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.

ExxonMobil expects global oil demand near current levels in 2050

New York, United States - Global oil demand is unlikely to fall by 2050 despite progress on renewable energy, the US...
  • In a new report, ExxonMobil said it "sees a plateau in oil demand beyond 2030, remaining above 100 million barrels per day through 2050."
  • This would be roughly in line with oil demand last year of 102.2 million barrels per day, according to the International Energy Agency

Egypt says will not accept Israeli force on its Gaza border

Cairo, a key mediator in efforts to secure a ceasefire between Israel and Hamas in Gaza, "reiterated to all parties...
  • "Egypt is managing the mediation" between Israel and Palestinian militant group Hamas "in accordance with its national security", the source told Al-Qahera News.
  • The negotiations, also mediated by Qatar and the United States, have yielded little hope for a ceasefire, though Washington said Friday that some progress had been made.

Israel strikes Lebanon, says thwarted large-scale Hizbollah attack

The result was perhaps the biggest exchange of fire in 10 months of a war which began with a Hamas...
  • Hizbollah, the powerful Iran-backed Lebanese armed group, denied that thousands of launchers had been destroyed or that Israel had thwarted a larger attack
  • Israeli Prime Minister Benjamin Netanyahu told his cabinet the strikes were "not the final word" in the campaign against Hizbollah

Don’t give smartphones to kids under 11, UK mobile phone firm says

London, United Kingdom - One of Britain's biggest mobile network operators said on Sunday it will warn parents they should not...
  • The new guidance comes after growing concern from parents about the potential pitfalls of smartphone access for young people
  • A recent study by the UK communications regulator found around a quarter of British children aged between five and seven-years-old now had a smartphone

Telegram chief Pavel Durov arrested at French airport: officials

Paris, France - French police arrested Telegram chief executive Pavel Durov on Saturday at an airport near Paris for alleged offences...
  • The Franco-Russian billionaire, 39, was detained at Le Bourget airport north of the French capital on Saturday evening, one of the officials told AFP
  • "Enough of Telegram's impunity," said one of the investigators, adding they were surprised Durov came to Paris knowing he was a wanted man

Israeli defence minister declares 48-hour state of emergency

"The declaration on the state of emergency enables the IDF (Israeli military) to issue instructions to the citizens of Israel,...
  • "I hereby declare a special situation on the home front in other areas of the country. The situation is valid for 48 hours starting at 6:00 am," Gallant said
  • In a separate statement, the defence ministry said Gallant briefed US Secretary of Defence Lloyd Austin on the overall situation

Harris bats for nuance on Gaza, Palestinians’ right to ‘freedom, self-determination’

Harris also pledged to "always stand up for Israel's right to defend itself." Some pro-Palestinian activists, who rallied on the...
  • The US Democratic candidate vowed to "not cozy up to tyrants and dictators" who can flatter Trump as he "wants to be an autocrat himself."
  • Harris won the biggest applause lines in her foreign policy section when she spoke of the suffering of Palestinians

US Fed chair says ‘the time has come’ to start cutting rates

The Fed's benchmark lending rate currently sits at a 23-year high of between 5.25 and 5.50 percent, cooling demand in...
  • "The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks," Fed chair Powell said
  • After holding its key lending rate at a two-decade high for more than a year, Powell's remarks suggest the US central bank is now all but certain to start cutting rates

Alibaba to upgrade Hong Kong listing amid profit drop

Hong Kong, China -- Chinese e-commerce giant Alibaba said Friday it would upgrade its Hong Kong-listed shares to primary status, opening...
  • The decision by shareholders during its annual general meeting Thursday will provide a much-needed boost to the firm, which has underperformed the market in recent years.
  • Alibaba has been primarily traded in New York since 2014 and remained dual-listed after its notable return to Hong Kong through a second listing in 2019.

In rare move, UAE accepts Taliban government ambassador

It became just the second country after China to do so. The UAE said it was committed to "building bridges"...
  • The UAE's growing ties with the Taliban government include the management of Afghan airports by an Emirati firm, GAAC, following the withdrawal of US forces and Taliban's return.
  • "The world recognizes the challenges faced by Afghanistan over the past few years," an Emirati official said in a statement.

Google denies removing W.Sahara border for Morocco users

The dotted lines illustrating the border between Western Sahara and Morocco, indicating the former's disputed territory status, have never been...

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Indonesian child’s viral fame draws tourists to boat race

Pekanbaru, Indonesia -- Armed with colourful oars, rowers pack into long boats in western Indonesia, paddling furiously in front of...

Iran says killed six ‘terrorists’ linked to Israel in Sistan-Baluchistan province

Iranian forces have killed six militants in a raid in the restive southeast, state media reported Saturday, saying they were...

Syria postpones selection of lawmakers from Druze, Kurdish-held areas

A Syrian official said Saturday that the selection process planned for a transitional parliament next month will be postponed in...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Hamas demands opening of Gaza crossings after UN famine declaration

Hamas called on Friday for an immediate end to the war in Gaza and the lifting of the Israeli siege...
  • In a statement published online, the group called for "immediate action by the UN and the security council to stop the war and lift the siege."
  • The group went on to say that the declaration by the United Nations confirmed the "humanitarian catastrophe" in Gaza and accused Israel of using starvation as a "tool of war".

Iran to meet Britain, France and Germany on its nuclear programme as snapback sanctions loom

The move would reimpose sweeping UN sanctions lifted under the 2015 agreement unless Iran agrees to curb its uranium enrichment...
  • The Islamic republic suspended cooperation with the International Atomic Energy Agency in July in the wake of its 12-day war with Israel
  • The European trio -- parties to the landmark 2015 Iran nuclear deal -- have threatened to trigger a "snapback mechanism" by the end of August

Trump, Intel announce deal giving US a 10% stake in chipmaker

Chipmaker Intel has agreed to give the US government a 10-percent stake in its business, the company and President Donald...
  • The deal came after Trump's administration said Intel should give Washington an equity stake in exchange for large grants committed when Joe Biden was president
  • Under the agreement, the US government will receive 433.3 million shares of common stock, representing a 9.9 percent stake in the company, Intel said in a statement