INSEAD Day 4 - 728x90

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

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

Salik profit slips in H1

The company said traffic recovery supported resilience.

Israel’s hawkish Yoav Gallant driving war in Lebanon

Jerusalem, Undefined - Defence Minister Yoav Gallant, a former general who has shaped Israel's war against Hamas in Gaza, is a...
  • The hawkish politician, a member of Prime Minister Benjamin Netanyahu's party has repeatedly stressed that Israel must take the fight to Lebanon
  • Military action was "the only way to ensure the return of communities in northern Israel to their homes", Gallant told visiting US envoy Amos Hochstein last month

FIFA defers decision on Palestinian request to suspend Israel

FIFA president Gianni Infantino said in a statement: "The FIFA Council has implemented due diligence on this very sensitive matter...
  • At FIFA's congress in Bangkok in May, the Palestinian Football Association called for its Israeli counterpart to be suspended and for Israeli teams to be banned from FIFA event
  • FIFA was initially set to hold an extraordinary session of its ruling council before July 20 to review the independent legal analysis and decide how to proceed

Libya’s eastern administration lifts oil production, export blockade

The Benghazi-based administration, which controls most of Libya's oilfields, said in a Facebook post it was "lifting the force majeure...
  • Libya is struggling to recover from years of conflict after the 2011 NATO-backed uprising that overthrew Moamer Kadhafi
  • It remains split between a United Nations-recognized government of Prime Minister Abdulhamid Dbeibah and the rival authority in the east backed by military strongman Khalifa Haftar

Updates: President Biden says ‘discussing’ possible Israeli strikes on Iran oil facilities

Oil prices shoot up as Biden suggests that Israel might target Iranian oil facilities, while GCC Arab states, including Qatar,...
  • "First of all, we don't 'allow' Israel, we advise Israel. And there is nothing going to happen today," says Biden.
  • GCC Arab states, including Qatar, Saudi Arabia, and UAE reassure Iran of neutrality in the conflict between Tehran and Israel

Samsung says planning job cuts

The layoffs could affect about 10 percent of the workforce.
  • The world's largest memory chipmaker is modifying staffing levels in Southeast Asia, Australia, and New Zealand, a company spokesman told AFP
  • The "routine workforce adjustments" are carried out "to improve operational efficiency," said Samsung Electronics in a statement

Regional Updates: Iran “not looking for war” but will retaliate fiercely to any Israeli attack

Iranian leadership vows strong retaliation if Israel attacks Iran as Hezbollah kills eight Israeli soldiers and destroys 3 tanks while...
  • Hezbollah said it repelled an Israeli infiltration into southern Lebanon on Wednesday, as Israel reported eight soldiers were killed and 3 tanks destroyed
  • US President Joe Biden rules out supporting an Israeli strike on Iran's nuclear sites as Israel aims to garber support for an attack against Iran

Israel declares UN chief ‘persona non grata’ over Iran attack response

"Anyone who cannot unequivocally condemn Iran's heinous attack on Israel does not deserve to step foot on Israeli soil," said...
  • Following Iran's missile attack on Israel late Tuesday, Guterres condemned the "broadening conflict in the Middle East", slamming "escalation after escalation" in the region.
  • Israel has been a harsh critic of the UN, with ties between the state and the international body souring even more after the October 7 Hamas attacks.

G7 says diplomatic solution is still possible in Middle East

Rome, Italy -- The G7 on Wednesday vowed to work together to reduce tensions in the Middle East and said a...
  • Italian Prime Minister Giorgia Meloni called a telephone meeting of the body Wednesday to address the escalating Mideast crisis.
  • "In a constantly evolving scenario, it was agreed to work together to promote a reduction of tensions at the regional level," said the statement released by the Italian government.

Hezbollah says it clashed with Israeli troops who tried to ‘infiltrate’ Lebanon

Hezbollah said Wednesday it clashed with Israeli soldiers who tried to infiltrate into Lebanon, and also targeted Israeli troops across...
  • Israeli military said that troops had started "targeted ground raids" in south Lebanon
  • Israeli strikes killed a further 55 people on Tuesday

Microsoft beefs-up its AI assistant with voice, vision

San Francisco, United States - Microsoft on Tuesday doubled down on deploying artificial intelligence to consumers, releasing an updated version of...
  • Suleyman was a former leader at AI pioneer Google DeepMind -- and was poached by Microsoft in March from his startup to head up its consumer AI division
  • It has since been caught by Google and soon Apple, which are using their dominance of the global smartphone market to get their own AI tools to consumers

Flydubai inks $13bn Boeing deal for 75 jets as city’s airlines build up

State-owned flydubai and its long-haul partner airline, Emirates, have been the chief deal-makers at this week's Dubai Airshow, the largest...

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Tunisian brutalist landmark faces wrecking ball, sparking outcry

Tunis, Tunisia -- Tunisia's brutalist landmark the Hotel du Lac -- a 1970s postcard icon said to have inspired a...

Chinese cluster now world’s top innovation hotspot: UN

Geneva, Switzerland -- Shenzhen-Hong Kong-Guangzhou has overtaken Tokyo-Yokohama to become the world's top cluster for innovation, the United Nations said...

Shanghai Cooperation Organisation ‘strongly condemns’ civilian toll in Gaza

The 10-member SCO said they also strongly condemned US and Israeli strikes on Iran in June, in the statement issued...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Leaders gather in China for SCO summit ceremony, Xi slams ‘bullying’ behaviour in world order

The SCO comprises China, India, Russia, Pakistan, Iran, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan and Belarus -- with 16 more countries affiliated...
  • The SCO comprises China, India, Russia, Pakistan, Iran, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan and Belarus -- with 16 more countries affiliated as observers
  • More than 20 leaders including Iranian President Masoud Pezeshkian and his Turkish counterpart Erdogan are attending the bloc's largest meeting since its founding in 2001

Putin and Modi in China for summit hosted by Xi

President Xi Jinping gathered the leaders of Russia and India among dignitaries from around 20 Eurasian countries on Sunday to...
  • The SCO comprises China, India, Russia, Pakistan, Iran, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan and Belarus -- with 16 more countries affiliated as observers
  • Russian President Vladimir Putin touched down in Tianjin on Sunday with an entourage of senior politicians and business representatives

Director Jarmusch ‘disconcerted’ over Mubi’s links to Israel military

Venice, Italy -- American director Jim Jarmusch said Sunday he was "disappointed" that arthouse film streaming platform Mubi had accepted...
  • Mubi, a rival to Netflix, is one of the distributors of Jarmusch's latest film "Father Mother Sister Brother", which premieres at the Venice Film Festival on Sunday.
  • The group accepted $100 million from Silicon Valley firm Sequoia Capital, which includes Israeli defense firm Kela in its portfolio, sparking a petition signed by Jarmusch.