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

Britain may build seven nuclear power plants by 2050

Britain could build up to seven new nuclear power plants by 2050, as well as offshore wind to diversify energy sources,...
  • Britain has set itself a target of carbon neutrality by 2050 and the government could publish a delayed new energy security strategy
  • About 21 per cent of Britain's electricity comes from 15 nuclear reactors today, according to Energy UK trade association

Yemen savors a quiet day of Ramadan truce

A UN-brokered two-month truce took effect in Yemen Saturday, the first day of the Muslim holy month of Ramadan, and...
  • The Iran-backed Houthi rebels and the Saudi-led military coalition have both agreed to observe the ceasefire
  • Yemen's war has killed hundreds of thousands directly or indirectly and displaced millions, triggering the world's worst humanitarian crisis, according to the United Nations

Iran says agreement in paused Vienna nuclear negotiations ‘close’

Iran has been engaged in negotiations to revive the deal, known formally as the Joint Comprehensive Plan of Action (JCPOA),...
  • Iranian and US delegations in Vienna do not communicate directly, but messages are passed through other participants and the European Union, the talks' coordinator.
  • The talks were halted last month, after Russia demanded guarantees that Western sanctions imposed following its invasion of Ukraine would not damage its trade with Iran.

Imran Khan outwits rivals, gets national assembly dissolved

Pakistan will go to the polls to elect a new government within three months after Prime Minister Imran Khan foiled...
  • On a day of high drama, the assembly deputy speaker refused to accept a motion of no confidence in the government
  • The move appeared to blindside the opposition, who had confidently predicted they had enough votes to boot Khan from office

War casts its gloom on Swiss watch industry

Diamonds shine brightly at this year's Geneva watch fair but the sanctions slapped on Russia could soon force the Swiss...
  • Luxury watchmakers exhibiting at Watches and Wonders depends on their reserves, as the major supplier of diamonds, gold, and other precious metals Russia faces worldwide sanctions
  • Switzerland is the chief importer of Russian gold, ahead of precious metals such as platinum followed by diamonds

Iran slams US for ‘preventing entry’ of Iranian singer

The US government, "by imposing new sanctions and preventing the entry of an Iranian singer, once again showed that... it...
  • Border patrol officers of the US interrogated Iranian singer Alireza Ghorbani at Toronto Airport in Canada and prevented him from traveling
  • Ghorbani was travelling to California to perform at a concert celebrating the Persian new year, Iran's news agency IRNA reported

People flee Lebanon to Iran in search of employment

Lebanon is grappling with an unprecedented financial crisis that the World Bank says is of a scale usually associated with...
  • Lebanon’s crisis, driven by years of endemic corruption, has seen its currency lose more than 90 percent of its value against the dollar
  • The monthly minimum wage now fetches around $30 on the black market, with 80 percent of the population now living in poverty

War-torn Yemen holds breath as breakthrough truce begins

The UAE has expressed its "support" for the UN ceasefire, which was also welcomed by the US, UN chief Antonio...
  • Houthi rebels and the Saudi-led coalition agreed to stop all ground, air, and sea military operations in Yemen for two months
  • Both sides involved in the Yemen conflict have agreed to open roads in Taez and other governorates

Ramadan starts on Sunday for Shiite Muslims in Iraq, Iran, Lebanon

Traditionally, many Muslim-majority countries have followed dates set by Saudi religious authorities, but in recent years many have used their...
  • ‘The first day of Ramadan will be tomorrow’ for Shiites in Iraq, state media said on Saturday, citing Grand Ayatollah Ali Sistani
  • In neighboring Iran, which like Iraq is majority Shiite, as well as for Shiites in Lebanon, Ramadan also begins on Sunday

Tesla delivered 1m EVs last year

That is 67 percent higher than deliveries in the year-ago period.
  • The company delivered 1.06 million cars from April 2021 to March 2022
  • This included more than 310,000 cars in the first quarter of this year alone

James Webb Telescope captures first direct image of exoplanet TWA 7b

The telescope, which can see farther into the universe than anything before it, has turbocharged the search for planets beyond...

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US urges UN court not to order Israel out of Palestinian lands

The International Court of Justice is holding a week of hearings after a request from the UN, with an unprecedented...

Glencore 2023 profit down 75%

The company said lower energy prices cut into its profits.

Boeing readies for competition with China’s first passenger plane

Singapore, Singapore - Boeing said Wednesday it was preparing to compete with China's first domestically produced passenger plane, which was showcased...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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HSBC posts record profit of US$30.3bn

The bank would initiate a share buyback of up to US$2 billion.
  • HSBC reported pre-tax profits of $30.3 billion, up from $17.1 billion the year before, in a statement to the Hong Kong stock exchange
  • The bank said the profits included a "favorable year-on-year impact" of $2.5 billion due to the sale of its French retail banking operations

Musk says patient moves cursor with brain implant

The Neuralink startup, cofounded by Musk in 2016, aims to build direct communication channels between the brain and computers. The...
  • Last month, Musk's neurotechnology company installed a brain implant in its first human patient and on Monday Musk reported the experiment had been a success
  • Neuralink's technology works through a device about the size of five stacked coins that is placed inside the human brain through invasive surgery

London court rejects suspending arms exports to Israel

Britain's strategic licensing criteria states that weapons should not be exported when there is a clear risk they could be...
  • A coalition of legal advocacy groups had asked the High Court in January to expedite a judicial review of UK government's decision to keep selling arms to Israel
  • But the court ruled against the measure, the lawyers said in a statement to AFP on Tuesday, adding that they would appeal the decision