INSEAD Day 4 - 728x90

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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.

Mediators Egypt, Qatar, others ‘concerned’ about Israel opening one-way Gaza exit

The countries voiced "their absolute rejection of any attempts to expel the Palestinian people from their land" and said they...

Geostrategy

Saudi powers forward with deficit spending to fund reforms

The Arab world's largest economy is overseeing a major push to slash its dependence on oil revenues, with officials pouring...

Economy
Geostrategy

‘Multilateral approach needed to address Gaza crisis’

The 'Amalthea' initiative, recently announced by Cyprus, is crucial for the efforts to launch the maritime corridor and the UAE...
  • A concerted international effort is underway to open humanitarian corridors to Gaza, with a focus on a maritime corridor for urgent aid delivery.
  • The 'Amalthea' initiative, aiming to safely ship aid from Cyprus to Gaza by sea, marks a critical step in international efforts to alleviate the crisis.
Geostrategy

Despite post-Covid development rebound, rich-poor gap widens: UN

The rebound follows two years of decline, when, in 2021 and 2022, the global Human Development Index fell twice in...
  • The 2023 estimate shows metrics in every category -- life expectancy, education and standard of living -- are projected to exceed their pre-2019 values.
  • "What we're seeing is that the poorest and most vulnerable segments of our society are being left behind," head of the UNDP Achim Steiner said.
Business

Mubadala to anchor US-based Blue Opal’s second venture capital fund

MIC will be an anchor investor in their second venture capital fund.
  • Blue Opal Capital recently launched a Fund-of-Fund platform that focuses on identifying and investing in exceptional entrepreneurial venture capitalists.
  • Blue Opal Capital invests in emerging venture capital funds and co-investment opportunities that maximize investment returns for their partners.
Business

Land transport of goods leads Saudi commercial registrations in Q4

Riyadh, Saudi Arabia -- Saudi Arabia witnessed a surge in commercial registrations across various business sectors in the last quarter...
  • The resorts activity saw a significant 51 percent annual increase, reaching 3.37 million records by Q4 2023.
  • Boutique hotels witnessed a surge of 74.4 percent, with commercial records reaching 1.91 million by Q4 2023.
Business

Women returners to MENA workforce can contribute $385bn to GDP

Doha, Qatar -- Women returning to the workforce following a career break have the potential to contribute nearly $385bn to...
  • A PwC Middle East study shows nearly half (44%) of women in MENA have taken a break over the course of their careers, typically driven by family and caregiving responsibilities.
  • The report draws insights from over 1,200 women in the UAE, Saudi Arabia, Qatar, Egypt, Bahrain, Jordan, Kuwait, Lebanon, and Oman.
Business

Walaa posts $39m net profit

The insurance provider had suffered a loss of $18.15m in 2022.
  • Walaa attributed the increase in net profit to insurance revenue of SAR 28.12 million in 2023 compared to a loss of SAR 119.9 million in 2022.
  • In Q4 2023, the company recorded a net profit of SAR 45.3 million, against a net loss of SAR 11.41 million in the same quarter of previous year.
Geostrategy

US troops depart for mission to build temporary Gaza aid port

The first -- a hulking gray-painted watercraft known as a Logistics Support Vessel -- slowly churned away from the pier...
  • The US has said the effort will not involve "boots on the ground" in Gaza, but American troops will come close to the beleaguered coastal territory as they construct the pier.
  • A series of airdrops carried out by the US to deliver aid this month is far too insufficient to feed the far higher number of people in need of assistance in Gaza.
Business

Yalla Group 2023 revenue $318m

The company's fourth quarter revenue soared to $80.9 million.
  • In the last quarter of 2023, Yalla's net margin was 36.6 percent alongside an impressive non-GAAP net margin of 41.3 percent.
  • Yalla reported a 13.3 percent year-over-year increase in average monthly active users (MAUs), reaching 36.2 million in the final quarter of 2023
Business

Dubai hotel occupancy up 3.4% to reach 90.8 percent in Feb

Dubai, UAE -- Dubai hotels achieved a 3.4 percent year-on-year growth in occupancy levels, reaching 90.8 percent, according to preliminary...
  • Other key metrics also showed positive growth, with the average daily rate (ADR) increasing by 9.3 percent to AED 887.06 ($241).
  • The revenue per available room (RevPAR) rising by 13.1 percent to AED 805.21, according to CoStar, a provider of global real estate information.
Business

EIC to pay $22m dividend

The company's board had decided 15% cash dividend for H2 2023.
  • The company had reported a 113 percent increase in net profit to SAR 201 million in 2023, compared to 94 million a year ago.
  • The increase in net profit was attributed to an increase in sales from SR 1.066 billion to SR 1.559 billion

Mediators Egypt, Qatar, others ‘concerned’ about Israel opening one-way Gaza exit

The countries voiced "their absolute rejection of any attempts to expel the Palestinian people from their land" and said they...
Geostrategy

Company News

Latest News

US Federal Reserve expected to cut rates in last meeting of Biden era

Washington, United States -- The US Federal Reserve is widely expected to announce a quarter point cut to its key lending...
Business

Cybersecurity in 2024: From talent shortages to resilience against emerging tech risks

In 2024, cybersecurity remained central, addressing skill gaps and the impact of generative AI. A Strategic Cybersecurity Talent Framework offered...

Family-friendly ‘Astro Bot’ wins highest award at Oscars of video games

Los Angeles, United States -- Video game "Astro Bot" -- a family-friendly sci-fi adventure -- was named 2024's Game of the...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Arts & Culture

‘A matter of pride’: Saudis rejoice as World Cup bid approved

Riyadh, Saudi Arabia -- Fireworks and drones depicting the iconic golden World Cup trophy lit up the sky in Saudi Arabia's...
  • Sports are a major component of the Vision 2030 reform agenda overseen by Crown Prince Mohammed bin Salman, which aims to diversify the economy of the world's top oil exporter.
  • Sports Minister Prince Abdulaziz bin Turki Al-Faisal said Saudi Arabia was "opening up to the world" and could help football grow globally.
Business

Ras Al Khaimah tourism sector contributes 5 percent to GDP: Official

Ras Al Khaimah: Ras Al Khaimah seeks to welcome 3.5 million tourists annually by 2030, says Raki Philipps, CEO of Ras...
  • The tourism sector's contribution toward GDP is expected to rise to one third by 2030, says CEO RAK Tourism Development Authority Raki Phillips.
  • Ras Al Khaimah includes over 38,000 companies across more than 50 sectors, with businesses from over 100 countries.
Business

Google unveils its most advanced Artificial Intelligence model, Gemini 2.0

San Francisco, United States -- Google on Wednesday announced the launch of Gemini 2.0, its most advanced artificial intelligence model to...
  • CEO Sundar Pichai said the new model would be marking what the company calls "a new agentic era" in AI development.
  • Gemini 2.0 is initially being rolled out to developers and trusted testers, with plans for broader integration across Google's products.