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

Israel attacks Damascus, kills five Syrian soldiers

Five Syrian soldiers were killed in an Israeli airstrike near Damascus airport, according to Syrian state media. The Syrian Observatory...
  • The monitor said Israel targeted sites where Iran-backed groups are stationed near Damascus airport and in the Damascus countryside
  • Israel has carried out hundreds of strikes against its northern neighbour, targeting government troops as well as allied Iran-backed forces and Hezbollah fighters

Head of Lebanon’s victorious Mayyas dance troupe chides politicians

Dozens of relatives offered the Mayyas troupe flowers at Beirut airport while thousands of Lebanese were glued to their televisions...
  • Nadim Cherfan's comment came as a snub to top Lebanese politicians who had praised the group -- including the country's president and prime minister.
  • Mayyas this week snatched a $1 million prize and the chance to headline a Las Vegas show for their extravagant television performance featuring belly dancing

Tunisia decree sets 5 years jail for ‘fake news’

The decree, published in the Official Journal, defines the offence as "deliberating using communication networks and information systems to produce,...
  • The decree was condemned on social media after its publication as an attempt to muzzle journalists
  • Saied in July last year sacked the government and suspended parliament, before later dissolving the legislature entirely

Stocks mostly slide; pound hits 37-year dollar low

Stock markets mostly slumped Friday, while the British pound tanked to a 37-year dollar low as weak UK retail sales...
  • Sales by volume dived 1.6 percent in UK last month, more than triple expectations.
  • Sterling has hit a series of 1985 lows in recent weeks, also as the US Federal Reserve implements aggressive hikes interest rate hikes.

Dubai appeals non-extradition of Briton accused of tax fraud

Dubai's attorney general will appeal against a court's refusal to extradite a British national wanted over an alleged 1.7 billion...
  • Hedge fund trader Sanjay Shah was arrested in Dubai in June, but the emirate's Court of Appeal last week rejected Denmark's extradition request.
  • The appeal by Chancellor Essam Issa Al Humaidan, Dubai's attorney general, will be heard in the Dubai Court of Cassation.

Israel preparing to connect to gas field disputed by Lebanon

Israeli energy ministry's announcement comes less than 10 days after Energean announced it was "on track to deliver (the) first...
  • The United States has mediated the dispute, which escalated in early June when Energean brought a production vessel into the field.
  • Last Friday, US mediator Amos Hochstein noted "progress" in the talks, but said that "still more work needs to be done."

Germany seizes Rosneft’s subsidiaries

Berlin took control of the German operations of Russian oil firm Rosneft to secure energy supplies which have been disrupted...
  • The seizures come as Germany is scrambling to wean itself off its dependence on Russian fossil fuels.
  • Move covers the companies Rosneft Deutschland GmbH and RN Refining & Marketing GmbH and their corresponding stakes in three refineries: PCK Schwedt, MiRo and Bayernoil.

Climate-fueled hunger more than doubles in worst-hit countries: report

The analysis, "Hunger in a heating world," found that acute hunger had risen 123 percent over six years in the...
  • The countries Somalia, Haiti, Djibouti, Kenya, Niger, Afghanistan, Guatemala, Madagascar, Burkina Faso and Zimbabwe have repeatedly been battered by extreme weather
  • An estimated 48 million people across those countries suffer acute hunger, defined as hunger resulting from a shock and causing risks to lives and livelihoods

Third ‘armed bank withdrawal’ in a week in Lebanon

When a branch of the Byblos bank opened in the southern town of Ghaziyeh, a depositor, reported to be in...
  • A man in 50 stormed a branch of Byblos bank in the southern town of Ghaziyeh and threatened bank employs with a gun and demanded his savings
  • The man walked away with around $19,000 and turned himself in to the police moments later as a crowd formed in front of the bank to support him

Xi urges more ‘political trust’ with Turkey in Erdogan meeting

Xi and Erdogan met on the sidelines of the Shanghai Cooperation Organization (SCO) summit in Samarkand, Uzbekistan. Turkey is a...
  • Xi also pushed for more cooperation on his signature Belt and Road global trade initiative
  • Xi also met Russian President Vladimir Putin and Iran's Ebrahim Raisi at the regional security summit

Astronomers discover blazing Betelgeuse has companion star

Paris, France - Since at least the time of the ancient Egyptians, people across the world have gazed up in...

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Palestinians relaunch bid to become UN member state

The Palestinians, who have had observer status at the world body since 2012, have lobbied for years to gain full...

Israel terms killing of aid workers in Gaza ‘grave mistake’

Israeli Prime Minister Benjamin Netanyahu said the military had "unintentionally" killed the aid workers, calling it a "tragic case" that...

Tesla reports drop in auto sales

The decline was in part due to a weak sales market in China.
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Netanyahu branded ‘traitor’ in fourth night of Israel protests

Former premier Barak said if Netanyahu launches a ground offensive on Rafah, the "hostages will return in coffins. The one...
  • Thousands gathered in front of the country's parliament, with hostage families and former prime minister Ehud Barak blaming Netanyahu for the October 7 attacks
  • Merav Svirsky, who lost both her parents in the Hamas attack, and whose brother was later murdered in Gaza, said Netanyahu is in no hurry to free the hostages

World Bank estimates damage to Gaza infrastructure at $18.5bn

The World Bank said in its interim damage assessment, this is equivalent to 97 percent of the combined economic output...
  • The bank said the rate of damage appears to be leveling off as few assets remain intact
  • The report also found that more than half of Gaza's population were on the brink of famine

Gaza situation ‘beyond catastrophic’, says UN agency chief

The British-born official, who spent a week in the besieged Palestinian territory last month, said even when aid got through...
  • "Everybody we drove by and many we spoke to were gaunt, starving, hungry and looking frail. Everybody was looking for food," said Dominic Allen, the head of UNFPA.
  • "Delivery rooms are overwhelmed. A midwife described women giving birth on the floor because they were at maximum capacity," he added.