INSEAD Day 4 - 728x90

Uncategorized

AD Ports Group acquires CLI

CLI is Brazilian agri-bulk terminal operator.

$1.59bn Makkah project awarded

A consortium will develop two districts in the Holy City.

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.

AI tools help choose best embryos, increase success rate for IVF

Paris, France -- Artificial intelligence tools can now help choose the most promising embryos for in vitro fertilisation (IVF), although...

Science

In Data Center Alley, AI sows building boom, doubts

Ashburn, United States -- As planes make their final approach to Washington DC's Dulles Airport, just below lies Ashburn, a...

Business
Business

ESG buys additional stakes in 2 firms

The stakes were acquired in Vision Factory and Decovision.
  • ESG had acquired 60 percent stake in Vision Factory, a key player in furniture and joinery production, in 2022.
  • ESG’s latest acquisition in Decovision, a premier provider of interior design and engineering services, increases its stake to 85 percent.
Business

Sharjah Islamic Bank signs Murabaha pact with Turkiye Wealth Fund

Sharjah, UAE -- Sharjah Islamic Bank (SIB) and the Turkiye Wealth Fund (TWF) have signed a Shariah-compliant Murabaha facility worth...
  • This agreement, facilitated by Dogan Investment Bank, marks the first time the Turkish Sovereign Wealth fund has launched Shariah-compliant financing from an international source.
  • The Turkiye Wealth Fund (TWF) is the entity responsible for the sovereign ownership of strategic and high-importance assets in Turkiye, including Turkish Airlines.
Business

UAE unveils National Policy on Biofuels aimed at emissions cut

The policy aims carbon emissions reduction through increased consumption of biodiesel by 20 percent by 2050. “It will lower the...
  • The policy has been developed by the Ministry of Energy and Infrastructure in coordination with its strategic partners from the public and private sectors.
  • Al Mazrouei said the policy supports the objectives of the National Energy and Water Demand-side Management Programme and the UAE Net Zero by 2050 Strategic Initiative.
Business

Emarat partners with Al Maryah Bank

Al Maryah gets first naming rights for Emarat fuel stations.
  • Under this partnership, Al Maryah Community Bank becomes the inaugural entity, both locally and globally, to secure the rights to name a fuel station.
  • Through Mbank Wallet application, customers can execute transactions by scanning the QR code at the checkout counters using their mobile phones.
Arts & Culture

‘Cultural initiatives key to nation’s advancement’

"Poetry holds a distinguished position among literary arts, especially within the Arabic language. As the foundational literary form in Arabic,...
  • UAE’s Minister of Culture highlights the significance of cultural endeavors and poetry in social and individual advancement.
  • World Poetry Day celebration emphasizes the foundational role of poetry in Arabic heritage and language, adds Sheikh Salem.
Business

Tabreed approves record dividend

The cash dividend of 15.5 fils per share was okayed at Tabreed's AGA.
  • As disclosed in the company’s recent full-year results for 2023, this represents an increase of 15 percent over the previous year.
  • Tabreed’s AGA also confirmed the appointment of two new board members: Geert Bunkens and Marion Deridder Blondel.
Business

Real estate deals worth $23bn recorded in Abu Dhabi in 2023: ADREC

Abu Dhabi, UAE -- Real estate deals worth AED 87.1 billion ($23.71 billion) were recorded in Abu Dhabi during 2023,...
  • The value of buying and selling activities surged by 159.5 percent compared to 2022, reaching AED61 billion.
  • ADREC reported this increase based on 15,653 transactions, representing a 73.7 percent rise from 2022.
Business

Al Ansari to pay $81m dividend

This brings the total amount of dividend for 2023 to $162m.
  • The approved cash dividend payment is in line with the dividend policy set out in the IPO prospectus.
  • The company had reported a net profit of AED495 million for 2023, a decrease of 15.7 per cent year-over-year, from AED595 millon.
Geostrategy

Hate crimes surge 32 percent in France following Gaza war: Govt

Police recorded 8,500 crimes and misdemeanors "committed because of the ethnicity, nationality, supposed race or religion" of the victim across...
  • There were twice as many crimes and misdemeanors recorded in October-December as in the same period in 2022.
  • "The increase can be seen from October, with a level of offences holding at the same high level in November before falling back in December," the report said.
Business

Nearly 71% firms plan to expand workforce in ADGM in 2024

Abu Dhabi, UAE:  A total of 70.81 percent of companies anticipate expanding their workforce in Abu Dhabi Global Market during...
  • Asset Management is poised to take the lead, as 18.56% of respondents recognize its significant growth potential.
  • Fintech and the fields of Digital Assets, Blockchain, and Distributed Ledger Technology, came second, with 17.08% and 16.83% of stakeholders banking on their rise respectively.

AI tools help choose best embryos, increase success rate for IVF

Paris, France -- Artificial intelligence tools can now help choose the most promising embryos for in vitro fertilisation (IVF), although...
Science

Company News

Latest News

Biden cancels $4.28 bn more in student debt before leaving office

Washington, United States -- US President Joe Biden said Friday he was canceling student loans for an additional 55,000 Americans, which...
Geostrategy

Honda and Nissan in merger talks as electric vehicle competition intensifies

Tokyo, Japan --Japanese auto giant Honda and its struggling rival Nissan will reportedly begin talks on a merger to boost their...
Business

Turkey, Iran leaders at Cairo summit urge action to address Gaza, Syria crises

Cairo, Egypt -- The leaders of Turkey and Iran were in Egypt on Thursday for a summit of eight Muslim-majority countries,...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Saudi tourism sector employee number rises by 5.1 percent in second quarter

Riyadh, Saudi Arabia – The number of employees in tourism-related activities in Saudi Arabia increased by 5.1 percent in the...
  • GASTAT's Tourism Establishments Statistics bulletin for the second quarter of 2024 said that of these employees, Saudi nationals accounted for 25.6 percent (245,905 employees.
  • Male employees dominated the sector, representing 86.6 percent of the workforce (831,076 employees), with women comprising 13.4 percent (128,099 employees).
Geostrategy

Coal use at record high in 2024, the world’s hottest year: IEA

Paris, France -- World coal use is set to reach an all-time high in 2024, the International Energy Agency said Wednesday,...
  • China drives global coal demand to new heights, consuming 4.9B tons in 2024—over 30% more than the rest of the world.
  • The IEA's "Coal 2024" report predicts the world will hit peak coal in 2027 after topping 8.77 billion tons this year.
Business

ADNOC Drilling closes JV

It is a JV between ADNOC Drilling, SLB and Patterson UTI.
  • ADNOC Drilling holds a 55 percent majority equity stake, SLB, the world's largest oilfield services provider, holds a 30 percent equity stake and Patterson-UTI 15 percent.
  • Turnwell announced the acceleration of its initial 144 unconventional wells earlier this year, following the successful operational startup.