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

At least 35 hurt after magnitude-6.1 quake in Turkey

National authorities said the quake was at a magnitude of 5.9 -- lower than the 6.1 given by the US...
  • The shallow tremor struck about 170 kilometres (105 miles) east of Istanbul, the country's largest city, where it was strongly felt
  • Experts have long warned a large quake could devastate Istanbul, which has allowed widespread building without safety precautions

Five civilians die in rocket fire in north Syria

Earlier Tuesday, three Syrian government soldiers were killed and others wounded in Turkish bombardments of an air base several kilometres...
  • The rockets were fired from northern Aleppo province, which is controlled by Syrian regime and Kurdish forces, the Britain-based monitor said
  • Ankara has repeatedly carried out cross-border strikes against Kurdish positions in northern Syria in recent days

‘Dangerous rhetoric’ stoking nuclear tensions: UN chief

Guterres told a conference in Morocco that the growing divisions are threatening global peace and security, provoking new confrontations and...
  • Guterres was talking as Russia's war in Ukraine neared its tenth month with no end in sight, fanning nuclear fears.
  • He also said that the world is dangerously close to the edge on the climate, while hate speech and disinformation are proliferating

With gas prices up, Algeria hikes defense budget to US$23bn

With its revenues buoyed by high hydrocarbon prices over the past year, Algeria intends to double its defense budget to...
  • According to the budget approved by the lower house, the total allocated to defense in 2023 will be $22.8 billion for 2022
  • The overall budget is predicated on a forecast economic growth rate of 4.1 percent and inflation of 5.1 percent, along with an oil price of at least $60 a barrel

‘All the stars aligned’: Saudi shock Messi’s Argentina at World Cup

Doha, Qatar---Saudi Arabia pulled off one of the greatest upsets in World Cup history on Tuesday, roaring back to beat...
  • Saudi Arabia, ranked a lowly 51st in the world, equalized early in the second half through Saleh Al-Shehri, silencing the hordes of Argentina fans.
  • Argentina laid siege to the Saudi goal as the minutes ticked away but Saudi goalkeeper Mohammed Al-Owais proved unbeatable and the final whistle sparked scenes of jubilation.

Dubai airport traffic returns to pre-pandemic levels: statement

Dubai, the world's busiest airport for international passengers before the Covid-19 pandemic, had 18,455,938 visitors in the three months to...
  • Passenger forecasts have now been raised to 64.3 million for 2022 with "the prospects of a stronger surge in the offing" in the final quarter
  • The airport had 46.3 million passengers from January to September, up 167.6 percent year-on-year

Iran says starts enriching uranium to 60% at Fordo plant

Under a landmark deal struck in 2015, Iran agreed to mothball the Fordo plant and limit its enrichment of uranium...
  • The move was part of Iran's response to the UN nuclear watchdog's adoption last week of a censure motion drafted by Western governments
  • An atomic bomb requires uranium enriched to 90 percent, so 60 percent is a significant step towards weapons-grade enrichment

ESA to announce name of history’s first ‘parastronaut’ soon

Paris, France---The first astronaut -- or astronauts -- with a physical disability could be announced as soon as Wednesday, according...
  • People with physical disabilities have previously been excluded from one of the most exclusive and demanding jobs on Earth -- and beyond -- due to strict selection requirements.
  • After carrying out a feasibility study, the ESA said potential candidates could include people with deficiencies in their lower limbs, whether from amputation or congenital defects

Russia calls on Turkey to show ‘restraint’ in Syria

Russia has for months ... done everything possible to prevent any large-scale ground operation, Alexander Lavrentyev, Russian President Vladimir Putin's...
  • Turkey on Sunday launched a series of air raids targeting bases of outlawed Kurdish militants across northern Syria and Iraq
  • Turkish President Recep Tayyip Erdogan has been threatening to launch a new military operation in northern Syria since May

LG Chem to build plant in US

The $3.2bn plant will make batteries for electric vehicles.
  • LG Chem said the plant will be capable of producing 120,000 tonnes of cathodes a year by 2027, enough to power 1.2 million pure electric vehicles
  • Cathode, a key component in rechargeable batteries, is made up of nickel, lithium and other materials, and comprises around 40 percent of the cost of electric vehicle batteries

Israel’s Druze organise aid for violence-hit Syria community

In the quiet Galilee village of Julis, Israeli Druze volunteers are busy collecting food donations and gathering information to support...

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Spain, Ireland and Norway recognize Palestinian state

The plans were unveiled last week in a coordinated announcement by their prime ministers, with formal recognition to take place...

Saudi PIF launches Neo Space Group to boost space industry

Riyadh, Saudi Arabia -- Saudi Arabia's Public Investment Fund (PIF)on Monday launched the Neo Space Group to work on the kingdom's...

Israel faces global outcry over Gaza strike that set ablaze tent city

The UN called on Israel to conduct a "thorough and transparent" investigation into the Rafah strike, as the Israeli military...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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EU hosts talks to strengthen Palestinian Authority for Gaza

A "strong" Palestinian Authority is needed to bring peace in the Middle East, EU foreign policy chief Josep Borrell said...
  • They also came just before Norway -- which was hosting the Brussels meeting -- was on Tuesday is to recognize the State of Palestine, along with Spain and Ireland.
  • Mustafa said Sunday's meeting was "a very important opportunity" for the Palestinian Authority to outline its priorities and plans.

Hamas claims to have taken Israeli soldier ‘prisoner’

The armed wing of Hamas said it had taken "prisoner" at least one Israeli soldier in an ambush on Saturday....
  • Hamas also broadcast images of a soldier being dragged along the ground, presenting the soldier as a captured Israeli
  • In a statement on Telegram, the Israeli army said it "clarifies that there is no incident in which a soldier was abducted".

Musk plans largest-ever supercomputer for xAI startup: report

Washington, United States - Billionaire tech mogul Elon Musk has told investors he plans to build a supercomputer dubbed "gigafactory of...
  • Musk wants the supercomputer - which will string together 100,000 Nvidia chips - operational by fall 2025, and "will hold himself personally responsible for delivering it on time,"
  • The planned supercomputer would be "at least four times the size of the biggest GPU clusters that exist today," such as those used by Meta to train its AI models