INSEAD Day 4 - 728x90

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

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

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

Houthi rebels target commercial vessel with a missile

Maritime security firm Ambrey said that a merchant ship had been targeted with a missile in southwest of Aden, Yemen....
  • The rebels have carried out some 30 attacks on commercial shipping and naval vessels
  • US forces on Wednesday destroyed a missile belonging to the Houthi rebels

UN says Israel-Hamas war leaves Gaza ‘uninhabitable’

Since the relentless Israeli aerial and ground assault, triggered by Hamas's deadly October 7 attacks inside Israel, the United Nations...
  • UNCTAD said Gaza was in a dire state before the war erupted, with a 17-year blockade and repeated military operations leaving around 80% of the population dependent on aid.
  • It would take seven decades for the territory to return to just its 2022 GDP level even the reconstruction was started immediately.

Saudi football chief brands Mancini penalty walkout ‘unacceptable’

Doha, Qatar - The president of Saudi Arabian football said Roberto Mancini's disappearing act before the end of the penalty shootout...
  • The Italian did not stick around to see South Korea's Hwang Hee-chan eliminate his Saudi side in the last 16 in Doha with the decisive spot-kick
  • Roberto Mancini, 59, apologized afterwards for walking down the tunnel before their fate was sealed, saying: "I thought it was finished."

GSK profit in 2023 falls

The drug maker said revenues swelled 3 percent to $38.54bn.
  • Profit after tax slid sharply to £4.9 billion ($6.2 billion) last year from £14.9 billion in 2022, when it received a massive gain from the Haleon demerger
  • However, underlying adjusted operating profit, excluding exceptional items, jumped 12 percent to £8.8 billion last year to beat company guidance

Norway warns of consequences over UNRWA funding cut

"We urge fellow donor countries to reflect on the wider consequences of cutting their funding to UNRWA," Norwegian Foreign Minister...
  • Thirteen countries, including major donors such as the United States, Germany, Britain and Sweden, have suspended funding to the UN agency
  • The funding is suspended over accusations that 12 on its staff members were involved in the October 7 attack by Hamas members against Israel

UN court rejects most of Ukraine’s ‘terror’ case against Russia

Kyiv had accused Moscow of being a "terrorist state" whose support for pro-Russian separatists in eastern Ukraine was a harbinger...
  • But ICJ tossed out most of Ukraine's claims, ruling only that Russia was "failing to take measures to investigate facts... regarding persons who allegedly committed an offence".
  • This case predates Russia's 2022 invasion of Ukraine. The ICJ will decide on Friday whether it has jurisdiction to rule in a separate case over that war.

Global stock markets swing ahead of Fed’s latest rate decision

"Markets are eagerly anticipating today's meeting from the Federal Reserve with traders looking for signs over whether a March rate...
  • London and Paris rose but Frankfurt fell near the half-way stage, after a mixed showing in Asia. The dollar edged higher against the euro and yen
  • Investors are hoping the Fed will begin cutting rates soon after hiking them to their highest level in more than two decades to combat inflation

IMF says Red Sea shipping down one-third due to Houthi attacks

"Container shipping... has declined by almost 30 percent," said Jihad Azour, director of the IMF's Middle East and Central Asia...
  • The Iran-backed Houthis have launched more than 30 attacks on commercial shipping and naval vessels since November 19, the Pentagon said on Tuesday
  • Houthi attacks have prompted some shipping companies to detour around southern Africa to avoid the Red Sea, a route that carries about 12 percent of global trade

Ceasefire called after new Pakistan-Afghanistan clashes kill dozens

A 48-hour ceasefire between Afghanistan and Pakistan took hold late Wednesday, officials on both sides said, after dozens of troops...

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UAE top court upholds life terms for 24 convicted in mass trial

Dubai, United Arab Emirates -- The UAE supreme court has jailed 24 people for life after upholding their convictions for...

Iran says no plan for new US nuclear talks, plays down impact of strikes

Iran's Foreign Minister Abbas Araghchi shut down what he said was "speculation" that Tehran would come to the table and...

BBC launches US paid subscription to news website

London, United Kingdom - The BBC, Britain's public broadcaster that is struggling with strained finances, on Thursday launched a paid...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Spain PM Sanchez says Gaza in ‘catastrophic situation of genocide’

Spanish Prime Minister Pedro Sanchez on Thursday said Gaza was in a "catastrophic situation of genocide" and urged the European...
  • The comments represent the strongest condemnation to date by the Socialist leader, an outspoken critic of the Israeli offensive in Gaza sparked by Hamas's 2023 attack on Israel
  • Sanchez mentioned a recent human rights review by the bloc's diplomatic service which, he said, addressed "the catastrophic situation of genocide unfolding in Gaza".

Cristiano Ronaldo extends contract with Saudi Arabia’s Al Nassr until 2027

Riyadh, Saudi Arabia -- Cristiano Ronaldo inked a two-year extension with Saudi Arabia's Al Nassr, the club announced Thursday, following...
  • Minutes before the official confirmation, the team posted a teaser video, with the 40-year-old Ronaldo walking along a beachfront and saying: "Al Nassr forever".
  • The Portuguese superstar arrived in 2023 in the kingdom to play with the club, heralding a rush of players in the latter stages of their careers to the oil-rich country.

Roblox’s Grow a Garden explodes online video game numbers

Paris, France -- A gardening game created by a teenager on online platform Roblox has attracted a record 21 million...
  • More than 21 million players connected to Grow a Garden at the same time on June 21, buying seeds to cultivate a little patch of virtual land, harvesting crops.
  • That shattered the record held by the adrenalin-packed Fortnite, which attracted 15 million concurrent users (CCUs) during an event in late 2020.