Latest Business and Economy News from Dubai

Nvidia earnings jump 85% as revenue hits USD$81.6bn

Abu Dhabi, United Arab Emirates – May 21, 2026: Nvidia has done it again, beating on the top and bottom line and guiding the current quarter well above Wall Street estimates, yet the share price barely moved. That tepid reaction has become the new normal for the world's most valuable company, and it tells us exactly how high the bar has been set in the AI trade.According to Josh Gilbert, Lead Analyst, Middle East at eToro: Revenue of USD$81.6 billion was up 85% on the same quarter last year, with the all-important data centre business pulling in USD$75.2 billion, growth of 92%. For a company of this size to still deliver that level of growth is staggering. Guidance for the July quarter came in at around USD$91 billion, comfortably ahead of the USD$87 billion consensus, while management lifted the quarterly dividend to 25 ......read full news

GCC insurance market poised for continued growth amid geopolitical challenges, reveals Alpen Capital report

Dubai, May 20, 2026: Dubai based investment banking advisory firm, Alpen Capital released its GCC Insurance Industry Report 2026, outlining steady growth for the GCC insurance sector, with gross written premiums (GWP) expected to rise at a CAGR of 4.9 percent between 2025 and 2030, reaching US$61.8 billion. During the same period, the non-life insurance segment is anticipated to grow at a CAGR of 5.2 percent to reach US$ 54.1 billion by 2030, comprising 87.6percent of the region’s total GWP. This outlook remains subject to prevailing economic and geopolitical conditions.In addition to presenting the growth outlook, the report provides a comprehensive overview of the GCC insurance sector, outlining recent trends, growth drivers and challenges. It also profiles select insurance companies in the region.“The GCC ......read full news

Teyseer Motors Selects SAP to Integrate Dealership Operations and Enable AI-Driven Growth

Implementation of SAP S/4HANA Private Cloud will unify sales and aftersales processes across multi-brand portfolio and support regional expansion strategyFrom left: Ramy Said Abdulghani, Head of Automotive Cluster at Teyseer Motors, and Alaa Jaber, Managing Director, Qatar & Fast Growth Markets, SAPDOHA, Qatar – 19 May 2026 – Teyseer Motors W.L.L., a leading multi-brand automotive dealer in Qatar, has selected SAP SE (NYSE: SAP) to deploy an integrated digital platform that will unify its dealership operations and lay the foundation for AI-driven decision-making across the business. The project will see the implementation of SAP S/4HANA Private Cloud and an industry-specific Dealer Business Management (DBM) solution to deliver an advanced, end-to-end automotive platform across the company's multi-brand ......read full news

M+C Saatchi Group Middle East Appoints Lana Bdeir as Chief Growth Officer

M+C Saatchi Group Middle East has announced the appointment of Lana Bdeir as Chief Growth Officer. In her new role, Bdeir will lead the agency’s growth agenda across the region, with a focus on accelerating new business, sharpening M+C Saatchi Middle East’s positioning in an increasingly competitive landscape, and aligning its specialist capabilities into a cohesive, growth-driven proposition. She will work closely with leadership teams across the Group’s specialisms spanning advertising, media, sponsorship, talent management, PR, social, consulting, production, and Sport & Entertainment.Bdeir brings over two decades of experience spanning the Middle East, Europe, and global markets, with a track record of transforming businesses and repositioning brands at critical inflection points.She ......read full news

SALAMA Reports Record Profit and Strengthened Solvency in Q1 2026

Net profit rose to AED 14 million in Q1 2026 from AED 0.4 million in Q1 2025 Shareholders' equity grew 40% to AED 505 million, reflecting a significantly reinforced capital base Solvency ratio increased from 76% to 159% following the successful completion of the capital raise Earnings per share (EPS) increased to AED 0.023 from AED -0.001, 2,400% year-on-year increase UAE business delivered its first positive net underwriting result since Q2 2022 Performance driven by disciplined underwriting, operational efficiency, portfolio optimization and capital strengthening initiatives implemented under Group’s strategic transformation program focused on sustainable profitability over top-line growthDubai, UAE – 19 May 2026 – Islamic Arab Insurance Company (Salama) PJSC (“SALAMA”), one of the ......read full news

SAB Invest the First Market Maker for ETFs on the Saudi Exchange

A landmark achievement that establishes SAB Invest as the first ETF Market Maker in the Saudi Exchange, reinforcing its leadership in this field Enhanced liquidity in SAB Invest Saudi Quant ETF (Ticker: 9402), with tighter bid-ask spreads and improved pricing efficiency, enabling a smoother and more effective trading experience for investorsRiyadh, Kingdom of Saudi Arabia, 18 May 2026 – SAB Invest, the investment arm of Saudi Awwal Bank (SAB), today announced its official registration by the Saudi Exchange (Tadawul) as the first ETF market maker in the Kingdom. This landmark achievement marks a new era for Saudi Arabia's capital market, supporting Vision 2030's Financial Sector Development Program and delivering tangible benefits to investors through improved ETF trading efficiency.As the first entity to be ......read full news

National Bank of Fujairah and GENAVCO Sign MoU to Strengthen Equipment Financing Across Key Industrial Sectors

Agreement signed during Make it in the Emirates supports businesses operating across construction, infrastructure, logistics, and industrial sectorsAbu Dhabi, United Arab Emirates – 18 May 2026: National Bank of Fujairah PJSC (NBF) has signed a Memorandum of Understanding (MoU) with GENAVCO, a proud affiliate of Juma Al Majid Holding Group LLC, to establish a strategic partnership. The agreement is aimed at supporting customers across the construction, infrastructure, logistics, and industrial sectors through tailored financing and banking solutions.The MoU was signed by Rehan Ali, Head of Business Banking at National Bank of Fujairah, and Asif Khan, General Manager at GENAVCO Group, on the sidelines of Make it in the Emirates 2026, reinforcing a shared commitment to supporting long-term industrial development and advancing ......read full news

CFI Launches Local Stock Trading on DFM, Signature Moment for Investors

Dubai, UAE 18 May 2026: CFI Financial Group, the region’s leading online trading provider, is proud to announce the launch of more than 40 local stocks listed on the Dubai Financial Market (DFM). This milestone marks a significant step in CFI’s regional expansion, enabling clients to trade DFM-listed equities through a secure and regulated platform.The integration enhances market accessibility by connecting investors directly to leading UAE-listed companies across sectors such as real estate, banking, logistics, telecom, and utilities.By simplifying access to DFM-listed securities, CFI is giving a broader base of investors the opportunity to participate in the UAE’s economic growth story and benefit from diversified investment opportunities.“This is more than just a product launch, it's a ......read full news

KIB joins International Valuation Standards Council, strengthening its leadership in the real estate sector

Kuwait, 16 May 2026: Kuwait International Bank (KIB) announced joining the International Valuation Standards Council (IVSC), marking a strategic step that reflects its ongoing commitment to advancing the real estate services ecosystem and enhancing the quality of property valuation in line with the highest international standards.This move builds on KIB’s position as one of the leading financial institutions in providing integrated real estate solutions, including financing, advisory, valuation, and real estate asset management. These services are supported by an advanced digital infrastructure that improves operational efficiency and fosters high levels of transparency and professionalism within Kuwait’s real estate market.KIB’s membership in IVSC marks a first for Kuwait’s banking sector, as the first ......read full news

Ooredoo Kuwait Marks Kuwaiti Women's Day: Investing in Women Empowerment is a National Investment

Kuwait City – 16 May 2026 — At a time when Kuwaiti women are playing an increasingly influential role in shaping the nation’s economic and social landscape, Ooredoo Kuwait has reaffirmed its position as one of the country’s leading corporate advocates for female empowerment, marking Kuwaiti Women’s Day with a renewed commitment to diversity, inclusion and leadership development.The leading telecom company and digital enabler confirmed that women now represent 28.5% of its workforce, with a growing presence across senior management and strategic leadership positions; reflecting the company’s long-term commitment to promoting equal opportunities and nurturing local talent.The announcement comes amid broader national efforts to expand women’s participation across key sectors of the Kuwaiti ......read full news

RWE and Masdar receive planning permission for 3GW Dogger Bank South offshore wind farm projects

Lord Whitehead, on behalf of the UK Energy Secretary, gives consent to both Dogger Bank South East and West offshore wind farm projects The two 1.5GW projects are being developed as a joint venture between RWE and Masdar, and would be co-located over 100km off the northeast coast of England Both projects secured Contracts for Difference in the UK Government's Auction Round 7 and will now progress towards a final investment decision and constructionAbu Dhabi/Swindon, 14 May 2026Global clean power leaders RWE and Abu Dhabi Future Energy Company PJSC – Masdar welcome the decision made by Lord Whitehead on behalf of the UK Energy Secretary's legal authority to approve the Development Consent Order for the two Dogger Bank South (DBS) offshore wind farms.The proposed wind farms, DBS West and DBS East, are ......read full news

Invest Bank (INB) Reports Strong Q1 2026 Results with 97% Growth in Profit Before Tax

Operating income rises 81% to AED 112 million as the Bank records continued growth across Retail, SME and Wholesale Banking segmentsSharjah, United Arab Emirates, May 13, 2026 – Invest Bank (INB) today announced its financial results for the quarter ended 31 March 2026, delivering strong growth in profitability supported by higher operating income, continued balance sheet expansion and sustained momentum across its core business segments.Profit Before Tax increased by 97% year-on-year to AED 22.4 million, while Profit After Tax rose by 96% to AED 21.8 million. Total operating income increased by 81% to AED 112 million, driven by strong growth in both net interest income and non-interest income.The Bank continued to strengthen its financial position during the quarter, with total assets reaching AED 15 billion, ......read full news

EDGE Group Signs Agreement to Acquire CMD, a Top-Tier Italian Engine Company

The signing of the agreement for the acquisition of Southern Italy-based CMD will give EDGE direct access to over 35 years of piston engine manufacturing excellence, laying the foundation for a high-quality engine production base in Europe The deal represents EDGE Group’s landmark European expansion and strengthening of its global propulsion capabilitiesAbu Dhabi, UAE / Atella, Italy – 14 May 2026 – EDGE Group today announced the signing of an agreement to acquire a controlling stake in Costruzio ni Motori Diesel S.p.A. — CMD — a leading Italian company specialised in the design, prototyping, and development of advanced propulsion systems for automotive, marine, and aeronautical applications. The signing ceremony took place at the CMD plant in Atella, in the Basilicata region of Southern ......read full news

Space42 Reports Strong Q1 2026 Results

Rising revenue and solid margins underpin strong Q1 2026 performance Space Services revenue surges by 15% Strategic execution lays foundation for long-term, sustainable growthAbu Dhabi, UAE, May 14, 2026: Space42, the UAE based AI powered SpaceTech company with global reach, today announced its consolidated financial results for the three months ended March 31, 2026. The Company’s shares are listed on the Abu Dhabi Securities Exchange under the symbol SPACE42 (ISIN: AEE01122B228).In Q1 2026, Space42 delivered a robust financial performance, recording an increase in revenue and maintaining the momentum of the final quarter of 2025. It continued to execute across its four core strategic pillars while exercising rigorous control of its cost base, ensuring strong levels of profitability and margin.The Group ......read full news

Zoho Global Study Reveals Zero Trust Maturity, Strong Cybersecurity Resilience Commitment Among UAE Enterprises

Dubai, United Arab Emirates- 13 May, 2026: Zoho Corp., a leading global technology company, launched a report today revealing that while businesses in the UAE face frequent cyberattacks, 96 per cent of the respondents cited having the necessary tools to respond to cyber threats, leveraging capabilities such as real-time threat detection and endpoint security measures. UAE also has high Zero Trust adoption as well as commitment to strengthen cybersecurity measures, as per the report. However, there remains a need for stronger identity security as the nation advances its digital ecosystem and artificial intelligence adoption.According to Zoho’s State of Workplace Password Security 2026 global report – businesses across the wider Middle East and Africa (MEA) region have reported the highest rate of cyberattacks globally, in ......read full news

Trina Storage Recognized as BloombergNEF Tier 1 Energy Storage Supplier for Tenth Consecutive Quarter in Q2 2026

Trina Storage, a global energy storage solution provider, has once again been named a BloombergNEF (BNEF) Tier 1 Energy Storage Supplier for Q2 2026, marking its tenth consecutive quarter on the prestigious global ranking since BNEF first introduced its Energy Storage Tier 1 list in Q1 2024.Widely regarded as one of the most influential benchmarks in the global energy storage industry, the BNEF Tier 1 ranking serves as an important reference for project developers, financiers, and procurement decision-makers worldwide. The evaluation criteria extend beyond product performance and safety, placing strong emphasis on bankability, proven project execution, long-term operational reliability, and successful deployment across multiple international markets.Trina Storage’s continued inclusion reflects its strong technical ......read full news

ENOC Group honours employee excellence at the 2026 edition of the annual ENOC Awards

To Tweet this news, copy-paste the following: #ENOC Group to celebrate employee excellence on May 12 at the 2026 edition of the annual ENOC AwardsDubai, UAE; 13 May 2026: ENOC Group, a leading integrated global energy player, honoured and celebrated the outstanding contributions and dedication of its employees during the annual 2026 ENOC Awards ceremony, held on Tuesday, May 12.The prestigious event, hosted at the Al Ras Ballroom, InterContinental Dubai Festival City, recognised 456 employees for their role in enhancing ENOC Group’s competitiveness as an industry-leading national energy company. The annual awards reflect ENOC’s continued commitment to fostering a culture of excellence, innovation, and continuous improvement across the Group.‘’ENOC Awards ceremony reflects our deep appreciation for our ......read full news

ADNOC Distribution delivers 21% net profit growth in Q1 2026, reflecting strength and resilience

The Company generated its highest ever Q1 EBITDA of $307 million (+11.7% YoY) and net profit of $210 million (+20.7% YoY) Fuel volumes reached a Q1 record of 3.82 billion liters (+2.4% YoY) Non-fuel retail gross profit increased 10% YoY, driven by higher customer footfall, enhanced property management, and convenience store offerings The Company added 22 service stations in Q1 and is on track to hit its target of 60-70 new stations in 2026 Board of Directors approved ADNOC Distribution's first quarterly dividend (5.14 fils per share) to be paid in June 2026Abu Dhabi, UAE – May 13, 2026: ADNOC Distribution (ISIN: AEA006101017) (ADX: ADNOCDIST), the leading mobility and convenience retailer in the UAE, reported strong financial and operational performance in the first quarter ended 31 March 2026, with record Q1 ......read full news

Amlak Finance announces its Q1 2026 financial results

Amlak group reported a net profit after income tax of AED 52 million for Q1 2026, reflecting a quarter-on-quarter growth of 86%. Total assets stand at AED 3.46 billion.Dubai, United Arab Emirates: May 12, 2026: Amlak Finance PJSC announced its quarterly financial results for the period ended 31 March 2026. The Company maintained its focus on the prudent management of its UAE operations and overall balance sheet.During the period, Amlak reported a net profit after income tax of AED 52 million, compared to AED 28 million in the corresponding period of 2025, representing a quarter-on-quarter growth of 86%.Amlak's total revenue for Q1 2026 increased by 8% to AED 65 million, compared to AED 60 million in the corresponding period of 2025. Revenue from financing and investing activities increased to AED 30 million from ......read full news

Hotpack honoured at ‘Make it in the Emirates 2026' summit for outstanding contributions to UAE's industrial growth

Recognition at the UAE’s flagship industrial summit highlights Hotpack’s three-decade contribution to sustainable manufacturing, innovation, and the nation’s industrial growth journey.Dubai, UAE – May 12, 2026: Hotpack, a UAE-headquartered global leader in sustainable packaging solutions, has been recognised as part of the UAE’s industrial development timeline at the recently concluded ‘Make it in the Emirates 2026’ summit in Abu Dhabi. As part of the recognition, the summit featured Hotpack within the House of Industries showcase, highlighting the company’s outstanding contributions to the UAE’s industrial growth over the past 30 years.The ‘Make it in the Emirates 2026’, organised under the UAE’s industrial strategy “Operation 300Bn”, led by the ......read full news

EDGE and ADNOC Partner to Advance Strategic Capability Development

Abu Dhabi, UAE: 12 May 2026 – EDGE and ADNOC have signed a Memorandum of Understanding (MoU) under which EDGE will deliver capability development training to ADNOC employees through BRIDGE's advanced training and support programmes.BRIDGE, the Group’s strategic enabler for advancing technologies from development to production, industrialisation and operational excellence, has successfully trained more than 450 ADNOC employees under a previous contract, equipping them with practical AI knowledge, leadership skills, and tools to support data-driven decision-making and digital transformation.Under this agreement, BRIDGE will support ADNOC's AI initiatives across human capital and technology integration through tailored programmes covering: leadership development; diversity and inclusion; upskilling and advanced ......read full news

e& money supports UAE businesses and employees with a smarter salary solution

All salary processing fees waived to help employers reduce costs Employees receive free IBAN account, card, and access to financial services with benefits of up to AED 400 annuallyDubai, 12 May 2026 –– As businesses across the UAE continue to focus on efficiency while supporting their workforce, e& money, part of e&’s fintech portfolio, has introduced a new salary solution designed to simplify payroll, reduce costs, and enhance the financial experience for employees.Built as a fully digital, end-to-end ecosystem, the solution brings together WPS (Wage Protection System) compliance, salary processing, a Universal Account with IBAN access, and employee benefits into one seamless platform, aligned with national priorities around financial inclusion and the UAE’s “We the UAE 2031” ......read full news

The DFSA prohibits reinsurance broker Mr Mohsen and fines him USD 139,722 for misleading and deceptive conduct

Dubai, United Arab Emirates, 12 May 2026: The Dubai Financial Services Authority (DFSA), the independent banking, financial services, and markets regulator of Dubai International Financial Centre (DIFC) has imposed a fine of USD 139,722 (AED 513,129) on Mr Wael Abdelmohsen Abdellatif Mohamed Emara (Mr Mohsen) for misleading and deceptive conduct. The fine was reduced from USD 285,149 (AED 1,047,209) as Mr Mohsen agreed to settle with the DFSA, and after the DFSA considered Mr mohsen’s request for a reduction of the fine on the grounds of financial hardship.In addition to the financial penalty, the DFSA has: prohibited Mr Mohsen from holding office or being an employee of a DFSA Authorised Firm; and restricted him from performing any function in connection with the provision of financial services in or from Dubai ......read full news

Solutions+ and Inception partner to scale enterprise AI implementation across the GCC

Abu Dhabi, 11 May: Solutions+, a Mubadala company and a leading UAE business consultancy offering digital solutions and shared services, has entered a strategic partnership with Inception, a G42 company, to accelerate the implementation of enterprise AI solutions across the Mubadala Investment Company 'Mubadala' Group and the wider GCC market. Announced at Make it in the Emirates 2026, the partnership focuses on helping organizations move beyond pilot use cases to fully integrated, operational AI systems that deliver measurable business impact.The partnership agreement was signed by Nasir Al Nabhani, Managing Director of Solutions+, and Ashish Koshy, CEO of Inception. The partnership supports the UAE's broader ambition to embed advanced technologies into core industries and scale national capabilities in AI-driven ......read full news

KIB launches Visa+ to enable receiving international transfers via mobile number

Kuwait, 11 May 2026: Kuwait International Bank (KIB), in collaboration with Visa, announced the launch of Visa+, a new service that enables customers to receive international transfers seamlessly using only their mobile number, without the need to share complex banking details.This service, the first of its kind in Kuwait’s banking sector, allows KIB customers to link their registered mobile number to the card of their choice through the KIB Mobile application, making it easier and more secure to receive funds from abroad.Launched for retail customers, the service responds to growing demand for fast, convenient, and secure financial solutions. By integrating Visa+ into its digital ecosystem, KIB simplifies the process of receiving cross-border transfers, eliminating traditional barriers associated with lengthy banking ......read full news

KIB sponsors Kuwait's participation in 4th GCC Games Doha 2026

Kuwait, 10 May 2026: Kuwait International Bank (KIB) has announced a strategic partnership with the Kuwait Olympic Committee to sponsor the State of Kuwait’s participation in the 4th GCC Games in Doha, Qatar, scheduled to take place from May 11 to 22, 2026. This initiative reflects the Bank’s commitment to supporting the sports sector and strengthening Kuwait’s presence at regional events.This partnership falls within KIB’s vision to invest in national talent, particularly youth, by empowering them to represent the State of Kuwait on prominent competitive platforms. It aims to support their development and refine their skills within a professional environment aligned with modern sporting standards.Through this sponsorship, the Bank affirms that its support for national sports is part of its corporate ......read full news

Dukhan Bank Announces May Winners in Thara'a Savings Account Prize Draw

Doha, Qatar – 9 May 2026 – Dukhan Bank announced the names of the most recent round of draw winners for Thara’a, its Shariah compliant savings account, at the Bank’s headquarters. The draw was conducted on 4 May 2026, under the supervision of a representative of the qualitative license and market control department at the Ministry of Commerce and Industry.In this month’s draw, Talal Al-Obaidly and Rami AbuSalah each won the top prize of QAR 20,000, while the following winners each received QAR 5,000: Dsilva Dsilva, Ahmed AlHawaj, Andrea Bonfim, Shaikh Ahmed, Ali AlKuwari, Miguel Perez, Saeed Al-Jassim, Jassim Al-Romaihi, Nasser Al-Tamimi, Omer Arslan, Hissa Murad, Ismahine Aissi, Khalid Al-Tamimi, Ruba Abdulaziz, Bakhita Al-Abdulla, Abdulaziz Al-Hammadi, Mashael Al-Ibrahim, Fai Chan, Abdulla Al-Qahtani, ......read full news

Carnegie Mellon Qatar celebrates Class of 2026

DOHA, QATAR – May 9, 2026 — Carnegie Mellon University in Qatar (CMU-Q), a Qatar Foundation partner university, celebrated the graduation of the Class of 2026 in a ceremony held at Katara Hall in Raffles Hotel Doha.Michael Trick, dean of CMU-Q, opened the ceremony with a message reflecting on the class's shared journey and resilience. 'Class of 2026, you are an extraordinary and resilient group of students. Twice in your academic careers, world events disrupted your path, and twice you found focus in times of uncertainty and purpose in moments of anxiety. I know I speak for every faculty member at CMU-Q when I say we are very proud of you.'Addressing the graduates on behalf of the global Carnegie Mellon community, CMU President Farnam Jahanian praised their steadfastness. 'Amid uncertainty and ......read full news

ICD Signs 21 Agreements with Azerbaijan to Support Private Sector

Jeddah, May 8, 2026, SPA -- The Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank (IsDB) Group, signed on Thursday 21 agreements with Azerbaijan involving several financial institutions and commercial banks, as part of its cooperation with the private sector. The agreements were concluded on the sidelines of the private sector forum held in Baku.The corporation stated that Europe, Central Asia, and Azerbaijan represent the largest share of its financing portfolio, with a significant portion of operations focused on trade finance.It emphasized that its activities are centered on achieving measurable results, with objectives defined prior to project implementation, continuous monitoring of impact throughout execution, and final evaluation upon completion.The ......read full news

UAE honors 20 companies and individuals for driving billions back into the national economy

Organizations and individuals recognized at Make it in the Emirates for their contributions to the local content agenda.Abu Dhabi, UAE. 6 May 2026: The Ministry of Industry and Advanced Technology (MoIAT) honored 20 companies and individuals at Make it in the Emirates 2026 on Tuesday for their contributions to the UAE's In-Country Value (ICV) Program — an initiative that has redirected AED 473 billion into the national economy to date.The ceremony, held as part of National ICV Day on the second day of Make it in the Emirates, was attended by His Excellency Hasan Jasem Al Nowais, Undersecretary of MoIAT, alongside senior officials from government and industry.HE Al Nowais said the awards reflect the growing impact of public-private collaboration.'The ICV Program is a key driver in ......read full news

Apis Partners Announces Final Close of $1.23 Billion Fund III, Double its Predecessor

Fund III closes 23% above target, more than double Fund II Around 50% of capital raised from existing LPs increasing commitments Fund III to invest in tech-enabled financial infrastructure and services companies across Europe and growth marketsDubai, 7 May 2026 – Apis Partners Group (UK) Limited ('Apis'), a private equity firm investing in tech-enabled businesses in financial infrastructure and services, today announced the final close of Apis Global Growth Fund III and Apis Growth Markets Fund III (the 'Funds' or 'Fund III'), with combined commitments of $1.23 billion excluding co-investments, more than double its predecessor, Apis Growth Fund II, at $563 million.The Funds closed 23% above target. Reflecting the strong performance of previous funds, which have already ......read full news

Saudi Stock Exchange Ends Trading Lower

Riyadh, May 06, 2026, SPA -- The Saudi Stock Exchange main index ended trading lower today, losing 57.70 points to close at 10,949.27 points. The total value of trading reached SAR6.7 billion, with 320 million shares traded.The Saudi Parallel Market Index (NOMU) ended higher, gaining 85.64 points to close at 22,811.84 points. Trading value on NOMU reached SAR19 million, with 2.8 million shares traded.

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EDGE Awards AED 200 Million Contract to Abu Dhabi Cable Harness Manufacturer ECCI

EDGE entity HALCON has awarded an AED 200 million contract to Abu Dhabi-based ECCI for the manufacturing and supply of mission-critical subsystems The contract forms part of a larger drive from EDGE to integrate and rapidly grow the advanced capabilities of the UAE's manufacturing industryAbu Dhabi, UAE: 6 May 2026 – EDGE, one of the world's leading advanced technology and defence groups, through its smart weapon systems producer, HALCON, has awarded a contract to Emirates Cable Corporation Interconnect (ECCI), an Abu Dhabi-based manufacturing company specialising in the design and production of world-class cable and tactical harness solutions, to manufacture and supply high-technology cable harness assemblies. The contract to provide mission-critical subsystems that enable power distribution, signal ......read full news

KIB appoints Abdulrahman Alsaddah as General Manager of Risk Management

Kuwait, 6 May 2026: Kuwait International Bank (KIB) announced the appointment of Abdulrahman Alsaddah as General Manager of Risk Management, in a move that reflects the Bank’s ongoing commitment to enhancing its capabilities and supporting national talent to assume leadership positions.Alsaddah brings over 23 years of experience in the banking sector, including around 15 years in corporate banking, equipping him with strong expertise in risk management and business development.Prior to joining KIB, Alsaddah served as Chief Risk Officer at Gulf Bank since January 2025, after holding the role in an acting capacity for two years. He began his career at the bank in 2003 at the Customer Service Center, before moving to the Corporate Banking Group in 2006. He was later appointed Deputy General Manager of Risk Management in 2020, ......read full news

Ooredoo Kuwait Marks Labour Day by Putting People First & Empowering Talent

Omar Al-Bassam: Investing in human capital is the foundation of excellence and leadership Eisa Al-Beshaier: We remain committed to developing national talent to shape the future of telecommunications in KuwaitKuwait -6th May 2026- As the world celebrates Labour Day, Ooredoo Kuwait, the leading telecom and technology provider, is highlighting a workplace culture that places employees at the centre of its priorities, reaffirming its belief that true investment begins with people, national talent, and the human potential capable of driving progress.During the exceptional circumstances recently witnessed across the region, Ooredoo Kuwait’s teams at headquarters, branches, and service centres continued to perform at a high level, ensuring uninterrupted services and meeting customer needs. Their efforts reflected a strong ......read full news

Lg electronics releases first-quarter 2026 financial results

Strong Performance in Home Appliance and Vehicle Solutions DrivesQuarterly Revenue Beyond USD 16.24 Billion for First TimeNews Summary LG Electronics achieved consolidated revenue of USD 16.24 billion and operating profit of USD 1.14 billion in first-quarter 2026. Combined revenue from LG's home appliance and vehicle solutions businesses surpassed USD 6.84 billion for the first time*. The vehicle solutions business was a standout performer, achieving all-time highs in quarterly revenue and operating profit and firmly establishing itself as a reliable B2B profit center for the company. At the same time, the home appliance business continued to reinforce its position as the company's flagship B2C cash cow, providing stable and recurring earnings. LG's B2B business accounted for 36 percent of total revenue, and ......read full news

Makkah Chamber Organizes 'Seasonal Work Skills' Workshop to Enhance Services for Pilgrims

Makkah, May 05, 2026, SPA -- The Makkah Chamber of Commerce organized a workshop today titled 'Seasonal Work Skills,' aimed at developing the capabilities of workers in Hajj-related sectors and enhancing their professional readiness to serve pilgrims efficiently and professionally.=The workshop covered several key topics, including the nature of seasonal work, time management mechanisms, and understanding human behavior, as well as best practices for interacting with pilgrims, contributing to improving their overall experience.This initiative forms part of the chamber's efforts to support private sector establishments and workforce development, enabling them to play an effective role in serving pilgrims, in line with the objectives of Saudi Vision 2030 to enhance the quality of services provided to Hajj and Umrah ......read full news

Abu Dhabi Family Business Council Signs MoU with First Abu Dhabi Bank

The MoU advances sustainability while delivering innovative banking and financing solutions for family businessesAbu Dhabi, United Arab Emirates: 05 May 2026 – As part of ongoing efforts to strengthen the economic environment for family businesses in the Emirate of Abu Dhabi, the Abu Dhabi Family Business Council (ADFBC) and First Abu Dhabi Bank (FAB) signed a Memorandum of Understanding (MoU) aimed at supporting the growth and sustainability of family businesses and enhancing cooperation between the two parties in a manner that contributes to sustainable economic development..The MoU was signed by H.E. Masood Al Masood, Vice Chairman of the Abu Dhabi Family Business Council, and Martin Tricaud, Group Head of Wholesale Banking- First Abu Dhabi Bank (FAB)The MoU also aims to establish a joint framework between the ......read full news

EtihadWE Development and Investment Arm Signs EPC Agreement with NMDC Infra and Lantania for Fujairah I IWP 60 MIGD Desalination Plant

Abu Dhabi, UAE – 05 May 2026: The development and investment arm of Etihad Water and Electricity (EtihadWE) has signed an Engineering, Procurement and Construction (EPC) agreement with NMDC Infra and Lantania Aguas for the Fujairah I Independent Water Producer (IWP) project, a 60 million imperial gallons per day (MIGD) seawater reverse osmosis (SWRO) desalination plant, with a total investment value of AED 1.046 billion.The signing ceremony was held at the Make It In the Emirates exhibition.The agreement was signed by Eng. Mohammed Al Shehhi, Chief Executive Officer of the development and investment arm; Haris Giatsos, Chief Executive Officer of NMDC Infra; and Pedro Almagro, Chief Executive Officer of Lantania Aguas. It was witnessed by Eng. Yousif Ahmed Al Ali, Chief Executive Officer of EtihadWE and Chairman of the ......read full news

UAE GSU shortlisted for three Reuters Energy Industry Awards 2026

Abu Dhabi, May 4, 2026 — Abu Dhabi-based GSU, a Resources Investment company, with a growing renewable energy portfolio across Africa and Central Asia, (GSU) has been shortlisted in three categories at the prestigious Reuters Events: Energy Industry Awards 2026, recognizing its growing impact across clean energy and infrastructure in emerging markets.

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Hira Industries strengthens industrial presence in Ras Al Khaimah with 7,450 m² new production facility, generating 100+ jobs

Ras Al Khaimah, 04 May 2026: Hira Industries, a global manufacturer and supplier serving the construction sector since 1980, has expanded its operations at Ras Al Khaimah Economic Zone (RAKEZ) with the addition of a new factory and warehouse facility at Al Ghail Industrial Zone.Spanning approximately 7,450 m2, the new facility will support the increased production of thermal and acoustic insulation solutions under Hira’s Aerofoam and Aerosound divisions, adding a total production capacity of over 500,000 m2 per month. The expansion is also expected to create more than 100 jobs, reflecting Hira Industries’ continued contribution to Ras Al Khaimah’s industrial sector.Hira Industries Operations Director – Middle East & Africa, Umesh Unni, said, “Our expansion in Ras Al Khaimah reflects sustained ......read full news

Mazaya partners with Al Ansari Exchange to Expand Member Benefits, Strengthening Financial Accessibility to Members

Abu Dhabi, UAE - 04 May 2026: Mazaya, the membership programme managed by Nirvana Travel & Tourism, has announced the signing of a Memorandum of Understanding (MoU) with Al Ansari Exchange, the UAE’s leading outward personal remittance and foreign exchange company, to provide exclusive financial benefits to Mazaya members across the country.Through this partnership, Mazaya members will benefit from a 50% discount on prepaid cards, enhancing the programme’s everyday value and expanding its offerings into essential financial services. The collaboration reflects a shared commitment to delivering structured, high-impact solutions that strengthen financial accessibility and reinforce the integration of essential services within the Mazaya ecosystem.By extending its benefits into the financial services sector, ......read full news

Bahri reports first quarter 2026 results with net profit of sar 2.15 billion

Q1 2026 revenue of SAR 4.96 billion (+129% YoY), driven mainly by higher freight rates, supported by a larger fleet and increased charter activity to meet customer requirements. Q1 2026 EBITDA of SAR 2.84 billion (+137% YoY) and net profit of SAR 2.15 billion (+303% YoY), with growth led by Bahri's crude oil transportation business. Bahri exercised prudent stewardship and maintained crew and vessel safety amid disruption and conflict in the Arabian Gulf, with all vessels commercially deployed.Riyadh, Kingdom of Saudi Arabia – 30 April 2026: The National Shipping Company of Saudi Arabia ('Bahri' or the 'Company', 4030 on the Saudi Exchange), the Kingdom's leading shipping and logistics provider, announced its financial results for the first quarter of 2026, reporting revenue and net ......read full news

QIC reports 6% growth in Net Profit to QAR 217 million in Q1 2026

Q1 2026 highlights QIC delivered stable financial results despite a turbulent first quarter marked by geopolitical tensions and the conflict in the Middle East. Gross Written Premiums (GWP) totalled QAR 3.2 billion, up by 13% year-on-year. QIC reports an Insurance Service Result of QAR 130 million, a significant increase of 70% year-on-year. Net profit reached QAR 217 million, up by 6% year-on-year. Investment Income amounted to QAR 238 million, a 10% year-on-year increase.Doha, 03 May 2026 - Qatar Insurance (QIC) the leading insurer in Qatar and the Middle East and North Africa (MENA) region, today reported a Net Profit of QAR 217 million for the first quarter of 2026, a change of 6% from QAR 205 million for the same period in 2025. Following a meeting of the Board of Directors dated 30 April 2026, which was presided ......read full news

Arab Bank Group Profits Grow to $ 276 Million for the First Quarter of 2026

Arab Bank Group reported solid results for the first quarter of 2026, with 2% increase in net income after tax reaching $ 275.8 million as compared to $ 271 million for the same period last year. The Group maintained its strong capital base with a total equity of $ 13.1 billion.Compared to the same period last year, the Group's Assets grew by 9% to reach $ 79 billion, loans grew by 7% to reach $ 41.9 billion, and deposits grew by 8% to reach $ 57.5 billion.Commenting on the results, Mr. Sabih Masri, Chairman of the Board of Directors, stated that Arab Bank delivered a solid performance in the first quarter of 2026, despite ongoing global and regional tensions and their impact on energy markets and global supply chains. He emphasized that these results reflect the strength of the bank's well-diversified and resilient ......read full news

'Invest Saudi' Concludes Participation in SusHi Tech Tokyo 2026

Tokyo, April 30, 2026, SPA -- Saudi Arabia concluded its participation in the SusHi Tech Tokyo 2026 innovation and technology exhibition, held from April 27 to 29, in the presence of Saudi Ambassador to Japan Dr. Ghazi Binzagr. The participation highlighted the strength of the strategic partnership between the two countries and the Kingdom's growing position as a global hub for innovation and entrepreneurship.The exhibition featured several activities and sessions, including a strategic workshop held in partnership with the Tokyo Metropolitan Government on positioning Saudi Arabia as a global destination for entrepreneurship. The workshop showcased regulatory reforms, national policies, and strategic investments supporting Saudi Vision 2030 and attracting global capital. It drew significant interest from Japanese investors and ......read full news

CFI Secures Brazil Central Bank License, Advancing Latin America Expansion

Dubai, United Arab Emirates – 30 April 2026: CFI Financial Group, a globally recognized leader in online trading services, today announced that it has received regulatory authorization from the Banco Central do Brasil to operate as a securities brokerage firm (Corretora de Títulos e Valores Mobiliários) in Brazil.This milestone marks the Group’s entry into one of Latin America’s most prominent financial markets, reinforcing its strategy of expanding through regulated, locally established operations in key global markets. The new license enables CFI to function as a fully licensed, locally regulated brokerage firm, providing access to a diverse suite of instruments, including equities and fixed-income securities, in line with local requirements.“Brazil represents an important pillar in our global ......read full news

Stellantis Reports Q1 2026 Financial Results

Return to ProfitabilityYear-over-Year Improvement Across All Key Financial Metrics Net revenues increased to €38.1 billion, up 6% versus Q1 2025, supported by volume growth across all regions, with North America the primary contributor Net profit improved to €0.4 billion reflecting higher volumes and stronger operating performance Adjusted operating income(1) reached €1.0 billion, with AOI margin(2) of 2.5% and most regions positive Industrial free cash flows(3) were negative €1.9 billion, reflecting typical first-quarter seasonality, and representing a 37% improvement versus Q1 2025, despite approximately €0.7 billion of cash outflows related to H2 2025 charges Industrial available liquidity(4) ended at €44.1 billion, ......read full news

H.H. Sheikh Ammar bin Humaid Al Nuaimi chairs Ajman Bank Board meeting; profit before tax of AED 134 million in the first quarter

Total revenue up 22% to AED 443 millionAjman, United Arab Emirates – 29 April 2026. Ajman Bank PJSC reported a strong first quarter on Wednesday, posting net profit before tax of AED 134 million and net profit after tax of AED 130 million, as total revenue rose 22% year-on-year to AED 443 million, reflecting growth across the Bank’s core financing, treasury and fee-generating businesses.Net revenue increased 12% to AED 222 million, while non-funded income reached AED 63 million – equivalent to 28% of net revenue – pointing to continued progress in the Bank’s effort to build a more diversified income base beyond financing margin, resulting.H.H. Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, Chairman of the Executive Council and Chairman of Ajman Bank, said the results reflected the ......read full news

National Bank of Fujairah PJSC (NBF) – Q1 2026 Results NBF posted its best quarterly net profit after tax of AED 342.3 million, up 11.6% vs Q1 2025

NBF's robust liquidity and capital adequacy and effective asset and liability management positions it well to navigate the uncertain operating environment with confidence29 April 2026: NBF is pleased to announce its results today for the three-month period ended 31 March 2026.Highlights: NBF recorded year-on-year growth of 11.6% to close the three-month period at a record net profit before tax of AED 376.2 million compared to AED 337.2 million in the corresponding period of 2025. Further, NBF posted its best ever net profit after tax for a quarter, amounting to AED 342.3 million, compared to AED 306.8 million in the corresponding period of 2025 with a corporate tax charge of AED 33.9 million. This was driven by a high level of resilience in the bank's core business and enhanced ......read full news