INSEAD Day 4 - 728x90

Samsung biggest chip investor

The tech giant invested nearly $59.2bn in 2025.

flynas to set up new hub

Five destinations in first phase of operations.

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.

China maintains basic balance in international payments in 2023

Beijing, China--China maintained a basic balance in its international payments last year, with its current account surplus amounting to US$264.2...

Economy

GCC and Sweden look to ramp up cooperation in ‘several areas’

Munich, Germany-- The Gulf Cooperation Council (GCC) and Sweden have discussed ways to ramp up cooperation in several areas, besides...

Geostrategy
Business

GMG buys out Aswaaq LLC

It will add 22 supermarkets to GMG's retail network in the UAE.
  • Last April, GMG acquired Géant operations in the UAE from Urban Foods by Dubai Holding, adding 18 hypermarket and supermarket outlets to its retail footprint
  • The company has introduced over 120 brands and has announced plans to double its global workforce by 2025
Science

Environment Agency – Abu Dhabi issues marine water quality policy

ABU DHABI,  UAE - The Environment Agency - Abu Dhabi (EAD) has issued a policy on sustaining marine water quality...
  • The policy is part of EAD's efforts to maintain and sustain Abu Dhabi's marine waters and limit practices that can cause marine pollution.
  • The policy aims to develop relevant legislative and regulatory frameworks and halt discharges that may have adverse impacts on the marine environment
Business

Burjeel signs MoU with Leejam

The two will run wellness centres in Saudi Arabia.
  • The two will operate a network of more than 60 physiotherapy, rehabilitation and wellness centres in Leejam clubs across the kingdom
  • The joint venture is supported by the Saudi ministry of sport, as it continues to promote initiatives aimed at improving and developing the sports environment in the kingdom
Geostrategy

Qatar pledges to support Afghan people in search for rights

Kabul, Afghanistan-- Qatar has renewed its pledge to Afghanistan to help the war-ravaged country in fields of education, development, politics,...
  • The visiting dignitary met with Minister of Foreign Affairs Amir Khan Muttaqi, Minister of Interior Sirajuddin Haqqani, Minister of Education Habibullah Agha
  • The envoy reiterated Qatar's position supporting all segments of the Afghan people to obtain all their rights, particularly the right to education, especially for girls
Business

Qatar receives more than 600,000 visitors in December

Doha, Qatar-- Qatar has received more than 614,000 visitors during the month of December 2022, a monthly increase of 3.7...
  • The highest number of visitors were from the Gulf Cooperation Council at 40 percent
  • The total deposits and credit facilities of commercial banks rose at a monthly rate of 4.3 percent and 2.7 percent
Business

Jordanians look to replace gas-guzzling cars with electric versions

Amman, Jordan--Jordanians are increasingly adopting electric cars in a push towards abandoning the fuel-guzzling cars that have become so hard...
  • Head of the Jordan Free Zones Investors Association, Mohammad Bastanji, said that the local market is witnessing a growing demand for electric vehicles
  • President of the National Society for Consumer Protection Mohammad Obeidat stressed the importance of "keeping up with the times" and owning an eco-friendly electric car
Science

DEWA begins receiving research papers for MENA Solar Conference

Dubai, UAE--Dubai Electricity and Water Authority (DEWA) has started receiving requests from researchers and scientists to submit their research papers...
  • Saeed Mohammed Al Tayer, MD and CEO of DEWA, said that the conference is the first scientific and technical conference of its kind in the region
  • He said the conference will be held in conjunction with the Water, Energy, Technology, and Environment Exhibition (WETEX) and the Dubai Solar Show (DSS) 2023
Economy

Dubai Marathon to be held on February 12 at Expo City

Dubai, UAE-- The 2023 edition of Dubai Marathon will be held at Expo City Dubai on 12th February, 2023, according...
  • The committee organizing the event said the city was chosen as the venue of the marathon because it represents Dubai’s vision of serving as a bridge between cultures
  • It will bring together elite athletes from around the world after a break of two years due to the pandemic
Economy

UAE, Saudi, Bahrain up rates after Fed’s hike; Qatar keeps status quo

Hours after the US Federal Reserve upped its target interest rate by a quarter of a percentage point, many central...
  • The UAE central bank has decided to raise the base rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points
  • The US central bank said in a statement that Inflation has eased somewhat but remains elevated
Geostrategy

King Abdullah of Jordan and US President Joe Biden to hold talks

Washington, US-- Jordan’s King Abdullah and US President Joe Biden will hold talks at the White House on Thursday, as...
  • Talks between the two leaders will cover means to bolster the strategic partnership between Jordan and the United States through expanding cooperation across various sectors
  • The king is in Washington and met with US House of Representatives Speaker Kevin McCarthy at the Capitol earlier on Tuesday

China maintains basic balance in international payments in 2023

Beijing, China--China maintained a basic balance in its international payments last year, with its current account surplus amounting to US$264.2...
Economy

Company News

Latest News

AD Ports net profit up

It posted a 189% jump in revenue in Q3 to US$1.15bn.
Business

Google warns against downloading its AI model from external sources

Washington, US--Google has warned users against trying to obtain its Cold generative artificial intelligence (AI) model from external sources currently...
Business

UAE non-oil activities to continue to see robust growth in 2024: OPEC

Vienna, Austria--The UAE's non-oil economic activities continued to see robust performance and are expected to extend healthy development into 2024,...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

Egypt annual core inflation falls 1.6 percent in October

Dubai, UAE--Egypt's annual core inflation rate decelerated by 1.6 percent in October, recording 38.1 percent, down from 39.7 percent in...
  • According to the country's central bank, the annual headline urban consumer inflation rate reached 35.8% in October, down from 38% in September
  • Last week, the government also announced increases in petrol prices of up to 14.3% amid higher global prices and a weakened exchange rate
Economy

GCC keen to strengthen economic cooperation with Turkey: Albudaiwi

Istanbul, Turkey-- The Gulf Cooperation Council (GCC) is keen to enhance economic cooperation with Turkey, according to its Secretary General...
  • Albudaiwi said the GCC Ministerial Council has restarted the strategic dialogue with Turkey and adopted the Joint-Action Plan 2023-2027
  • He made the remarks at the GCC-Turkish Economic Forum in Istanbul with top officials and business owners from both sides in attendance
Geostrategy

Turkey halts joint-energy projects with Israel over Gaza war

Dubai, UAE-- Turkey has suspended joint-energy projects with Israel over the latter's invasion and bombardment of the Gaza Strip, according...
  • The Turkish energy minister said that it would be "inappropriate" to talk about the implementation of projects with Israel under such conditions
  • Israel has blocked access to water, food, and electricity in Gaza, plunging the coastal area into a humanitarian crisis as the death toll crosses 11,000