this year, organizers said this week, after a...
  • Saudi model Rumy al-Qahtani said she was in "negotiations" about participation in Miss Universe but declined to provide further details.
  • Qahtani told AFP she had previously participated in various pageants in the Middle East and Europe and posed with several sashes she said she obtained at the competitions.
Geostrategy

Saudi Arabia to host top Arab, EU diplomats for Gaza talks: officials

The two-day World Economic Forum special meeting, scheduled to begin in Riyadh on Sunday, includes in its official program appearances...
  • French Foreign Minister Stephane Sejourne is among European officials travelling to Riyadh during the summit for talks on Gaza.
  • Saudi Arabia's neighbor Qatar hosts a Hamas political office and has served as a mediator in talks that have so far failed to secure a durable ceasefire.
Business

Saudi oil giant Aramco agrees major FIFA sponsorship deal

The deal involves sponsorship rights for multiple events including the 2026 Men's World Cup and the Women's World Cup the...
  • The deal is the latest high-profile investment in global sports for Saudi Arabia who have already been confirmed as the only bid for the 2034 World Cup.
  • In a joint statement it was confirmed Aramco would become FIFA's Major Worldwide Partner exclusive in the energy category.
Geostrategy

Oman, UAE deluge ‘most likely’ linked to climate change: Study

Dubai, United Arab Emirates -- Global warming caused by fossil fuel emissions "most likely" exacerbated the intense rains that lashed the...
  • Extreme rainfall in El Nino years has become 10-40 percent heavier in the region affected, a study published by the World Weather Attribution (WWA) group found.
  • Twenty-one people died in Oman and four in the United Arab Emirates, which was battered by the heaviest rainfall since records began for the desert Gulf state 75 years ago.
Business

ADQ buys stake in Plenary Group

The deal is aimed at expanding public and social infrastructure.
  • ADQ will acquire a 49 percent stake in Plenary, including all shares currently owned by Canadian pension fund Caisse de dépôt et placement du Québec.
  • Established in 2004, the Plenary has a portfolio of 21 assets under management valued at over US$25 billion across Australia and the Middle East.
Business

Israel pummels Gaza after US approves military aid

US-Israeli relations been strained by Israel's conduct of the war in Gaza and Israeli Prime Minister Benjamin Netanyahu's determination to...
  • Media reports said Israel was planning to move civilians from Rafah to nearby Khan Yunis over a period of two to three weeks.
  • Israeli assault has left much of Gaza's medical system in ruins, with medics struggling to treat both casualties of the war and people with pre-existing conditions.
Business

FPT and Nvidia to build AI factory

Nvidia had invested around $250 million in Vietnam.
  • FPT said it has established a strategic partnership with Nvidia, which includes plans to build a $200-million-dollar AI factory using Nvidia's AI software and chips.
  • Nvidia's singular role in the AI revolution has taken the world by storm, with its powerful GPU chips and software an integral ingredient in the creation of generative AI.
Geostrategy

Baby delivered from dying mother’s womb in Gaza ‘miracle’

At just seven months pregnant, her mother, Sabreen al-Sakani, reached the emergency unit in critical condition after she was fatally...
  • "It's a miracle that she was still alive, despite her difficulties in breathing," said Sahib al-Shams, a surgeon and director of the Kuwaiti hospital in Rafah.
  • "The mother died 10 minutes later," Shams said, adding that the baby's father and sister had been declared dead on arrival at the hospital.
Business

Qatar reveals program, speakers for Autonomous e-Mobility Forum

Doha, Qatar – The Autonomous e-Mobility (AEMOB) Forum, a groundbreaking initiative in the realm of sustainable transportation, announced its final...
  • The event is slated to take place from April 30 to May 2, 2024, at the Qatar National Convention Centre (QNCC) in Doha.
  • It has attracted significant sponsorship from over 20 prominent organizations. Notable sponsors include Mowasalat Company (Karwa).

GCC’s quest for AI dominance has several hurdles to surmount

For governments and corporates across the Gulf, the immediate task is pragmatic: marry sovereign ambition with sustainable skills programs and...
Business

Company News

Latest News

UAE aviation sector’s 2024 milestone: 1 million air traffic movements

Abu Dhabi, UAE -- The United Arab Emirates (UAE) achieved a milestone in the aviation industry as it surpassed 1...
Business

Saudi PMI falls to 58.4 in Dec as non-oil private sector improves

Riyadh, Saudi Arabia -- The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia...
Business

Desert truffles: Saudi Arabia’s buried treasure

The 10-day Qassim Truffle Festival, currently in its fourth year, features 18 booths showcasing truffles, a dedicated auction area and...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Renowned designer Cucinelli stresses sustainability at Saudi event

Riyadh, Saudi Arabia -- Renowned luxury fashion designer Brunello Cucinelli shared his insights on building a global brand and the...
  • Brunello Cucinelli, who founded his luxury fashion brand in 1978 in Italy, is recognized for creating meticulously crafted pieces from the finest cashmere.
  • He emphasized the need to blend traditional techniques with modern design to create unique and authentic pieces.
Business

Emirates’ first A350 takes flight

The airline operated the inaugural flight from Dubai to Edinburgh.
  • The aircraft, featuring Emirates' latest cabin products, is the first of 65 A350s joining the airline's fleet over the coming years.
  • Emirates has configured its A350 to provide three cabin classes, accommodating 312 passengers in 32 next-generation Business Class lie-flat seat.
Geostrategy

Winter rains, flooding and limited aid worsen Gaza tragedy: IOM

"Vulnerable people, including at least seven infants, have died from hypothermia, and these tragic deaths underscore the urgent need for...
  • As of mid-Dec, the Shelter Cluster, a coordination group of UN, international and local humanitarian, estimates at least 945,000 still urgently need winterization assistance.
  • IOM has delivered nearly 180,000 emergency shelter items to partners inside Gaza since mid-November and has over 1.5 million more winter supplies.