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

Ukraine conflict fuels supply chain concerns

Since Russia invaded, almost 80,000 Ukrainians have returned to fight Russia, leaving industries short of labor.
  • Because of the ongoing invasion on Ukraine, shipping companies have had to find new routes, and shipping prices immediately increased
  • Oil prices have also rocketed since the invasion as Brent North Sea crude rose to $120 per barrel and gas prices hit record highs

UN nuclear watchdog chief arrives in Tehran as UK says deal ‘close’

Iran's Foreign Minister Hossein Amir-Abdollahian said he was prepared to travel to Vienna if a deal is reached.
  • Rafael Grossi, Director General of International Atomic Energy Agency is set to meet Iranian officials on its visit to Tehran
  • Iran's Foreign Minister Hossein Amir-Abdollahian said he was prepared to travel to Vienna if a deal is reached

Hermes, Chanel, Louis Vuitton pause business in Russia over Ukraine war

Hermes group runs three stores in Russia, including one in the Gum department store on Red Square, and employs 60...
  • Hermes group runs three stores in Russia, including one in the Gum department store on Red Square, and employs 60 people in the country
  • Chanel, which has 17 stores in Russia, said that “major uncertainty and the complexities of operating” had led it to temporarily suspend its operations in the country

China sets lowest growth target in more than three decades

Beijing will target gross domestic product growth of around 5.5% this year, according to a prepared speech by Premier Li...
  • Beijing will target gross domestic product growth of around 5.5% this year, according to a prepared speech by Premier Li Keqiang
  • Most economists surveyed by Bloomberg predicted the government would set a range of 5%-5.5%

Volkswagen plans 2 bn euro electric car plant in Germany

The announcement of the $2.2 billion investment came on the same day Tesla got the green light from local officials...
  • The announcement of the $2.2 billion investment came on the same day Tesla got the green light from local officials to start production at a new plant near Berlin
  • Volkswagen aims at dominating the electric car market by 2025 as it accelerates the pace to catch up with US pioneer Tesla

Living rough in Morocco, migrants dreams of Spanish enclave

Melilla and Ceuta, Spain's tiny enclaves, have the EU's only land borders with Africa that attracts desperate migrants to escape...
  • Around 500 migrants out of 2,500 managed to cross Morocco's border with a Spanish enclave this week, authorities have confirmed
  • In May 2021, almost 10,000 migrants stormed Ceuta as Moroccan border forces did not stop them, highlighting Spanish reliance on Moroccan cooperation on migration

UN food agency warns of global hunger due to Ukraine war

The United Nations’ World Food Programme warned Friday about a looming food crisis in Ukraine in conflict areas, while disruptions...
  • “The bullets and bombs in Ukraine could take the global hunger crisis to levels beyond anything we’ve seen before,” said Beasley
  • With Russia and Ukraine providing some 29 percent of the global wheat trade, serious disruptions in production and exports could send food prices

Russia attack on Ukraine nuclear plant draws global ire

With fears growing of nuclear conflict, the US and Russian armed forces have set up a new direct phone line...
  • Ukraine has accused the Kremlin of ‘nuclear terror’, and US envoy to the UN said the attack was ‘incredibly reckless and dangerous’
  • Russia’s UN ambassador called accusations that Russian forces had shelled the plant part of ‘an unprecedented campaign of lies’

Gas prices soar to record highs as Ukraine crisis stokes supply fears

Europe and UK gas prices hit record highs Friday and crude oil rallied, as Ukraine's invasion by key producer Russia...
  • Europe reference Dutch TTF gas price struck 213.895 euros per megawatt hour in afternoon deals and UK gas hit 508.80 pence per therm.
  • Europe's London Brent North Sea crude leapt 4.7 percent to $115.63 per barrel, having surged to a 2012 peak close to $120 on Thursday.

Iran FM willing to travel to Vienna if nuclear deal reached

Iran's foreign minister said Friday he was ready to travel to Vienna if a deal is reached to revive the...
  • "I am ready to go to Vienna when the Western sides accept our remaining red lines," Hossein Amir-Abdollahian said in a phone call with EU foreign policy chief Josep Borrell
  • The 2015 deal began unraveling when former US president Donald Trump withdrew from it in 2018 and re-imposed sanctions

Tech-fueled misinformation and disinformation distorts Iran-Israel fighting

AI deepfakes, video game footage passed off as real combat, and chatbot-generated falsehoods -- such tech-enabled misinformation is distorting the...

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UN ‘won’t be party’ to forced displacement in Gaza: spokesman

Israeli Prime Minister Benjamin Netanyahu has ordered his military to prepare for an offensive in the southern Gaza city, where...

Jordan’s king urges Gaza ceasefire in talks with Biden

Speaking at the White House while US President Joe Biden stood next to him, King Abdullah of Jordan said that...

Britain sanctions ‘Israeli settlers’ in West Bank

London, UK - Britain on Monday announced sanctions on four "extremist Israeli settlers" accused of committing human rights abuses against Palestinians...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Energy transition led Saudi Arabia to halt oil expansion, says official

RIYADH, SAUDI ARABIA – The Kingdom's surprise decision to halt a planned expansion of its oil production capacity reflects ambitions to...
  • Aramco announced on January 30 that the energy ministry had ordered it to maintain production capacity at 12 million barrels per day.
  • Officials in the world's biggest crude exporter did not explain the move, leaving analysts to speculate that it reflected lack of confidence

Red Sea issue puts Yemen peace process on hold

DUBAI, UAE- As Houthi attacks roil the Red Sea and Western air raids target the rebels, moves to end Yemen's long-running...
  • The Iran-backed Houthis have been fighting a Saudi-led coalition since March 2015, months after they seized the capital Sanaa.
  • Hundreds of thousands of people have died in the fighting and from indirect causes such as disease and malnutrition.

UAE defends Israel ties, calls for two-state solution

Despite maintaining its ties with Israel since the Israel-Hamas war began in October, the UAE has been at pains to...
  • The United Arab Emirates and Israel established diplomatic ties in 2020 as part of the US-brokered Abraham Accords
  • UAE's ambassador to the UN Lana Nusseibeh said her country has a field hospital in Gaza because of cooperation with Israel.