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

Trump says Musk has ‘lost his mind’ as feud fallout mounts

Washington, United States - US President Donald Trump said Friday that Elon Musk had "lost his mind" but insisted he...

Economy

France opens ‘complicity in genocide’ probes over blocked Gaza aid

Paris, France -- French anti-terror prosecutors have opened probes into "complicity in genocide" and "incitement to genocide" after French-Israelis allegedly...

Geostrategy
Geostrategy

UAE to boost arms industry in order to reduce imports

Drones, guided missiles, simulators: the United Arab Emirates is on the offensive to develop its defense industry in a bid...
  • UAE is among the world's top arms importers and is seeking to diversify its economy
  • The Emirati Defense Consortium EDGE became the first Middle Eastern company to rank among the top 25 military firms in the world last year
Geostrategy

Ten bodies found in migrant boat off Libya: Charity

Doctors Without Borders said its Geo Barents rescue ship had picked up 99 survivors on Tuesday. The victims had died...
  • Tens of thousands of people seek to enter Europe each year via the central Mediterranean, leaving from Libya and Tunisia and heading most often for Italy.
  • MSF said there were currently 186 people on board Geo Barents, including women and children.
Business

Costly delays to Boeing’s 777X rile Emirates

Delays to the certification of Boeing's 777X long-haul aircraft are costing billions and infuriating top customer Emirates, but the US...
  • While still in its testing phase, the world's largest passenger jet flew for the first time outside the United States this week at a major air show in the United Arab Emirates
  • It is no coincidence that its first international flight was to Dubai, home to aviation giant Emirates which has ordered 115 of the aircraft
Geostrategy

UN official to visit Tehran to discuss nuclear program

The head of the UN nuclear watchdog will visit Tehran Monday to discuss Iran's nuclear program, the spokesman for Iran's...
  • Grossi will meet Foreign Minister Hossein Amir-Abdollahian and the head of Iran's atomic agency, Mohamed Eslami, the spokesman added
  • Grossi's last visit to Tehran was in September, when he said he had "technical discussions" with Eslami
Economy

Robots, big data as Gulf nations bet on AI

The annual growth rate of the Middle East AI market is about 20 to 34 percent, led by the UAE...
  • The annual growth rate of the Middle East AI market is about 20 to 34 percent, led by the UAE and then Saudi Arabia
  • PwC said in a report that more than 10 percent of the GDP of Saudi Arabia and the UAE will come from AI by 2030
Economy

Turkey’s troubled lira accelerates record slide

It fell nearly four percent to 10.41 to the dollar before clawing back some of its losses ahead of a...
  • The central bank has lowered its policy rate by 300 basis points to 16 percent since August
  • Even big businesses have started to express alarm that Turkey may be spiralling towards a currency crisis
Economy

Turkey’s troubled lira accelerates record slide

The Turkish lira suffered one of its biggest falls of the year on Tuesday and hit new historic lows to...
  • The lira fell by nearly four percent to 10.36 to the dollar before clawing back some of its losses ahead of a meeting
  • Turkey's nominally-independent bank has bowed to incessant pressure from President Recep Tayyip Erdogan to drive down the cost of doing business in order to stimulate growth
Business

ADNOC to invest $6 billion more in drilling to ramp up production

Abu Dhabi's national oil company announced Tuesday a $6 billion investment in crude oil drilling as it ramps up production...
  • The investment would "enable drilling growth as it boosts its crude oil production capacity to 5 million barrels per day by 2030", ADNOC said.
  • The UAE is one of the world's top crude exporters, with an average of 4.2 million barrels per day.

Saudi releases ex-death row prisoner Zaher: rights groups

Saudi authorities released Abdullah al-Zaher, a citizen from the Shiite minority whose death sentence was later commuted, after years in...
  • "Abdullah al-Zaher was released yesterday following the expiry of his sentence," ALQST for Human Rights said on Twitter on Monday
  • Last month, Ali al-Nimr, who was also arrested as a minor in 2012 for taking part in anti-government protests, was released, according to ALQST and his family
Geostrategy

Assad scraps grand mufti post in Syria

Syrian President Bashar al-Assad has issued a decree eliminating the post of top Muslim cleric for the country and expanding...
  • The new decree, which state media said came into effect on Monday, effectively forces Ahmed Badreddin Hassoun, appointed as grand mufti by Assad in 2004, into retirement
  • His prerogatives will be folded into a council that falls under the ministry of religious endowments, or waqf, which already oversees Islamic affairs in Syria

Trump says Musk has ‘lost his mind’ as feud fallout mounts

Washington, United States - US President Donald Trump said Friday that Elon Musk had "lost his mind" but insisted he...
Economy

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Dubai GDP growth up 3.3 percent in nine months of 2023

Real estate soared by 4 percent, while financial and insurance activities surged 2.7 percent. The knowledge economy improved with a...
Economy

Hamas says Gaza deaths top 25,000 as Israel pushes offensive

"Dozens are still under the rubble," the Hamas government's media office said, adding that the dead and injured "could not...
Geostrategy

Hamas chief holds talks with Turkish FM: sources

Istanbul served as a base for Hamas political leaders before the October 7 attacks. Turkey asked the Hamas chiefs to...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

Denial of Palestinian statehood ‘unacceptable’, says UN chief

In its final summit communique, the Non-Aligned Movement on Saturday "strongly condemned the illegal Israeli military aggression against the Gaza...
  • Guterres said Israel's stance would indefinitely prolong the conflict
  • The WHO has deplored the "inhuman living conditions" in the Gaza Strip
Science

NASA regains contact with mini-helicopter on Mars

Ingenuity, a drone about 1.6 feet (0.5 meters) tall, arrived on Mars in 2021 aboard the rover Perseverance and became...
  • NASA has lost contact with the helicopter before, including for two months last year
  • It previously said that Ingenuity had attained an altitude of 40 feet (12 meters) on Flight 72
Geostrategy

Years after civil war, security wall holds back Iraqi city

Built more than a decade ago at the height of Iraq's civil war which tore apart the multi-faith, multi-ethnic country,...
  • The wall around Samarra has become a burden on daily life in the city that has expanded from 300,000 to 400,000 residents since 2008, pushing up property and land costs
  • Authorities has planned to extend wall perimeter by three to seven kilometres, increase the number of entry points to six, and add watchtowers and surveillance cameras