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

Google and Facebook chiefs made ‘illegal’ deal: US court documents

Top bosses of Google and Facebook were directly involved in approving an allegedly illegal 2018 deal to cement their dominance...
  • The records, part of an anti-trust lawsuit by a coalition of US states targeting Google, make serious allegations against Big Tech giants long accused of holding monopolies
  • It was the third time the suit was amended, and did not list Facebook or its parent company Meta as defendants

Explosion rocks Baghdad, heightens security fears

An explosion from a hand grenade hit the headquarters of Iraqi parliament speaker Mohammed Halbousi’s Taqaddum party in Baghdad early...
  • The blast caused damage to the building’s doors and windows, police said
  • No group claimed responsibility and there was no comment from Halbousi or the Iraqi government immediately for the incident

US envoy to visit Saudi Arabia, Sudan, and Ethiopia

David Satterfield and Assistant Secretary of State Molly Phee will travel to Riyadh, Khartoum, and Addis Ababa from January 17...
  • In Riyadh, the envoy will meet the Friends of Sudan, a group calling for the restoration of the country's transitional government
  • In Khartoum, they will meet pro-democracy activists, women's and youth groups, civil organizations, and military and political figures

UN calls for release of UAE-flagged ship seized by Yemen rebels

The Saudi-led military coalition backing Yemen's internationally-backed government against the rebels said the Rwabee was returning from a mission to...
  • The Saudi-led military coalition backing Yemen's internationally-backed government against the rebels said the Rwabee was returning from a mission to set up a field hospital
  • The Iran-backed Huthis released images of what they said were military jeeps and weapons on board the vessel, which was captured off the key rebel-held Red Sea port of Hodeida

‘Google, Facebook OK’d pact’

Suit says Big Tech giants hold online monopolies
  • The records, part of an anti-trust lawsuit by a coalition of US states targeting Google, make serious allegations against Big Tech giants long accused of holding monopolies
  • According to the states' accusations, the online search colossus sought to oust competition by manipulating ad auctions

Tunisians defy ban on gatherings to protest against president in capital

As the country marks 11 years since the late dictator Zine El Abidine Ben Ali fled into exile, police deployed...
  • President Kais has since virtually ruled by decree, to the outrage of his opponents, including the powerful Islamist-inspired Ennahdha party
  • Ennahdha supporters have compared Saied to Egyptian President Abdel Fattah al-Sisi, whose crackdown on Islamist demonstrators in 2013 left hundreds dead

EU foreign policy chief says renewed nuclear deal with Iran ‘possible’

EU foreign policy chief Josep Borrell said Friday that a renewed deal with Iran on curtailing its nuclear program remained...
  • The 2015 deal -- agreed by Iran, the US, China, Russia, Britain, France and Germany -- offered Tehran sanctions relief in exchange for curbs on its nuclear program.
  • US president Donald Trump withdrew the US in 2018 and reimposed biting sanctions, prompting Tehran to begin rolling back on its commitments.

10 injured in fire at Kuwait’s largest refinery, operations unaffected

A fire at a gas liquefaction unit in Kuwait's largest refinery Friday left 10 people injured before it was put...
  • The blaze "erupted during maintenance work" on the unit at Mina al-Ahmadi refinery, 40 kilometers south of Kuwait City.
  • Five of the injured were hospitalized with severe burns. Firefighters were mobilized and had extinguished the blaze.

Qatar’s Al-Attiyah claims fourth Dakar crown

The 51-year-old - champion in 2011, 2015, 2019 - took the overall honors by almost half an hour from France's...
  • Earlier on Friday British motorbike rider Sam Sunderland had claimed his second Dakar Rally crown.
  • Sunderland, 32, dominated the first week but he duelled for the overall lead over the final days and surrendered it several times before finally coming out on top.

Citi to sell SE Asian biz for $3.6 bn

Singapore's United Overseas Bank will buy the franchises
  • The total price of the Singapore's United Overseas Bank acquisition is Sg$4.9 billion ($3.6 billion).
  • As part of the deal, around 5,000 Citi employees are expected to transfer to UOB, the lenders said.

US judge extends detention of pro-Palestinian protest leader

Pro-Palestinian student protest leader Mahmoud Khalil remained in US detention Friday despite an expected release, his lawyer said, following reported...

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Creeping war threatens Sudan’s eastern border

Sudan's nine-month-old war has so far largely spared the country's east. But with the frontline inching ever closer, and reports...

Shares in India’s Paytm dive 20%

Banking arm asked to stop accepting fresh deposits.

Biden to visit Michigan as Arab American anger over Gaza grows

The trip comes days after the Democratic incumbent's campaign manager traveled to the city of Dearborn -- home to the...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Egypt grapples with dollar crunch as debt explodes

With inflation up at 35 percent, and amid a severe foreign currency crunch, the Egyptian pound is plunging and the...
  • Egypt has seen remittances from overseas workers drop 30% in July-September 2023 alone
  • Its external debt rose to $164.7bn and the cost of servicing that debt this year will be $42bn

Hamas head due in Cairo for truce discussions

As Qatari and Egyptian-led mediation efforts intensified, Hamas leader Ismail Haniyeh was due in Cairo on Thursday to discuss a...
  • Hamas was reviewing a proposal for a six-week truce in its war with Israel, a source told AFP, after mediators gathered in Paris
  • A Hamas source told AFP the three-stage plan would start with an initial six-week halt to the fighting that would see more aid deliveries into the Gaza Strip

Efforts to pause Israel-Palestine war gain pace amid fierce fighting

Palestinian Territories - International efforts towards a new pause in the devastating Gaza war gathered pace Wednesday, as Israel bombarded...
  • Hamas was reviewing a proposal for a six-week truce in its war with Israel, a source told AFP, after mediators gathered in Paris
  • While talks take place, the population of Gaza is starving to death due to constraints imposed on humanitarian aid