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

Iraqi Christian leader leaves Baghdad as tensions with president soar

Cardinal Louis Raphael Sako, the patriarch of Iraq's Chaldean Catholic Church and architect of Pope Francis' historic visit to the...
  • Kildani is the leader of the Babylon Movement, whose armed wing is part of Hashed al-Shaabi - a network of largely pro-Iran paramilitaries that were integrated into Iraqi forces
  • In a statement on Saturday, the cardinal condemned the government's "silence" over what he described as a campaign against him by the Babylon Movement

Iraq honey production at the mercy of heat and drought

Bees thrive in temperatures of around 30-35 degrees Celsius, not in searing heat, when the thermometer climbs to 50, said...
  • A bee needs to constantly forage for the pollen and nectar necessary for honey production but the drought is forcing bees to travel longer to pollinate
  • In 2022, honey produced in parts of Iraq controlled by the Baghdad federal authorities reached 870 tonnes, while in Kurdistan 850 tonnes were produced

Israelis continue protests as judicial reform advances

Following stiff opposition and growing international criticism -- including from US President Joe Biden -- Prime Minister Benjamin Netanyahu ordered...
  • Saturday's rallies, the 28th since the reform agenda was unveiled in January, come days after parliament approved in its first reading the bill
  • The proposals on Judicial reforms would also give the Netanyahu's government a greater say in the appointment of judges

UAE, India pledge for success of Dubai’s COP28 event

The UAE and India vowed to make this year's COP28 conference in Dubai a success, as Indian Prime Minister Narendra...
  • "The UAE and India are united in their determination to ensure the successful outcome of COP28 as an inclusive and action-oriented conference," said a statement.
  • The leaders of both the countries said they were "committed to enhance cooperation on climate ambition, decarbonization and clean energy".

Ukraine grain deal failed to achieve objective, says Putin

Russian President Vladimir Putin said the main objective of the deal that allowed Ukrainian grain exports to resume was not...
  • A memorandum on unhindered Russian food and fertilizer exports had been signed in parallel to the grain deal.
  • "The main goal of the deal, namely the supply of grain to countries in need, including on the African continent, has not been implemented," Putin said.

Almost the entire world is experiencing record heatwaves

Record heat is forecast around the world from the United States, where tens of millions are battling dangerously high temperatures,...
  • Authorities in many countries have been sounding the alarm, advising people to avoid outdoor activities in the daytime and to be wary of dehydration.
  • Scientists insist global warming - linked to dependence on fossil fuels - is behind the intensification of heat waves in the world.

With Putin arriving in Aug, Erdogan confident of Ukraine grain deal extension

The Black Sea grain deal was first signed in July 2022, five months after the Russian invasion of Ukraine, and...
  • Erdogan said he had spoken with Russian President Vladimir Putin about the crucial deal, set to expire on Monday, though he did not say when the conversation had taken place
  • Earlier Friday, speaking in Jakarta, US Secretary of State Antony Blinken called on Russia to extend the deal, warning that the most vulnerable countries would suffer without it

Tunisia rights groups urge aid, shelter for stranded migrants

Hundreds of migrants fled or were forced out of Tunisia's second-largest city after racial tensions flared following the July 3...
  • Around 100 protesters demonstrated Friday evening in Tunis at the call of an anti-fascist coalition, expressing their "solidarity with undocumented migrants"
  • HRW has said the migrants had been left to fend for themselves without water or shelter in the border regions, where temperatures surpass 40 degrees Celsius

Damascus conditions for cross-border aid ‘unacceptable’: UN

A letter this week from Syrian authorities allowing use of the border crossing between Turkey and Syria "contains two unacceptable...
  • OCHA said it was concerned that the Syrian government had "stressed that the United Nations should not communicate with entities designated as 'terrorist'
  • The second condition it bridled at was that ICRC and Syrian Arab Red Crescent should "supervise and facilitate the distribution of humanitarian aid" in northwest Syria

US banks express caution on economy as Fed rate hikes boost earnings

Results of large US banks released underscored the boon from higher interest rates, as executives described the world's biggest economy...
  • JPMorgan and Wells Fargo both reported huge increases in second-quarter profits.
  • Citi experienced a drop, citing an anemic investment banking market for revenue drop.

Iran will accept nuclear curbs and restrictions to uranium enrichment if sanctions lifted: report

Iran will accept limits on its nuclear programme and restrictions to uranium enrichment if international sanctions are lifted, its foreign...

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Iran’s Khamenei: US plan to displace Gazans ‘will go nowhere’

Tehran, Iran - Iran's supreme leader Ayatollah Ali Khamenei on Tuesday dismissed a proposal by the United States to displace Palestinians...

More than one million Syrians return to their homes: United Nations

Geneva, Switzerland -- More than one million people have returned to their homes in Syria after the overthrow of Bashar al-Assad,...

Netanyahu commits to Trump’s Gaza plan as Rubio seeks Arab backing in Saudi talks

In a statement on Monday, Israeli Prime Minister Benjamin Netanyahu said he was "committed to US President Trump's plan for...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Cyprus and Egypt sign deal to process, export gas to Europe

Nicosia, Cyprus -- Cyprus and Egypt on Monday signed an agreement with an energy consortium to export gas from the Mediterranean...
  • The gas will be transported and processed in Egypt at "existing Zohr facilities to be then liquefied in the Damietta (liquified natural gas) LNG plant for export to European market
  • Europe has been seeking alternative sources of natural gas since Russia invaded Ukraine almost three years ago.

War-weary Gazans reel from ‘500 days of humiliation’

Gaza City, Palestinian Territories -- For 500 days since an unprecedented Hamas attack on Israel triggered the Gaza Strip's deadliest war,...
  • The United Nations has said more than $53 billion will be required to rebuild Gaza and end the "humanitarian catastrophe" that has gripped the territory.
  • The Israeli military campaign by land, air and sea has killed at least 48,284 people in Gaza, the majority of them civilians.

Trump’s aid freeze could cause millions more AIDS deaths: UN agency

Addis Ababa, Ethiopia - President Donald Trump's decision to suspend US overseas funding could result in millions more deaths from AIDS,...
  • The United States is the world's largest provider of official development assistance, with most funds directed through the United States Agency for International Development
  • Trump ordered the bulk of US foreign assistance to be frozen for three months on returning to office in January, leaving global humanitarians scrambling to deal with the fallout