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.

Biden warns Netanyahu risks losing support for Gaza war

Biden told a campaign event in Washington that Israel had "most of the world supporting it" after the Hamas attacks,...
  • The US president told donors that Netanyahu needed to "change" his stance on a two-state solution for the Palestinians
  • Netanyahu meanwhile said there was "disagreement" with Biden over how a post-conflict Gaza would be governed

Gaza war derails Palestinian economy, say World Bank

Washington, US - The Israel-Hamas war in Gaza is having a severe impact on the Palestinian economy, according to the World...
  • Gaza's contribution to the overall Palestinian economy had already shrunk from around 36 percent in 2005 to just 17 percent last year.
  • Whereas the World Bank previously anticipated growth of 3.0 percent in 2024, it now expects an overall contraction of 6 percent.

US sanctions China, Turkey firms to curb Russia war efforts

Washington, United States -- The United States unveiled sanctions Tuesday on individuals and companies based in China, Turkey, the United Arab...
  • The latest actions take aim at people and entities accused of supplying Russia’s industry and furthering its ability to wage war against Ukraine.
  • The Treasury Department imposed sanctions on more than 150 parties, while the State Department did so on over 100, including those engaged in sanctions invasion in third countries.

Middle East leaders grapple with post-war Gaza challenges at Doha

At the annual Doha Forum that ended Monday, Qatar reiterated that no Arab country would send in forces to stabilize...
  • Jordan's Prime Minister Bisher Khasawneh warned that failure to deal with "the day after" the war would mean "uglier scenes in a year or two".
  • However, concrete policies were lacking at the forum, which did not include high-level representatives from Saudi, Lebanon and Egypt.

WHO says Palestinian patient died due to lengthy Israeli checks

The chief of WHO said the convoy was stopped twice at the Wadi Gaza checkpoint on the way to northern Gaza...
  • WHO chief Tedros Adhanom Ghebreyesus did not say in his message who carried out the checks, but a WHO spokesman told AFP they took place at an Israeli army checkpoint.
  • The UN estimates 1.9 million of the territory's 2.4 million people have been displaced by the war, half of them children.

COP28 goes into overtime as negotiators wrestle over fossil fuel

COP28 has debated a historic first-ever global "phase-out" from oil, gas and coal, the main culprits in a planetary crisis...
  • With low-lying island nations warning that their very survival is at risk, negotiators worked through the night and the Emirati hosts promised a new draft to try to find consensus.
  • Saudi Arabia has told COP28 to take its "concerns" into consideration while the OPEC oil cartel has urged members to resist calls to end their lucrative export.

Gaza destruction worse than in World War II Germany: EU’s Borrell

Israel's military response to Hamas's October 7 attacks has resulted in "an incredible number of civilian casualties", Borrell said after...
  • "The destruction of buildings in Gaza... is more or less or even greater than the destruction suffered by the German cities during the World War II," taken proportionally, he said.
  • He said he had presented a discussion paper to the EU foreign ministers looking at "imposing sanctions against extremist settlers in West Bank".

Additional border crossing to examine Gaza aid, says Israel

International aid organizations have struggled to get supplies to desperate Gazans under Israeli bombardment, with only the Rafah crossing in...
  • Israel said on Monday that no new direct crossings will be opened
  • The additional checkpoint will screen "trucks containing water, food, medical supplies"

El Salvador to issue bitcoin bonds in first quarter of 2024

With bitcoin, Bukele sought to make it easier, and cheaper, for Salvadorans to receive remittances and to provide financial services...
  • Bitcoin became a legal currency in El Salvador, alongside the US dollar, in 2021 at the behest of President Nayib Bukele
  • In 2021, Bukele announced a plan to build a "Bitcoin City" in the east of the country, which would be powered by thermal energy from a volcano

Israeli forces kill 4 Palestinians in West Bank: ministry

The ministry did not provide further details on the fatalities, while the Palestinian Red Crescent Society said they were killed...
  • Israeli forces "continue to storm Jenin camp and ambulance crews are prevented from entering to deal with medical cases," the Red Crescent said
  • There was no immediate comment on the killings from the Israeli military, which has occupied the West Bank since the 1967 Arab-Israeli War

Palestinian agency says water supply resumes in central Gaza

The Ramallah-based Palestinian Water Authority said Friday that running water would return to central Gaza after damage to supply lines...

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US envoy says France can ‘carve’ Palestinian state out of Riviera

Jerusalem, Undefined - The US ambassador to Israel Mike Huckabee has lashed out at France's advocacy for recognition of a...

Russia, Ukraine head to Istanbul for fresh peace talks

Russian and Ukrainian officials will meet Monday in Istanbul to exchange their plans for how to end the three-year war,...

Snakes on a plane: Indian smuggler caught with venomous vipers

Mumbai, India - A passenger smuggling dozens of venomous vipers was stopped after flying into the financial capital Mumbai from...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Egypt unveils plan for new desert city in latest megaproject

The new city, named Jirian meaning "Flow" in Arabic, is part of Egypt's Nile Delta scheme, a massive agricultural initiative...
  • The project is the latest in a string of megaprojects launched by President Abdel Fattah al-Sisi in recent years, including a new administrative capital east of Cairo.
  • The project will feature luxury residences, 80-storey skyscrapers, international universities and hospitals, an eco-friendly hotel and commercial zones.

Saudi FM says blocking of West Bank delegation shows Israeli rejection of peace process

Ministers from Saudi Arabia, Egypt, Jordan and Bahrain, along with the Arab League chief, had planned a trip to the...

Indian airline IndiGo orders 30 Airbus A350 widebody planes

New Delhi, India -- Indian airline IndiGo said on Sunday it had signed an order for 30 more Airbus A350-900s,...
  • The low-cost carrier, India's biggest by market share, is positioning itself as a significant player in the long-haul market.
  • The A350 planes, with ranges of up to 15,000 kilometers (9,300 miles), will allow it to expand its network further.