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

NASA Features AlUla sky in ‘Astronomy Picture of the Day’

AlUla, Saudi Arabia -  AlUla Governorate achieved a new international milestone, showcasing the clarity of its skies, after a sky...

Science

Mediator Qatar says ‘still waiting’ for Israeli response to Gaza truce proposal

Qatar and Egypt, along with the United States, have been mediating indirect ceasefire negotiations throughout the Gaza war, but despite...

Geostrategy
Business

Airbus Q1 net profit at $514m

The company delivered 127 aircraft in Q1 of 2023.
  • Revenues generated by Airbus' commercial aircraft activities decreased by five percent year-on-year.
  • The company's defense and space unit saw revenues drop by six percent, while the helicopter unit jumped by 26 percent.
Economy

US pick Ajay Banga confirmed as new World Bank president

Banga was the sole nominee for the top job. He will begin his new role on June 2. President Joe...
  • Under an unwritten arrangement, a US citizen has historically held the presidency of the World Bank and a European has run the IMF.
  • Despite unease over continued US grip over the presidency of the bank, the trend continues with Banga, who was born into a Sikh family in India and is a naturalized US citizen.
Geostrategy

Guarantee security for Sudan aid deliveries, asks UN

The United Nations called for security guarantees at "the highest level" to ensure aid deliveries in Sudan, after trucks carrying...
  • UN's top humanitarian official said the global body had a plan for delivering aid and supplies to address the dire situation in Sudan.
  • UN's top humanitarian official said, "We will need to have agreement at the highest level and very publicly".
Geostrategy

Iran arrests energy firm managers for backing workers’ strike

Tehran, Iran -- Iranian authorities have arrested managers at a major petrochemical company for backing a workers' strike over pay...
  • The offshore South Pars field in the Gulf -- the world's largest known gas reserve, which Iran shares with Qatar -- employs some 40,000 workers.
  • In April, an official in charge of the Islamic republic's oil and gas sector in Bushehr province said 4,000 of the workers on strike would be replaced.
Geostrategy

Jordan briefs Russia on Amman’s Syria meeting

AMMAN, JORDAN  - Jordan's Minister of Foreign Affairs and Expatriates Ayman Safadi on Wednesday briefed his Russian counterpart Sergey Lavrov...
  • In addition to Jordan, the meeting in Amman also brought together the foreign ministers of Saudi Arabia, Iraq, Egypt and Syria.
  • Jordanian foreign minister said the political solution must preserve Syria's unity, cohesion, sovereignty and meet the aspirations of the people.
Geostrategy

258m people require food aid, says UN report

PARIS, FRANCE -  Some 258 million people needed emergency food aid last year because of conflict, economic shocks and climate disasters,...
  • In 2022, 258 million people faced high levels of acute food insecurity in 58 countries or territories, a UN report said.
  • Over 40 percent of those lived in Democratic Republic of the Congo, Ethiopia, Afghanistan, Nigeria and Yemen, the report added.
Geostrategy

Iran seizes oil tanker in Strait of Hormuz, says US Navy

Iranian forces seized a Panama-flagged oil tanker in the Strait of Hormuz, the US Navy said, the second such incident...
  • A dozen Iranian Navy fast-attack craft swarmed the vessel in the middle of the strait, said a statement from the Bahrain-based US Fifth Fleet.
  • The troubled but commercially vital Gulf waters, which carry at least a third of the world's seaborne oil, have witnessed a spate of incidents since 2018.
Business

Lufthansa expects summer boom

The group's first quarter loss dipped to $515m from $644m a year ago.
  • Revenues rose by 40 percent to seven billion euros for the period, as 22 million passengers boarded Lufthansa group's planes between January and March.
  • Capacity had already grown to 75 percent of the pre-Covid level in 2019 and was up 30 percent from the previous year.

Young Palestinians in Lebanon dream of a future abroad

Tiny Lebanon hosts an estimated 250,000 Palestinian refugees, according to UNRWA, the UN agency for Palestinian refugees, while almost double...
  • Most Palestinians, including more than 30,000 who fled the war in neighboring Syria after 2011, live in one of Lebanon's 12 official camps
  • In Lebanon, Palestinians' denied right to own property further complicates employment and income generation activities, said director of UNRWA
Economy

World should prepare for El Nino, new record temperatures: UN

Since 2020 though, the world has been hit with an exceptionally long La Nina -- El Nino's cooling opposite --...
  • The UN's World Meteorological Organization said it now estimated there was a 60-percent chance that El Nino would develop by the end of July
  • El Nino, which is a naturally occurring climate pattern typically associated with increased heat worldwide, as well as drought in some parts of the world

NASA Features AlUla sky in ‘Astronomy Picture of the Day’

AlUla, Saudi Arabia -  AlUla Governorate achieved a new international milestone, showcasing the clarity of its skies, after a sky...
Science

Company News

Latest News

Saudi hosts Muslim nations to discuss war in the Middle East with Trump in the equation

Arab and Muslim leaders are gathering in Saudi capital city Riyadh to discuss Israeli war against Gaza and Lebanon in...
Geostrategy

Arab, Muslim leaders fly to Saudi Arabia for talks on Gaza, Lebanon

Riyadh, Saudi Arabia -- Arab and Muslim leaders have begun arriving in Saudi Arabia for a summit scheduled for Monday that...
Geostrategy

Bitcoin hits $80,000 for the first time on Trump return optimism

London, United Kingdom -- Bitcoin soared to a new record high on Sunday, as traders bet that Donald Trump's return to...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

Global food prices reach 18-month high, vegetable oil cost soars

Paris, France -- Global food prices rose in October to their highest level in 18 months, with a sharp increase in...
  • The FAO Food Price Index, which tracks monthly changes in international prices of a basket of food commodities, reached 127.4 points last month, a 2% increase from September.
  • It was the highest since April 2023 but still 20.5 percent lower than the peak reached in March 2022 following Russia's invasion of agricultural powerhouse Ukraine.
Geostrategy

Buried for 14 hours after Israeli strike, Lebanese toddler makes recovery

The strike flattened an apartment complex and killed 15 people, many of them relatives
  • "Ali is the sole survivor of his family," said his father's uncle
  • "He emerged from the rubble, barely breathing, after 14 hours"
Geostrategy

UN probe says women, children comprise the majority of Gaza war dead

In a fresh report, the United Nations Human Rights Office (OHCHR) detailed a raft of violations of international law. Many...
  • "Civilians in Gaza have borne the brunt of the attacks, including through the initial 'complete siege' of Gaza by Israeli forces," the UN said.
  • "Conduct by Israeli forces has caused unprecedented levels of killings, death, injury, starvation, illness and disease."