INSEAD Day 4 - 728x90

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

Lebanon reformist independents win at least 13 seats

The reformists, who campaigned on the legacy of a 2019 anti-establishment protest movement, could yet obtain the support of several...
  • Twelve of the thirteen reformist candidates are newcomers. They campaigned against Lebanon's ruling elite, composed of sectarian parties that have ruled the country since 1990.
  • At least five out of 19 elected MPs for the capital Beirut are independents, with all but one winning a seat for the first time.

Morocco, Spain reopen borders after two-year closure

The gates opened shortly after 11:00 pm local time (2200 GMT) on Monday night, letting dozens of cars and queues...
  • borders between the two countries were shut due to Covid restrictions and a major diplomatic row
  • Local economies in the border areas of two enclaves depend on the crossing of people and goods

Lebanon vote weakens Hezbollah bloc as reformists book gains

Scuffles and cases of voter intimidation were reported on polling day, although Interior Minister insisted when announcing partial results that...
  • Lebanese Forces Party can emerge as the largest Christian party in Lebanon as it has won several new seats
  • Some polling centers lacked electricity in Lebanon, voters had to use their phone lights to cast their ballots

US Vice President leads large team to meet new UAE leader

US Vice President Kamala Harris on Monday led a high-level delegation to meet the United Arab Emirates' new president, who...
  • Day after the death of former leader Sheikh Khalifa, Mohamed bin Zayed was chosen as UAE's new president
  • Diplomatic relation between US-UAE were further strained when the UAE abstained from condemning Russia over the invasion of Ukraine

Iran arrests academic on national security charges

Iranian police have arrested academic and author Said Madani on charges of acting "against the security" of the country and...
  • "Suspected of having links with foreign countries and of having committed actions against the country's security, Said Madani Ghahfarokhi was sent to prison," Mehr reported
  • Madani has been detained several times in the past, notably in 2012 when he was sentenced to six years in prison

NEOM will be subject to Saudi sovereignty and rules: Report

Saudi Arabia has rejected claims that its planned futuristic megacity known as NEOM will have different rules from the rest...
  • NEOM is part of Crown Prince Mohammed bin Salman's Vision 2030 plan to diversify Saudi Arabia's oil-dependent economy.
  • It has been billed as a futuristic cityscape evocative of a sci-fi blockbuster -- with everything from flying taxis to robot-maids.

McDonald’s to exit Russian market

The company will sell its business in the increasingly isolated country.
  • McDonald's in March closed all of its 850 restaurants in the country, where it employs 62,000 people.
  • The company directly manages more than 80 percent of the restaurants bearing its name in Russia.

Eighth sandstorm since mid-April brings Iraq to a halt

On Monday a thick cloud of dust enveloped the capital Baghdad in an orange glow and blanketed many other cities.
  • Authorities in seven of Iraq's 18 provinces, including Baghdad, ordered government offices to shut.
  • The last one earlier this month led to the death of one person while 5,000 others had to be hospitalized for respiratory problems

Blue-chip shares surge as Wall Street stocks bounces back

Investors remain cautious as to whether China will ease its zero-Covid policy, which has added to the disruption of the...
  • The benchmark Nikkei 225 index firmed 0.45 percent, or 119.40 points, to 26,547.05.
  • The Nikkei firmed especially in early trade, keeping the momentum from gains of US shares.

Kamala Harris leads high-level US team to meet new UAE leader

Harris, whose team includes Secretary of State Antony Blinken, Defense Secretary Lloyd Austin and CIA chief William Burns, is heading...
  • Blinken, who arrived in Abu Dhabi early Monday morning ahead of the delegation, offered his "warm congratulations" to Sheikh Mohamed on becoming president.
  • Relations between UAE and the US were strained when the former abstained from voting on a UN Security Council resolution demanding a Russian withdrawal from Ukraine.

Hamas says discussing Gaza ceasefire proposals from mediators

It said it sought "to reach an agreement that guarantees ending the aggression, achieving the withdrawal (of Israel from Gaza)...

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Swiss central bank posts 2023 loss

The bank has raised its interest rates to tame inflation..

Turkey’s inflation rises to 67.1% in February

On a monthly basis, inflation rose 4.5 percent in February, slower than the 6.7 percent rise logged in January. Erdogan...

SpaceX blasts off to ISS with US, Russia astronauts on board

Just minutes after the launch, as the rocket soared over the Atlantic, it was moving at a speed of 6,000...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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US Vice President calls for ‘immediate ceasefire’ in Gaza

Taking an unusually sharp tone, Harris demanded Israel "do more to significantly increase the flow of aid" into Gaza, where...
  • Kamala Harris's comments on Sunday came as Washington led a push to lock in a truce before Ramadan
  • According to a senior US official, Israel has broadly accepted the terms of proposal to pause the five-month-old war

Tunisians take to streets to protest economic woes

Head of Tunisia's trade union confederation Noureddine Taboubi said in a speech to protestors that the economic and social situation...
  • He said the state's ability to service its foreign debt had been to the detriment of the people
  • The Tunisian sluggish economy posted growth of 0.4% and an unemployment rate of 16.4% in 2023

Gaza truce talks in Cairo as heavy fighting rages

An Israeli siege on Gaza has sparked UN warnings of famine, and France's foreign ministry said Israel is "clearly responsible"...
  • Envoys from the United States, Qatar and Hamas arrived in Cairo, Egyptian state-linked media reported Sunday, the latest effort towards a six-week truce
  • But sticking points remained, including a Hamas demand that Israeli forces entirely withdraw from the Gaza Strip after almost five months of devastating war