INSEAD Day 4 - 728x90

Bank of Sharjah profit up 39%

Bank's total assets grow 10% to $14.4 billion.

DIB H1 net profit $1bn

Gross revenue increased 10% year on year

SIB H1 profit up 15.3%

Total operating income rises 20.5 percent.

flydubai Aleppo flights resumed

The flights were resumed after nearly 14 years.

Samsung biggest chip investor

The tech giant invested nearly $59.2bn in 2025.

UAE ranks among the world’s most competitive economies in 2024, says Switzerland’s IMD ranking

The country has risen to the 7th spot in the IMD World Competitiveness Ranking, highlighting its robust economic growth, strategic...

Economy

SAMA Licenses ‘Hala Financing’ to provide crowdfunding solutions

Riyadh, Saudi Arabia - The Saudi Central Bank (SAMA) has licensed "Hala Financing" to provide debt-based crowdfunding solutions. With Hala...

Business

Microsoft vows app store fairness

The company is courting favor of antitrust regulators
  • Microsoft president Brad Smith laid out a set of "Open App Store Principles" that will apply to the store it runs for Windows-powered computers
  • Microsoft's $69 billion deal to buy video game powerhouse Activision Blizzard needs to pass muster with regulators in Europe and the United States
Business

Emirates NBD’s profits jump 34%

Dubai's largest bank sees its net profits rising to $2.5 billion in 2021 from $1.9 billion in 2020.
  • The bank, the second largest lender in the United Arab Emirates, said its net profits rose 34 percent to $2.5 billion, from $1.9 billion in 2020. 
  • The bank has set aside $1.6 billion in impairments, covering loan losses, a 26-percent decrease from last year, due to improving economic conditions
Geostrategy

Tunisia president Saied says freedoms ‘guaranteed’

Saied said he "affirms that freedoms are guaranteed in Tunisia,” recalling his commitment to equality before the law and his...
  • Saied said he "affirms that freedoms are guaranteed in Tunisia,” recalling his commitment to equality before the law and his rejection of violence"
  • Civil society groups have expressed fears of a return to authoritarianism in the only democracy to have emerged from the Arab Spring protests
Business

Facebook antitrust suit

James Boasberg's ruling is a blow to Facebook.
  • The US Federal Trade Commission has alleged the social media giant, which has renamed itself Meta, holds an illegal monopoly
  • The judge rejected Facebook's argument that the case should be dismissed because the commission's decision to amend and refile was fueled by bias
Geostrategy

Saudi Arabia says Hezbollah threat to Arab security

The latest exchange of insults follows a crisis between Lebanon and Gulf Arab states over the war in Yemen.
  • The latest exchange of insults follows a crisis between Lebanon and Gulf Arab states over the war in Yemen
  • Last month, Hezbollah dismissed Riyadh's claims it was aiding attacks by Yemen's Huthi rebels
Business

Dubai’s Emaar group to develop shopping mall in Kashmir

The governments of Dubai and Jammu & Kashmir have signed a memorandum of understanding (MoU) to facilitate investment in the...
  • The governments of Dubai and Jammu & Kashmir have signed a memorandum of understanding (MoU) to facilitate investment in the proposed project
  • Emaar Properties entered the Indian real estate market in 2005 by partnering with India's MGF group and investing Rs 8,500 crore into joint venture Emaar MGF Land
Economy

Libya conference seeks investment in country’s south, the gateway to Africa

The conference was held under the patronage of the Chamber of Commerce, Industry and Agriculture in Obari with Arab and...
  • The conference was held under the patronage of the Chamber of Commerce, Industry and Agriculture in Obari with Arab and international participation
  • The participants sought investments in renewable energies, mining, agriculture, tourism, real estate investment, infrastructure and free zones
Business

Instagram boss faces US lawmakers over impact on kids

Instagram's boss faces a grilling Wednesday from US lawmakers after damning press reports based on leaked internal research showed the...
  • The documents leaked by Facebook whistleblower Frances Haugen include research from 2019 that found Instagram makes body image issues worse for one in three teenage girls
  • Another report, from 2020, revealed that 32 percent of teenage girls said that when they felt bad about their bodies, Instagram made it worse
Economy

Iran non-oil export reaches $27b in 7 months

The deputy minister Mehdi Sadeqi Niaraki argued that production growth is one of the main strategies to develop the Islamic...
  • The country has allocated five billion dollars to remove obstacles in the way of exporting Iran-made products
  • According to statistical reports, 15 out of 25 industrial fields have experienced growth and the home appliances industry has seen an 8 percent growth
Science

NASA launches spacecraft to kick an asteroid off course

The goal is to slightly alter the trajectory of Dimorphos, a "moonlet" around 525 feet wide that circles a much...
  • The goal is to slightly alter the trajectory of Dimorphos, a "moonlet" around 525 feet wide that circles a much larger asteroid called Didymos
  • Impact should take place in the fall of 2022, when the binary asteroid system is 6.8 million miles from Earth, almost the nearest point they ever get

UAE ranks among the world’s most competitive economies in 2024, says Switzerland’s IMD ranking

The country has risen to the 7th spot in the IMD World Competitiveness Ranking, highlighting its robust economic growth, strategic...
Economy

Company News

Latest News

Saudi, Turkey, Egypt among 16 nations viewing climate change as top concern

Riyadh, Saudi Arabia: Around 80% of consumers surveyed across 16 countries now view climate change as the world’s No. 1...
Economy

Sam Altman’s return ushers in new era at OpenAI

The five-day saga began on Friday, when Altman was abruptly sacked by the board for reasons that are still unclear....

Indonesia’s exports to UAE expected to rise by $4bn with CEPA trade pact

Jakarta, Indonesia - The Comprehensive Economic Partnership Agreement (CEPA) is expected to increase Indonesia’s exports to the UAE by around...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

Gaza war: Israel stares at $48 billion in expenses

Dubai, UAE - The ongoing conflict between Israel and Gaza could result in a significant economic toll for Israel, with...
  • The projected cost, although lower than some previous estimations, remains a substantial financial burden
  • The Israeli Ministry of Finance had previously indicated that the war was incurring costs of approximately $270 million per day
Business

ADX lists FAB Green Sakuk

FAB is the United Arab Emirates’ largest bank.
  • FAB is the UAEs’ largest bank and one of the world’s largest banking groups, with total assets of $326.7 billion
  • The $354 million sakuk, is the first ever green issuance in dirham and the largest ever dirham sukuk
Business

Naufar partners with MEEZA 

MEEZA is a Managed IT Service and Solutions provider in Qatar.
  • Naufar aims to overhaul its IT infrastructure by leveraging MEEZA's expertise to migrate to the secure and innovative Azure cloud platform
  • The move is poised to enhance operational efficiency, reinforce data security measures, and elevate patient care services through cutting-edge Microsoft Azure capabilities