INSEAD Day 4 - 728x90

Uncategorized

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

Divided US Fed set for contentious interest rate meeting

When the Fed last met in October, Chair Jerome Powell asserted that another rate cut in December was "not a...

Economy

Amazon unveils new AI chip in battle against Nvidia

San Francisco, United States -- Amazon Web Services launched its in-house-built Trainium3 AI chip on Tuesday, marking a significant push...

Business
Geostrategy

UN court to weigh consequences of Israel occupation

The UN's top court will hold hearings on the legal consequences of Israel's occupation of Palestinian territories since 1967, with...
  • While any ICJ opinion would be non-binding, it comes amid mounting international legal pressure on Israel over the war in Gaza sparked by the brutal October 7 Hamas attacks.
  • The hearings are separate from a high-profile case brought by South Africa alleging that Israel is committing genocidal acts during the current Gaza offensive.
Arts & Culture

London hosts showcase for world’s biggest grand opera in Arabic

London, United Kingdom -- The production operations of Zarqa al-Yamamah Opera, the first grand opera to be produced by Saudi Arabia...
  • The Zarqa al-Yamamah Opera is set to begin in Riyadh in mid-April and extend to multiple local and international performances.
  • Zarqa Al-Yamamah is a legendary character in Arab history during the pre-Islamic era.
Geostrategy

Russian opposition leader Alexei Navalny dies in prison

Western governments immediately attacked the Kremlin over the death of the most outspoken critic of President Vladimir Putin. Navalny lost...
  • The 47-year-old was Russia's most prominent opposition leader and won a huge following with his criticism of corruption in Vladimir Putin's Russia.
  • Navalny's exposes, posted on his YouTube channel racked up millions of views and brought tens of thousands of Russians to the streets, despite Russia's harsh anti-protests laws..
Geostrategy

5 die in Israeli-raided hospital after oxygen cut: Gaza ministry

Palestinian Territories -- The health ministry in Gaza said five patients died Friday due to lack of oxygen at one...
  • A witness, who declined to be named out of fear for their safety, said army snipers shot "at anyone who moved inside the hospital".
  • Medical charity Doctors Without Borders (MSF) said on Thursday that shelling of the hospital had forced its staff to flee, leaving patients behind.
Business

solutions to pay 60% cash dividend

The company posted a 13 percent rise in net profit for 2023.
  • The profit increase was mainly due to the SAR 587 million uptick in gross profit, as revenues grew year-on-year (YoY) by 25.4 percent.
  • In Q4 2023, net profit fell 17.8 percent to SAR 162 million from SAR 197 million in Q4 2022.
Geostrategy

Israel sends troops into besieged Nasser hospital in Gaza’s Khan Yunis

The raid came after days of intense fighting between troops and Hamas around the Nasser hospital in Khan Yunis --...
  • It has called the situation at Nasser "catastrophic", with staff unable to move bodies to the morgue because of the risks involved.
  • The World Health Organization has described Nasser hospital as a critical facility "for all of Gaza", where only a minority of hospitals are even partly operational.
Business

IEA warns on plummeting oil stocks as growth in demand ebbs

"As the IEA celebrates its 50th anniversary this week, oil supply security remains as critical as ever," said the agency...
  • The agency forecast that "the pace of expansion is set to decelerate further to 1.2 mbd in 2024, compared with 2.3 mbd last year".
  • The reasons it gave for that were economic woes but also progress towards greater energy efficiency and the growing global market share of electric vehicles.
Business

Tabreed 2023 revenue up 9%

The company reported a net profit of $204 million.
  • Tabreed’s Board of Directors has recommended a record high dividend payment of 15.5 fils per share in cash.
  • Net cash from operating activities totaled AED 1.31 billion in 2023 (AED 1.35 billion in 2022), while free cash flows increased by 8 percent to AED 1.21 billion.
Business

UCC Holding signs contracts for seven Kazakhstan projects

Doha, Qatar -- UCC Holding, a Qatari company, has signed two energy contracts for seven projects in Kazakhstan. The first...
  • The first contract with QazaqGas includes two gas treatment plants:1 BCMA Gas Processing Plant Project and 2.5 BCMA.
  • The second contract includes the construction of a combined cycle gas turbine (CCGT) power plant with a total capacity of about 1,100 MW in the Kyzylorda region.
Business

AD Ports Group net profit up 6%

Revenue growth driven by ports, logistics, and digital clusters.
  • The Group said it more than doubled year-on-year to AED11.68 billion, up 58% YoY to AED 8.71 billion on a like-for-like basis.
  • General cargo volumes rose by 26 percent YoY to reach 40 million tons in 2023, compared with 31.7 million tons in 2022, 13 percent YoY on an LFL basis.

Divided US Fed set for contentious interest rate meeting

When the Fed last met in October, Chair Jerome Powell asserted that another rate cut in December was "not a...
Economy

Company News

Latest News

QatarEnergy inks gas supply deal for China with Shell

Doha, Qatar - Qatar has agreed to supply three million tonnes of gas a year to China in a deal...

Aramco-Horse Powertrain deal completed

An agreement for the purchase of 10% equity stake was signed in June 2024.
Business

Macron to hold talks with Crown Prince Salman on Saudi visit

Macron is beginning the first state visit by a French president to Saudi Arabia since Jacques Chirac in 2006, cementing...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

Gulf summit in Kuwait urges ‘immediate ceasefire’ for Gaza

Kuwaiti Emir Sheikh Meshal al-Ahmad al-Sabah called on the international community to implement "an immediate ceasefire, providing international protection for...
  • Sheikh Meshal hit out at what he characterized as the "double standards in the application of relevant international laws, charters and resolutions."
  • The Kuwaiti ruler spoke in support of Saudi Arabia's work to form a global body pushing for an independent Palestinian state.
Geostrategy

Trump threatens 100% tariff on BRICS countries over currency plans

Washington, United States -- President-elect Donald Trump on Monday threatened to impose a 100 percent tariff on the BRICS group nations...
  • The statement comes after a BRICS summit held last month in Kazan, Russia, where the countries discussed boosting non-dollar transactions and strengthening local currencies.
  • The BRICS group has expanded significantly since its inception in 2009, and now includes countries such as Iran, Egypt and the United Arab Emirates
Business

Elon Musk asks US court to block OpenAi’s for-profit conversion

Washington, United States -- Elon Musk has again asked a US court to stop ChatGPT-maker OpenAI from converting into a for-profit...
  • The move is the latest development in a business feud between OpenAI and Musk, who co-founded the group in 2015 but has since left.
  • OpenAI has seen its profile skyrocket over recent years as it has become a star player in the growing field of artificial intelligence.